Consumer complaint received 2020-04-17
Company: CITIBANK, N.A.
State: VA
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
I opened a 1 year XXXX ( 2.5 % interest rate ) with Citibank and received a letter from them dated XX/XX/2020 stating my XXXX  would mature on XX/XX/2020 and that it would automatically renew for the same term unless I request a change. So, to this effect, I called Citibank on XX/XX/2020 and spoke with XXXX ( reference number XXXX ). I told her I received the letter and wanted to make sure the XXXX does not renew. She at some point said she was having difficulty hearing me but then seemed like she understood the reason for my call. She explained that if I did not wish for the XXXX to renew they could mail me a check and specified the amount that would be mailed to me ( which I later learned was not even the 2.5 % interest amount which I had originally agreed to ). At the end of the phone conversation, she told me to allow 5-7 business days for me to receive the check at which point I actually clarified and said, " you mean 5-7 days AFTER the maturity date '' to which she clearly replied " yes ''. At no point did I say I wanted to terminate the XXXX prior to the maturity date. I was very clear as to the intent of my call which was simply to make sure that the XXXX did not automatically renew. 

On XX/XX/2020, I received a check in the mail ( in amount which was actually {$550.00} less that the amount XXXX had told me ) from Citibank. It was then that I realized what she had done. She had quoted me the value of my XXXX  on the day of my call ( before maturity ) and taken it upon herself to close the account prior to maturity rather than waiting for the XXXX to mature and then send the check which is what I understood she was going to do. I called Citibank that same evening and discussed the issue with the supervisor ( XXXX ) who told me she would file my complaint with XXXX and send her an email to see if XXXX or her manager could fix the problem since XXXX, the supervisor, was unable to do so. I inquired with XXXX and she confirmed that Citibank would be able to listen to the pre-recorded phone call to verify my complaint using the reference number above. She also recommended that I call at XXXX the next morning and file a " Presidential complaint '' with the Executive Response Unit. I tried to do this the following morning but when I called Citibank and spoke with XXXX, the daytime supervisor, she said that office could not be contacted due to COVID-19 and that I would just have to wait for them to call me directly since XXXX had put in a request for them to contact me the prior evening ( which she had not told me she would do. XXXX assured me the Executive Response Unit would call me the same day since XXXX had put in the request but I received no such call. 

I called my local branch in XXXX, XXXX  on XX/XX/2020 and spoke with XXXX, the assistant manager, and was told the branch would be unable to assist me since the XXXX was closed by the customer service representative over the phone. I was told to call them back to try to resolve the problem. 

I have since called several more times ( with hold times over an hour and at times even being hung up on before being able to speak to any representative ) but I have been unsuccessful in my attempts to get the full amount which I am due for the 1 year XXXX  that I did not authorize to be closed prior to the termination date. In fact, I have not cashed the check yet from Citibank because theoretically the funds should have remained in the XXXX  until XX/XX/2020 and I fully intended to keep the funds there until maturity. I even suggested to Citibank to put a stop check in effect and " reopen '' the XXXX since I did not authorize it to be closed but they told me that would not be possible. 

Your assistance in this matter would be very greatly appreciated. I am so grateful I have an organization to turn to for help since I myself have been unable to hold Citibank accountable for their unethical actions.

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 monetary relief