COBB COUNTY, Ga. — For a lot of long-time Atlanta residents, SunTrust was their hometown bank for decades.
The company merged with North Carolina-based BB&T to create Truist Bank in December 2019.
Over the long President’s Day weekend, SunTrust completed its conversion of all accounts and systems as part of its merger with BB&T to become Truist.
Several customers have reached out to Channel 2 investigative reporter Justin Gray over the past few days with similar stories of fraudulent activity on their accounts and that they can’t get anyone at Truist to fix.
It was almost a month ago that Marietta attorney Alan Manheim noticed a problem with his law firm bank account
“I noticed there was a withdrawal from my checking account of $3,620.90 for a check I did not write,” Manheim said.
It was a forged, fraudulent check.
Manheim said he thought it should be simple to get his money back.
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“You can’t get through. There’s nobody to answer questions. There’s nobody to take responsibility,” Manheim said. “There’s nobody to talk to.”
Complaint boards online show a long list of customers having problems with everything from accessing accounts to reaching customer service during and after the conversion.
A Truist spokesperson told Gray in an email:
“A small subset of our clients did experience individual challenges related to the President’s Day weekend conversion, including a delay in activating and using their new Truist debit card, which our teams have since addressed. This resulted in longer than normal wait times.”
A local branch manager told Manheim even they are experiencing the problems, according to an email he got back.
“I understand the wait times are outrageous as we’ve been dealing with the same hurdles in the branch,” the email said.
“There is no end in sight. Nobody can tell me anything. Nobody will tell me anything,” Manheim said.
A Truist spokesperson told Gray, since the conversion and the long customer service wait times it caused, the wait times are steadily getting better.
They also said they have escalated Manheim’s case, and someone will now be contacting him directly to fix the problem.
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The situation described in the article illustrates the challenges faced by customers during the merger between SunTrust and BB&T, resulting in the formation of Truist Bank in December 2019. As an expert in the banking industry with a keen understanding of mergers and operational transitions, I can delve into each concept highlighted in the piece:
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SunTrust and BB&T Merger: This event represents a significant merger in the banking sector, resulting in the creation of Truist Bank. Mergers of this scale involve integrating systems, accounts, and operations from two separate entities, often leading to transitional challenges.
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Truist Bank Formation: The convergence of SunTrust and BB&T under the Truist brand required a comprehensive conversion of accounts and systems. Such transitions can create disruptions in services, including issues related to customer accounts, accessibility, and customer support.
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Customer Complaints and Fraudulent Activity: Numerous customers reported experiencing problems, including fraudulent activities on their accounts. This situation highlights the vulnerability of customers during transitional periods when there might be lapses in security protocols or customer service accessibility.
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Customer Service Challenges: Customers faced difficulties in reaching Truist's customer service, encountering prolonged wait times and insufficient responsiveness. This is a common issue during major transitions in banking institutions when the support infrastructure might be overwhelmed or undergoing changes.
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Resolution Efforts: Truist acknowledged the challenges faced by some customers and attributed them to the conversion process. Efforts were made to address the issues, including acknowledging delays in activating new debit cards and improving wait times gradually. Escalation of individual cases, such as that of Marietta attorney Alan Manheim, indicates a concerted effort to resolve specific customer concerns.
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Media Involvement and Public Response: Channel 2 investigative reporter Justin Gray received complaints from affected customers, leading to public awareness of the challenges faced by Truist customers. The company responded to media inquiries, acknowledging the issues and efforts made to rectify them.
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Legal Implications: Instances of fraudulent withdrawals, like the forged check encountered by attorney Alan Manheim, raise legal concerns. Customers affected by such activities might seek legal recourse against the bank for negligence or lack of adequate security measures.
The complexities of bank mergers, customer service challenges, and security issues during transitions like the SunTrust-BB&T merger demonstrate the intricacies and potential pitfalls in the banking industry during such transformative periods.
