DELAWARE -- From the moment I opened a Citizens Bank account, they started nickel and diming me with fees. I applied for a home equity. I had to open a checking and a savings account I didn't want to avoid fees. And then all 3 of these accounts had service fees that had nothing to do with the fact that I was a high-quality loan customer. Minimum balance fees, annual fees, inactivity fees.
As soon as I could close the loan without an 'early payment' fee(!), I did. Closed all of the accounts. 1 year later, I just got a letter saying I owe $10 for a 'dormant account' fee. Ridiculous! But every time, it was not worth the effort of fighting. I'll just go and pay like I did all of the others - even the ones that were their fault. I just want out!!!
PITTSBURGH, PENNSYLVANIA -- I had three pending transactions with Citizens Bank which I notice on June 11, 2014 put my account in the negative. These transactions were still pending and the funds didn't actually leave my account yet. On June 12, 2014 my payroll check was directly deposited in my account. When I checked my account everything was fine. On June 13, 2014 I was charged $105.00 in fees.
I contacted customer service regarding this matter and the girl told me she was not able to refund any of the fees because I was not eligible for any refunds. So I asked to speak with her supervisor. When ** got on the phone he was extremely rude and showed utter contempt for having to speak with me on this matter.
I explained the situation and he continually told me I was ineligible to receive any refunds on any fees and that I caused Citizens Bank to lose money so I deserved to be charged these fees. I have never been treated like such a piece of garbage in my life. This bank needs to be stopped. They are completely unethical. They do not care about customer satisfaction and they apparently believe that they are better than you.
CONNECTICUT -- Opened 3 accounts. Real nice branch manager, he took the $.03 to open the 3 accounts and told me to set up online banking to fund the required minimum deposits. That's where the fun begins- Citizens daily transaction limit, across all accounts, is only 2500$ 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. It's too bad. I really wanted a local bank, but I don't have many options. Guess I'll stick to USAA for now.
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 driver's license was not adequate?
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!
** 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.
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 inquiry 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?
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.
NEWTON, MASSACHUSETTS -- Citizens Bank is without a doubt the worst bank I have ever worked with. They have been charging me $7.95/month to allow my Intuit Quicken software to synchronize with it. I've never heard of that and neither have any of my friends. Further, they never warned me that there would be such a fee. And to top it off, it doesn't even work – Quicken always gets an error when it tries to synchronize so I actually disabled it.
After paying the false fee for ~5 months, I finally gave them a call. The person on the phone said they would escalate it to a manager to see if they could give a rebate. I didn't hear back from them for 2 weeks so I called back. This time, the person on the phone said the account doesn't show a records of the previous conversation so he put in a formal note into the system and again said they would escalate it. Still no word for 2 weeks so I called them a final time. This time the person said he sees a record of the previous record but the issue is still open... he promised either he or the manager would call me within 1 week. It's been 2 weeks and I never heard back from them.
Between the charging fees like thieves and handling customer complaints so poorly, I'll obviously cancel the account. But if you are reading this, I highly recommend that you don't bank with Citizens. I'm telling my friends the same. It's no wonder that these big banks are in such trouble and need us to bail them out (through the government and the fees!)... really amazing.
CRANSTON, RHODE ISLAND -- Citizens bank convinced me to use their Platinum credit card. My complaint requires some basic understanding of how credit reporting and credit worthiness works. I had the card along with others for almost 3 years and used it often with a $30,000 credit limit. I never missed a payment and had nearly an 800 credit score.
My issue started when I had charged $16,000. I paid off $12,000 in 6 months, leaving a balance of just under $4,000. One payment was paid late due to an admitted error with Citizens Bank Checking. An admitted error! After paying off $12,000 of $16,000 in 6 months, the late payment which was 1 day late caused Citizens Bank to "re-evaluate" my credit worthiness.
Why was it one day late you may ask? I pay everything two months in advance to avoid missing anything. After years of this policy, I had this one slip through though - it was an admitted mistake by the bank. The Citizens Credit Department took my available credit and adjusted it from 30,000 to less than the balanced owed. This effectively did three things...lowered my available credit, increased my debt to credit ratio and reported a major account as being overdrafted. This in effect triggered a cascade effect with all other creditors who effectively did the same.
Over the course of 10 days my score went from near perfect to really bad. To be fair to this forum and process, I had made a purchase of a home two years prior but my credit score had rebounded by the time this incident took place. Citizens Bank response when I informed them that it was illegal to lower a credit limit to below an amount owed was to keep charging me late and overdraft fees until the balance was lower.
The kicker is if you close the account...your score drops even more. The really funny part is when you call the bank, they completely remove themselves from any affiliation with the Credit Card division and forgo any responsibility whatsoever. I took my money out and put it in a local credit union. Not only did they give me a better rate on a car, they are just so pleasant to deal with. Final thought...that commercial where they open a door for a customer early...it is B.S.! It has happened several times where I show up 5 minutes early and the guy states "I cannot open, it's a security issue!" Go figure.
I am in the process of leaving Citizens Bank. I was a customer at a local bank 20 or so years ago. It was acquired by another bank, which was in turn acquired by Citizens Bank. So I don't know exactly how long I've been a Citizen's Bank customer, but it's been years. When I opened my account, I arranged for an overdraft line of credit. When you go below 0, it automatically credits you the money, and you pay it back, just like a credit card. I only use it at Christmas time and vacation time and it's always paid back in a month or two. Yes, I could use a credit card instead but to me this is easier.
Citizens Bank is now charging $10 each day that there's a transaction to use the line of credit. This service used to cost nothing. It costs the bank absolutely nothing to provide – it's an automated transaction. In fact, they get to charge a high interest rate to people using it.
When I went in to talk to a Citizens Bank employee about this, she had a condescending attitude, which is pretty much the attitude I've received any time I've had a problem with them. She acted like the bank did me a huge favor to loan me the money. WRONG. It's no different than a credit card, and I have excellent credit, with credit offers in the mail every day. I'm paying them quite the interest rate as I borrow the money.
Right after my experience at Citizens Bank, I headed to my local credit union and opened a checking account with overdraft line of credit. I asked them about their service fee for using the overdraft line of credit – and of course, it's ZERO -- all you pay is the interest. By the end of the month, once checks have cleared and automatic payments have been redirected, I'll be out of Citizens Bank completely. Good riddance.