How It All Began

In 2019, I established a new LLC in the USA for an online venture. As a European, I completed all necessary formation documents through a registered agent. This was my second business in the U.S., so the initial steps went seamlessly.

However, I needed to be physically present to open a bank account, so I took a trip to New York. I walked into a Citibank branch in lower Manhattan with all my documents and opened both a business and a personal account. The process was straightforward, requiring an initial deposit of $200 for each account. Unfortunately, they informed me that my debit card and online banking access would be mailed to me later.

While it’s normal to wait for a debit card, I was baffled by the delay in online banking access after account approval. Regardless, I returned home, optimistic and ready to work on my business as I awaited the arrival of my Citibank materials.

Waiting for Correspondence

A month passed before I received the online banking access details for my business account, but still no debit card. For my personal account, I received the debit card, but the PIN and online banking details were missing.

I attempted to reach out to customer service, but only received an automated acknowledgment of my query. A few days later, I contacted the banker who had opened my account. She assured me that everything would arrive soon and advised patience.

I waited yet another month, but nothing arrived. By this time, COVID-19 had emerged, making it impossible for me to travel back to the U.S. to resolve the issues in person.

Customer Service Experience

Eventually, I decided to call customer service. There was no free option for international calls, so my phone bill quickly mounted as I was put on hold listening to an outdated ringtone for about 25 minutes. When I finally reached a representative, I explained my dilemma, only to be placed on hold yet again.

When he returned, he delivered shocking news: "Your account is under internal investigation. I cannot discuss the details. I'm hanging up now." And just like that, he disconnected the call without allowing me to respond.

This experience was infuriating, highlighting a troubling aspect of their customer service policies. I was left frustrated and confused, unable to comprehend how a bank could treat its customers in such a dismissive manner.

My Funds in Limbo

After that incident, I decided to take a break and went for a run, effectively cutting my ties with Citibank. What could I do? Who would want to continue working with a company that treats customers this way?

I attempted to log into my business account but found I could not transfer funds out; the only available option was to pay U.S. utilities. Months later, I received a letter indicating that my account would be closed due to inactivity. At this point, I was indifferent, as the initial $200 was nearly gone due to their monthly maintenance fees. I had also resigned myself to the loss of access to my personal account.

Finding a Solution

Recognizing the absurdity of my situation, I began searching for alternatives and discovered Wise. The contrast between Citibank and Wise was striking. Where Citibank was cumbersome and unhelpful, Wise was efficient and friendly. They opened both my personal and business accounts under a single login, allowing for seamless transitions between the two. Fund transfers were free, and I could open accounts in multiple currencies for a nominal fee.

While Citibank charged $15 monthly, Wise had no fees. Their customer service was the complete opposite of what I experienced at Citibank; they were polite, patient, and genuinely helpful. Wise’s online banking platform was modern and user-friendly, unlike the outdated Citibank interface.

Since switching in early 2020, I have been a satisfied Wise customer, still puzzled by what Citibank was "investigating" in relation to my account.

The Final Blow

When I opened my Citibank account, I provided my account number to my accountant for my U.S. tax return, expecting a refund of approximately $500 that year. However, I neglected to update my refund information with my accountant after switching to Wise, and as a result, my refund never arrived.

The IRS likely attempted to send the refund to my Citibank account, which had already been deactivated. They, too, advised me to be patient, stating that the transfer would bounce back and be handled through proper channels. To maintain my sanity, I ultimately gave up on pursuing that refund, and no one has contacted me about it since.