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89 Reviews & Complaints

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Am I the Only One Able to Setup Such Insanity in My Life?
Posted by Hartford.ct.cpl on 01/05/2013
CONNECTICUT -- Opened 3 accounts. Real nice branch manager, he took the $.03 to open the 3 accounts and told me to setup online banking to fund the required minimum deposits.

That's where the fun begins- Citizens daily transaction limit, across all accounts, is only 2500$ for online banking.

So I call the 800-number, get a great CSR, and ask her if she can do my transfers... Nope. Ask her if she can close the accounts because they'll incur fees if there's no transfer initiated by Monday. Well, she could, except the $.03 has to come out of each account. So I tell her, 'hang on' and go to transfer the money out... Nope. Citizens minimum transaction amount is 10$.

I tell her I don't care about the $.03 (I'm laughing at this point, so is she) She just about busted a gut when I told her the $.03 came out of the branch manager's pocket.


I'll see you in the morning, Citizens. Closing accounts before we ever got started together. Thank goodness after seeing some of the awful press n' reviews. Its too bad, I really wanted a local bank, but I don't have many options. Guess I'll stick to USAA for now

     
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Posted by ok4now on 2013-01-05:
Try joining a credit union and avoid these headaches. Better rates, no fees and they are accountable to the customer not shareholders.
Posted by CUontheFlipSide on 2013-01-05:
I'm not sure I'd call them a local bank, they are in many states and are a subsidiary of the Royal Bank of Scotland.
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Invasion of privacy & Profiteering
Posted by Wrstarmer on 08/10/2012
MASSACHUSETTS -- Recently went to a teller at the bank and attempted to cash a check that was drawn on their bank ( my paycheck) I had my I. D in hand and was ready to provide. I was told that I had to be fingerprinted and pay $7.00. I was taken aback by this request and declined the transaction. Let me get this straight, The check was drawn on their bank, they are getting paid by the account holder to provide this service. I have to be fingerprinted as if I am being assumed as anything but legitimate? and pay $7 for it ?? My drivers license was not adequate ?
     
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Posted by trmn8r on 2012-08-10:
You can easily research the fingerprinting policy for non-account holders - it is common, and legal.

As for the fee, several banks do this today as well, and that may also be researched readily.
Posted by oldisgood on 2012-08-11:
in todays world this is completely normal.
Posted by bob932304 on 2012-08-11:
They are providing a service to you so they charge and with so many frauds going on with checks they are protecting themselves. Just use your own credit union or bank and this won't happen.
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Home Equity Balloons
Posted by Woontonfarm on 08/01/2012
FLINT, MICHIGAN -- Payments were always on time, the home equity note came due and the house value was below that of the mortgage amount. Citizens Bank decided to "fix the rate and term out the loan" raising the 3.25% rate to 8%. This increased my payments from $408/mo. to $1100/mo.

The amazing thing was my income was down about 70% (business closed down & I started a new job) and the bank "approved" my loan (terming the balloon note out). Citizens told me to apply for a "modification" but the bank who approved my loan restructure, denied my modification! Mr. King at Citizens told me if I wasn't happy with his decision I could take my business elsewhere, knowing fully you can't refinance a home equity underwater.....the note is past due now and they take money out of my accounts to pay late fees and bring the account current, been a nightmare for me.....
     
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Posted by bob932304 on 2012-08-01:
This is probably all laid out in the mortgage contract which is probably more pages than a book. I hope you can work it out. Bankers strike again.
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Processing Transactions on a Closed Account
Posted by Puterdame on 07/31/2012
HALIFAX, MASSACHUSETTS -- I opened 2 checking accounts and an IRA with Citizens Bank in Halifax, MA. Over the past few years, the mistakes had gotten to the point where I had to check my personal account as well as my business account to find the errors made, call the bank and have them corrected. Long story short, I ended up closing my accounts, and going with another bank.

I received a call a few days ago from Citizen's Bank regarding some charges that were processed (against my CLOSED account) and was told I would have to visit the local branch, which I did today. I explained the situation to the robot behind the counter, who simply kept repeating, "when you have a pre authorized debit set up, we honor it." Apparently, the changes to my new bank information from PayPal did not 'go thru' and they went to Citizen's for payment.

