Truist merger causes delays for SunTrust customers

Customers were expected to be able activate their credit and debit cards last week, but many aren't.

Truist has made another move towards completing its long-running merger with SunTrust and BB&T during the long weekend of Christmas - with some minor hiccups for customers.

When SunTrust switched to Truist products last weekend the bank reported that some customers were delayed when they tried to utilize the newly-created Truist debit cards once the cards were activated. This issue has been resolved Monday, according to the bank.

The bank didn't disclose how many customers were who were affected by the delay, even though it was only a "limited" number according to the Truist in a letter to the Observer.

"We apologize for any inconvenience that this could cause our customers. We appreciate their patience as they transferred SunTrust items to Truist this past weekend,"" The bank stated.

However, a number of customers have taken on social media to voice their concerns about the issue. They claimed that the delay caused the cards being declined and caused problems when it came to accessing their funds as well as shopping during Presidential Day holidays when branches were closed.

Also detials: https://cardsactivation.com/

About BB&T

BB&T is among the largest financial holding firms within the U.S. with $236.8 billion in assets and a market capitalization of $40.9 billion at the end of September 2019. 

With a long history with excellence and community bank services, BB&T provides a broad array of financial services that include commercial and retail banking, investment insurance wealth management, wealth management corporate banking, mortgages capital markets, as well as specific lending. 

It is headquartered at Winston-Salem, N.C., BB&T has more than 1 700 branches across 15 states as well as Washington, D.C., and is regularly recognized for its outstanding customer services through Greenwich Associates for small business and middle market banking. 

More information on BB&T and its entire range of services and products can be found at BBT.com.

Also detials: https://cardsactivation.com/suntrust-card-activation/

About SunTrust

SunTrust Banks Inc. (NYSE: STI) is a mission-driven business committed to lighting the Way to Financial Health for the individuals, businesses and communities they serve. SunTrust is a leader in Up the national movement that encourages Americans to improve their financial self-confidence.  

Its primary affiliate, SunTrust Bank, operates an extensive branch and ATM network in the fast-growing Southeast as well as Mid-Atlantic states, and also provides 24/7 access to digital services. Certain business lines provide services to consumers commercial, corporate, and institutional customers throughout the nation. 

At the end of September in the year 2019, SunTrust has total assets worth $227 billion, and the total amount of deposits was $168 billion. SunTrust provides credit, deposit and mortgage services, as well as investment, assets management, brokerage services for securities and other capital market-related services. Learn more about the company at SunTrust.com.

Forward Looking Statements

This document contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, concerning its financial situation, the results of operations business plans, and the performance in the future of SunTrust and BB&T. 

SunTrust. The words include "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "could," "may," "should," "will" or similar terms and expressions are used to identify forward-looking statements. 

These assertions are made based upon BB&T's as well as SunTrust's expectations as of today and their assumptions about SunTrust's business and the economy, as well as other future events. 

Since forward-looking statements refer to future events and results that are not guaranteed, they are subject inherent risks, uncertainties and changes in the circumstances that are hard to anticipate. 

A variety of events or conditions can affect SunTrust's future financial performance and performance , and may cause actual results to differ significantly from expected results or results. 

These risks and uncertainties include, among other things the possibility of any events, changes or other circumstance that may give rise to the possibility for either or both parties to end the definitive deal with BB&T and SunTrust and the results of any legal proceeding which may be brought towards BB&T or SunTrust.

SunTrust, delays in the completion of the transaction, or failing to meet any of the conditions for the transaction in a timely manner or even there is a possibility that expected benefits of the merger are not realized as expected or at all because of the effect of, or issues arising from the integration of the two firms or due to the growth of the economy as well as competition in the regions in which BB&T and SunTrust are operating, 

there is the possibility that the deal could be more costly to complete than expected, for example due to unexpected situations or events, the diverting of management's focus from the ongoing business activities and opportunities, 

the possibility of adverse reactions or changes to the business or employee relations, which could result of the announcement or the completion on the acquisition, capability to successfully complete the transaction, as well as the integration between BB&T and SunTrust successfully, and also the diluting effect of BB&T's issue additional capital stock to facilitate the transaction. In addition, unless required by laws or regulations the parties BB&T and SunTrust does not undertake to revise these factors or publicly announce the outcomes of any changes to any of the forward-looking information that are contained in this document to reflect any the future developments or events. 

Additional information on BB&T, SunTrust and factors that could impact the forward-looking statements in this document is available in the BB&T's Annual Report on Form 10-K for the fiscal year ending the 31st of December, 2018 and its quarterly Reports in Form 10-Q as well as various filings with Securities and Exchange Commission ("SEC") as well as the SunTrust's Annual Report on Form 10-K for the year ended on December 31st, 2018. which is updated in its quarterly Reports of Form 10-Q and other filings made in the SEC.