SunTrust Banks, Inc. Bank Account Or Service Complaint

SunTrust Banks, Inc. Bank account or service department,

Checking account Account opening, closing, or management Virginia

I have been a customer of SunTrust bank for more than 10 years. I have a personal and a business account with them. I run an - - - - - -. As part of my business, I have several developers that reside in - and -. I have started using SunTrust bank to send out wire transfer to - - to - of the developers in the amount of $4000.00 a month since - -. I did my first - transfers at - Bank - - in -, VA in person with no issues. I then was advised to get a phone authorization so that I can do the transfers remotely. I did that and was able to do the final - transfers via the phone.


got a response from - -, thanking me for the information I had submitted. On - -, -, I picked up a certified letter from SunTrust Bank 's - - - where they informed that they will be closing all of my accounts ( business and personal ) within 10 days of the letter dated - - -. There was no explanation for this action. I called the number provided - and was told that I had to go the branch to get an explanation. On - -, - I came to the SunTrust Bank - - in -, VA and spoke to the Branch Manager who was the - helping me with the wires before. He made a call to - - - and found out that they made a business decision to close my accounts and deny me the right to open a new account because I make transfers to -. I asked if I can open a new account if I stop making those transfers and I was told that their decision is final and they do n't want me as a customer. As a consumer I was not told that there was an issue with sending money to - back in - -, I was not given a warning, and I am not being given enough time to sort through this situation. The bank has performed about - transfers total for me with no issues. And now not only my business account is affected but so is my personal. I have all automated payments going in and out of both accounts. I do not have another business account to send to my clients so I can collect payment. The letter was dated - -, giving me only 10 days to close out my accounts. I had to go to the post office to pick it up, which happened on - -. Today is - -. Now I have 3 days to get a new account, get payments in there, transfer my money AND setup all the automated payments without missing payments. This is a huge issue for both my business and personal life.