We had 5 LAP Accounts with Citibank NA. Account numbers 915148, 49, 50, 51 & 52. In the last week of Dec 2016 we closed the same. We asked for fore-closure letter that the bank gave albeit with wrong foreclosure charges. Before we got the modified version, we requested Citibank executive, on mail, to provide us the part payment amount that can be paid, prior to closing the account which will not be attracting pre-closure charges. The said amount could be deposited from our saving accounts to save the pre-closure charges of 1%.
The executive gave the amount and after the confirmation we deposited the amount. Once the amount was deposited we asked for fresh foreclosure letter. The bank levied 1% foreclosure on the entire outstanding amount including the pre-paid amount of Effectively, they charged extra INR 57250.00 + taxes.
We sought clarification on the same and they mentioned some clause that is written somewhere in the application form that I am still unaware of. Such a clause was never mentioned in sanction letter and/or any of the email/telephonic/messages conversation. The bank and its executives were very well aware of our intention of closing the account still they chose, not to inform us. They had even issued a foreclosure letter in early Dec with wrong pre-closure charges. The bank has clearly ignored all communications done by its employees, including Pune branch head, and levied the charges. They simply ignored and never informed us of the charges prior to closing the account.
Do stay away from Citibank or keep more than just a close check. They seem to be more interested in cheating it's customers by NOT providing correct information.
Could someone guide me with their head quarter email ID so that I can raise my concern there?