Consumer complaint received 2025-05-13 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: CITIBANK, N.A.
State: IL

Complaint narrative:
We opened a business checking account XX/XX/year>2025. We deposited {$5000.00}. Ordered checks which we received. Opened the online account and can see the {$5000.00} deposited. Received an ATM card 10 days later and activated it. All good. No suggestion that there was a problem at all. 

XX/XX/XXXX was notified by our business partner that his wire transfer did not go through. 
XXXX called the local banker with whom I set up the account. He suggested that we drop the leading " XXXX '' on the account number and perhaps that was why it didn't go through. 

XX/XX/XXXX, business partner again tries to wire money for a lesser amount and same thing. 
His bank tells him it's because the account number does not match the company information and is rejected by Citibank. The account number and routing number all match. Call banker and he says account is on hold and he's going to look into it. 

XX/XX/XXXX Banker called and says there was a mistake on the papers he submitted so I should come back in and sign a corrected one. Banker says there was a hold b/c of this but when he sends it in, it'll be cleared. 

XX/XX/XXXX Call Banker account still not cleared. He is calling Citibank to figure out why. 

XX/XX/XXXX Banker calls and says I need to call Citibank 's Fraud department because they're the ones putting a hold my business account. I call them- a 25 minute call, they tell me it's not their department that has put the hold on, they transfer me to their " Know Your Customer '' department. I talk to the " know your customer '' department, they say, no it's not us, they transfer me to the business services contact department. They tell me, " no it's not us, it's the the " Know your customer department '' and send me back to that department and they again tell me no it's not them. 

XX/XX/XXXX, I call my local banker, and tell him no one seems to know what I'm talking about. No one seems to know why the account is blocked and no department I talked to is taking responsibility for the block. 
XX/XX/XXXX Monday, I call the banker and say, I '' m coming in to close the Account. I'm done. 
While driving to the bank branch to close the account, he calls and says, " you can't get your {$5000.00}. back today because your account is pending closure by the Fraud department. 
I'm like " what the heck?! '' Why?? No one can tell me. The Fraud department the previous Thursday denied it even had a block on my account.

So, I learn my account is being closed, nearly one month after it was opened.

I don't know why it's being closed and no one can tell me. AND FURTHER, my banker can't tell me when I might get my {$5000.00} back. What I have been told is that Citibank will send me a letter telling me that my account was closed and then they have up to 90 DAYS to return my {$5000.00}.

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 monetary relief