Checking or savings account -- Managing an account -- Complaint #9629960
Complaint Overview
Complaint ID: 9629960
Company: Citizens Financial Group, INC.
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: Pennsylvania
ZIP Code: 19438
Date Received: 2024-07-26T12:00:00-05:00
Date Sent to Company: 2024-07-26T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I am writing to address an issue with the transfer of funds from my XXXX account to my Citizens Bank account. On Wednesday, XX/XX/XXXX, I requested an XXXX transfer from XXXX XXXX to my Citizens Bank account . Despite multiple checks on my account and follow-up calls with Citizens Bank on Thursday and Friday, there was no update. I was advised to contact the originator of the funds. On Friday, XXXX XXXX confirmed that the transfer was completed on Thursday, XX/XX/XXXX. However, Citizens Bank indicated that they had not received the funds. I was then informed on Saturday that my account had been closed in XXXX, and as a result, any incoming funds were automatically rejected. I have two other active accounts with Citizens Bank, on Monday I was told the situation was being reviewed. After extended wait times and multiple transfers, on Tuesday, XX/XX/XXXX, a gentleman stated that the funds were received, on XX/XX/XXXX. Citizens Bank had taken the amount of their fees that created the negative balance before they charged it off and then they placed my remaining balance on a twenty-day hold for verification, but did not try to contact me. I understand that procedures are necessary, but it seems unusual for an XXXX to take so long, especially given the use of FedACH or FedWIRE systems. I requested that the remaining funds be credited to one of my active accounts but was informed that this would be processed as a check refund, taking an additional fifteen business days. Given my long-standing relationship with Citizens Bank , I find this situation concerning. I have also experienced disruptions in our family life, due to the preventable delay, including internet and cell phone service disconnections, which are impacting my ability to manage daily expenses, responsibilities and seek contact with possible resources. I have been provided with Case # XXXX and have been advised to follow up. I request your assistance in expediting the resolution of this matter, including the potential reallocation of funds to one of my active accounts or prompt processing of the refund. Additionally, please confirm the status of the refund process and provide any necessary documentation or updates. Thank you for your attention to this matter.
Frequently Asked Questions
What is Complaint #9629960 about?
Complaint #9629960 was filed against Citizens Financial Group, INC. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-07-26T12:00:00-05:00.
How did Citizens Financial Group, INC. respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Citizens Financial Group, INC.?
Yes, visit the Citizens Financial Group, INC. company profile at readthecomplaint.com/company/citizens-financial-group-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.