I had a credit submitted for a returned product on the same day I closed my checking account, so, without telling me, Citizens re-opened my account and started processing transactions against my overdraft protection. When I explained that I had closed the account, I got the same answer repeatedly about the "pre-authorized" debits. As I explained to the teller, I wouldn't "authorize" a transaction on a CLOSED account because that would be FRAUD.

I have to contact the "manager" tomorrow to see what he says, but this has been an exercise in frustration, to say the least. To have a bank re-open a closed account, instead of sending notification to the companies looking for payment that the account was CLOSED, is ludicrous, and almost seems illegal. If anyone can advise just WHO oversees banks, and their operations, I would be very appreciative to know that information.

In the meantime, STAY AS FAR AWAY FROM CITIZENS BANK AS YOU CAN. Go with a local Credit Union, or anywhere else!!!!

     
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Posted by trmn8r on 2012-07-31:
I believe what you describe is standard practice in banking. I had a credit automatically open a closed account, and subsequently earned a monthly maintenance fee, etc.

I contacted the bank and had it corrected. A few months later the same thing happened.

I believe you will find out this isn't improper, though I admit it seems like an odd practice. There must be a rationale for it.
Posted by CrazyRedHead on 2012-08-01:
I went through the same thing with SunTrust a long time ago. It took them 10 years from when I closed the account to tell me about it.
Posted by leet60 on 2012-08-01:
As trmn8r said it is a common banking practice. Additionally it generates fees for the bank against your account. Part of the issue is the person who is paid the debit is using outdated information (if you updated them with the new account) so they also hold some culpability in this matter.
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Unconscionable Thieves - Do not Bank with them.
Posted by Narflyrem on 07/13/2012
CONNECTICUT -- I have had a checking account with Citizens bank for about 16 years but as of lately have used it only for limited use because the closest branch is too far. When I originally opened it I lived in another state and the branch was five minutes from home. I have my SS Disability checks deposited into the account which I then use to pay my health insurance premiums and other bills. I receive SS disability because I have stage 4 breast cancer.

On July 13 I find a letter in my mail box dated July 9 from Citizens bank telling me that all accounts associated with my name would be closed effective immediately and that any balances in the account would be sent back to me after August 20. I had called their 800 number on July 9 to check my balance and was told that I had an available balance in excess of 1200. I then wrote a check on the account and deposited into another account that I have with another bank. When I received the letter on the 13, I called the bank and was told that yes the account was- depending on who I talked to- under review, closed, being closed etc and that they had reversed the check that I had written even though there was sufficient money to cover it (and charged me a fee).

I am then told that if I go to the bank branch to get my money I am not guaranteed that they will give it to me and I will have to wait until August 20 to get it out. I explain that I am very sick and need my money and that since they have already decided that the account is closed and are not honoring any checks they need to give me back my money. I then spend forever on the phone and finally get someone who gives me a code to give to the teller (it is already after banking hours) that they can look up to see that I need my money for medical reasons and to let me have my money.

I then call Social Security to ask them to change my direct deposit and they tell me that I am too late for this month and that the present months payment has already been sent to the bank (but is not yet showing as part of the balance) so the SS telephone agent and I call Citizens bank and are told that the auto deposit of the SS disability check will not be rejected (in which case SS could have reissued a check), but will instead reopen my account with Citizens and that there is no guarantee that Citizens will allow me to withdraw my money.

I explained that I depend on my SS disability for many things mainly my health insurance payment since I have end stage breast cancer and cannot lose my insurance. No go. Apparently Citizens must freeze my account while they take forever to close it while denying me access to my money. Even money that was not in the account when they closed it. How can this be legal. I am so sickened beyond belief.
     
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Posted by madconsumer on 2012-07-13:
what was the reason they closed your account?
Posted by trmn8r on 2012-07-13:
What you describe about an auto deposit "reopening" a closed account is standard procedure. I have experienced it myself at another bank.

Also, not being able to cancel direct deposits without several days notice. These things are inconvenient, but part of the banking system.

The thing that isn't explained is why they closed the account, but you apparently aren't challenging or complaining about that. I think you need to wait for your money unless you are able to get the process expedited by continuing to pressure them.

