Get Citibank to listen: Submitting a legal claim can bring them to the table to settle your dispute.
Fraud happens in many ways. One of the more common ways is for fraudulent Citibank accounts to be opened in your name after your banking information has been stolen. So what can you do if you see unauthorized transactions or an unauthorized account associated with your identity? The first step is to inform Citibank.
But what if they won’t act? We explain what to do next.
Yes, all checking accounts have fraud protection as part of Federal Reserve Regulation E. This regulation says that your bank can’t hold you responsible if fraud happens on your checking account, assuming you report it immediately.
According to their customer liability policy for unauthorized card transactions, if you report it immediately so that the card is blocked and no additional fraud can take place, Citibank offers zero liability for you as the customer. Any losses incurred will be refunded.
Not only do you have to contact the bank but you should also report any fraud to the Federal Trade Commission. This process makes it very easy to describe what happened and to help you financially recover from it.
Yes, they really do. Once you notify the institution of fraud, they have 10 business days to investigate your claim and come to a decision. If they conclude that fraud really happened, they have to issue a refund to you as the cardholder. But sometimes they might temporarily return the money as part of that 10-day window and take up to 45 days to complete their investigation especially if they are trying to track down the person responsible.
Unfortunately, there are many complaints against Citibank for not dealing with issues of fraud legitimately. One customer noted, “After speaking with a woman from the Better Business Bureau, I was advised to file a complaint online. I opened up a Citi Priority Savings account online (statement attached) the end of February. When I went to check my account, I was told it was “locked” but no-one could tell me why…..not “new accounts” nor “fraud” department. I was told it was a “security” issue. On March 18th, $5000.02 was debited from my account, so I assumed a check was coming to me……..nothing ever arrived! I have called numerous times, but unable to get any information from anyone. At first I was told I had to wait 30 days, then 60 days……but still no check or concrete answers. There are no physical offices in MA or RI. Do you have any contact with Citi? How can I get my money?”
The same customer registered an additional thirty calls to the fraud departments only to be left with no resolution.
Another expressed their frustration with Citibank thusly, “On 2/12/2021, 4 fraudulent charges were made on our checking account from four different states via my debit card: ***** ********* (200.95) ***** ****** (100.00) ****** ** ********** (100.00) *********** (100.00) We reported this to Citi, where a representative has since confirmed that the initial rep who took the report made an error in not canceling the card immediately (as is standard banking practice). We faxed over the requested information 2/12/2021. I subsequently emailed a reply to ******************** as requested 3/3/2021. My husband then contacted Citi via phone and spoke to a supervisor 3/15/2021. Interspersed were multiple online chats with various representatives. It is now April 13, 2021, and Citibank has subsequently REVERSED the charges that they initially credited without explanation. We have provided all supporting documents. We explained (and they can view) that our account is used for online banking; and we do not use our associated debit cards, in addition to pointing out that it would be physically impossible to use the same debit card at four different locations at the same time. We get no response from email, from online chat, or from calling. I am unclear why Citi is choosing to be complicit in fraud.”
If a scammer gets a hold of your bank account number, they can steal all your money through a multitude of ways like cashing checks that they ordered from your bank, sending money through a bank transfer to themselves and more. They can open new accounts in your name and use them for fraud, like signing up for services or taking out loans. That is why it is important that you check on your account regularly and report anything that doesn’t look right.
Still not getting a response? Or maybe the response you got wasn’t satisfactory. In either case, there are still options. If they won’t help, we will. Contact FairShake to get started.
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