Consumer complaint received 2017-11-15
Company: CITIBANK, N.A.
State: NV
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XXXX XXXX XXXX, I tried to make an {$850.00} cash deposit into the Citibank personal checking account of one of my Contractors. The funds were to be used for business expenses he is incurring for a tour he is currently conducting on our XXXX 's behalf. These were destined as expenses, and not for salary, and were required immediately into his account. As I did not have an account with Citibank, bank protocol requires the following information for any deposit into a Citibank account XXXX personal or business ) when the depositor is not an account holder : a ) phone number, b XXXX full social security number and c ) occupation/title. I did not want to provide my social security number, I instead offered my Real ID driver 's license, and the company EIN number as I was making this payment on the company 's behalf. They refused to take my money. I then watched other transactions take place at the counter, and soon realized that no matter the amount, if a person was making a deposit into the bank, and was not an account holder, they required the same information, It occurred to someone making a {$5.00}, {$20.00} or higher amount deposit. 

I am fully aware of banking regulations regarding money laundering, however, this appears to be a larger issue. The bank is compiling information about people ( including their occupation, which is a strange request ) on a widespread level. I contacted the main telephone number and was informed that was the protocol. 

That this information is required for more important activity such as to cash Citibank checks for those who do not have accounts, or for any suspicious fund deposits, or even for funds deposited in cash over $ XXXX or $ XXXX is understandable, but to collect on a wholesale level all personal data of any person, making any amount deposit and who is not an account - whether it is {$5.00} or {$850.00} is very concerning. My complaint is that I believe this information is being stored for use for other purposes without my permission. I would appreciate your enquiring with the bank as to what is the exact use of the information, how long the personal data is withheld, how it is destroyed, do other entities have access to this information while in it is stored XXXX third parties of any kind including their own internal products department ) and what security measures are taken to keep this information safe. At the time of the deposit, there is no written information provided to customers why they are collecting this information, and no signatures are requested by the depositors. The clerk simply hands over a small slip of paper and demands the information, and then spends an inordinate amount of time inputting all the information into the system. I have kept this piece of paper ( attached ) because I never handed it back to the teller. 

Note that for check deposits, this information is NOT requested. 

I ultimately went to my own bank, had a cashier 's check drawn up and deposited the funds required as a check into the Contractor 's account. This incurred a 24 hour delay in receipt of the funds.

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