Consumer complaint received 2022-09-16
Company: CITIBANK, N.A.
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
I recently opened XXXX accounts with Citibank ( per direct solicitations from Citibank ) and, when paying my credit card on Saturday, XX/XX/XXXX, just happened to learn that my accounts are in the " process '' of being closed which can take up to 60 days. Upon finding out today, that after their review, Citibank will, in fact, be closing my accounts due to how the funds were obtained by Citibank. I was told that I will have to wait for a check, which could take up to 60 days. I have requested that the funds me made immediately available, as the account has been under review and the funds were made unavailable since Tuesday, XX/XX/XXXX. Below is the email that I sent to Citibank on Monday, XX/XX/XXXX. Additionally, the Requisition Number with Citibank for the claim that I filed with their Executive Response Unit is : XXXX. The analyst 's name is : XXXX, who told me is as high as I can go with Citibank, and that she reports to XXXX XXXX. [ Citibank 's XXXX XXXX XXXX 's phone number is : ( XXXX ) XXXX, and XXXX 's direct phone number is : ( XXXX ) XXXX. ] This purpose of this email is to file/register a formal complaint regarding the bait-and-switch scheme that I fell victim to that was entirely initiated by Citibank. The following explains why I believe the actions by Citibank are unethical and deceptive and I would like this resolved immediately. 

On Saturday, XX/XX/XXXX, I signed on to pay my Citibank credit card. When I signed on, the XXXX deposit accounts ( both a checking and savings accounts ) were just gone. It took well over four ( 4 ) hours on the phone between hold time, being transferred and hung up on to learn that I am considered a fraudster by Citibank simply for funding new accounts via XXXX systems/options. The follow couple paragraphs explain the events that lead to what was explained to me by XXXX in the Fraud Department I have been a Citibank credit card account holder since XXXX. On XX/XX/XXXX, after paying my Citibank credit card via my Citibank online account, I was invited to open a savings account, which had a promotional offer - I believe part of the promotion was to open, fund and maintain at least {$30000.00}. I decided to open the savings account at that time. As part of the account opening process, I was then offered the option to transfer money electronically to fund the newly opened savings account, all of which was through Citibank technology. When setting up the initial transfer of {$30000.00} on Thursday, XX/XX/XXXX, I realized that there was a limit of {$10000.00} per transfer, so I attempted to set up three transfers : The first one on Friday, XX/XX/XXXX ( Citibank XXXX Number : XXXX ) XXXX, the second for Monday, XX/XX/XXXX ( Citibank XXXX Number : XXXX ) XXXX and the third for Tuesday, XX/XX/XXXX ( Citibank XXXX XXXX : XXXX ) XXXX, again by using the channels offered to me by Citibank. I was actually surprised, and somewhat impressed, when Citibank suggested debiting the money to fund the new Citibank savings account from my XXXX XXXX checking account, which is the exact account that I have been paying my Citibank credit card from for a number or years now. 

On or about XX/XX/XXXX, I realized that all three transfers had not gone through as the balance in my new Citibank savings account was only {$10000.00} and the remaining {$20000.00} had not yet been debited from my XXXX XXXX checking account. I called into Citibank customer service to figure out why ALL of the transfers did not go through. The representative confirmed that only the first transfer of {$10000.00} took place, and that the additional two transfers were not completed. He could not explain why second and third transfer requests were canceled, but did reconfirm that they did not go through. He then explained how to transfer funds to the new savings account by using a different option/feature available in my Citibank online banking account, which I immediately used, transferring the remaining $ XXXX. I was finally able to bring the balance in my Citibank savings account to {$30000.00}. Everything seemed to be fine and well as I noticed interest had successfully posted to this account when I later signed onto my Citibank online banking account. 

