Citibank Maxigain Savings Account

leemeng

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Negative
Common sense what for keeping a 0 amt -.-
You will accumulate negative value of monthly fees
Just close it duh

Guys if you want to keep your funds with citibank just leave it till you find a better promo

Else
Clear your amount and close account to a new beneficial account (just do your sums if you place all your amount there)
It might have a better interest value

Rather risking or be an example and try out till end of dec 2019

MaxiGain can leave it zero and let it auto close? Thanks in advance
 
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luvpraline

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i really mean $15 .. just to cover the fall below fee ... to avoid account going into negative/overdraft if fee is applied

hi, what's the implication if it goes into overdraft? thought will be -$15 so you might still pay $15 when u need to close the account... why pay early?

btw i've asked another bank before about such cases. was told that there are customers who zero out their accounts n keep accumulating the fall below fee but don't close the ac as they would need to pay the negative balance. but the bank cannot recover it from their other accounts or cc with the bank
 

Trazora

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Negative
Common sense what for keeping a 0 amt -.-
You will accumulate negative value of monthly fees
Just close it duh

Guys if you want to keep your funds with citibank just leave it till you find a better promo

Else
Clear your amount and close account to a new beneficial account (just do your sums if you place all your amount there)
It might have a better interest value

Rather risking or be an example and try out till end of dec 2019

Will accumulate negative value? Any basis? My mum have $0 on another citibank account and no fees
 

DenOOO

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Negative
Common sense what for keeping a 0 amt -.-
You will accumulate negative value of monthly fees
Just close it duh

Guys if you want to keep your funds with citibank just leave it till you find a better promo

Else
Clear your amount and close account to a new beneficial account (just do your sums if you place all your amount there)
It might have a better interest value

Rather risking or be an example and try out till end of dec 2019

Not really, recently asked OCBC regarding the closure of account and they mentioned can just leave $0 (no fees will be charged) and the account will be closed automatically after 6 months.
 

Squaredot

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Not really, recently asked OCBC regarding the closure of account and they mentioned can just leave $0 (no fees will be charged) and the account will be closed automatically after 6 months.

that would save us a trip to the bank to close the account :D
 

stamploversg

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As we approach Dec, really must say respect this Maxigain account - we discussed for a month already still don't know the best way to escape from it.

Personally never see another bank saving account so complex...:)
 

oceanicmanta

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Maxigain can be overdrafted?

that's according to the Live Chat agent ... it's a current account and account can go negative and over-drafted

hi, what's the implication if it goes into overdraft? thought will be -$15 so you might still pay $15 when u need to close the account... why pay early?

btw i've asked another bank before about such cases. was told that there are customers who zero out their accounts n keep accumulating the fall below fee but don't close the ac as they would need to pay the negative balance. but the bank cannot recover it from their other accounts or cc with the bank

I presume overdraft will attract interest ... did not ask.

again, dont know how true ... but I will just leave $15.00 on 31 Dec :(

hope those meeting RMs next week can update ... TIA
 

vsvs24

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As we approach Dec, really must say respect this Maxigain account - we discussed for a month already still don't know the best way to escape from it.

Personally never see another bank saving account so complex...:)

😁😄😀

.......
 

leemeng

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Plz this is referring to maxigain thread not ocbc
Different bank may have their own tnc

Not really, recently asked OCBC regarding the closure of account and they mentioned can just leave $0 (no fees will be charged) and the account will be closed automatically after 6 months.

Plz google search
2019 CTP Welcome Programme Terms and Conditions - Citibank Singapore
Last page


Will accumulate negative value? Any basis? My mum have $0 on another citibank account and no fees

Note: For an overdraft accounts you might be blacklisted of the bank
Might not be able to sign up future services of the bank
 
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tmkedmw

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As we approach Dec, really must say respect this Maxigain account - we discussed for a month already still don't know the best way to escape from it.

Personally never see another bank saving account so complex...:)

I bet that all the customer touchpoints for maxigain are not singing the same tune as we try to craft a Houdini escape.

Personally I don't care too much about the optimal exit strategy as I had benefited from maxigain over the past 2+ years.
 

DenOOO

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Plz this is referring to maxigain thread not ocbc
Different bank may have their own tnc



Plz google search
2019 CTP Welcome Programme Terms and Conditions - Citibank Singapore
Last page




Note: For an overdraft accounts you might be blacklisted of the bank
Might not be able to sign up future services of the bank

I was quoting your common sense in saying $0 sure go negative :s13:

Oh, btw, last page says nothing about $0 go negative lei, why you cheat my feelings.

Negative
Common sense what for keeping a 0 amt -.-
You will accumulate negative value of monthly fees

Common sense doesn't need to be just Citibank right ? :s12:
 
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merlot6230

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As we approach Dec, really must say respect this Maxigain account - we discussed for a month already still don't know the best way to escape from it.

Personally never see another bank saving account so complex...:)

Same too until I no choice to hold on to it.

Citibank really have a messy term n condition, even the hotline and manager unable to synchronise about it. Some say any deductions will impact the counter while can withdraw but not other sum, the interest only.

Now the closing the account already so confusing even paste term n condition also not much help.

Dun take it the wrong way that I insult the forumer , I just feel the Citibank very misleading in their operations.
 

Guojing88

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So now the optimal strategy becomes, withdraw everything except $15 on Dec 2, and then close after the bonus interest is paid?
 
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