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Had to call a rep, who seemed annoyed, but she did her job and filed a "dispute" on my behalf which worked. The bonus shoukld have been paid in Sep but wasn't.
My question is, can I now bring my 50K back so I can get an actual interest rate without penalty? Or will this threaten the bonus. Anyone know? I really no longer see a use for this account. .1% interest has been getting me $4 a month interest. But i don't want get into a monthly fee situation. So can I just zero out the account?
Thanks.
The 2% cash back credit card is very good, but you need their debit card in order to manually add an external account or to make an online payment from your checking account.
I opened an accelerate savings account with Citi recently for the good APY and welcome bonus. When I think of a savings account, I expect to be able to access my money quickly if necessary. I have since found out that is not the case with this Citi account. They limit transfers back out of the account to $10,000 daily / $15,000 max per month. However, it has been several days since my initial $10,000 money transfer and their online functionality is not allowing me to transfer the balance $5,000. Customer service was extremely unhelpful and said there was nothing they could do. Not to mention that to now move back out all the money in the account to my local bank would take months and months if the system was working. My only other option is a wire transfer which has a fee. Not a fan of having to pay a fee to access my own money. Needless to say I will be paying the wire transfer fee to get my money out of this account and taking it elsewhere where I can access it when I need it.
At the end of December 2022, I saw Citibank's new account promotion, "Deposit and maintain a balance of at least $75,000: $1,000 cash bonus," and decided to use it. I opened an account and transferred 75K from a Wells Fargo checking account that my husband and I are using jointly as our main checking account. When I tried to check if the money had reached the Citibank, I discovered that I couldn't log in. I called Citibank customer service and was referred to your fraud prevention department (844-856-8815 option 4). I called them, and my nightmare began.
Most of the representatives I talked to at that number had a very heavy accent. So much so that I couldn't understand half the words they were saying, but the worst part is that they didn't understand my words. I was advised that my account is marked for closure because of a "third party transaction." I tried to explain that I transferred the money from my joint account with my husband. We even pay our joint citi credit card from the same account every month for 6 years. It led nowhere.
The first representative advised me to contact Wells Fargo and reverse the transaction. I did, which turned out to be completely wrong advice because Wells Fargo determined that it was a legit transfer, not a fraudulent one, which they couldn't reverse.
I contacted the Citibank fraud prevention department again and tried to reach a supervisor. I've been promised a call in 48 hours. Nobody bothered to call.
Then I called again and was advised that I needed to go to the local branch with my husband and submit paper proof that he was my husband.
We went to the branch. The banker checked the notes on my account and discovered that a representative from the citi fraud prevention department wrote on my account that the funds were transferred from my cousin, not my husband's and my joint account. I guess, the language and cultural barrier prevented him from understanding that a husband and a wife could have different last names.
We submitted all the paperwork (our passports, marriage certificate, driver licenses, Wells Fargo checkbook with both our names, joint tax return for the last year, and our children's birth certificates) at the branch and were assured that the account will be reopened in the same magical "48 hours". 48 has passed, and nothing has changed.
As a next step, I contacted citi executive resolution team. They were eager to help, but they have absolutely no power over fraud department. They claimed that they received no documents (although I submitted them twice: in the branch and to executive resolution team) and they can’t reverse the course once they decided to close an account. I was advised to wait 90 days and expect a check in the mail sometime after that.
Then I wrote a complaint to OCC and CFPB.
It looks that this did the trick. In 2 weeks citi did send me a check for $75k.
Needless to say, nor I, not my husband will never do business with citi ever again.
Overall | |
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FDIC Certificate # | 7213 |
Year Established | 1812 |
Employees | 191081 |
Primary Regulator | OCC |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.05% |
Return on Equity - YTD | 10.99% |
Annual Interest Income | $21.57B |
Assets and Liabilities | ||
---|---|---|
Assets | Q1 2023vs Q1 2022 | $1,721.5B$1,718B |
Loans | Q1 2023vs Q1 2022 | $614.3B$648.9B |
Deposits | Q1 2023vs Q1 2022 | $1,355.3B$1,373.4B |
Equity Capital | Q1 2023vs Q1 2022 | $167.5B$164.2B |
Loan Loss Allowance | Q1 2023vs Q1 2022 | $15.62B$13.94B |
Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $4.29B$5.14B |
Real Estate Owned | Q1 2023vs Q1 2022 | $16.0MM$23.0MM |
Always verify rates and promotions with the bank or credit union. We are not Citi; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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4.05% | $1 | - | Citi Accelerate Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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0.00% | - | - | Citi Priority |