Citibank wrote off the funds in my account when I closed it!

Philip624

I recently closed my Citibank Current Account online and received a letter from them confirming closure had taken place. Two weeks later as I had not received a cheque for the remaining balance in the account (£1) I rang them up only to be told as it was such a small amount they wrote it off!

I think this is disgraceful especially as when I closed the account using their online service there was no suggestion that they would write off the balance and at no stage had I agreed for them to do so. I have written them a letter asking for my money back, it may only be a small amount but its the principle, I am not in the business of giving charity to large profit making banks.

Just thought I would highlight this shocking practice to other MSE'rs.

KathrynPenguin

I think just writing it off was a bit much. A little while ago I closed a credit card account that was in credit by about 69p (how on earth did I manage to overpay them??). They asked if I would like a cheque for that amount or for it to be donated to charity.

You would have thought Citibank could have done the same.

innovate

You should charge them £30 or thereabouts for your admin costs to retrieve what's rightfully yours - what's good enough for the banks should be good enough for their customers!

gothicf0rm

firstly as the previous poster points out you could charge them.
citigroup don't have a lending facility arranged with you so they are over the zero limit. you could charge them for that straight off. take a look at how much they charge unathourised overdrafts to get an idea of how much to charge and if youre really lucky theyll charge by the day. i see their unauthorised overdraft rate is a whopping 26.9% gross p/a by the way. just send them one letter a month and wait a few, theyll just hope you FRO, you should end up with 100 quid profit easily.
alternatively you can complain from the word go, fight for your money and youll get your quid back and have spent loads of time to get not very much money.