Consumer complaint received 2018-07-13
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CITIZENS FINANCIAL GROUP, INC. (OH)

On XX/XX/18, I opened a Citizen 's Bank checking account utilizing a new account promotion. I set the account up for direct deposit and the first one was made today, XX/XX/18. 

Today, in researching my new account, I came across a savings product called Citizens Access. This savings product offers an APY of 2 %, which is the highest I have ever seen. My current XXXX savings has a 1.75 % rate, so I decided to open a Citizens Access savings account to exist alongside my checking account. 

I " opened '' the Citizens Access savings account online today, XX/XX/18. During the account opening process ( one I have done many times with many different banks ) I was instructed to fund and initial deposit of {$5000.00}, which I knew about from the description of the account online. My plan was to move my Citizens Platinum Checking account balance of {$1400.00} to the Access Savings and send the remaining {$3500.00} from my XXXX Savings Account. I did not know if multiple funding sources would be an option, so I entered my Citizen 's Platinum Checking account info first and clicked " Continue ''. 

At that point, I received an error message with a phone # to call : XXXX. I called and explained what happened and the error message I received. The relentlessly unhelpful agent I spoke with told me that I authorized a {$10000.00} transfer from my Citizen 's Platinum Checking account. This was shocking because I never even authorized the {$5000.00} transfer ... I got an error message after entering my bank details. Where did {$10000.00} come from? The agent advised me it was done, and she could not stop it. She told me my only recourse was to visit a branch to have the transfer " recalled ''. 

So I visited the Citizen 's Bank branch at XXXX XXXX XXXX XXXX XXXX and worked with a man named XXXX XXXX. He was helpful and did everything to assist, but no one at that branch knew anything about Citizens Access. They had never even heard of it before. XXXX put a stop payment on the funds but was not entirely sure if this would prevent the {$10000.00} transfer from taking place, which would result in overdraft fees. 

I am submitting this complaint for 2 reasons : 1. If there are any issues with the stop payment, or this ordeal results in any negative impact to me whatsoever, whether it be in the form of fees, credit reporting or XXXX   impact, I want what happened to be documented and any issues reversed immediately. 

2. The Citizen 's Access online setup process clearly has an issue if initial deposits are being doubled, and needs additional verification so customers know what options they have for initial funding ( i.e. multiple accounts ). I hope this complaint sheds light on that and their system is updated. 

3. The gap between Citizen 's Bank and Citizen 's Access is comical. I did not speak to a single Citizen 's Bank employee who knew anything about Citizen 's Access. Citizen 's Access accounts can not be linked to Citizen 's Bank accounts and the balances within Citizen 's Access do not count toward minimum balance requirements at Citizen 's Bank that allow consumers to avoid fees. This is INCREDIBLY misleading marketing. Why brand as a Citizen 's product at all? 

Thank you for reviewing my complaint and feel free to contact me with any questions.