Consumer complaint received 2025-06-01 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: CITIZENS FINANCIAL GROUP, INC.
State: MD

Complaint narrative:
Citizens Bank has shut down my account and has not given any clear explanation.On XX/XX/XXXX, I deposited a check into my business account at Citizens Bank. As I had done many times before, the check included both my business partner 's and my signatures. The funds were from a vehicle I soldmy business routinely deals in vehicle sales, and similar deposits had previously been processed without issue. 

On XX/XX/XXXX, Citizens Bank confirmed the check had cleared and received the funds. However, they placed a hold on the deposit, citing concerns over a double endorsement because my business partner is not listed on the account. The hold was initially scheduled to lift on XX/XX/XXXX. I followed up daily, and after calling the issuing bank myself to obtain direct verification of funds, I provided that information to Citizens. 

Rather than releasing the funds, Citizens extended the hold again to XX/XX/XXXX. Every representative gave a different reason : double endorsement, account type, pending back-office review, or unverifiable fundsall of which contradicted each other and failed to justify the delay. 

I returned to the buyer and requested either a new check or the return of my vehicle. They refused, stating the funds were withdrawn by Citizens on XX/XX/XXXX, and could not be recalled. On XX/XX/XXXX, I visited the Citizens branch in XXXX, MD and was told the check was still being held by the back office. But when I called Citizens ' XXXX number, I was told that on XX/XX/XXXX, the bank had decided not to release the funds and would return the money to the issuer by XX/XX/XXXX. 

However, when I followed up in person on XX/XX/XXXX, at the XXXX, DE XXXX, I was told the hold had been extended yet againthis time until XX/XX/XXXX. This directly contradicts what I had been told before, and makes no sense since the bank had already claimed the funds would be returned. 

In the meantime, I applied for a small business loan at Citizens Bank to mitigate the financial hardship their actions caused. I was denied on the grounds that Citizens " doesn't deal with businesses like mine, '' despite the fact that they had accepted all of my previous deposits, including cash and checks. I appealed and offered collateral, but was still refused. Subsequently, Citizens shut down my business bank account entirely. 

Because of Citizens Bank 's mishandling of this one transaction, my business was irreparably harmed. While {$18000.00} may not be a significant amount to a bank, it represented critical operational capital to my company. Their delays, refusal to return the check, and eventual account closure caused my business to fail. 

I am demanding compensation of {$18000.00} for every day the bank improperly withheld or failed to return these funds. Citizens Bank 's inconsistent communication, unexplained holds, and refusal to resolve this issue show a pattern of negligence and potentially fraudulent behavior. 

This matter must be addressed immediately. I am prepared to escalate to regulatory authorities and pursue legal action.

Company response to consumer: Closed with explanation