Consumer complaint received 2023-01-05
Company: CITIBANK, N.A.
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
Late XXXX of last year I opened an online account with CITI bank and did the initial funding of an amount {$20000.00} using the online ACH transfer at CITI bank website from XXXX XXXX using account number and routing, and I was surprised how quick and easy CITI bank XXXX service was, So I was thinking at that time why not transfer all the funds and close my previous XXXX  bank account. 

So I immediately added another amount {$10000.00} and was hoping that in a span of few days I will transfer all the funds over, I didn't want to transfer everything in one go because I'm always hesitated about online transfers, I have also transferred my direct deposit for my work paychecks to CITI. 

Few days later I transferred {$20000.00}, and two days later I added {$10000.00} and {$30000.00} at the same time, At this point my XXXX  bank account is almost dry. 

The following day XXXX XXXX XXXX I got an e-mail from CITI stating that my account will close automatically within XXXX days and any funds remaining in the balance will be sent to you, If you wish to have access to the funds sooner go to the nearest branch and collect them, The only reason they stated for the closure of the account is that I violated their terms. I said alright they don't want my business, fine. 

I called the number provided in the e-mail right away and I had to go through layers of XXXX and refusal to finally get to the XXXX  and was told just to wait up to XXXX  days and I will get a letter explaining all the details, no further details given, I then head down to the nearest branch and showed them the copy of the e-mail that I can collect my funds here, they said that's not true, your account is frozen and until it closes we can't access any funds, I had her call them and they told her the same thing that I have to wait, Don't know why the e-mail said I can do so. 

In the weeks following the closure I kept calling them and every time I call I hear the same story, I grew anxious and impatient since I was in the middle of large spending projects, House repairs XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, I had no choice but to take a loan from a financial institution for {$30000.00} to keep going as I was on a brink of filing for bankruptcy while CITI holding my funds, But the loan was not enough I had to come up with more money so I went to my XXXX XXXX  and asked them if they can reverse those transactions, They tried and they were only able to reverse the last two transfers $ 30k an $ 10k as they haven't cleared yet but the first XXXX transactions remain inaccessible, So at this point my account balance should be exactly {$50000.00}. 

In the last few days of the XXXX days period I was given, I started to call and they started changing stories and I started to get suspicious, now they said it could take another month or so, Then I started to ask about the amount I'm going to get and that's when my suspicion is confirmed, I was told that the account is closed and we don't owe you any money, in another call the XXXX said that they don't know how much I'm going to get I just have to wait for the letter, but they never explained to me where the money go, or what's going on. I have statements from XXXX bank showing the dates of transfers and the exact amounts. 

I went to the CITI branch and asked for a detailed transaction history, first the XXXX said she couldn't, but I begged her for help and she was able to pullup the transaction history and gave me a print out, I took a closer look at CITI statement and I could see one of my paychecks has been deposited for {$1400.00}, and another transaction made after the account closure of the amount of {$50000.00} and it says " Other debit ''. Oh boy, someone just drained my CITI bank account, Will they admit to it? the XXXX  had one of the XXXX call them XXXX XXXX XXXX XXXX XXXX and asked them about that transaction and they admitted that the bank held that amount, I said why? They told the XXXX that money doesn't belong to me, I said what? then who that money belongs to? The XXXXt asked them my question and they said they don't have an answer for that, They told the XXXX that I will be receiving a paper check in the mail for the amount of {$10000.00}, What? I told the XXXX, I though they said the whole amount doesn't belong to me, I called immediately after I left the branch and asked them the same previous questions and they said they don't know, I said well transfer me to someone who knows, The XXXX goes, I'm the highest person you can talk to, I said, did you hold the money? They said no, I said then let me talk to the person who made that action, But none of them could explain to me why the bank took my money. 

Few days later I got an e-mail from XXXX saying a package from CITI is going to be delivered tomorrow, I had some hope that they will fix the problem and I finally receive my full balance, maybe the agents don't have access to the full information, Next day on XX/XX/XXXX at about XXXX the XXXX XXXX rang the doorbell and gave me the letter, I opened it and looked at the amount on the check and a cold chill run across my body. The amount is exactly my deposited paycheck {$1400.00}, no more, no less, and the amount that is been held as I mentioned above is gone, not even the amount they claimed they are going to send which is {$10000.00}. 

I logged into my e-mail and responded to the CITI XXXX e-mail stating that I have received a final check from you however it doesn't reflect the balance of my account at the time of closure, Before I seek legal advice I need an explanation to what happened to my account. I didn't think the e-mail accepts replies but I did it anyway out of desperation, Sure enough I got a response saying that they will look into the matter and get back to me " if a response is needed '' within XXXX days. 

Few hours later I got a call from the XXXX office stating basically the same thing in the e-mail but at least a human that I can talk to, I told her I have proof of transaction history from both banks showing exactly where the money came from, She told me that she can see that looking at my account, I asked her, then why they are saying the money doesn't belong to me, She said she is expecting a response from them and once she gets that she will share it with me, and told me to just wait for the next XXXX days. But I'm not too hopeful that CITI bank is going to resolve the issue, I have all the evidence you need once we establish a way of communication.

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