Complaint Review: Suntrust Bank - Atlanta Georgia

Robert's response was exactly correct.  First of all - I used to work at Bank of America and still keep one of my accts there.  They also have stipulations on receiving a free account.  Although I do work in banking still (23 year banking veteran) at another large bank - I did a quick look into how to avoid the monthly fees at SunTrust online.  Through their "Rules and Regulations" and "Personal Schedule of Fees" which EVERY bank is required to have readily available in the branches and online (where I found theirs).  This is what I found:

    1.  You were wrong on how to avoid the monthly fees.... you do NOT have to maintain a $5,000 balance to avoid a monthly fee.  Only one of their accounts require that balance - they have another option on an account that will not charge you a fee if you have at least 1 monthly direct deposit in your account  or  keep a balance of $500.  That actually is very similar to changes many other banks have made (including the one I work at).

    2.  Illegal?????  Did you really say that???  You lost SO much credibility here.  When people state facts - I listen.  However the minute someone (amusingly) claims to know the banking laws I shut down the conversation and let them know that I will no longer converse with them and they can have their attorney contact our legal dept.  Please, please educate us on where you received your facts about the illegal activities that your bank has conducted.  But to save your dignity - read the disclosures on the website of this bank - and any other bank that you will be transacting with.

 Reporting a bank to Federal Reserve, BBB or whatever other agency that makes you feel empowered will go nowhere if you do not have any facts backing up your complaint(s).  I am personally elated that most banks (including SunTrust! Which it seems like you were not aware of either) backed off the monthly checkcard fee.  So my advice to you is to educate yourself before posting.  Many other complaints against all banks on this site appear to be from people who have issues on using their check registers - which would solve a lot of issues.  Are there ridiculous fees that are rising?  Sure - at most banks this is happening.  Choose your next bank carefully....

Sorry for your loss.   A win for the consumers.  Thanks to all who received the letter about the $5000 minimum and fought it.  We helped win the battle for people like you, Pixie!  No need to thank us, unless of course you are a supporter of big banks...which I am sure you are not as that would be just weird.  enjoy.

"Suntrust's solutions, keep $5000 in your account and they won't charge you!  Laughable!  Ridiculous and illegal."

Does the above look familiar. That is what you said Pixie987.

Thanks to the millions of educated consumers who WON this terrible battle against the big Banks like Suntrust and Bank Am.  Good Work!  

I got a letter from Suntrust that said starting on November 7, 2011 they will be doing away with "free checking" and that all my accounts would be "everyday checking" with a maintenance fee of $7. It also stated that I would NOT be charged the maintenance fee if I keep a daily balance of at least $500 or if I make a deposit of at least $500. I don't know where you got it had to be at least $5,000. So for anyone who reads this, it's a $500 minimum NOT $5,000.

Oh, and one more thing, they have kept their word, so far and I'm pretty sure they will continue doing so.

Suntrust Customer

It's clearly on their website.

You can get free checking if you keep a min of $500 or have direct deposit.

All big banks are doing this.  Not just Suntrust.

In a way keeping $500 as a minimum is not a bad idea?

It tends to keep people from overdrafting.

I encourage giving back to your local banks to show your appreciation of the fine "services" they provide.

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Don't make any payment arrangement with suntrust bank,   on your vehicle they will back stab you and repoe It the best thing to do to fight back Is file for bankruptcy that way they can't take It.

if you have a credit card. Not everyone can get a credit card, especially with the banks being paranoid right now.

Great points and you are exactly right about the logistics behind the banks raising their fees.   However, the Banks are not about to admit jsut how much money they do make on uninformed consumers.   The point I make, and I have to correct you, is that the bank will not make their money on my debit card.  I simply support not using it.  Using atm/cash for most people would be a trip back to the 70's.  However, people can avoid these fees if they are clever.  Avoid the checking account fee by using direct deposit.  Avoid the check card "usage" fee by not using it.  use a credit card (Suntrust did away with its rewards program anyway) that gives you cash back or airline miles.  Then simply pay the credit card bill with the Banks free bill pay service.  Again,  just like paying sticker price for a new car... why?

The whole reason banks are imposing their fees are because of the new laws on overdraft fees. The federal government started regulating overdraft fees and took a significant chunk of bank profits away. It was said at the time this law passed that more and more banks would start charging fees for "free" accounts in the future. I look for this to spread more in the future. Especially with the government regulating how much banks can charge merchants for debit card transactions. The Dodd-Frank wall street reform act just recently capped the transaction fee charges to buisinesses at 12 cents per transaction. That's why you are paying to use your debit card now, since the banks cannot charge the merchant any longer they will begin to charge you. Look for it to only get worse. None of these new laws are actually protecting consumers, they are simply encouraging banks to begin to charge higher fees to use their service.

As for using your debit card, I don't use one for everyday purchases. My local bank has many ATMs and I simply withdraw the money I need whenever I need it. Its not hard, and I avoid fees by doing things that way.
 
and I am still not a banker. I work in manufacturing.

You have got to be a Banker.  lol.  Anyone crying so loudly about what amounts to the fact that our President has done great things to help deter the inequities and downright immoral behavior of such banks.....  Thank goodness we have someone in the White House who can continue to fight for what is right.  Too bad the banks (and bankers) keep using it as an excuse to charge all of the rest of us these ludicrous fees.   What about all of those folks out there that can't really afford a few extra dollars in fees?  How easily we forget them.   And by the way, consider a little help with your anger issue.  It's really apparent, and frankly, shows your lack of knowledge and experience. 

