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