It isn't clear why you refer to the bank as "thieves".
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Bad Bank
Posted by Rickysingh on 05/08/2012
Hey every one please do not open an account in Citizens Bank they're so rip offs please
     
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They billed me for .07 cents!
Posted by Jesselev on 04/23/2012
PROVIDENCE, RHODE ISLAND -- I had made a payment of $8000 towards my Citizens Bank credit card. Shortly after that payment I mailed what I thought would be my last payment - $265.00 using First Class USPS mail. The $265 payment was $1.43 more than the balance I owed on my statement. My payment was mailed in plenty of time before the due date!

I waited two weeks then checked online and noticed the bank still hadn't processed my payment. So I called and was told they hadn't received my check! The representative I spoke with blamed the post office then advised me to wait another week. I did. In fact more than a week went by then I finally noticed my payment had been processed! Two weeks later I received a statement in the mail from Citizens Bank regarding my credit card account. The statement said the account had been closed. It listed the previous balance($263.57), the payment I had made ($265.00), no interest fee, but an unexplained fee of $1.50. Since I had paid $265.00 on the previous payment and the balance at that time was $263.57 the difference was 07 cents owed after the unexplained $1.50 fee! The statement also stated "If we do not receive your minimum payment by the date listed above, you may have to pay a late fee of up to $39.00 and your APRs may be increased up to the Penalty APR of 29.99%."

I mailed a check to them the next day using Return Receipt this time to have proof of mailing! If Citizens Bank takes another three weeks to process and post 7 cents to my account I will contact the proper authorities to file a complaint! I've grown tired of Citizens Bank fees, their ways of delaying payments and them diming me to death!
     
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Posted by Alain on 2012-04-25:
If you need to file a complaint, you might find this web site helpful: http://www.federalreserveconsumerhelp.gov/about/consumer-complaint.cfm
Posted by Starlord on 2012-04-25:
The power company once billed us for one cent. On the sheet letting us know they said if it was not paid immediately, it would be turned over to a collection agency.

Posted by tnchuck100 on 2012-04-25:
Starlord, I can see a collection agency chomping at the bit for a crack at your account. LOL!
Posted by Anonymous on 2012-04-25:
When I worked collections, I called someone who owed something like 3 cents (don't remember the exact amount). I thought it was ridiculous so I waived all late fees and wiped the account clean.
Posted by Starlord on 2012-04-25:
One time, when I was collecting taxes, I had a mobile home that the tax bill was just over a dollar. The owner was a lady in her eighties, so I put the amount in an envelope and turned it in. A week later, there was an envelope on my hook when I got to work. She had repaid me for the tax payment. I did this because the County Assessor had just forgiven a 16 million dollar tax bill on helcopters that I really wanted to bring in for the county, but I was supposed to seize this old lady's trailer home for just over a dollar? Tain't funny, McGee!
Posted by NOTGUILTYURHONR on 2012-11-27:
$16 MILLION forgiven?sounds like corrupt county assessor was paid well to "forgive"an amount like that.there should be an investigation there
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They Have a Lien on My Car I Paid Off Two Years Ago and Want Me to Pay for Their Error
Posted by Jdkdkids on 03/22/2012
NEW JERSEY -- About 2 years ago I paid off my 2003 Chevy Venture (early) After paying it off my wife called and said we never got the title in the mail they informed us that it takes some time and I was not concerned as it was paid off and I was planning on keeping it for some time. Last week I go to trade it in my car and told that I need the title. Instead of waiting for the bank I go to NJ MVC to get a duplicate one at a cost of sixty dollars to speed up the process. MVC tells me that Citizen bank still holds a lien against me from two years ago. I find this very disturbing and go to the local branch in Haddon Hts NJ and they tell me it's paid off; but that they have had similar complaints from customers in the past. They put me on the phone with a subcontractor who handles the auto finance who says yes your car is paid off but you need to pay MVC/dmv their fee but only after you provide us with a credit card so we can charge you another fee for giving you a letter saying you paid off your loan -------WTF. I say no way. Eventually customer service at the local bank helps and says I will have a faxed letter showing the lien is paid off with in two day. Two days goes by and they tell me it was entered wrong and give them a few more days a few more days go by and they tell me they can't help and I have to call this third party company they use and speak with Rita [snip], who then tells me it's my fault they never dropped the lien because I never answered a questionnaire they say they sent out two years ago and she will need a credit card to bill me for her services before she can help me- and then tells me she'll call me later-----help someone ---they mess up and want to charge me--- and I would actually pay the fee at this point but they tell me after I pay this fee to get a copy of a letter- that they will mail it out in 7-10 days------what awful service -

     
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Posted by CowboyFan on 2012-03-22:
Go to an attorney,have him contact citizen bank.
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ATM fees and savings interest
Posted by Kaumapathy on 02/10/2012
MASSACHUSETTS -- Big banks are notorious for charging hapless customers with their fees and charges. The second biggest bank in Massachusetts should be number one in this regard.

