Consumer complaint received 2025-06-12 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: CITIBANK, N.A.
State: OH

Complaint narrative:
Hello, On XX/XX/year>, I attempted two legitimate fund transfers from my checking account with Citibank to trading platform Coinbase for investment of that portion of the retirement fund I had recently withdrawn from Empower Financial. The path for these funds from XXXX, through my XXXX account that was tied to the retirement fund, is easily verifiable, as I mentioned to Citibanks customer service teams on a number of occasions. XXXX is a legitimate, fintech company that operates in compliance with all pertinent United States regulations, as well as those of international markets. The transaction process complied with all bank regulations. 

Yet, without prior notice or clear explanation, Citibank froze my bank accounts on XX/XX/year> causing me great inconveniences, including : Inability to access legitimate funds in the account on the order of {$76000.00}, Inability to make needed bill payments and financial arrangements, Credit history may be negatively affected. 

On the morning of the XXXX, I called Citibank, because I had noticed my funds had not reached XXXX, and my Citibank online profile was inactive, instructing me to call the number on the back of my debit card. I did so, and I was informed that my account had been closed, and I was transferred to their Fraud department. It was then I learned that not only were my accounts frozen but my {$75000.00} in transfers and {$1000.00} in checking balance and been seized. I was told the transfers were under review, and that I would be receiving a letter explaining why the funds were seized, and what the recovery process would entail and how the matter would be resolved. I was also informed that I would not be refunded my money for another XXXX days. I later received an email that day from Citibank stating the same. My XXXX  called the company customer service line later with other questions, but she was told there was nothing more they could offer, that they would be able to answer some of her questions on the following day. When we called the following day, they again stated we would not get any explanation until we received the letter in 10 days.

Waiting for the letter until after the XXXX XXXX weekend, on the XXXX, we received no letter. When I called the customer service line again on the morning of the XXXX, I was again directed to their Fraud team, who informed me that the refund, if any, would come in XXXX  days from then, but no letter would come before that. They told me I should expect to receive the explanatory letter along with any funds they deemed were due me at the end of the XXXX period. 

After some additional research into this form of treatment to which Citibank has subjected other customers recently, I found that I should appeal to Citibanks Citi Executive Response Unit. On XX/XX/year>, I sent my appeal to the CERU stating the details of the matter and my account specifics. I received a confirmation of the receipt of that email later that day. In my email, I stated I would file a complaint with CFPB by XXXXXXXX were no response from Citibank forthcoming. XXXX, XX/XX/year>, I received another email from Citibank stating that my closed accounts ( checking and savings ) will automatically close within XXXX  days ; there is no statement regarding why the accounts were closed other than the terms of the account per the client manual were violated, but they do not specify how, and I was ensured every use of my account was within guidelines at the time the mobile app and online site are very explicit with each action performed what is proper.

So, now I am filing this complaint with your bureau regarding Citibanks seizure of {$76000.00} of mine. 

Thank you for your attention in this matter. 

Respectfully, XXXX XXXX

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