Consumer complaint received 2022-11-23
Company: CITIBANK, N.A.
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
XX/XX/2022 : I initiated a domestic wire transfer from my personal checking account in the amount of {$120000.00} USD on XX/XX/2022 ( Saturday ). I was informed that the wire will not formally begin until XX/XX/2022 ( Tuesday ) since XX/XX/2022 ( Monday ) was a holiday. It is very important to understand that the wire took place in XXXX XXXX XXXX. It went from Citibank in XXXX XXXX, California to XXXX XXXX XXXXXXXX XXXX  in XXXX XXXX, California. 

XX/XX/2022 : I went into my local Citibank branch to ask why my wire did not go through on XX/XX/2022, they said it was withheld for an unknown reason. Upon reviewing my wire receipt, I quickly figured out it may be that there was a typo in the beneficiary name, one letter was wrong. However, the routing number and account number were correct. Due to the time-sensitive nature of the wire, I was closing a real estate transaction I initiated a second wire for the same amount being sent to the exact same bank and account, with the correct spelling of the beneficiary. The second wire went through the same day without a problem. I informed the bank to simply continue to try to get my first wire through and upon the beneficiary 's receipt, they would simply send it back. 

XX/XX/2022 : I followed up with Citibank since the initial wire was not received by the beneficiary or its bank. At this point in time, I requested that the wire transfer is canceled and the funds returned to my account. The relationship manager and branch manager ( s ) petitioned the wire department to release my funds back to me. They asked for documentation regarding the LLC ( I provided what was available for public record and on the State of California 's website ) and the real estate transaction ( I sent in a copy of the Grant Deed showing the LLC as the Buyer ). 

XX/XX/2022 : The relationship manager and branch manager were informed that the monies are being held and that I need to contact them directly. They relayed the info to me. 

XX/XX/2022 : Spoke with Wire Department - I asked where is my money, and her response is the money is with OFAC - Said it is under review with them, not in Compliance - I asked if the money was with Citibank specifically a couple of times, but the response was not clear and opaque in other words, could not confirm nor deny - Forwarded to Supervisor - Supervisor noted that my case was escalated by another supervisor on XX/XX/2022 the request was to Sanction Teams in XXXX, XXXX, XXXX XXXX on hold for review- I asked how it end up there since this was a domestic wire, not an international wire - In addition, I mentioned the money never made it to XXXX XXXX XXXX - She said that OFAC randomly freezes wire because of the recent sanctions put in place- I asked if it was by mistake and how I ended up on the list. She said Im not on the list, it was random. 
- I stated that this was Citibanks wire departments mistake and said they lost my money and need to get me out of this mess which is not my doing. Her response was we know where the money is and it is secure. 
- No estimated time on and if my money would be returned. 

XX/XX/2022 : Spoke with Wire Department Supervisor.

- Said that they have not heard back from OFAC yet. 
- I asked if I could provide any additional documents, they said no. 
- No estimated time on and if my money would be returned. 

XX/XX/2022 : Spoke with Wire Department Supervisor.

- Said the my wire in now under review with compliance department with Citibank. 
- No estimated time on and if my money would be returned. 

XX/XX/2022 : Spoke with Wire Department Supervisor.

- Said that they are waiting to hear back from compliance 's final decision whether or not they would return my money. 

XX/XX/2022 : Spoke with Wire Department Supervisor.

- Said that they are waiting to hear back from compliance 's final decision whether or not they would return my money. 
XXXX Said would escalate once again. 

XX/XX/2022 : Spoke with Wire Department Supervisor.

- I asked Citibank to provid to me in writing that they are holding onto my wire funds and the reason behind it, they said they would email me within 48 hours. 
- They also mentioned the next time I wanted to wire money I should apply for a license with the Department of Treasury ( OFAC ). I told them I've never wired money overseas and that I have no need to apply for such a license. I mentioned that it was a necessary recommendation. 

XX/XX/2022 : Spoke with Wire Department Supervisor.

- Said that they are waiting to hear back from compliance 's final decision whether or not they would return my money. 

XX/XX/2022 : Spoke with Wire Department Supervisor. 
- Said that they are waiting to hear back from compliance 's final decision whether or not they would return my money. 
- I asked for an update in regards to Citibank 's letter I requested on XX/XX/2022. He said he would resubmit.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief