We're processing your application
Oct 12, 2020 | 2:40 pm
#1
Original Poster
Join Date: Nov 2011
Location: Iowa
Posts: 778
We're processing your application
I can understand that when applying for a credit card that Citibank would want to review the application but I've applied to open a checking account with Citibank and I've been waiting 2 weeks for a reply....to open a checking account. I had no idea that it was such a decision as to whether they would accept money FROM me.
Oct 12, 2020 | 4:06 pm
#2
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,889
Oct 15, 2020 | 7:23 am
#3
Join Date: Nov 2014
Location: LGB
Posts: 1,224
I can understand that when applying for a credit card that Citibank would want to review the application but I've applied to open a checking account with Citibank and I've been waiting 2 weeks for a reply....to open a checking account. I had no idea that it was such a decision as to whether they would accept money FROM me.
Oct 15, 2020 | 9:50 am
#5
Join Date: Mar 2017
Programs: HHonors, TrueBlue, Delta SkyMiles, Hyatt Discoverist, Starwood Preferred Guest, American Airlines.
Posts: 2,035
The only downside is the account doesn't come with checks or premium features.
Oct 15, 2020 | 12:21 pm
#6
Join Date: Nov 2014
Location: LGB
Posts: 1,224
Even in that case, a new customer still represents a risk to them. Handling bounced checks isn't free. Neither is fraud. (Not that OP would bounce a check or commit fraud, but the bank doesn't know him from Adam.)
This risk is the reason why companies like Chex exist - https://en.wikipedia.org/wiki/ChexSystems
It's also the reason why prepaid debit cards like (like all of the 'bird products) exist - a sizeable chunk of the U.S. is unbanked because Chex has a negative opinion of them.
This risk is the reason why companies like Chex exist - https://en.wikipedia.org/wiki/ChexSystems
It's also the reason why prepaid debit cards like (like all of the 'bird products) exist - a sizeable chunk of the U.S. is unbanked because Chex has a negative opinion of them.