The typical savings account with this bank with a deposit of $1000 takes more than 10 years to accrue 10 dollars in interest.

A typical ATM transaction in a non-Citizens Bank ATM for $100 has $4 foreign transaction fee + $3 balance enquiry fees + $3 withdrawal fees. So, customers get less than 0.5% in savings returns over 10 years and the bank gets 10% out of one single transaction.

What kind of services these banks provide?
     
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Posted by Inat on 2012-02-10:
savings accounts do offer high interest yields b/c the money is readily availabel for withdrawal. if you're looking for an account with a better yield, look at CDs but be prepared to not have access rto your money for at least 90 days.

As for ATM fees - yes, those are high fees. But so is maintenance of networks, subscriptions, electricity, maintenance, etc.

You don't have to pay ATM fees - you can write checks, get cash from the teller, etc. You're paying for the convenience
Posted by Slimjim on 2012-02-10:
Nobody's savings accounts are paying any real interest right now. The feds have the prime rate at an all time low. Good for those seeking to buy or with existing adjustable mortgages, but bad for savings accounts and CDs. I'm getting .2% right now in my savings account. Also, foreign ATM transaction fees are imposed by that specific ATM owner, not your bank. Citizens really has no control over the transaction fees of another bank or entity's ATM, nor the going rates. You'll find this with any bank.
Posted by Anonymous on 2012-02-10:
Well Greek 1 year bonds are paying 509% IMF, ECB, EU are willing to backstop them for a bit.... QE3 is coming to the US probably in Q3 '12 so pick your poison.
Posted by Churro on 2012-02-10:
Yeah but still there are better choices to handle your banking needs. One of my checking accounts pays 1.5% (started out at 5% a few years ago) on the first $25,000 and refunds all ATM fees up to $25 a month. I have another checking account that pays 3% on the first $30,0000 but without the ATM fee refunds. Both accounts are bonus checking accounts where every month you need to have at least one direct deposit, make a dozen pin-less debit card transactions and opt for the e-statement in order to get the perks.

Shop around I'm sure you can find a much sweeter deal than Citizens Bank. Good luck!

Posted by CowboyFan on 2012-02-10:
One pays for the cost of convenience, because cheaper alternatives are available. I like the Greek bond concept, because one can brag about what great interest one is earning, at least until that bond market collapses.
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Unmentioned fees
Posted by Jpfeiffercello on 01/17/2012
BOSTON, MASSACHUSETTS -- I am a completely naive investor. I had many IRA CDs at Citizens. The investment officers called me up to talk about consolidating them. I thought this was a good idea, since it is hard to keep track of so many. I went in and they sat down with me and recommended an investment product of the bank's which sounded good to me. I had had a previous dealing with one of the men, so I trusted him. He had me sign several sheets, which I did without reading them. STUPID OF ME!!! But he knew I knew very little about investment matters. Then he slipped in a few more sheets into the stack and we were done. A week later, when I got my first statement for that account, I found I had been charged over $2700 in fees! He never mentioned fees to me. Being a novice, I did not know to ask. I went right to the bundle of papers he sent me home with, and indeed on one of the sheets I did not have to sign, the fees were detailed. But since I trusted him, I was now out of $2700+. Of course I should have read everything before signing, but if you trust someone, you don't expect to be duped like that.
     
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Posted by tnchuck100 on 2012-01-17:
Just to keep things in perspective was this $2,700 fee for handling $10,000 or $270,000+ in investments?
Posted by trmn8r on 2012-01-17:
Did you agree to change to an actively managed fund, which has a yearly fee? These can range from 1-2%. Let's say that you put a $200,000 portfolio under management - that would be $2000-4000 a year.

I always ask a ton of questions, and read or browse most everything. It is odd that whatever feature that costs so much in fees did not come up or wasn't mentioned as having a fee as you discussed options with the CSR.
Posted by Fufu487 on 2012-01-17:
It really depends on how much you invested as to whether this fee is considered high or not. Investments almost always have fees involved.
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