SunTrust Banks review: fraud 4

When a check is deposited into an account, drawn on another bank YOUR bank has no indication if that is a good check or bad check unless the issuing bank contacts them to let them know. Due to electronic filing of checks and other automated systems, hold times have been reduced greatly. Your bank cannot be held responsible for your lack of care in depositing that check. The responsibility actually lies with the recipient of the check to ensure that check is good. As far as the hold is concerned. Most banks do a 24 hour hold these days. That hold doesn't mean the check has been verified and is a valid check it just means the bank is trusting you that it is a 'good' check. If it isn't, they will take their money back from your account. Just keep in mind, when depositing checks if you don't know the person/company issuing the check and/or you don't have a valid reason for getting the check it PROBABLY is fraud.

Banks lose trillions of dollars each year to fraud. When people complain about bank fees and so forth they never consider that each time you call the bank, and most of them are 24 hour a day call centers now, you can get a live person. The banks spend trillions of dollars each year in marketing, research and so forth to bring all this to you in the form of Debit cards, ATM machines fully stocked with money, you can access your accounts, via phone, online, IPhone apps, automated services and so forth. The average person keeps less than $500.00 in their account on a daily basis, yet will expect to get all of this for free, plus free checks, and no monthly maintenance fees for handling your accounts. Then to top it off, you bring in a strange check that you couldn't be bothered to verify and you think the bank should just lose that money? I'm sorry but understanding the banking world isn't hard, just stop thinking everything should be free accept personal responsibility for your actions.

The banks are businesses...your arguments in their defense are only half-valid. The only way to know for sure that a check is "good" is to have someone cash it. That is the bank's business; if it releases funds prematurely it is their responsibility. Once upon a time checks were physically sent through the federal reserve system - hence the "hold" on funds until they were validated. No problem - you wait for the money; you don't spend it until you have it. With the advent of debit cards, you cannot spend money that is not in the account - that is the purpose for having them. The bank takes a calculated risk if it releases the funds before they are validated; the current apps are being used to exploit the banks' willingness to provide a service to the client that is not fully explained. This is fraud as well.

If banks lose trillions of dollars every year because of bank fraud. I'd like to know why they do not actively pursue the indictment and prosecution of those who commit this crime? The penalty for emptying your checking account through a scam is, if the bank even attempts to discovers who's responsible, amounts to a fine. You know, like a speeding ticket. My conclusion? Allowing fraud to flourish must be advantageous for the banking industry. Why else would they allow it to happen? Believe me, the banking industry has a large number of lobbyists on state and local levels. If they wanted to greatly reduce this crime, or eliminate it, they would. A few years ago if you committed arson. The insurance company holding the policy on the structure would prosecute you and demand the max penalty. You would go to prison longer for arson than you would for murder. Something smells here.

The money taken out of my checking account ending in 7184 on October 8, 2021 is fraudulent. This check 655 was originally made for 115.00 dollars to First Premier Bank for a credit card bill for my son. This was mailed from Columbia Md on September 17, 2021, than sometime after that, the check was stolen, whitewashed and deposited by mobile device on October 7, 2021 for the amount of $4503.00, resulting in the money being taken out of my account on October 8, 2021, the bank never notified me, I found out when I was overdrawn through email, while in New Jersey. Been with SunTrust for over 10 years they know my history and they know my handwriting, customers of SunTrust no common sense, it does not matter you are guilty until proven innocent by SunTrust (Truist). To this day SunTrust has never initiated a conversation with me or called me about this matter unless I do the initiation. This should have never been taken out, not my handwriting, talked to SunTrust, filed a case, and also filed a police report with local and federal, since it was deposited over a mobile device. SunTrust (Truist) has lied to me, said I would have my money back in 15 days, I still do not have it back, and they have cost me a move to New Jersey for a job, loss of employment, destroying my credit, cannot pay bills and have late charges. I have also borrowed money from my family now to start paying back this loan of which I do not have. What is such a consequence, which I don't believe in, the loan was deposited on Oct 5, 2021 by Oct 7, 2021 the mobile deposit was made according to the back of the check, to Fidelity, but now fast forward SunTrust after over a month of finally getting a call from a bank investigator said the Bank of First was Chase Bank, after working with Chase Bank for over 2 weeks and sending them everything, they came back with a closed investigation, they were not the bank of first, my opinion SunTrust is the bank of first, once again they have lied to me. With the destruction SunTrust has cost me, my job, my son's job, credit, late bills, borrowing more money from my family, I am now going to take this to a different level. They will not work with me, I have witnesses and proof but they are refusing to return my loan money and fees. Finally after filing with CFPB, the Truist client advocacy person called me, actually her whole title is "Assistant Vice President, Client Resolution Senior Specialist Client Advocacy SunTrust now Truist", what a wasted phone call, it was useless and she is no advocacy for anyone. She was patronizing, had absolutely nothing to say and was not helpful, she almost seemed giddy about my situation, if this is what Truist is surrounding themselves with, we are all in trouble. Now heading into the end of November with no resolution in sight, I am now having to go in a different direction, it is sad when a bank feels they have the power to steal from their own customers.