I have had an absolutely terrible experience with Citizens Bank.
First of all let me say I have an absolutely stellar credit rating.
I have not had one late charge in my life.
On April 30 I paid off for 5000 dollars toward my home equity line of credit at the Wolf Road
Colonie New York Branch.
I instructed the teller to apply $4965 toward interest and the remaining 35 dollars toward the monthly interest charge.
The teller applied the entire 5000 dollars toward the principal.
So a week later I get an email stating that I executed overdraft checking much to my amazement. Evidently since I only had 7 dollars in a little used checking account that 28 dollars went to overdraft due 100 percent to the teller's error in applying the payment.
On May 9, I went to the branch manager explaining that the teller had erroneously applied the payment and that this should be corrected. The branch manager agreed with me and told me he would talk to staff about properly applying payments.
So I thought the matter was settled.
I was wrong.
Three months later out of the blue(no email,no letter) I get a call from Citizens Bank collections that I am 56 days overdue and now owe 75 dollars.
Evidently somebody at Citizens Bank did not take my money out of overdraft and I accumulated interest and fees. I also got a letter from Citizens Bank collections saying I now owed 80 dollars.
After spending two hours at the bank and many phone calls later my account was straightened out.
However, when I called Citizens Bank collections for a letter stating the matter was cleared they REFUSED to give me one stating it wasn't their policy.
Well a few weeks later I noticed my credit rating had dropped 75 points which when i checked it out was attributed to a late payment.
I have referred my case to the Consumer Financial Protection Board.
I have received two calls from a Mandy out of their Providence Rhode Island location stating they are researching the matter.
All I want is latter stating that the bank made two major mistakes and I never actually had a case in collection.
I don't recommend Citizens Bank to anybody.
My experience has caused me much mental anguish. read more