Consumer complaint received 2025-11-22 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Deposits or withdrawals
Company: CITIBANK, N.A.
State: AZ

Complaint narrative:
Ive been a customer of Citi Bank for years. A few weeks ago, out of the blue with no notification they froze two of my accounts. I asked the branch why this happened. They said thats strange and that you need to call them. I said nope not my problem .why dont you call them? Why wasnt I notified that they were going to do this?

They said they mailed me notifications. I got no notices. I closed out both of those accounts. They were small savings accounts. Then approximately 2-3 weeks later, they took it upon themselves to close out my remaining two accounts which were a Cd with approximately XXXX in it and another liquid Cd with approximately XXXX in it. Once again, no notice. If I wasnt locked into a Cd paying me 4 % and a liquid savings account paying me 4 % I would have taken all of my money out of the bank when they froze my other two accounts.

After I logged into my Citibank account to check on my Credit card payment, I noticed the remaining two of my accounts were closed. I immediately went to the branch who were very cooperative and helpful to see what the problem was. They told me it was a XXXX thing. They wanted to know the source of my income. Granted, I dont have my paycheck deposited there. I have it deposited at XXXX bank. Why all of a sudden after all of these years, is it now a problem? Because they started the ball rolling on closing my account I declined to give them my source of income. The banking system also sees the source of my income from my interest income, my direct deposits at XXXX XXXX and XXXX and my taxes I do each year. They got their KYC corporate on the phone to try and get this resolved. Their response was sorry, the accounts were already in the process of being closed and there was nothing they could do. I said thats not right, please reinstate my accounts so I could cancel them without penalty and cut me a check today. The corporate office wouldnt do it. The bankers there trying to help me were dumbfounded as I was. Its my money. Why do I need to wait for them to cut me a check and mail it to me.? The bank is now costing me money. Not only cant I get a 4 % return on my money because the rates have fallen, but now Im getting XXXX interest on my money because they refused to give me a check that day. Im going to lose 3.5 %/ the best rate I could find on a CD right now until my check comes in the mail and another 1/2 percent for the next 6-7 months when my CD would mature. Why do I need to lose money because they refused to give me MY MONEY to me right then and there? If Citi bank doesnt want to do business with me any longer, Im fine with that. But when their policy is to cancel my accounts and tell me your check will be sent to you and hasnt even been mailed yet, Im not OK with. Citibank needs to pay me for this lost revenue.

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