Consumer complaint received 2025-02-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem making or receiving payments
Company: CITIBANK, N.A.
State: FL

Complaint narrative:
Subject : Complaint Regarding Wire Transfer I am writing to formally express my frustration and dissatisfaction with the experience I had today while attempting to make a wire transfer from my Citibank account. The entire process was inefficient, misleading, and ultimately resulted in my funds being inaccessible when I needed them most. 

I attempted to initiate a wire transfer of {$720000.00} online to a title companys escrow account for the purchase of a property in Florida. My checking account balance was well over {$740000.00}, so there were more than sufficient funds to cover the transfer. However, I was unaware that Citibank has an online daily wire transfer limit of {$250000.00}, as this was never disclosed to me before attempting the transaction. A message appeared informing me of the limit but also stated that there are no limits when conducting a wire transfer at a Citibank branch. 

Following this guidance, I visited the XXXX XXXX, FL branch expecting to complete the transaction in person. To my surprise, I was informed that I needed to schedule an appointment to process the wire. I complied and scheduled an appointment for two hours later. Before my appointment, I received a call from the branch advising me that they could not assist me because my account is linked to a New York branch, and I would need to speak with my assigned banker.

At this point, I was completely unaware that I even had a personal banker, as I had never been contacted by one before. I was provided with a name and phone number and was left to resolve the issue on my own. Upon speaking with this banker for the first time, he informed me that he could not assist me with processing the wire transfer either. His only suggestion was to split the payment into three separate transfers over three days via online banking or to send a fax to the wire transfer department. I was astonished by this responsefaxing is an outdated method that individuals do not typically use to initiate financial transactions, especially when dealing with large sums of money.

In summary, Citibank was completely unable to process a wire transfer above {$250000.00}, despite the message I received stating that in-branch transfers had no such limitations. Not only was this misleading, but I was also given multiple excuses as to why the bank could not assist me. As a result, my money was effectively trapped, and I was unable to proceed with my real estate purchase as planned.

I expect an immediate explanation regarding why this occurred, clarification on Citibanks actual wire transfer policies, and a resolution to prevent this from happening again. This experience has severely impacted my trust in Citibanks ability to handle high-value transactions, and I am now reconsidering my banking relationship. 

I look forward to your prompt response. 

Sincerely, XXXX XXXX XXXX

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