Consumer complaint received 2023-09-20
Company: CITIBANK, N.A.
State: NC
Product: Checking or savings account
Sub-product: Savings account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
On XX/XX/XXXX I opened a Citibank checking and savings account online because of their higher interest rate on their XXXX  XXXX account. After successful test deposits of {$25.00} each in my checking and savings account on XX/XX/XXXX I figured everything was safe to make a larger deposit. On XX/XX/XXXX I linked my XXXX bank account to Citi and transferred {$1300.00}. On XX/XX/XXXX I used their mobile app and deposited a check from my XXXX bank account for {$630.00}. On XX/XX/XXXX I tried to access my account online and my login credentials would not work and did not have access. I called customer service and the lady said I had a security alert and transferred me to the fraud department. She asked me if I deposited the check for {$630.00} and also asked what this check was for. I replied that it was to put in my savings account to take advantage of the better interest rates Citibank has. She also asked if I had been to Georgia recently, or California. I have lived in North Carolina for the past 10 years and haven't even left the state for at least 5 years. I repeatedly asked why my account was closed and that I needed the money I deposited back. All she could tell me was that my account was compromised and it would take 30-60 days to do their investigation before I would receive my money. She also said I would be receiving a formal letter in the mail regarding my account closing. As of today I have not received anything in the mail from Citi. 

After this I found the number to the Executive Response Unit for Citibank and called them on XX/XX/XXXX and explained my situation to the receptionist. The receptionist assigned my case to a lady named XXXX and she told me that she would have 15 days to investigate. So, on XX/XX/XXXX I called the XXXX to get an update and left a message to call me back. I received a call back from XXXX on XX/XX/XXXX and she told me her investigation was complete and that I would have to wait for the fraud department to do their investigation which would be completed by XX/XX/XXXX. She wasn't able to give me any information as to why my account was closed other than the fraud department had to do their investigation. She asked if I was able to login to my Citi account online which I can't as a result of my account being shut down. She also said that I should have received a letter in the mail regarding my account closing and I have yet to receive anything in the mail from Citi. There is no good reason they are giving me as to why my account was closed. These are legitimate bank accounts in my name that I made these deposits from. I've had bank accounts for the last 20 years and have never had anything like this happen. I have an XXXX XXXX XXXX, and I even checked my name on the XXXX XXXX and everything is clean. I'm not a criminal. It has been 41 days now and I have not received my deposit back yet. I worked very hard to save this money up and they are claiming my deposits are fraudulent. I need this money back to pay bills now. It is very unfair and bad business practice the way my account was closed with no ability to access the account, and then holding my deposit claiming fraud.

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