Consumer complaint received 2022-06-24
Company: CITIBANK, N.A.
State: NY
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Money was not available when promised

Complaint:
Several months ago I received a letter from XXXX XXXX saying they will no longer be handling IRA accounts and I needed to roll over the money in my account. I attempted to roll it over to Citibank, where I have an IRA account. This is the email I sent to Citibank on XX/XX/XXXX when the rollover did not go through : XXXX On XX/XX/2022, I filled out rollover forms at the Citi branch on XXXX XXXX and XXXX in XXXX. This was for a rollover from my XXXX XXXX IRA to my IRA at Citibank. I was given wrong information : I was told that my SS # served as my plan number. Because I was given this wrong information, when Citi received the check for my funds from XXXX  XXXX, Citi returned the check to XXXX XXXXXXXX. XXXX XXXXXXXX re-sent the check yesterday along with the rollover forms, which still do not have my plan number. I have just found out, after spending an entire morning on the phone with Citi and XXXX XXXX, that the problem is with the lack of plan number. Attached are the rollover forms with the plan number that Citi should have given me on XX/XX/XXXX, when I was filling out the forms. Please do not compound your mistake by again returning the check to XXXX XXXX when you receive it. Please process the check with the attached rollover forms, which contain the plan number. My funds have been in limbo coming up on XXXX months because Citi did not give me correct information. This is unacceptable. Please contact me if you have any questions. Thank you, XXXX XXXX This is the email I sent to XXXX XXXXXXXX on XX/XX/XXXX : XXXX Attached is the updated and corrected paperwork for my IRA rollover to Citibank. The plan number on the original paperwork was incorrect. Citibank had originally told me that the plan number was the same as my SS #. It's not. They returned the check to XXXX XXXXXXXX and XXXX XXXXXXXX sent out the check again, I think last Thursday or Friday, again with the incorrect plan number. I sent the corrected paperwork to Citibank, but they don't know if they'll be able to match it with the check when it arrives. They will probably return the check again. If they do, now you have the correct paperwork to resubmit a 3rd time. This comedy of errors has been going on almost 2 months, and consequently my money has been in limbo for those two months. XXXX XXXX should not have resent the check to Citibank without contacting me and letting me know that there was incorrect information on the rollover papers. Should the check be returned a 2nd time, I urge you to overnight it to Citibank with the corrected papers. And I should not be charged for the overnight delivery fee, as this could have been corrected when the check was returned the first time. Thank you, XXXX XXXX It is now more than 1 month since my XXXX XXXX IRA was closed and my retirement money, {$150000.00}, has been in limbo. Citibank says they never received the check, can do nothing, and can tell me nothing. XXXX XXXX will not provide me with the documentation that shows Citibank returned the check. They say they are investigating and it will take time.

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