Consumer complaint received 2022-11-19
Company: CITIZENS FINANCIAL GROUP, INC.
State: AL
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
This is a complaint regarding Citizens Access, whereas appears to be a bait-and-switch. As I will explain, opening online requires three steps, 1-Product Selection, 2-Account Terms and 3-Funding. However, the most important part here is initial bank-to-bank verification of test deposits to etablish funds transfers. Notably, linking funding accounts doe snot warrant an autmatic withdraw from another financial institution prior to this because of XXXX XXXX XXXX identifiers to secure from fraud. However, in opening accounts, the methodology was used to look-up and ensure FDIC coverage amounts for each account level. At setp 3 there is no confirmation that you are actually doing an immediate funds transfer or giving authorization for Citizens Access to do so. Thus, they pulled {>= $1,000,000} in total into the accounts and their system only aggregates data and does not display the transactions, pending, or schedule transfers. This was premeditated. It appeared as if funds were simply wiped out of another insitution without my knowledge or consent. Becuase they were and was initially a hypothetical for future near term banking in establishing or opening each account. Shortly after XX/XX/XXXX, I voiced my concerns to the night floor manager who only would identify himself as XXXX. Who understand the system limitations, how they caused confusion and were improper or misleading and were being worked on to be updated to correct such limitations and obvious misconceptions. It also appears none of this has been updated as of yet today-leading my speculations further. I was also charged three returned item fees by the other financial institution at {$5.00} each or a total of {$15.00} which XXXX agreed to aply back as a courtsy on my account. Since then then and until today, nearly a month, no {$15.00} credit has been provided and I have called twice, including online chat, whereas I have been told the credit honor was eing applied within two days and its on the ledger to be applied. Each time, I am simply misled. XX/XX/2022 XXXX XXXX  would not warrant the transfer yet because the scurity processes had not even been confirmed. Somehow, Citizens Access still widely incurred and took those funds without full authorization between myself and XXXX XXXX. You will see a bank statment from Citizens Access, Beginning XX/XX/2022 Through XX/XX/2022 Online Savings XXXX which was closed and all accounts solvent because I was unable to have XXXX XXXX  accept or approve Citizens Bank becaus eof security, yet, it was done over a month. But that account was closed and I opened four new as indicate, as attached. Therefore, there was no standing agreement or authorization for the new bank accounts to be eligible until verified first with XXXX XXXX  for the funds transfer requests ( bank-to-bank ) to be allowed. Hence, only XXXX authorization for $ XXXX was approved on my end once and only one, that XXXX had to approve the relationship, instead as you will see, Citizens Acess pulled three time that amount by err of systems.

Company response to consumer: Closed with monetary relief