Consumer complaint received 2026-05-29 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: CITIZENS FINANCIAL GROUP, INC.
State: NH

Complaint narrative:
Subject : Formal Complaint Regarding Extended Hold on Business Check Deposit Citizens Bank I am filing this complaint regarding what I believe to be an unreasonable and insufficiently explained extended hold placed by Citizens Bank on a large business check deposit that is critically affecting my companys operations and payroll. I have been a Citizens Bank customer for approximately four years and maintain a long-standing banking relationship. I operate a legitimate XXXX XXXX in New Hampshire and use this account for normal business operations, including payroll, vendor payments, and project expenses. Recently, I deposited a business check in the amount of approximately {$46000.00}, issued by a customer for completed construction-related work. After depositing the check, I was initially informed that the funds would become available on or around XX/XX/year>. Based on that representation, I planned payroll and company obligations accordingly. However, after checking my account again, I discovered that a new hold had been placed extending the availability date by approximately two additional months, into XXXX, without a clear explanation. I visited a Citizens Bank branch in person and was informed that the hold remained in place, but I still have not received a sufficiently clear explanation regarding : 1. The exact legal basis for this extended hold under Regulation CC ; 2. Whether the check has already been collected from the paying bank ; 3. Whether the paying bank has honored or rejected the check ; 4. Why the original availability date was changed ; 5. Why such an extreme extension period was deemed necessary despite my account history and banking relationship. The maker of the check informed me that the funds had already been withdrawn from their account, which increased my concern and confusion regarding the prolonged hold. This situation is creating severe hardship for my business. I have employees and subcontractors who rely on timely payroll payments, and this hold is significantly interfering with normal business operations. My company has ongoing construction obligations, and the inability to access deposited business funds has created immediate financial strain. I respectfully request that Citizens Bank provide : * A full written explanation of the legal and factual basis for this hold; * Confirmation of whether the check has been collected or is still pending; * Clarification as to whether this is a fraud review, collectability concern, or Regulation CC exception hold ; * An immediate review of whether all or part of the funds may be released based on my established account history and business banking relationship. I am not seeking special treatment, only transparency, fairness, and compliance with applicable banking regulations. I would appreciate prompt review of this matter due to the impact on my business operations and payroll obligations. Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation