Consumer complaint received 2026-06-17 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: CITIBANK, N.A.
State: CA

Complaint narrative:
* * Consumer Financial Protection Bureau Complaint Against CitiBank * * I am filing this complaint against CitiBank regarding the closure of my accounts, the withholding of my funds, and the banks handling of multiple wire transfers, including a {$250000.00} outgoing wire recall initiated by the bank and a {$680000.00} incoming wire deposit that has been placed in question. CitiBank has closed one of my business checking accounts and two personal checking accounts. The bank has provided little to no meaningful explanation for these actions and has failed to communicate clearly regarding the status of my funds. Following the account closures, CitiBank informed me that my funds would not be released for up to sixty ( 60 ) days and that remaining balances would be mailed to my home address by check. No justification has been provided for this extended delay, nor has the bank provided any meaningful explanation for why I am being denied timely access to my own funds. The funds being withheld represent money I rely upon for personal living expenses and financial obligations, including housing, transportation, and other essential costs. The delay in releasing these funds has caused significant financial hardship and uncertainty. In addition, CitiBank initiated the recall of a {$250000.00} wire transfer that had been sent from my business account for a legitimate investment opportunity. I did not request, authorize, or initiate the recall of this wire transfer. CitiBank froze my accounts and took action to recall the wire on its own initiative. The {$250000.00} consisted of legitimate business funds intended for a lawful investment transaction. CitiBanks actions have prevented me from completing that investment and may have caused substantial financial damages and lost business opportunities. Despite the significant amount of money involved, CitiBank has provided no meaningful information regarding the status of these funds. The bank has failed to explain where the funds are currently being held, whether the funds have been successfully recovered, whether they remain restricted, or when they will be returned to me. I have repeatedly sought clarification but have received no meaningful answers. Additionally, a separate incoming business wire in the amount of {$680000.00} was deposited into my business account. I spoke with my CitiBank account manager in XXXX XXXX, California, XXXX XXXX, who informed me that it was too late for the sender of this incoming wire to recall those funds. If that is the case, I do not understand why my legitimately received wire funds are being frozen, and why all of my accounts have been closed. This contradiction has not been explained to me by CitiBank, despite my repeated requests for clarification. CitiBanks lack of transparency regarding my closed accounts, the outgoing {$250000.00} wire recall, and the incoming {$680000.00} wire deposit has caused extreme financial distress and uncertainty. While I understand that financial institutions may conduct reviews or investigations when necessary, consumers should not be deprived of access to their funds without clear explanations, meaningful communication, or a reasonable timeline for resolution. I respectfully request that the Consumer Financial Protection Bureau investigate this matter and require CitiBank to : 1. Provide a detailed explanation for the closure of my business and personal accounts. 2. Explain the basis for withholding my funds for up to sixty ( 60 ) days. 3. Provide a complete accounting of all funds currently being held. 4. Provide a full explanation of the {$250000.00} wire transfer recall initiated by CitiBank. 5. Confirm whether the {$250000.00} in wire funds has been recovered and identify where those funds are currently being held. 6. Provide a full explanation for the handling and restriction of the {$680000.00} incoming wire transfer. 7. Explain why account funds are being frozen despite confirmation from my CitiBank account manager, XXXX XXXX in XXXX XXXX, California, that the incoming wire recall period had already expired for the sender. 8. Provide a firm and immediate timeline for the release and return of all funds belonging to me. 9. Release any funds not legally required to remain restricted without further delay. I also request that CitiBank provide an immediate written accounting of the location and status of the {$250000.00} wire transfer, identify the reason for initiating the recall, confirm whether the funds have been recovered, and provide a definitive timeline for returning those funds to me. The complete restriction of my personal and business accounts, combined with the handling of multiple large wire transfers, has caused substantial financial hardship, disruption to my business operations, and significant emotional XXXX I am seeking immediate assistance in obtaining answers and restoring access to my funds as quickly as possible. Thank you for your attention to this matter.

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