Consumer complaint received 2025-12-16 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem accessing account
Company: CITIBANK, N.A.
State: FL

Complaint narrative:
b'Financial Institution: Citibank, N.A.\nType of Account: Business account\nCountry of Account: United States\nAccount Holder: XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX\n\nI am submitting this formal complaint regarding Citibank, N.A.s prolonged and unjustified restriction of a U.S. business account, which has now extended beyond fifteen (15) months, and which has escalated into a unilateral account blocked and closure with funds still retained by the bank for an amount about XXXX.\nThe account was originally restricted due to questions regarding the source of funds. Since the beginning of this process:\nAll documentation requested by Citibank has been provided immediately and in full, including corporate records, proof of source of funds, tax filings, and repeated verification requests.\nThe Internal Revenue Service (IRS) has already reviewed the matter, retained applicable taxes, and effectively validated the legitimacy of the funds.\nDespite this, Citibank continued to request additional documentation without identifying any unresolved deficiencies or providing a lawful basis for continued restriction.\nCitibank representatives repeatedly communicated specific resolution deadlines, all of which were missed without explanation.\n\nIn February 2025, Citibank unilaterally closed the account, notifying the account holder only by email, and simultaneously revoked all online access, making it impossible to view balances, transaction history, or account status through Citibanks platform.\nDespite the account being closed:\nAll funds remain retained by Citibank;\nNo funds have been returned, transferred, or made accessible to the account holder;\nNo court order, government mandate, or legal hold has been provided to justify the continued retention of funds in a closed account.\nTo date, Citibank has failed to issue:\nA written explanation citing the specific legal or regulatory authority permitting the retention of funds after account closure;\nAny documentation indicating that a government agency or court requires the funds to remain frozen.\n\nCitibanks conduct raises serious concerns regarding:\nImproper retention of customer funds following account closure;\nFailure to provide required transparency regarding legal or regulatory holds;\nUnreasonable delay and lack of due process after completion of all requested due diligence;\nMisleading communications, including repeated assurances of resolution that were not honored.\n\nWe respectfully request that the appropriate regulatory authority review Citibanks actions and require the bank to:\n1. Provide a written statement identifying the precise legal or regulatory basis (if any) authorizing the continued retention of funds after account closure;\n2. Confirm whether any government agency, court order, or legal hold mandates the restriction;\n3. Establish and comply with a definitive and enforceable timeline for resolution;\n4. Immediately release the retained funds if no lawful basis exists for continued retention.\n\nSincerely,\XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 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