ATLANTA – Truist Bank Freezes Large Checks for Georgia Business Owner

For almost six months, Truist Bank has been holding checks over $30,000 that a Georgia woman deposited into her business accounts.

“Is that what you’re going to do, keep that money forever?” Christine Knipp questioned.

Back in November, Knipp opened a new business account with Truist, depositing a check for $30,088.90 issued by the IRS.

This check was part of the employee retention credits, intended as pandemic relief for her ballroom dance studio.

Knipp has owned the Ballroom Dance Club in Metro Atlanta for 30 years.

Although she sold the business during the pandemic, she didn’t receive her tax credit until last year.

“The idea was to help cover some of the bills accumulated during the pandemic, especially since I had two businesses in Atlanta,” she explained.

However, instead of receiving the funds, Truist closed her account and seized her money.

In letters sent each month, Truist informed Knipp that they had the right to freeze the account until they could verify the checks and ownership.

“I’m planning on using that money. I’m retired. There’s plenty I need to take care of,” Knipp stated.

Previously, I had mentioned similar issues happening at other banks.

Last June, Citibank held a $5,000 check for social media influencer Rich Journey for three months.

“They wouldn’t even tell me why my account was frozen,” Journey said.

Another case involved Shelley Camp, whose online bank account was locked due to fraud alerts regarding her IRS refund.

“It’s a huge mess. Just a big mess,” Camp commented.

In 2023, Chase also blocked Lois White’s check from the federal government meant for student loan reimbursement.

“I feel like I’ve done something wrong. I feel like a criminal,” White expressed.

Knipp said she spends hours weekly trying to resolve this issue. She has filed complaints with the CFPB and FDIC, but her money and the IRS’s funds remain unreturned.

“All you have is your time and your money, and they’ve drained both,” she remarked.

In response, Truist stated, “We’re committed to resolving the issue.”