Consumer complaint received 2018-03-07
Company: CITIBANK, N.A.
State: CA
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
I opened a trust account with Citi Bank in XXXX XXXX California in XX/XX/XXXX. I advised the account specialist that I would be having a few large wire transfers made to the account due to a sale of real estate that was associated with the trust. The setting up of the account went fairly smoothly and I went on my way. 

In the up coming week or so one of my properties sold and I gave the escrow company my new banking account information at Citi Bank so that the funds could be deposited. 
Everything went well and the wire transfer made its way to my account. I logged in a few times just to check my balance, and to make sure that all the funds were accounted for. 

During the next few weeks I received a call from the account specialist that I had set the account up with, but was unable to answer her call due to being out of the country and not wanting to incur any large cell phone bill. Also when I did listen to her message she just stated that she would like for me to call her. I believed that she was just calling to ask if everyone went ok with the wire transfer and if I had any questions. Never once during her message did she say that it was important that I call her. 

Upon arriving home are being gone for some time, I opened my mail and had a letter from Citi Bank stating that they were going to close my account after a recent review! Also stated in the letter Citi Bank stated that due to the " terms and conditions of your Citi Bank Client XXXX, they reserve to close your account at anytime ''. That there decision was based on a review of bank information and records. That my account wound be closed on XX/XX/XXXX and any Citi Bank ATM or debit cards for this account will be canceled 5 days before. Citibank also stated that they would mail me a check for the remaining balance in my account after it closes, and that if I had any question please visit my nearest branch or contact customer service, phone numbers were provided. 

Well to my surprise I was shocked to hear this and was worried about the wire transfer of {$160000.00} that Citibank had in their possession that was going to be MAILED to me in a check. I immediately got on the phone to a Citibank Priority Customer Service team member and inquired about my funds. I was told that the funds would be mailed in 7 working days to my mailing address which she double checked. 

I waited the 7 days with so much XXXX! Hoping and praying that nothing was going to happen and the check would arrive. Going to my mailbox on the 7 day and finding to check I Immediately got on the phone again with the Citibank Priority Customer Services and inquired about the monies, but this time was told that the check hadn't even been cut yet and my information had been sent over to another department. As you could imagine I was very upset and inquired why? But wasn't given any information that I could follow and find out why. I decided after hanging up with that department I would head on over to the bank the next day. 

When I arrived at the bank the following morning I spoke with the account specialist that had helped me open the trust account. She stated that she had called me because the bank needed more information on the trust, and because they weren't able to reach me they decided to close the account! I asked her why hadn't she left in her message that the bank needed more information, or that it was very important that I call her back, as I thought she was just giving me a curtesy call. She couldn't explain why! Just that she did call. At this point I didn't want to go through the idle chatting, just wanted to know where my {$160000.00} was. She got on the phone and called her bank customer support, and explained that I was there and wanted to know what was going on with my funds! She didn't get anymore answers than I did, just that it was sent to another dept and that they couldn't give her any information on when the check would be mailed, or what had happened. She got off the phone and relayed this information to me. Again I was upset and demanded that I be cut a check from the bank that took my money. She stated that, that would not be possible and that she had no more information for me. I stated that Id need to contact a lawyer, and left the bank. 

When I got into my car I decided to call customer service again and ask to speak to a supervisor or someone else that could give me the answers that I needed. I finally got a supervisor that said '' if you don't receive your check in thirty days, give us a call back ''. I wasn't just going to take that for an answer and demanded more. She transferred me to the branch service support unit, but told me that if they didn't answer Id need to leave a message because she couldn't give me a direct number. I agreed and had to leave a message stating my phone number, name and reference number from the letter that Citibank had sent me. 

I then decided to make a call back to to bank and speak to the branch manager and explain to her what was going on and she if she would be of any help. The manager stated that she had heard a little about what was going on and let me explain the ordeal further. She said she that she would look into further and see what information she could get me and call me back the next day. She took down my name and phone number and said she would get back to me. 

I haven't heard from the branch manager nor anyone from the branch service support unit where I left a message. I haven't gotten any information on when I would receive my {$16000.00} or what happened in the first place! Its like the bank got my money and then took it from me by closing my account because they could! I don't know how this could happen, but just want whats mine!

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