Consumer complaint received 2022-11-11
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: CITIBANK, N.A. (FL)

Dear CITIBANK, On XX/XX/XXXX I noticed my business account is not working, and I cant make any transfers. I immediately contacted the banks customer support department. I was redirected to the fraud department, where they explained that the account has been sent for closure and CITI intends to terminate all relationships with XXXX XXXX. 
Ive been told that the account will be closed within XXXX days, and within XXXX days I will get a check and an explanation letter to the address linked to the account. 
No reason was given. 
At the moment I was informed that the account is restricted, meaning money cant go in or out. The closure was decided on XXXX of XXXX. 
It is important to mention that our company started its business activity in XXXX. We started to sell tickets to customers for airplanes. We had good plans but the pandemic happened which was a challenge for us. We were on the line to close our business but our team overcame all difficulties and after the travel industry returned to the new normal our sales started to grow and now, we do have approximately XXXX mln. sales starting from XX/XX/2022, and we plan to finish the year with gross turnover up to XXXX mln. All our transactions are done online, no cash deposits. Everything is transparent, and has been since the beginning- we always had the same pattern for our transactions. 
Finally, we started to see some profit from our business activity and unexpectedly and even treacherously CITIBANK dealt us a crushing blow by closing our account. So now we are again on the brink of closing because of the inactions of CITIBANK. 
Our company is totally transparent and we are ready to provide all the required information. We contacted the fraud department numerous times and in return we only hear the same statements that are read from a script - with no reference to my business acounts state t I asked and begged them to give me the funds since this is our only business account in the USA, we need the funds to pay our contractors and employees otherwise the business will simply die and bankrupt because of CITIBANK. 
One of the agents from the fraud department called XXXX told me that she made notes of this request and told me she will send it to the specialty department that is dealing with my account. But no updates from there, since the request was made. Moreover, when I call customer services or the fraud department they just don't answer me. 
So, this is the story of how CITIBANK supports small business and fulfills President Joe Bidens Proposals to Support for Deserving Small Businesses. We are sure that XXXX XXXX deserves a least explanations from CITIBANK, and understanding that freezing all our funds for such a long period is extremely detrimental, if not fatal to our business. We are of course open to discussions and cooperation, moreover we would like to continue our collaboration with CITIBANK as were sure this is a misunderstanding. C So, we would like to contest the decision of closing our bank account and reactivate it. 

Also, we are insisting that our funds should be presented immediately in order to minimalize our loses and to fulfill our obligations to our suppliers and customers. 



Sincerely, XXXX XXXX XXXX XXXX