I had a personal checking account with Suntrust. The account and relationship were over 15 years old.
My busy family consists of a wife and 2 beautiful young kids. I am a high net-worth individual. As a result, I tend to shop online heavily. On or about November 2016 I was informed that I was performing too many transactions with "Amazon" and "eBay/Paypal." I was stunned by the notice and am still perplexed how my spending patterns are a problem for the bank.
It is my right to use my money how I wish. This is America after all. In any event, I was told by Suntrust's regulatory team that if I cut down the transactions I could keep the account. Despite cutting the transaction activity by 50%, on January 25th 2017 Suntrust ordered me to close my account by February 24th 2017.
Again, I complied with their unusual request and still they decided to terminate my account. In summary, Suntrust Bank has terminated my bank account because I spend too much at "Amazon and eBay/Paypal." I am perplexed by the bank's decision to close my account because I spend too much.
Product or Service Mentioned: Suntrust Checking Account.
Reason of review: Poor customer service.
Preferred solution: Let the company propose a solution.