Consumer complaint received 2016-10-14
Company: CITIBANK, N.A.
State: FL
Product: Bank account or service
Sub-product: Checking account
Issue: Account opening, closing, or management

Complaint:
XXXX - Citi bank official website - offers the following scam a {$400.00} reward program to anyone who opens a new checking account and deposits {$15000.00} in to the account within the first 30 days and then keeps at least this amount in the new checking account for 30 days. I thought this investment would be a nice way to make an additional {$400.00} dollars so I went for it. I wired transferred from my other bank {$16000.00} dollars in to the new Citi bank account. I verified with Citi bank customer service that they had received the money - they said yes. I then asked if there was any thing else they needed from me for opening this checking account - Citi customer service responded no everything is complete. I thought great after I keep the money in for 30 days I will qualify for {$400.00} dollars from Citi. Seemed pretty strait forward BUT not so fast - right around the XXXX day of my new Citi account having been opened, I received an email from Citi saying that my first statement was available for viewing. I went online only to seem that my account had a zero balance - SHOCKING!!! I called Citi and they tell me account blocked - WHY?? As it turns out suddenly they created a bogus issue with my primary home address - saying that it did n't exist and they could n't verify it so they were closing my account. Odd since they had sent multiple mailings to my primary address were I received from Citi a checkbook, another time a atm card, another time a pin number that I used to activate my atm card and I sent them a copy of my phone bill that has my primary address on it. Also the wire transfer came from XXXX XXXX XXXX with documents that have my primary home address on them. None of this mattered they still closed the account!! Coincidently that they closed it right before the day that I would qualify for the {$400.00} dollars for them to have to pay in to my account?? I think no coincidence - clearly it is a scam for this bank raise fast cash from Americans never planning on paying {$400.00} dollars -- just a scam -- total scam. Example even if XXXX XXXX Americans fall for this Citi scam multiplied by XXXX each equals {>= $1,000,000} XXXX dollars of quick cash for whatever Citi needs. Further if they do not pay out the {$400.00} dollars by closing accounts early then Citi saves another {>= $1,000,000} XXXX dollars of expenses. In total Citi may be able to use closing of accounts as losses to offset earnings to pay less taxes with the IRS not being any the wiser. Consider these amounts may be XXXX folds greater if tens of millions of Americans fall for this scam and if they pay out a few to try to make it look legitimate with a couple XXXX early closing they make and save billions - what an intelligent Citi bank scam. 
Secondly I am concerned if I will ever see the closing account Citi check of {$16000.00} dollars -- Because the first atm card never arrived and Citi new account department never investigated what happened to it. Then two Citi supervisors told me that the closing check would be mailed to me and if it got lost the Citi bank was not responsible for the lost money. WOW!! more Shock!! I called US Federal reserve that assured me that Citi is totally liable for the closing check and if lost in the mail Citi would just have to send me another check - Relief!! and Peace of mind. Yet because of the recent XXXX XXXX employee fiasco in the news - It makes me wonder if these employees and any of their associates outside the bank in the Citi new accounts department were involved in the missing atm card considering they did not investigate were the atm card disappeared too and tried to convince me ( purposely lying to me ) of no liability for closing check and almost sounded as if they were planning the closing check on being lost. I pray that the closing check arrives and does n't end up lost/missing/stolen.

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