• Report: #838348

Complaint Review: Citizens Bank

  • Submitted: Mon, February 13, 2012
  • Updated: Mon, February 13, 2012

  • Reported By: Steve — Mont Vernon New Hampshire U.S.A.
Citizens Bank
Internet United States of America

Citizens Bank Do not do business with Citizens Bank, Internet

*Author of original report: On the contrary, it is fair

*Author of original report: Response to ChexSystems

*Consumer Comment: I don't know what happened to you at Citizen's bank....

*Consumer Comment: ChexSystems

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After years of doing business with Citizens Bank, they decide to close my checking account, and will not honor any outstanding checks and are holding my money for 10 days.  Now my business can not pay vendors or its employees, and my vendors will get checks returned from us and assume it is because we are having money troubles. No warning, no nothing, just bam, your account is closed and we are holding YOUR money for 10 days.  We have never bounced a check, nor had any sort of problem with any bank, or credit agency. 

When I call them they just say that is another department and they have no control over the matter.  I asked for someone to call in the "department", and they say they can not give it to me. Thier letter, which is just signed "Citizens Bank", says they are doing this because of something on a "ChexSystems" report - which apparently is NOT a credit check, but what it exactly is, no one seems to know.

If you run a business, do not bank with Citizens!  No business can afford to have happen to me, happen to them.

It is bad enough that my tax dollars went to bail these guys out, now this is the thanks I get - I can not even write a check on the cash I have in the bank and they are holding all my cash for 10 days while my business can't function.  I suspect I will not get a bailout from anyone for the damage they have have inflicted.

BTW - I did go to (((competitor's name redacted))), and had no problem opening an account - even after I showed them everything from Citizens.  They said "they do not know what they are doing", and you will not have that problem here. 

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company, ..plus, if you post a competitors name more than likely they will show up on search engines as a Rip-off! - - your comments on this policy are welcome. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitors name

This report was posted on Ripoff Report on 02/13/2012 10:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Citizens-Bank/internet/Citizens-Bank-Do-not-do-business-with-Citizens-Bank-Internet-838348. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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2Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

On the contrary, it is fair

AUTHOR: Steve - (U.S.A.)

You said One thing that detracts from your report is this: "It is bad enough that my tax dollars went to bail these guys out, now this is the thanks I get - I can not even write a check on the cash I have in the bank..."

I would disagree. When the banks were in trouble, we gave them a loan. Now Citizens bank has MY money and will not give it back. So when they were in trouble, we help them out - how generous we are. Now that I have a problem - which they caused - they will not even talk to me about how to solve it. The fact the WE treat them one way, and they treat us like $&#% is just wrong, and people should know this before doing business with them.
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#2 Author of original report

Response to ChexSystems

AUTHOR: Steve - (U.S.A.)

There are no other signers on the account and there are no accounts that we owe money on. ChexSyetems is simply reporting wrong infoformation. When we tried to call them, they stated (through thier automatic system, you can not actually talk to a person) they will mail you a copy of your report, and you then can object to any negative info, and then they will investigate. In the mean time, Citizens has all our funds and are bouncing our checks.

I would think that ChexSystems has a responsibility to insure that the information is accurate. No one ever called us, or even bother to send a letter. No exactly responciable.

I do not care that Citizens does not want my Business, but I do care that they now have my money and will not give it back. If they want to close my account, then fine, give me the money in our account.
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#3 Consumer Comment

I don't know what happened to you at Citizen's bank....

AUTHOR: Ken - (USA)

but wish you luck with your new bank.

One thing that detracts from your report is this:
"It is bad enough that my tax dollars went to bail these guys out, now this is the thanks I get - I can not even write a check on the cash I have in the bank..."

That has NOTHING to do with your experience and the fact is, the banks have long ago paid back the money with interest.  Your comment does NOT apply. The bank owes YOU, personally, nothing for the bail out LOAN.
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#4 Consumer Comment

ChexSystems

AUTHOR: Robert - (U.S.A.)

Something on a "ChexSystems" report - which apparently is NOT a credit check, but what it exactly is, no one seems to know.
-
ChexSystem is not a Credit Report as you are used to, it really only reports negative information.  Such as if you have an unpaid Overdraft account at another bank.  Generally once you are in ChexSystems most major banks will NOT deal with you.    They are actually classified as a Credit Reporting Agency so they are subject to the same regulations as the "big 3" are.

The link below is one you can use to order your report.

https://www.consumerdebit.com/consumerinfo/us/es/chexsystems/report/index.htm

Banks do on occasion review your account to see if you are in ChexSystems.  If any of the account holders are that would give them reason to close it.  This is similar to a Credit Card company reviewing your credit report on a regular basis.  If in their review you no longer qualify for their card they will also just close out your account without notification.

If you are 100% truthful in your history with them it seems odd that you would be in this situation.  But if anyone who is a signer on this account is showing up on ChexSystems for a delinquent account they may have at another institution, that may explain why this happened. 

So it would be advisable to review your(and anyone who is a signer on the account) ChexSystem report.  Because while the bank you went to didn't decline you opening the account if you are in ChexSystem their "risk department" may review it and decide to close it anyways.   Unfortunately this may be at the same time you make a deposit that they will also decide to hold the funds.
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