Consumer complaint received 2024-11-05 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: CITIZENS FINANCIAL GROUP, INC.
State: NY

Complaint narrative:
Subject : Unjust Account Closure, Lack of Transparency, and Failure to Honor Promotional Bonuses by Citizens Bank I am updating my complaint after checking my mailbox and finding several additional documents. Please disregard my previous submission, as this version includes all relevant details. I am submitting this formal complaint regarding Citizens Banks recent and unjustified decision to close my account without prior notice or explanation, as well as their failure to honor the promotional bonuses I had qualified for. Their actions have left me frustrated, without access to my account, and deeply concerned about their lack of transparency and fair business practices. 

XXXX. Account Access Restricted and Lack of Transparency ( XX/XX/year> Present ) : On or around XX/XX/year>, I deposited a check related to a prospective subtenant arrangement. Shortly after, I grew suspicious that this could be a scam and immediately contacted Citizens Banks call center to report it and request a cancellation. I explained my situation in detail and asked if further steps were necessary, such as filing a police report or other preventive actions. The representative assured me that no additional actions were required and that the check would automatically be returned if unpaid by the issuer. I followed this guidance in good faith and took every possible measure to resolve the issue promptly.

However, a day or two later, I found that I could not access my account and received error messages indicating that my login credentials were not recognized. Upon calling the call center again, I was told my account was under review, but no further details or estimated resolution timeline were provided. Despite repeated calls, each representative simply stated that my account was under review, without any specific information. I inquired about discussing this in person at a branch, but was told that the branch would not be able to provide further assistance either.

2. Unclear and Nontransparent Information Regarding the Review Process : During one call, I inquired whether an external agency was conducting the review, to which the representative responded that they had no information. I then asked if Citizens Bank, when conducting a review, should at least inform the account holder of the reason. The reply was simply to wait for the bank 's conclusion. When I asked whom I could speak with, I was told there was no one available. Even visiting a branch would be futile, as they reiterated that the matter was under investigation and I should await the outcome. 

XXXX. Unjust Account Closure Without Prior Notice or Explanation ( Dated XX/XX/year> ) : On or around XX/XX/year>, I received a mail from Citizens Bank stating, We regret to inform you that we have closed the Citizens Bank accounts referenced above. We recently reviewed these accounts and have concluded that we can no longer maintain our banking relationship with you. No specific reason or explanation for this abrupt decision was provided. Furthermore, I received XXXX checks by mail, dated XX/XX/year> : XXXX for {$650.00} ( checking account balance ) and another for {$200.00} ( savings account balance ). This sudden account closure without prior notification or explanation is concerning and unacceptable. 

XXXX. Failure to Honor Qualified Promotional Bonuses : My primary reason for opening these accounts with Citizens Bank was to qualify for promotional bonuses, including a {$300.00} checking bonus and a {$100.00} savings bonus. I ensured that I met all necessary criteria, including setting up direct deposits and meeting transfer requirements. However, when I inquired about these bonuses, Citizens Bank representatives informed mewithout any clear basisthat I would not receive them. This refusal appears to be an attempt to evade their promotional obligations and seems to be deceptive marketing, as I fully met all stated requirements.

Company response to consumer: Closed with explanation