Consumer complaint received 2024-11-29
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: CITIBANK, N.A. ()

Subject : Formal Complaint Regarding Citibanks Unjustified Withholding of Funds Date : XX/XX/year> Background Information : On XX/XX/year>, I opened two accountsa checking account and a savings accountat Citibanks XXXX branch in XXXX, Florida, as a XXXX ( I live in XXXX ). I was assisted by XXXX XXXX XXXX XXXX, who assured me that if I deposited {$30000.00}, my accounts would have no maintenance fees and would qualify for a promotional interest rate. That same day, I deposited {$900.00} into the checking account. 

Issue Details : On XX/XX/year>, I attempted a wire transfer of {$30000.00} from my business account at XXXX XXXX  to my Citibank savings account. The transfer was rejected and returned, deducting {$40.00} in fees. I received {$29000.00} back. 
On XX/XX/year>, I attempted another wire transfer of {$25000.00} from my personal XXXX XXXX account to Citibank. This transfer was also rejected and returned, deducting {$40.00} in fees. I received {$24000.00} back. 
Following these failed attempts, I emailed and called XXXX XXXX XXXX XXXX XXXX multiple times, but he stopped responding. The only email I received from him stated that my account was normal and suggested that XXXX XXXX  may have made an error. 
To resolve the issue, I used Citibanks online banking platform to initiate XXXX ACH transfer requests from my XXXX XXXX account to my Citibank savings account : {$10000.00} ( XXXX XXXX : XXXX  ) {$30000.00} ( XXXX XXXX : XXXX ) The funds were correctly debited from my XXXX XXXX account but never appeared in my Citibank account. 

I called Citibanks customer service and spoke with four different representatives. Eventually, I was informed that my account had been blocked, and I was directed to contact the fraud and transfer department. At this point, Citib

ank also restricted my access to the account entirely.

Over the course of contacting Citibanks fraud department, none of the representatives ( five or six in total ) could or would explain why my account was blocked, why my funds were inaccessible, or what issue was being investigated. 

On XX/XX/year>, I received an email from Citibank stating that my account violated their terms as outlined in their client manual. They informed me that : My accounts would be closed within 60 days. 
All accounts were immediately restricted from receiving deposits or credits. 
Any remaining funds would be sent by mail after account closure. 
My Concerns : Citibank is withholding my funds ( {$40000.00} ) without justification or transparency. 

I was not informed of any violations during account opening, and I have adhered to all banking regulations. My activities were limited to : Opening the account. 
Attempting two wire transfers.

Executing ACH transfers.

Citibanks decision to close my accounts and delay the return of funds for 60 days is unreasonable and has caused financial and emotional distress. 

Resolution Requested : Immediate refund of {$40000.00} from my savings account and {$900.00} from my checking account via electronic transfer to my XXXX XXXX account ending in XXXX. 
A formal explanation of why my accounts were blocked and funds withheld. 
An investigation into Citibanks actions, which I believe may be unfair, deceptive, or abusive under U.S. banking laws.

Impact : Citibanks actions have caused significant stress and disrupted my ability to manage my personal and business finances. I should not have to travel to the U.S. or endure further delays to access my rightful funds. I also believe Citibank should face regulatory scrutiny to prevent such practices from affecting other customers.

Thank you for addressing this matter promptly.