Consumer complaint received 2026-03-09 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Deposits or withdrawals
Company: CITIZENS FINANCIAL GROUP, INC.
State: PA

Complaint narrative:
On XX/XX/XXXX, I deposited a {$7500.00} corporate settlement check into my checking account at Citizens Bank using the banks mobile deposit feature. The check was issued to me as part of a settlement payment from a corporate entity. The next day the funds initially appeared available in my account. Shortly after that, the bank reversed the availability and placed an extended hold on the funds due to what they described as a verification issue with the issuing bank. Since that time, the bank has repeatedly extended the hold instead of releasing the funds or returning the check to the issuer. The hold dates have been extended multiple times. The first extended hold was placed until XX/XX/XXXX. When that date arrived, the bank extended the hold again until XX/XX/XXXX. When XX/XX/XXXX arrived, the hold was extended again until XX/XX/XXXX. On XX/XX/XXXX, instead of resolving the issue, Citizens Bank extended the hold for a fourth time until XX/XX/XXXX. During this entire period, I have made extensive efforts to resolve the issue with the bank. I have contacted Citizens Bank customer service and representatives approximately XXXX times or more regarding this deposit hold. I have spoken with multiple representatives and supervisors requesting assistance and asking for the bank to either verify the check, release the funds, or return the check to the issuing party so that the payment could be reissued electronically. To help the bank verify the check, I provided Citizens Bank with the contact information for the attorney associated with the settlement who issued the check, including the attorneys name and law office contact number. I also provided the phone number and contact information for the corporate companys treasury department that issued the settlement payment. In addition, I provided the contact information for the issuing bank, which is XXXX XXXX XXXX, so that Citizens Bank could directly contact them if needed to verify the check. Despite providing all of this information and repeatedly asking the bank to verify the item, Citizens Bank representatives told me they were unable to verify the check with the issuing bank. I have communicated with the corporate company that issued the settlement check and their treasury department multiple times as well. They consistently informed me that from their side the check was valid and cleared their account. They also stated that there was nothing further they could do unless Citizens Bank either verified the check directly with the issuing bank or returned the check to them so the payment could be reissued through another method such as ACH or wire transfer. At this point, the situation has become extremely frustrating because the check has been in a prolonged hold status for over XXXX months. Citizens Bank continues extending the hold rather than providing a clear resolution. I have repeatedly asked the bank why they can not simply return the check to the issuer if they are unable to verify it, but I have not received a clear explanation. As a customer, I have made every effort to cooperate and provide the necessary information to resolve the issue. However, despite dozens of calls and multiple escalations to supervisors, the bank continues to extend the hold without releasing the funds or returning the check. I am requesting that Citizens Bank either release the funds if the check has cleared through the banking system or immediately return the check to the issuing company so that the payment can be reissued electronically. I am also requesting a clear explanation for why the hold has been extended multiple times despite the information and contacts that have been provided to assist with verification.

Company response to consumer: Closed with explanation