Consumer complaint received 2021-12-23
Company: CITIBANK, N.A.
State: AZ
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I have been a Citi Bank consumer for almost 10 years. I recently opened an XXXX Savings account and a Citi checking account. I received an e-mail stating that my account was ready to be funded. I wire-transferred {$10000.00} from my XXXX XXXX XXXX account on XX/XX/2021. It cleared my account and was received by Citibank at that time. Today, XX/XX/2021, I logged into my online app to make sure that the payment I made to my Citi XXXX XXXX was processed and noticed that my savings account has been blocked and my new citi checking account had been closed. 

I never received an e-mail requesting more documents, more verification or any notification that there was anything wrong with my application for these products. I called Citi bank and was told that there was an issue with the account and I would have to wait to call the Citi Bank banking center. I explained that I was now overseas and needed assistance and they told me to call back during business hours. I waited for business hours and then called and spoke to a representative who told me that there was some type of fraud on the account and she would need to transfer me to the fraud department. They could not explain to me what " fraud '' was on the account and why they decided to close my accounts. I asked what happened to the {$10000.00} that I transferred into my account from my regular account and they told me they would issue a check in 10-15 days back to address on the account. I advised that I am now overseas and that since I transferred them the funds, I would like them to deposit the funds back into the account that I transferred from. They stated they would not do this and and I asked to speak with a supervisor and the call was terminated with the agent telling me that they could no longer assist me. 

I called back and spoke with a new representative and was given the same answers. I asked to speak with a supervisor and when I was getting no where with the supervisor I asked to be transferred to someone in the United States and rather than transferring me back to someone in the US the person hung up on me. I called again, re-explained the situation to a new representative and asked to be transferred to a U.S. representative - instead they transferred me to a supposed supervisor who then re-verified me with my social security number and other qualifying information and then told me she could not assist me and I needed to speak with the fraud department. While speaking to the fraud department, they re-verified me again, provided social security number, name of account holders, etc., and they were able to tell me that they did indeed refer my accounts for closure and when I asked them why, she said she could not provide further information. I asked what will happen to my {$10000.00} that was sitting in my savings account and they stated that it would be sent back in 60 BUSINESS DAYS to the address on file. I stated that I was told it would be 10-15 days and that I didn't understand why they would hold my money for almost 80 days ( including the time it had cleared my regular account on XX/XX/XXXX through today ) and then issue a check instead of transferring it back to my account from where it was sent XXXX XXXX XXXX XXXX I asked to be transferred to a U.S. Representative and again the call was terminated. 

I called Citi card services so that I could speak with a U.S. Based representative because I was getting no answers or assistance from their non-U.S. Based representatives and again was transferred to their non-U.S. Based offices and spoke with another representative who also would not allow me to understand what was happening or why my account was marked for fraud. I again requested a US Based representative and again was hung up on. I did this over and over again over the course of 4 hours. Finally I called and spoke with someone in card services who directly transferred me to a U.S. Based representative who claimed he could not hear me and would call me back and after waiting for a few minutes never received a call back. I then called again to Card and this time was transferred to a U.S. Based Supervisor in banking who explained to me that when the application was initially done, the person who assisted me with the application might have put in the security password incorrectly and that is why no one was giving me any information. She further stated that the decision to close the account would stand and because I could not provide my full account number ( the app was locked for the accounts they decided to close and would not show me my full account number once they restricted it ) and because I had not yet received my debit card ( I am away for the holidays as is everyone in the residence ) that they could not provide further information and to call back. I asked her to file a complaint on my behalf and asked about the {$10000.00} that was transferred into that account to which she stated that they would indeed hold my funds for up to 60 business days before sending it by check to the address listed on the account " if '' that money was owed to us. 

I explained that I received no notification from Citi Bank that there was anything wrong with my accounts, no phone call or e-mail that there was any documentation missing from the account. I asked why would they send me an e-mail letting me know they were ready for me to fund my account if they were going to close it two weeks later and then hold my money for up to what will now be almost 80 days. I was given the answer that this is policy. This is unacceptable. 

I feel that it should not take the largest bank in the world 60 days to return my funds for an issue that was not created by me. The final Supervisor I spoke with indicated that the person assisting me with the application may have put my security question in incorrectly and they had no way to override it.

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