Consumer complaint received 2025-01-30 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: CITIBANK, N.A.
State: IN

Complaint narrative:
Complainant : XXXX XXXX XXXX XXXX : Citibank Account Number ( Last XXXX Digits ) : XXXX Issue Summary : Citibank has unjustly blocked the funds in my account for over thirty ( 30 ) days, refused to provide me with copies of deposited checks, provide a detailed accounting or explanation for the closure and ultimately closed the account without releasing the balance of funds to me. As a result of these actions, I have suffered financial losses, missed investment opportunities, and experienced significant personal and financial hardship. 

Detailed Description of the Issue : 1. Fund Blocking & Prolonged Restriction : Citibank has placed an indefinite hold on my account, preventing me from accessing my deposited funds ( {$5100.00} as of the last known balance ).

This restriction has lasted for more than 30 days, which is unreasonable and has caused me financial and personal distress.

2. Refusal to Provide Deposit Records : I requested copies of the deposited checks that contributed to my account balance.

Citibank has refused to provide these records, impeding my ability to verify transactions and seek recourse.

3. Unjustified Account Closure & Withholding of Funds : Without providing a clear explanation, Citibank closed my account. 
Despite multiple attempts to recover my remaining balance, the bank has not provided the funds nor communicated any valid reason for withholding them. 
4. Financial Loss & Hardship : Due to the prolonged restriction, I lost out on multiple cryptocurrency investment opportunities, which would have yielded significant returns. The restriction prevented me from accessing my funds at critical market moments.

Additionally, I have been unable to take care of personal, family, and household financial obligations, leading to unnecessary stress and hardship.

Citibanks actions have not only caused financial damage but have also disrupted my daily life and well-being. 

Applicable Concerns & Potential Violations : Violation of Account Holder Rights : Under banking regulations, consumers are entitled to access their deposited funds within a reasonable timeframe unless there is a valid legal reason for restriction. 
Lack of Transparency & Unfair Business Practices : The banks failure to provide transaction records or communicate a legitimate reason for withholding funds violates consumer protection principles. 
Potential Violations of Regulation CC ( Expedited Funds Availability Act ) : If deposited checks have cleared but the bank continues to withhold the funds, it may be a violation of federal banking laws.

Financial Harm & Unjust Business Practices : Citibanks prolonged restriction of funds directly resulted in lost investment opportunities and inability to meet essential living expenses. 


Supporting Evidence : Attached screenshots of Citibank account balance notifications. 
Attached image of Citibank-issued debit card linked to the affected account.

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