Consumer complaint received 2023-07-11
Company: CITIZENS FINANCIAL GROUP, INC.
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
Last month, I received a personalized mailer from Citizens bank addressed to me, inviting me to sign up for a promotion by opening a checking and/or savings account. I've had issues with Citizens bank in the past ( in particular them not providing a 1099 for an account I closed a year ago in XX/XX/XXXX for which I had to file a separate CFPB complaint that was resolved 2 weeks before I had to file my taxes ). I figured this was their way of trying to get me back as a customer. 

The terms of the offer are attached, but were basically that I could earn {$300.00} for opening a new checking account and having at least one single direct deposit of {$500.00} or more within 60 days. There was also a savings promotion for {$300.00} for having repeated deposits of {$500.00} over 3 months. I called and confirmed I was eligible for the offer, then on XX/XX/XXXX I redeemed the offer and opened a checking and savings account under the personal code that was enclosed in the mailed ( see attached screenshots of the redemption and accounts opening ). 

I immediately changed my direct deposit so that my XX/XX/XXXX payroll would be deposited in my new checking account and I would satisfy the terms of the checking offer. My plan was to slowly move my savings offer as well to meet the terms of the savings offer. However, I found the following week that I was no longer able to access the account online. I called customer service, the hold times were very long, about 45 minutes, and when I did finally reach someone, I was told to go into a branch to verify my identity. 

I went into the branch near my work at XXXX XXXXXXXX XXXX XXXX XXXX, NY XXXX on Tuesday, XX/XX/XXXX. I was concerned about not being able to access the account since it was now too late to change my payroll back. However, even the branch manager was not able to get in touch with anyone who could explain what the issue was with my account. Apparently the bank was going through a transition that day ( which had no advance announcement ) and the tech department that could address the issue was closed to handle that. However, finding that out after an HOUR of waiting was frustrating to say the least. I should mention that I am XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 

The following day I again waited on hold for over three hours : each time a representative said they were transferring me to the tech department they just transferred me to the main menu and I had to start waiting all over again. Eventually I gave up. I figured I would give the bank time to work through whatever online banking upgrade they were doing and I was assured that I could always withdraw my payroll once deposited at a branch. 

My payroll was successfully deposited on XX/XX/XXXX pursuant to the terms of the checking offer. However, I was unable to withdraw the funds at a branch for the same, unexplained issues described above ( I provided all my ID verification but the branch was unable to reach anyone at Citizens to unfreeze my account ). 

Finally, I received the attached letter in the mail yesterday ( the letter is dated XX/XX/XXXX, but perhaps because of the XX/XX/XXXX holiday I only received it Monday XX/XX/XXXX ). Instead of offering an explanation it simply says that they are closing my account. I have no idea why, and calls to customer service this morning as well as a visit to the branch has not yielded any information. 

The proximity of the letter to the date of my payroll deposit makes me think that Citizens is closing my account so they don't need to fulfill their end of the promotion. I met the terms of the checking offer ( depositing {$500.00} or more within 60 days of opening the account ), and so Citizens should honor the terms of the checking promotion and pay out the {$300.00} for that offer. 

By closing the accounts prematurely without any explanation, they are also preventing me from even attempting to meet the terms of the savings promotion ( an additional {$300.00} ), but since I hadn't started to meet those requirements, I am only asking that they honor the terms of the checking promotion. 

Unfortunately, I am unable to attach statements to support this claim since the bank has removed my online banking access and refuses to provide paper statements as well. However, when I call in, I am able to confirm that I have {$510.00} in my checking account and {$5.00} in my savings account. 

My attempts to resolve this with the company have been frustrating to say the least. I am at my wits end with this bank and will never be a customer, no matter how hard they try to get me back.

Company response to consumer: Closed with explanation