Suntrust Internet banking - error by Suntrust cost consumer

December 7, 2001:

From:

RE: Internet Banking with Suntrust

Before writing a check to pay the bills, a person with good credit normally checks the available balance of the his/her bank account. I switched from writing checks to internet banking with SUNTRUST for convenience, so I could pay bills on-line.

As my bills came I went on-line with Suntrust internet banking and paid bills after checking the balance posted on my checking account to make sure I had enough to cover the payments. I also had my employer deposit my pay check automatically to that checking account. When you request to pay bills on-line it goes to a pending table until the funds are released and cleared and deducted from your account balance.

This became a routine to check the pending payment table, check the account balance to make sure and then pay the bills. I trusted whatever Suntrust was posting in my account so that I didn't bother balancing my check book anymore. This was my big mistake by trusting SUNTRUST.

One night I logged into my Suntrust Internet Banking, I checked my pending table which was empty, which means all payments were cleared and deducted from my account. I saw enough balance posted in my account, so I made, I believe six early on-line bill payments. To my surprise, Suntrust hit me with insufficient funds on all those bills. Not one, but all of them at $29 each.

I was so upset that I fell into this trap. I called the bank and asked why my account showed NO pending payments and had sufficient balance in my account to cover those checks I wrote. They credited me for one transaction only and they fined me for the other ones. Why would I make early payments on those bills if I knew I didn't have enough funds. I could have waited for my next paycheck.

I went searching in the internet hoping to find a site where I could voice my complaint and I saw a website where another person had the same bad situation I have. So, I have confident in me that it was not my mistake because prior to my experience, someone had already been a victim of this trap. Suntrust knew about this but did nothing about it. Either Suntrust internet banking is unreliable or it is scheme to earn revenue from trusting customers like me.

I closed that account and signed up with Community Bank internet banking. This bank is far more superior than Suntrust and honestly know the pitfalls and are protecting us customers. Community Bank internet banking will show you what they call "Express Balance", which means while your pending payments are in process, your account is showing unposted transaction and the would-be balance when the funds are distributed.

Now why can't big bank like Suntrust don't have the brains to do something like this, or maybe, it's just another way for them to make money. Like I said I wasn't the only victim of this trap. I hope this will be a warning to all and I would suggest if you are a Suntrust client, you've better watch out or better yet, stay away.