In XXXX, I received a promotional offerXXXX  in the mail to become a Citibank checking account customer as well. The promotion that was directly mailed to me by Citibank, with a promotion code ( Citibank Invitation Number : XXXX ) XXXX, solicited a bonus of up to {$2000.00} if {$300000.00} and above was deposited into the newly opened checking account within 20 days. On XX/XX/XXXX, I followed the instructions on the mailer, which was to visit citi.com/BetterChecking. The Citibank-driven process allowed me to sign in, which prefilled a lot of the questions that needed to be answered when applying for a deposit account. I confirmed that all the information was correct and advanced forward through the Citibank process. I did fund the account with $ XXXX by allowing Citibank to debit the same XXXX XXXX XXXX account that was debited the previous month. I did not initiate a transfer for the full {$300000.00} at this time because I wanted to make sure the full amount was available in my XXXX XXXX checking account. A couple of days later, when I was ready to transfer the remaining {$290000.00}, I signed onto my Citibank online banking account only to learn that I was limited to moving {$250000.00} per a rolling 30 calendar days. I then initiated another transfer of $ XXXX, which was the remaining allowable amount per Citibank that XXXX could request a transfer for. I called back into Citibank customer service on Monday, XX/XX/XXXX to find out how to get the remaining {$50000.00} in the new checking account. The representative that I spoke with this time confirmed that the limit was {$250000.00} and also reminded me that I only had 20 days from the day the account was opened to fully fund the account in order to get the promotion that I was offered. I then asked if there were any branches in Georgia so I could move the rest of the money into the new Citibank checking account before the 20 day cutoff date. The representative told me that there were no branches near me. No other options were suggested for me to make a deposit. After thinking through possible options for myself, I asked if making a deposit via bank-by-mail was an option. The representative said that I could do this, but suggested I do this as a last resort due to the time it would take for the physical check to be mailed and received by Citibank, which could have possibly been after the 20 day funding requirement. I then asked if there was a branch in XXXX XXXX, Florida, as I have a family member who could have made a physical check deposit for me. The representative confirmed that there were branches in XXXX XXXX and then proceeded to look up and provide me with the address of a branch on XXXX XXXX. I then asked my family member to deposit a check for $ XXXX into my new Citibank checking account in order to bring the balance up to the required {$300000.00} within the 20 day time frame of opening the account. 

ALL electronic movement of money to Citibank was initiated through a Citibank system/option. ALL funds to Citibank were successfully and wholly received by Citibank without any restrictions and/or concerns. My other accounts have been properly debited. Additionally, I have provided proof that a total that {$330000.00} ( which was deposited into Citibank accounts ) was successfully withdrawn from my accounts. I want to reiterate that the electronic movement of money was suggested BY Citibank as part of the account opening process, in which Citibank offered my XXXX XXXX account ( both name and number ). I did not even add a new account. I simply used the XXXX XXXX account information that Citibank already has on file AND has been debiting to pay my Citibank credit card. 

On Saturday, XX/XX/XXXX, XXXX explained to me that my accounts are scheduled to be closed due to fraud. I am appalled that Citibank would accuse me of fraud and close my accounts, penalizing me for utilizing the very technology that was offered to me after soliciting me for my money, having been a customer since XXXX. I am further shocked that NO communication was initiated by Citibank asking me about the validity of the funds that were successfully transferred to Citibank. I only learned that Citibank has called me a fraudster when I signed into my online banking to pay my Citibank credit card on XX/XX/XXXX. The complete and utter shock was unimaginable when I saw that both accounts just vanished from both my Citibank online banking account and from the automated system! 

This email is also to explain that absolutely NO fraud was committed in opening these accounts. I do not understand how Citibank expected me to fund the newly established accounts without a physical branch for me to walk into and deposit an actual check. Additionally, there was NO communication from Citibank regarding actions/investigations that apparently began on Tuesday, XX/XX/XXXX, almost two ( 2 ) weeks ago! Due to total lack of communication, I completely feel like just a number to Citibank. I completed all of the required steps to take advantage of the promotions that were offered to me by Citibank. I believe that Citibank has misrepresented itself and does not want to honor its promotion, so saying that moving my money from my accounts to my new Citibank accounts is a way to avoid honoring its commitment. This is highly unethical and very deceptive. If I knew funding the account would be considered suspicious by Citibank, I would have not moved forward with the account openings. 

I now have NO idea when or how my money will be returned to me. I was told this investigation could take up to 60 days, which means that Citibank will benefit from my money after defrauding me. Minimally, I should have been called on the phone and asked follow-up questions to simply get further clarification. Furthermore, I am also in shock because I have had a credit card with Citibank for decades, so I should be a known customer. I did not access the Citibank website and initiate a new relationship for the very first time in XXXX. I did not walk into a branch in a city where I do not live and ask to establish a relationship with the bank. I simply responded to Citibank-initiated solicitations to deepen an existing relationship and then was promptly penalized and called a fraudster for doing so. 

I do expect an immediate response to this email with explanation and resolution for all that has transpired. I am willing to leave the accounts open and active, and be provided with the bonuses/incentives after the promotional waiting periods, but if the accounts are to be closed I expect a FULL refund of my money within 24 hours. I do NOT give permission for Citibank to continue to use my money without me having any access to it, which has apparently been the case since Tuesday, XX/XX/XXXX. I do expect ( and prefer verbal ) communication and complete resolution within seven ( 7 ) business days, the exact length of time that the Regulation CC Hold for a Safeguard Exception was placed the {$50000.00} check that was physically deposited into my Citibank account. 

*X Attachments of screenshots to support events p.s. I attached 11 images in my email to Citibank that showed proof of confirmation of requested transfers from my Citibank online banking account and proof of monies being withdrawn from my accounts, which are not included in this complaint. Please let me know if they are needed by the CFPB. Thanks so much!

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 non-monetary relief