SunTrust Banks, Inc. Bank Account Or Service Complaint

SunTrust Banks, Inc. Bank account or service department,

Other bank product/service Deposits and withdrawals North Carolina

I run a - and we have had multiple issues with suntrust bank. Our - as a result of its intrinsic natural does nothing operate even keel through out each month. We will have a $ - check one day and a - check another. Over 13 times suntrust bank holds a check from one of our customers for up to 7 to 10 days while this is understood to be part of the antiquated bank regulations from -/-/-. It is devastating to our small business. A - dollar check was deposited on Wednesday -/-/-. We where told that the bank put a hold on it on Friday -/-/2016. And told that we could pick up the money Wednesday morning -/-/2016. I went this morning the - of - to pick up our money and it was still not available. I checked with the customer to see if the money was removed from her account and it was on Friday -/-/-. I was also told that they would not give me cash they would only give me a certified check. Which will but put on hold as soon as I put open a new account. I also no longer trust


missed some opportunities that would have allowed our business to make even more money than that in these past 7 days. My belief is that suntrust and possibly other banks removes the money for the payee 's account, uses this money to collect interest and make more money stating the banking regulations as the reason. Then clears the money verifies the check and then that money goes to the receivers account. Once there it stays on hold while that bank uses that money to make money before allowing it to show up in the account. In my mind and in my belief that is laundering. Using - of consumers money to make - worth of interest between banks. In that I think it is possible that just like the mortgage industry bubble popped eventually this will also be a bubble that pops. Interest on money even over 7 days over multiple accounts is a lot of money being made on the illusion of funds not actual funds. It is my belief and concern that all banking customers are headed for a rude awaking When we all find out that our banks do n't actually have any of our dollars.