Consumer complaint received 2023-07-15
Company: CITIBANK, N.A.
State: AZ
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
I attempted to open a Certificate of Deposit account online with Citibank XX/XX/XXXX in the amount of {$50000.00}. The funds were never taken from the originating account, a non-Citibank account. The account was closed and I was not able to access what transpired online as it was a closed account. I called Citibank in late XXXX of XXXX and was told the CD did not fund. I considered this the end of this transaction. 

In late XXXX of XXXX, I received an IRS form 1099-INT in the mail showing I had interest reported on this account for XXXX in the amount of {$26.00} to the IRS. I did not receive this interest. 

I called Citibank in early XXXX of XXXX and asked for the form 1099-INT to be reversed as the account was closed without funding and I did not receive this interest payment noted on the 1099-INT. I was told to write a letter requesting this and send to Citibank, which I did on XX/XX/XXXX and sent certified via United States Postal service, return receipt electronic. The USPS report as of XX/XX/XXXX states they were unable to locate any delivery information in their records for my item. 

No corrected 1099-INT form was received as of XX/XX/XXXX. I called Citibank and spoke to a supervisor named XXXX. He stated the CD was issued, the funding bank requested the funds back and the CD was closed on XX/XX/XXXX. He created a case number and requested a Transaction Activity report. He can not tell us how or who the interest was paid to that is the amount on the form 1099-INT and stated he would work with the back office to see if a check was issued and has cleared. He was to call me back on XX/XX/XXXX. I did not receive a callback. 
I received the Transaction Activity report noted above dated XX/XX/XXXX via email on XX/XX/XXXX and subsequently via the US Mail in early XXXX of XXXX. 
On XX/XX/XXXX, I called Citibank. I was not able to speak with XXXX but spoke to a representative named XXXX and left a message for XXXX to call me back. No callback was received. 
On XX/XX/XXXX, I called Citibank again, was given to a supervisor named XXXX. She stated she would be creating a new case number to have the 1099-INT reversed as she stated she can not see in their system that a check was ever issued for the interest in the amount of {$26.00}. She requested this be expedited and could give me no specific time frame. 
I waited until XX/XX/XXXX ( three months ) and no corrected 1099-INT form or a check for {$26.00} has been issued to me. I called Citibank and spoke to a supervisor named XXXX. I again explained the circumstances and gave the case # 's given to me previously. She stated she would send an email to the research team to expedite work on this case/s. She was to call me back on XX/XX/XXXX at XXXX XXXX Arizona time ( MST ). No callback was received and I am now filing this complaint against Citibank.

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 explanation