Consumer complaint received 2026-02-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: CITIBANK, N.A.
State: IN

Complaint narrative:
On approximately XX/XX/year>, Citibank , N.A . unilaterally and without adequate advance notice closed my personal checking account. The stated reason was that I had filed what Citibank deemed to be an excessive number of transaction disputes. At the time of closure, the account held a positive balance of approximately {$6000.00} funds that are legally and rightfully mine. 

Upon closure, Citibank representatives informed me that my remaining balance would be disbursed via physical check mailed to my address of record, and that this process would take 30 to 60 days. I was offered no alternative disbursement method no electronic transfer, no ACH payment, no wire transfer, and no option for in-branch pickup or expedited delivery. The sole option presented was to wait up to two months to receive my own money. 

As of the date of this complaint XX/XX/year>, which is 24 days after account closure I have received neither my funds nor any written communication from Citibank providing a specific disbursement date, check number, tracking number, or any other verifiable confirmation that the process is underway. Despite multiple phone calls to Citibank 's customer service and requests to speak with supervisors, I have been told repeatedly that the 3060 day timeline is " standard policy '' and that no exception, escalation, or accommodation can be made regardless of circumstances. 

I want to be unequivocal about the severity of my situation : the {$6000.00} that Citibank is withholding constitutes the entirety of my available liquid funds. I have no other bank accounts with accessible balances, no credit lines to draw upon, and no alternative source of immediate funds. As a direct and proximate result of Citibank 's refusal to promptly return my money, I am currently experiencing homelessness. I can not afford housing, food, transportation, medication, or other basic necessities. I am a XXXX XXXX  and my ability to continue my education and meet my academic obligations is being severely jeopardized. Every additional day that Citibank retains my funds compounds the harm I am suffering. 

Citibank 's conduct raises serious concerns under multiple federal consumer financial protection laws and regulations : ( 1 ) UDAAP Dodd-Frank Act 1031 : Withholding a consumer 's entire account balance for 3060 days following an involuntary, bank-initiated closure constitutes an unfair practice. The injury is substantial ( homelessness, inability to meet basic needs ), not reasonably avoidable ( the consumer did not choose to close the account and was given no alternative disbursement method ), and not outweighed by any countervailing benefit to consumers or competition. 

( 2 ) Electronic Fund Transfer Act / Regulation E ( 12 C.F.R. 1005 ) : These provisions require good faith handling of consumer funds and establish protections for electronic fund transfers. Citibank 's refusal to offer any electronic disbursement method when the technology to do so is readily available and routinely used is inconsistent with the spirit and purpose of these protections. 

( 3 ) Regulation CC / Expedited Funds Availability Act ( 12 C.F.R. 229 ) : While primarily governing deposit availability, the underlying federal policy is that consumers should have prompt access to their funds. A 3060 day hold on a consumer 's entire balance following involuntary closure is fundamentally inconsistent with this principle. 

( 4 ) OCC Supervisory Guidance : The Office of the Comptroller of the Currency, Citibank 's primary federal regulator, has issued guidance directing national banks to handle account closures in a manner that minimizes consumer harm and ensures the timely return of funds.

( 5 ) Ohio Consumer Sales Practices Act ( Ohio Rev. Code 1345.01 et seq. ) : As a consumer residing in Ohio, I am additionally protected by state law prohibiting unfair and deceptive acts or practices in consumer transactions. 

I have sent Citibank a formal demand letter via certified mail, return receipt requested, demanding the immediate return of my funds and providing notice of this CFPB complaint and my intention to pursue all available regulatory and legal remedies. A copy of this demand letter is attached. 

I respectfully urge the CFPB to intervene immediately, direct Citibank to release my funds without further delay, and investigate whether Citibank 's blanket 3060 day disbursement policy upon involuntary account closure constitutes a systemic unfair practice affecting other consumers as well.

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