Consumer complaint received 2024-06-20 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Can't close your account
Company: CITIBANK, N.A.
State: CO

Complaint narrative:
This is my second complaint against Citibank. The initial complaint was simply trying to " unlock '' my account. This complaint is in regards to a separate issue involving trying to close the same account. 

I am trying to close my Citibank Accelerated Savings Account. I opened the account on or about XX/XX/XXXX. Subsequent to XX/XX/XXXX I have not made any deposits or withdrawals from the account. In the course of time I received numerous notifications from Citibank that my account had been locked due to " inactivity. '' As this is a traditional savings account I did not respond or engage in any " activity. '' Recently I tried to close my Citibank Accelerated Savings account. I was informed that my account had been locked due to " inactivity '' and that I was not allowed to close, withdraw or transfer any of my money w/o going through a lengthy onerous process of re-activating/unlocking my account : drive to nearest branch ( I live in CO - nearest Branch is in XXXX XXXX XXXX or send them a notarized letter ( closest Notary is 30 miles & charges a Notary fee ) via snail mail and wait. 

Locking my savings account due to inactivity WAS NOT disclosed under the Terms of opening a savings account - I specifically inquired about this prior to opening the account. I have a copy of the original Terms of the account upon opening. There is no language referring to " locking '' an account due to inactivity. 

In addition, the Citibank Website states : If you ask for my personal and financial information and I don't provide it will you place restrictions on my account? 
If we don't receive the requested information, we may restrict your accounts.

For checking, savings and money market accounts, you won't be able to make deposits, withdrawals or transfers. Those transactions will be denied or returned. YOU MAY STILL CLOSE YOUR ACCOUNT. ( emphasis added ) In short by your own statement I should be able to close my account w/o providing the personal & financial information requested to " unlock my account. '' Unlocking my account and closing my account are two ( 2 ) separate issues! Without disclosing that you would close my account due to inactivity YOU closed my account and now YOU impose the requirement of providing personal & financial information to unlock my account in order to close my account- which is ILLEGAL and in contradiction to what you state on your website! 

As much a Citibank may attempt to justify this behavior under the aegis of " know your client '' and trying to ensure the security of my account by denying or encumbering access to my account w/o prior full disclosure IS ILLEGAL. Verifying identity is a simple and expedient process in today 's world. I have confirmed this with my Fiduciary as well as legal counsel. I have no problem with verifying my identity by providing either by telephone or on the Citibank website the answers to the security ( or any other ) questions essential to verify my identity. But I WILL NOT drive to XXXX XXXX or get a notarized letter.

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