Consumer complaint received 2022-06-12
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CITIZENS FINANCIAL GROUP, INC. (NY)

On XX/XX/2022 the authorized rep for the business trust deposited a money order for the amount of {$5000.00}. the following day the funds were cleared. On XX/XX/2022 a call was made to a different branch inquiring about the deposit and to reassure the funds were cleared. The officer with who I spoke reassured me the funds were cleared. On Monday, XX/XX/2022, a second deposit was made to do an asset transfer and purchase an RV for the amount of {$250000.00}. The money order was deposited and a deposit slip was handed over. The transaction was complete. The previous deposit was cleared. A confirmation was made. The following morning a review was made online with the account and the funds were not available as expected. The funds showed that they were cleared and then removed from the account once they were cleared. The previous deposit of $ XXXX was now on hold. A call was made to customer service which informed me that the $ XXXX was under review because of the size of the deposit. I inquired about the $ XXXX and was informed that they were reviewing that even though the funds cleared. I was on the phone discussing this and reviewing online at the same time. After the phone call, I needed to relog in my account but realized they locked me out. I had to contact customer support again and was now informed after just getting off the phone that my online account was now suspended and if I needed to review my account to visit the branch. I contacted the branch and spoke to one of the officers, she was aware of the transaction and knew it should have not had any issues considering the other instrument cleared. The first instrument was instructed to be brought to the Fedwire window or XXXX XXXX XXXX XXXX  for processing. The officer acknowledged my request and was aware of the procedure. The officer I spoke to informed me that she would look into the matter and get some resolution., While she called back-office managers, they were familiar with the process but were unable to assist her with completing the procedure. She continued with her fiduciary duty to assist in the transaction. She was aware the account number was correct. She was also aware there was the clearance of the instrument but uncertain why the funds were removed. She called a different officer who threatened her with her job and told her to stop her duty. A few days later I received a " notice of advice '' letter stating the instrument and only the second instrument was nonnegotiable. It did not cite what the deficiency was. The instrument met all provisions of the UCC articles 3,4,5 and 9 also the negotiable instrument act and banker laws act. Along with title 12 and such.I called and inquired on the phone. The customer service responded with the issue about the account number. I said that was impossible because the very first time I tried the officer informed me the account number was not the issue and the issue was a result of the routing number. I informed the very first office this on XX/XX/2022. I also informed her that this was a special deposit that required your assistance and fiduciary to process at the Fedwire window. She said she only had 4 years of experience and was not too informed on how to process it but was aware of the procedure. She informed me to come back when a manager was available. When I came back I had made an adjustment to the note and hand-wrote down a new routing number as I was instructed of XXXX different numbers to use that would be easy for the bank trustee to figure out. I was also informed I can only provide as much service for my duty as a trustee. We have limited powers and can only do so much for our beneficiaries. So now I used a different routing number but the bank manager would not even attempt to process the note since it was handwritten. It is in the provisions that these notes can be handwritten, printed or typed.but handwritten is best, It really doesn't matter. So I went home and printed a new one up and went to my branch which was open that day. they have not been open all the time and have been closed during business hrs. I went to the teller and submitted the note and endorsed it and was handed a deposit receipt. I had the routing number correct and the account number was verified as correct. As It should since I possess the account card. The excuse they are using is that the account number is invalid, but it is not I can see the transaction on my ledgering and they are blatantly lying that they removed the credit from my account while the credit is now on their ledgering in the amount of {$250000.00} This transaction was from the contract trust account it must be reported on an IRS 3520 as a foreign gift from the trust. This amount was embezzled from the CITIZENS BANK institution and they are trying to cover it up. I spoke to the Office of Chairman XXXX XXXX. When speaking to her she needed to verify the information on the account. The account was opened with a EIN and only a EIN but upon speaking to her she was demanding a Social security number and I informed her no social security number was used to open the account and it was a felony asking for it. She continued to demand it/compelled me against my will for it, in order to discuss the account. I informed her it was a trust account number that is not to be given out but I will find that since you are compelling me for that number for verification I will provide the Social Security Trust number. Upon doing so she was now " Able '' to discuss the instrument and claimed the instrument was non-negotiable because the account number was invalid. I said to her did I just not give you the social security number to verify this account. She did not have much to say other than the account number was invalid even though it was used to fraudulently verify the account. I am demanding the W9 EIN from this institution so I can file my 1099forms and report this foreign gift with my XXXX but now must report the embezzlement. the account number is valid the funds were stolen. As this is also a violation of the irrevocable trust documents and security agreement that was used to open this business trust account. There were several documents requested at the time of opening and they were provided and now violated. I also provided a power of attorney and w8 and several other documents. I have demanded the 2 instruments returned, but CITIZENS BANK refuses to return them. I have requested a full accounting they have ignored that request. I called today. XX/XX/2022. Once again, I spoke to a few employees named XXXX XXXX and XXXX XXXX. I tried providing my XXXX and they have no record of it. They claim they have no records of the account that I have mentioned. He continued to demand the social security number I had asked him how he acquired that number when I myself do not have a social security number and that number is associated with a transmitting utility., I informed him that the number is private once again and it is a clear violation of 42 USC sec 408 this must be the 5th time I have been compelled to provide this number. This is a clear violation of identity theft and fraud upon the bank committed upon me and my account.. They have removed {$250000.00} from my account and now the account is overdrawn and is sending me extortion bill 's in the mail. They have extorted funds online and through the mail.