And why would anyone have a check card and not use it?   That isn't logical.  Who, besides a couple of 89 year old grandmothers, actually write checks or, for that matter, even use cash?  i.e atm card on a regular basis.  In other words, your logic is skewed.  The $5 that sundistrust charges to use YOUR check card (1 time or 50 times) is simply to make up for funds lost in poor economic times.  If you want to help Suntrust out, then pay it.    By the way, I've banked with BA for many years, no problems.  But you are correct about the multitude of complaints against them, as with most money makers/banks.  When consumers act with a brain and coordinate their efforts against such companies, they can make a difference.  Paying a bank for their services is one thing.  Paying too much for their services is another.  That's what most uninformed consumers fail to get.  And bankers!  But to each his own.  Why not just pay sticker price on a new car?  or instead of a coupon for toilet paper ask to spend more for it.  One thing I have learned from many responders on this website and others...they fail to see the long term consequences of their "head in the sand" mentality.  

Now that I've shot down your first response urge.....you're wasting your time and energy on this so called "Ripoff".

Others on here have said the bank is doing NOTHING illegal and they are completely right.

I hope you do change to Bank of America and find out what fun that can be.  They are also being sued by the Feds for bad practices.

You provide ONE link to where how your banks action is illegal and I'll apologize.

You are also wasting the Federal Reserve, the BBB and the Consumer Protection Agency's time with all this....you might as well also waste the FTC's time, as you seem to have forgotten them in this little drama.

All you have to do to avoid ALL the fees by Suntrust is close your account(s).  That, alone is how you opt out of these new account rules. They have every legal right to impose them.  Whether or not it's good business practice is at their risk.

If you feel you really must "fight this until the end", go for it.  Most people have better things to do than fight hopeless causes. A little curious though, until the end of what?

Write your congressional representatives and thank them for helping re-write the banking laws giving breaks to dead beats at the expense of the rest of us.

One of the better rants I've seen here lately.  :)

The author left out some information on this bank:

The 5$ fee is only assessed if you wish to use a check card with the account. You can pull cash out of ATMs for free, you can write checks for free, and you can visit a teller to get cash for free. You only get charged the fee if you wish to have a bank issued debit card.

The rest of these folks are right, the bank isn't doing anything illegal. They can modifiy your account at any time by simply providing you advance notice. Also, you say to switch to bank of america, have you looked up bank of america on this site and seen the thousands of complaints again them on this site? The same with capitol one and amex. You should probably research those companies on this site too.

Oh, and I've never worked at a bank in my life.

Please, no more comments from the Bankers out there.  As the other poster noted, we are pretty sure the Big Banks are mostly concerned about their pocket books,  Not the customers.   Again, spend less time being angry and more time fighting corruption and you will be healthier for it.

Best solution:  continue to use Suntrust's FREE billpay.  Throw your check card in the shredder.  Use AMEX or Capital One to scored some rewards while allowing Suntrust to pay your bills for you, FREE of charge.  Always a way to win!  Enjoy.

When you say the manager was "unconcerned," I take that to mean "he didn't break the rules that he has no control over for little ol' me."

Almost any account agreement can be changed at any time, that's just how it is.  They probably can't show it to you because you OPENED YOUR ACCOUNT FIFTEEN YEARS AGO and nobody has those documents anymore.

There's nothing "illegal" about having a minimum balance requirement in a checking account, throwing out crap like that just makes you sound ludicrous.

The financial regulations from the last couple years have cut profits for many banks to less than half, or even to a point of a loss, so, guess what, thanks to the government, we as consumers get screwed.
You can try going to another bank instead of getting all riled up.

Oh, and "dumb enough to pay the $5 without a fight?"  A fight with who?  The lowly manager who makes less than 50k a year to listen to your whining, who has nothing to do with the policy change?  I guarantee you it'll cost you a lot more to file a lawsuit (and LOSE) than just grin and bear it, or, just go elsewhere.

The bank hate here is insane.  People have no problem going to the store and paying for food, clothes, whatever, why should banking just be free?  It's a service!

I'll "hold on" to it for you.

While I'm making big profit laundering and doing dirty things with it (and making the economy worse) you will also pay me for my trouble!

And any chance I get to skim a little more out of you, believe me I WILL!

Because I'm a SCUMBAG!

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Sounds like you may be a banker.  Suntrust, by chance?  The only lazy person here would be people like yourself that would be dumb enough to pay the $5 without a fight.  I suggest you spend less time criticizing those trying to help fight out of control conglomerates and actually do something about it yourself. 

A policy change is not illegal and not a rip off.

Suntrust's solutions, keep $5000 in your account and they won't charge you!  Laughable!  Ridiculous and illegal
- Please tell us the exact law that makes it illegal.

Well I know you won't answer that because there is no law.  You can call it ridiculous if you want, but it is not illegal.  You will find that most banks(and yes Credit Unions) are starting to charge for accounts that were previously free if you don't meet new requirements.  Such as a minimum amount in the account or minimum number of debit card purchases.  The reason is that the government changed regulations taking away what was basically a source of income for them so they need to make it up in other ways.  So instead of having a small percentage being hit with fees for their lack of responsibility they hit everyone with fees.

I called Suntrust Corporate and nowhere could they show me in my  agreement that they had the right to change the account or check card.
- I can guarantee you that if you actually sat down and read it you would find that they have the right to change if they give you notice...and they did.

I have reported them to the Consumer Protection agency
- Never heard of them, can you tell me what they do and how to get in contact with them.

Class action suit anyone???
- Yes the cry of the lazy and uninformed.  Go look up what it takes to even get a Class Action Law started and then you will see how that statement actually sounds.

I will say that if they are only charging you $5 that is on the lower end of these fees, as I have seen some banks charge up to about $15/month for a basic account.