Consumer complaint received 2025-02-17 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: CITIBANK, N.A.

Complaint narrative:
Complainant : XXXX XXXX Passport number : XXXX Address : XXXXXXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Institution Complained Against : Citibank Citi Abandoned Property Unit XXXX XXXX XXXX, XXXX XXXX XXXX, MO XXXX Subject : Checking account Closure for Abandonment nro Account XXXX I am filing this formal complaint against Citibank due to their mismanagement of my account ( No. XXXX with USD XXXX ), repeated misinformation from their representatives, and failure to properly notify me before transferring my funds to the state of South Dakota. 

In XX/XX/XXXX, I received an email from Citibank informing me that since I had not made any transactions or updated my banking information in the past three years, my account would be declared abandoned. In XX/XX/XXXX, I traveled to XXXX , USA, exclusively to resolve this matter at Citibank 's XXXX offices. I personally showed the bank representative the email I had received, and they assured me that updating my account information and activating my new card would be sufficient to keep my account active. 

However, despite following their instructions, I was never able to use the card or make transfers, and since then, I have made multiple attempts to resolve this issue. I contacted Citibank several times via phone, customer service chat, and written correspondence, always following their instructions. Despite my compliance, in XX/XX/XXXX, Citibank still declared my funds abandoned. 

Since I was unable to use my account, in XX/XX/XXXX, I contacted Citibank again to inquire about the issue. At that time, I was incorrectly informed that my funds had been transferred to the State of Florida and that I needed to initiate a recovery process with them. 

I immediately initiated the process with the State of Florida, but their response was that they had not yet received my funds. They advised me to continue resolving the issue with Citibank before the official declaration, as once funds are transferred, the process becomes significantly more complicated due to the high volume of claims ( over 3 million cases annually ). 

Following this advice, I sent two additional letters to Citibank, explaining the situation and requesting their assistance. However, on XX/XX/XXXX, I received a response stating that my funds were actually transferred to South Dakota, not Florida, citing account inactivity. 

Major Concerns and Impact : -Repeated misinformation from Citibank representatives regarding the location of my funds ( first Florida , then South Dakota ).

-Failure to properly notify me of the account closure and transfer of funds, despite my active attempts to resolve the issue. 
-Lack of internal coordination and poor customer service, leading to unnecessary stress and financial hardship for me. 
-Failure to process my XXXX requests for my new card to be sent to my residence in XXXX , further complicating my account status. 
-Severe financial impact on me, as I urgently need access to these funds and have been unable to retrieve them due to Citibanks mismanagement. 

Requested Resolution : -Immediate return of my funds by Citibank or issuance of a check sent to my address in Florida , as my funds do not appear in the State of South Dakota 's unclaimed property system ( XXXX XXXX XXXX ). 
-Citibanks direct assistance in resolving this case, acknowledging that I have received incorrect guidance from their representatives since the beginning. 
-A full investigation by the CFPB into Citibanks handling of inactive accounts and their policies regarding international customers to prevent similar issues from occurring. 
-If applicable, regulatory action by the CFPB to ensure Citibank improves its customer service, internal training, and notification processes for inactive accounts. 

I am submitting this complaint with the expectation that corrective action will be taken immediately. I appreciate your attention to this matter and look forward to your prompt response.

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