Merger Truist causes delays for SunTrust customers

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Last weekend, SunTrust customers experienced some disruptions in the transition to Truist products, the bank said. The combination of SunTrust and BB&T in Charlotte this month is fully renamed.

Knikouyeh@charlotteobserver.com

Truist has taken another step towards completing its long-standing merger of SunTrust and BB&T over the long holiday weekend – with some irregularities for customers.

During SunTrust’s transition to Truist products last weekend, the bank said some people felt delayed in being able to use their new Truist debit cards after they were activated. The issue was resolved on Monday, the bank said.

The bank did not disclose the number of customers affected by the delay, although it was a “limited” number, the Truist said in a statement to the Observer.

“We apologize for the inconvenience this may have caused to these customers and appreciate their patience when we transferred SunTrust products to Truist last weekend,” the bank said.

But dozens of customers have turned to social media to complain about the problem. They said the delay led to their cards being rejected and causing problems with access to their funds and shopping on Presidential Day holidays when branches were closed.

“I activated my new Truist debit card only to be denied wherever I tried,” said one user. wrote. “Banking holiday – no one is in the branch, the SunTrust card no longer works. In standby mode with Truist for 50+ minutes… is there any help @TruistNews? It’s a terrible start. “

“Check out your friends who are Truist customers. Today they are not in order, ”another user said wrote. Customers also went to Truist’s Comments on Facebook to complain.

The end of a “busy journey” for Truist

After more than two years since the former banks announced the merger in 2019, Truist is completing a “major transformation” into its new name and brand this month. All BB&T and SunTrust customers will be transformed into Truist products and digital platforms.

Customers may have noticed that there are sign switches around Charlotte.

Truist logo on the sign
Last weekend, SunTrust customers experienced some setbacks in the transition to Truist products. Truist

When the conversion is complete, more than 6,000 new Truist signs will appear in bank branches, office buildings and ATMs, CFO Daryl Bible said during a January earnings call.

The $ 66 billion merger – the largest in the banking industry since the 2008 financial crisis – proved to be an “intensive journey” for former BB&T CEO Kelly King predicted in 2019.

Truist has closed hundreds of branches, including several in Charlotte District. Bank leaders also had to contend with a pandemic that erupted months after the deal was completed.

But the Bible has told investors about profits that after the merger everything will be fine.

“Once the integration and conversion of all systems is complete, Truist will be much easier to operate,” he said. This will help the bank better serve customers, he said.

Truist is Charlotte’s second-largest bank with 16.2% of the metro market.

This story was originally published February 22, 2022 15:49.

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Hannah Lang covers banking and economic capital for The Charlotte Observer. She studied business journalism at the University of North Carolina at Chapel Hill and grew up in the same city as her alma mater.



Merger Truist causes delays for SunTrust customers

Source link Merger Truist causes delays for SunTrust customers