Consumer complaint received 2021-09-17
Company: CITIBANK, N.A.
State: OH
Product: Checking or savings account
Sub-product: Savings account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
Citi has repeatedly sent and continues to send personal offers to me to open an Accelerate online savings account and receive a {$100.00} bonus. I have held a Citi credit card for years with no issues, so I responded to this offer. 


On XX/XX/XXXX, Citi allowed me to open the account online, which I did with my own true identity and information. Citi accepted my substantial opening deposit. The online access I already had for my Citi credit card was automatically connected to this account. Citi sent a debit card and a PIN number through US mail on XX/XX/XXXX. 


On XX/XX/XXXX, before I had even received the PIN and debit card, I received the attached email, informing me that, " Based on a recent review of [ my ] Citi ( R ) Accelerate Savings account, '' I had " violated the terms of [ my ] account per the client manual. '' The email said that my account would be closed. This, despite no activity having taken place on my account other than the act of opening it with an initial deposit. 


I called the number provided in the email to inquire about this, but the representative would not provide any information because I did not yet even have access to the account number, which was still in the mail, so I was told that I could not be verified. Citi refused to provide any information regarding the accusation that I had violated the terms of my account. 


After providing all the personal information one would need to commit identity theft, and getting nowhere with the representative, I spent most of the morning convinced that I had fallen victim to a scam designed to steal my credentials. I ended this call and found that my Citi online login credentials, which had worked for years without issue, no longer worked -- even to access my credit card, which was not to be closed. This further convinced me that I had been scammed and that someone had stolen my access and substantial deposit. 


I lost most of the day of work as I attempted to notify Citi that I had been the victim of fraud. At every turn, the banking side of Citi refused to help me or even acknowledge whether my deposit had been transferred. They demanded that I prove my identity using information that had not even made it to my house from US mail and accepted no other means of verification. Even when the credit card customer service agent directly told the banking agent that I was verified, Citi refused. Eventually one agent did verify that my initial call was with Citi and not with scammers, but did not verify that my funds were present and refused to provide any information. At various points, I was told that I had committed fraud or that there was a derogatory mark on my account, but no further explanation was given. 


I was repeated told, from a script, that I must wait for a letter that would arrive via XXXX mail and provide more information. I was told that I would receive my substantial deposit amount as a paper check, sent via US mail, after an unacceptably long wait ( I forget whether it was 30 days, 60 days, or 6-8 weeks -- this was verbally communicated to me ). I was not comfortable with the security of my deposit, a substantial portion of my savings, traveling through the mail, which has repeatedly failed to deliver important items. Thankfully, I was able to recover my funds by initiating an ACH dispute with my original bank.

Finally the letter ( attached ) arrived. Instead of any explanation or acknowledgement that Citi had opened an account, taken my money, and held it hostage despite no action on my part, the letter simply said that " an account can not be opened for you at this time for the following reason ( s ) : Early Warning Decline. '' I called Citi again, this time verifying my identity using the debit card that had arrived, and was again given no information. 


I did eventually receive a check from Citi, after my original bank had already recalled the funds. But Citi continues to refuse to provide any explanation, despite having accused me of fraud and/or having a derogatory mark on my account.

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