SunTrust Banks, Inc. Bank Account Or Service Complaint

SunTrust Banks, Inc. Bank account or service department,

Other bank product/service Using a debit or ATM card Florida

Hello, I am frequently overseas and use ATMs to withdraw from my US accounts. I monitor sites such as - to find out the going rates and I have often called or written customer service to find out the exact rates being used to convert dollars to euros, for example. Customer service personnel are vague - they tell me that the bank charges a $5.00 processing fee and can charge up to - percent more than the going rate, but they wo n't tell me what the rate is. If I press hard on the issue, they invariably send me to the - Global Currency Conversion site - - which is the PREVIOUS business day 's highest rate, not that day 's rate, and includes this mind-boggling disclaimer : " Please note that due to possible rounding differences, the displayed rates may not precisely reflect the actual rate applied to the transaction amount when converting to the cardholder billing amount. The exchange rate that is applied to a transaction is the exchange rate as of the day of settlement which is the day that - determines the settlement amount to be exchanged between the acquirer and the issuer. The settlement


Number TWO : Can banks actually post the rate they are using on their site and quit cloaking the matter? Number THREE : When I look at my withdrawals using the MC Global Conversion rates for that day or the previous, they still do n't add up correctly. It appears that my bank at least is adding - percent or - percent on to the fee - in additon to charging their $5.00 withdrawal fee. Maybe it 's $4.00 more, maybe $7.00, but it never adds up correctly - and they 're already ripping me off with a bad exchange rate and ATM fees at both ends. ( I have a letter in with my bank now and if they do not answer to my satisfaction, I will file another complaint with details. ) The total effect for consumers such as me is that we 're being forced to buy something without being able to see the price tag - and the ATM never shows what is going to be withdrawn from my account if conducted in that country 's currency, which is cheaper than converting to dollars at the ATM. I find this cryptic, non-transparent behavior regarding access correct foreign exchange frustrating and simply wrong. This is a general complaint - because ALL the banks I 've used shield the information.