I had two CitiBank accounts in 2011. With substantial amounts of money on deposit. When CitiBank imposed a $30 per month service fee I immediately moved to get all of the funds withdrawn and the account balances both to zero. I told the teller upon taking the last small amount of funds out to close both accounts. I thought I was done with CitiBank.
For the seven month period subsequent to making both account balances zero last year, I now discover that CitiBank has been transferring funds neither account has on deposit between the two. It has imposed monthly maintenance fees, interest charges and overdraft fees. CitiBank put its own funds into a zero balance checking account to force that account to carry a balance subject to monthly service fees. As if I had borrowed money by cash advances or otherwise.CitiBank now claims that I owe a substantial principal amount and must pay the present sum of the overdraft within 15 days or the bank will do what it can to ruin my credit rating and collect the money. What CitiBank did: create a debt in its favor out of two zero balance accounts where there was no intent to borrow on the part of the depositor.I have given CitiBank 15 days to straighted out the mess it made for its own benefit or all of the paperwork and the threats from CitiBank will go from my desk to banking regulators. I cannot be the only one in the whole world where CitiBank creates debt obligations in its own favor out of zero balances and then threatens the customer with a pay up or else demand.
Dont do business with CitiBank is the best advice I have.