Consumer complaint received 2021-01-30
Company: CITIBANK, N.A.
State: PA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
Please help. I've not yet received the {$700.00} Citi Priority Package new account bonus despite having met all requirements. The bonus should have already been credited per the banks promotional terms. Ive spent hours on the phone with Citi & received verbal confirmation that the bonus should have been posted, but I have yet to see it ACTUALLY posted. I want the {$700.00} bonus posted immediately and a {$200.00} courtesy credit for all the time Ive spent chasing this incompetent bank. 

I opened Citi Priority Package checking & savings accounts on XX/XX/XXXX and immediately funded {$25.00} to the checking & {$50000.00} to the savings accounts. I held the {$25.00} & {$50000.00} in both accounts for more than the required 60 day holding period through XX/XX/XXXX. In fact. all the money is still on deposit as of today, XX/XX/XXXX. 

On XX/XX/XXXX, after having already met the 60 day requirement, I called & spoke to a Citi Priority banker named XXXX. I asked : a ) if he could confirm I met the bonus requirements, b ) if I could convert the existing savings account to a Citi " Accelerate '' savings account to obtain a slightly higher interest rate, and c ) if he could confirm that doing so would not jeopardize my bonus. 

XXXX told me : a ) I had met the requirements to receive the {$700.00} bonus, b ) the {$700.00} would be awarded to my checking account within 90 days of XX/XX/XXXX and so I should receive it no later than XX/XX/XXXX, and c ) he confirmed I was eligible to convert the savings account to an Accelerate account and this would not jeopardize my {$700.00} bonus as I had already met the requirements. He said I simply had to wait and the bonus would automatically be credited on or before XX/XX/XXXX. 

Today, XX/XX/XXXX, I spent over two hours on the phone with various members of Citi Bank 's customer service department, being passed around from one person to another. My calls were dropped on 2 occasions and I had to start all over again. The connection quality was horrible and some of the reps spoke barely understandable English. This is supposed to be a " Priority '' service account which carries a high $ XXXX monthly fee and high balance requirements to avoid such. Where is the Priority service? Where is any service? It is unacceptable I have to track down the bank to honor the bonus, spend two hours of my time on the phone, and ultimately be told theyll take up to 4 weeks to research it further!! It should in fact take 5 minutes for them to pull up my account, see I met the requirements, and post my bonus. 

I was also advised not to remove any money or close my account until they investigate. So in addition to wasting my time, Citi is " trapping '' my money for an additional period of time until they rectify this. 

Based on similar online complaints, it seems this is a common issue with Citi Bank. Shouldnt the bank should be investigated and fined for such practices? 

BOTTOM LINE : I should immediately receive the {$700.00} bonus and no less than a {$200.00} goodwill credit for the bank : a ) defaulting on its obligation, b ) wasting my valuable time with incompetent customer service personnel, and c ) effectively " trapping '' my money until this is resolved. 

Theres no doubt if this was a credit card account where I was late in meeting my obligation, the bank would be charging exorbitant interest, late fees and penalties. Therefore, my request is more than fair. 

If this is not resolved to my immediate satisfaction as above, I am willing to be a lead plaintiff in a class action lawsuit.

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