- Report: #420032
Complaint Review: Citizens Bank - Nationwide
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Citizens Bank
citizensbank.com Nationwide, U.S.A.
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Citizens Bank misleading practices holding $10,000 of my dollars for weeks. Nationwide
Over three weeks ago, my Citizens Bank Gold Rewards Debit Mastercard was stolen and used fraudulently. Over $1300 was purchased on the card in 3 hours before the bank shut down the card. I called the bank the next day when my mortgage check and day care checks hits overdrawing the account. I was given multiple stories by the different people at customer service and in the fraud department as to how to handle the situation -- but I was told "don't worry, you'll get your money back -- plus bounced check fees in 7-10 business days." I filed a report with the police department too.
10 days after the incident I called customer service only to be told the following (each person I talked to changed their story) Person #1: "We never received your report -- once we do, it takes 10 business days. Person #2: "We received your report, but it can take 14 business days. Person # 3, supervisor: "We received your report, it takes 4 (FOUR) WEEKS to get your money back, but if the police catch the person who stole the card, then we don't refund your money because then you need to go after the person who stole the card for the money." WHAT... ARE YOU KIDDING ME??
So, needing to make my mortgage payment and now having bounced a day care check -- I needed money. So, I deposited 2 checks (payments from my customers) for just under $8,000. Well... guess what? Sorry, Citizens has decided to put those checks on hold FOR 10 BUSINESS DAYS!!! Why? No one can tell me for sure. The manager of my local branch, who really has been super helpful, says because Citizens needs to protect themselves (I think to myself, wait a minute... are they accusing me of something???)
So I call the 800 customer service number. He tells me that somewhere in some little back room, Citizens Bank has a person who calls all the checks (that's right, this guy actually believed what he was saying too!) And, that this person called Bank of America on which my deposited checks were written and they wouldn't say the checks would be paid, there fore they are holding them for 10 days. The only way I circumvent this is to provide Citizens with a contact name and number at Bank of America.
So, I do the legwork and find someone of position at Bank of America willing to talk to Citizens. Citizens calls them, confirms that the checks are good (three times they call -- just to be sure). The contact at Bank of America even offers to send a written letter stating that they are. And, guess what? Citizens STILL WON'T RELEASE ANY OF MY MONEY.
Meanwhile, I've incurred late fees, gotten marks on my credit for late payment, I've had to take off from work, my son's daycare provider is pretty angry as I now owe her 1 month's fees.... I am just beside myself that a bank whom I've been with for 10 years would treat me this way....
Anonymous in pa
NA, Pennsylvania
U.S.A.
10 days after the incident I called customer service only to be told the following (each person I talked to changed their story) Person #1: "We never received your report -- once we do, it takes 10 business days. Person #2: "We received your report, but it can take 14 business days. Person # 3, supervisor: "We received your report, it takes 4 (FOUR) WEEKS to get your money back, but if the police catch the person who stole the card, then we don't refund your money because then you need to go after the person who stole the card for the money." WHAT... ARE YOU KIDDING ME??
So, needing to make my mortgage payment and now having bounced a day care check -- I needed money. So, I deposited 2 checks (payments from my customers) for just under $8,000. Well... guess what? Sorry, Citizens has decided to put those checks on hold FOR 10 BUSINESS DAYS!!! Why? No one can tell me for sure. The manager of my local branch, who really has been super helpful, says because Citizens needs to protect themselves (I think to myself, wait a minute... are they accusing me of something???)
So I call the 800 customer service number. He tells me that somewhere in some little back room, Citizens Bank has a person who calls all the checks (that's right, this guy actually believed what he was saying too!) And, that this person called Bank of America on which my deposited checks were written and they wouldn't say the checks would be paid, there fore they are holding them for 10 days. The only way I circumvent this is to provide Citizens with a contact name and number at Bank of America.
So, I do the legwork and find someone of position at Bank of America willing to talk to Citizens. Citizens calls them, confirms that the checks are good (three times they call -- just to be sure). The contact at Bank of America even offers to send a written letter stating that they are. And, guess what? Citizens STILL WON'T RELEASE ANY OF MY MONEY.
Meanwhile, I've incurred late fees, gotten marks on my credit for late payment, I've had to take off from work, my son's daycare provider is pretty angry as I now owe her 1 month's fees.... I am just beside myself that a bank whom I've been with for 10 years would treat me this way....
Anonymous in pa
NA, Pennsylvania
U.S.A.
1 Updates & Rebuttals
Goldie6384
Oneonta,New York,
U.S.A.
A little insight
#2UPDATE EX-employee responds
Sat, February 07, 2009
Please keep in mind I live in a different state and some terms and conditions could be a little different. I used to work for this company in NY. The process of the report you filled out takes 14 business days from start to finish; from the day the report is sent to the day the credit hits your account. Any fees accrued should have been entered in the report. I'm not sure of the regulations if the person that stole the card is caught, so I can not comment on that. The 10-day extended hold that was placed on your account sounds like it was a fraud hold. Your branch manager is correct that the company does this for protection, but she negated to tell you that it is for yours as well. The paying bank, in this case BOA, has a certain time frame to report back whether the funds of the checks are available. If BOA does not repsond within the alotted time frame then the checks get put on the extended hold. This is a process that protects your account from any fraudulent checks clearing, which in turn saves you from even more fees. As for the "little back room with the person that calls on the checks", I can not say whether or not the gentleman you spoke with believed this but I'm pretty sure this is done electronically not manually. Normally, when the contact is made with the paying bank and the funds are confirmed, the hold is lifted by the end of the day. Once again, I worked for this company in a different state so this could be a difference of policies.
