Citibank Maxigain Savings Account

Han Shot First

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Citibank Singapore ought to do at least the following on 2 Dec 2019, early morning, to rectify and redress this fiasco:
(a) Retract the new Terms and Conditions for MaxiGain Account. Reinstate the previous Terms and Conditions with immediate effect.
(b) Fire Charles Wong, Retail Banking Head, Citibank Singapore Limited with immediate effect. Mr Wong is responsible for creating the fiasco.
 

S1mpleGuy

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i tried many transactions and only a few got through. if tomorrow still like that nothing to say
 

Gattberserk

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Citi owned Everyone with int drop and system down. Epic siah

Fug them la... they need to be complain to MAS,


Have to ***** take leave to go down and sort their defecate. will head down to their branch to give them a middle finger.
 

trinitygoh

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Only managed to transfer additional 20k out since 12 am. The notification msgs delayed for abt 15 min. Really fail sia
 

havetheveryfun

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Citibank Singapore ought to do at least the following on 2 Dec 2019, early morning, to rectify and redress this fiasco:
(a) Retract the new Terms and Conditions for MaxiGain Account. Reinstate the previous Terms and Conditions with immediate effect.
(b) Fire Charles Wong, Retail Banking Head, Citibank Singapore Limited with immediate effect. Mr Wong is responsible for creating the fiasco.

u wait long long
 

kikomi

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:eek: if it's going to take 3 days for > 50k, there should have been a message before u guys did the transaction. was there?

NOOOO! I transferred via app and only at the end after submission, there is a small print "GIRO transfer will take 2-3 working days from date of execution" under Transfer date & type. Even so, I didn't believe that it was applicable to my transaction as I selected FAST transfer. Of course I'd want FAST rather than GIRO. Had I known that Citi has changed the transfer mode to GIRO, I would've not submitted the transfer request.

Will have 250k cash tmr. Which Banks FD should I go to if I can hold for 12 - 18 months?

You managed to avoid the FAST transfer limit? Else how to receive $250k by tmr since GIRO takes 2-3 working days.

I submitted a complaint to MAS. Given the number of people who are affected by Citi's hidden (and misguided) rule for FAST transfer limit, if half of us complained, I'm sure MAS will take action.
 
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luvpraline

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Same thing happened to me. I transferred more than $50k too and the money is gone from MaxiGain and not yet credited in my other account even though I'm sure I selected FAST transfer in Citibank mobile app, which I downloaded just so that I can add payee because their i-banking website sucks and is unable to do so.

I just called and was told the same thing by cso wtf. How can Citibank change the transfer mode from FAST to GIRO without the customer's consent?! And the answer about "oh because for FAST, there's a limit of $50k per day" is SUCH CRAP. Long ago already increased to $200k lah abs.org.sg/docs/library/media-release-20180202fbf6a59f299c69658b7dff00006ed795.pdf / abs.org.sg/docs/library/fast-faq.pdf

When I mentioned that, the cso went to check then came back said smt like oh 'cause I made the transfer after 5pm so will be processed the next bank working day and smt about today being Sunday, which is again CRAP. FAST transfers is 24/7 and supposed to be processed almost immediately, so what is this nonsense about bank working days or hours?!

I'm sure gg to complain to MAS abt this nonsense. If anyone wants to do so, eservices.mas.gov.sg/consumerfeedback/

Agree. FAST is FAST, GIRO is GIRO, if they are going to change mode to giro, at least get consent from customers first

on their internet banking, when i tried to FAST out > 50k, i received an error that they are unable to perform the transaction. no reason given but at least they didn't just convert it to GIRO
 

beautyseek

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The excuses citi give are lame. I hope these are not indicative of liquidity crisis becos of massive withdrawals. I tried withdrawing remaining amount with 10k each time using FAST. It shows deducted successfully but recipient bank acct is not credited! Sigh.
 

Gattberserk

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guy when i try to fast transfer it say contact 24 hrs assistant, does this mean my acct is locked because of countless transaction?


Please help me on this, i really dunwan to take a bloody leave just to go down and screw them.


Anyone else experience this?
 

1scape

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i thought the limits will be refreshed after midnight. looks like not a FAST issue. Citi probably lowered the transfer limit. it use to be 50k.

just keep spamming the transfer. i did it that way and managed to reduce the balance to 0. probably try 1k per transfer.
 

ashethen

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Can someone write a template complaint email for us to mass complain to MAS? I only managed to withdraw 8k. ***** pathetic

Sent from Samsung SM-N960F using GAGT
 

Gattberserk

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i thought the limits will be refreshed after midnight. looks like not a FAST issue. Citi probably lowered the transfer limit. it use to be 50k.

just keep spamming the transfer. i did it that way and managed to reduce the balance to 0. probably try 1k per transfer.

Guys i have to tell you one very bad news. While making mass transfer of 1k, one of them went missing. The amt debit from my citibank was clearly 10k but my ocbc acct only recieve 9k.


This is the last straw. Is this a hint that i just lost $1000 like that?
 

kikomi

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The excuses citi give are lame. I hope these are not indicative of liquidity crisis becos of massive withdrawals. I tried withdrawing remaining amount with 10k each time using FAST. It shows deducted successfully but recipient bank acct is not credited! Sigh.

Huh that means the transfers are not FAST right? FAST is supposed to work almost immediately. This is strange 'cos tot the limit is $50k...

Can someone write a template complaint email for us to mass complain to MAS? I only managed to withdraw 8k. ***** pathetic

Sent from Samsung SM-N960F using GAGT

My complaint to MAS is about the unauthorised change from FAST to GIRO transfer, not about their system problems with withdrawals. If anyone want to use a template, this is a simplified version of my complaint (ownself change text in red if applicable):

I would like to raise my concerns over Citibank Singapore ("Citi")'s unauthorised actions over a fund transfer.

On X Dec 2019, I used Citi's mobile app to make a FAST transfer of $XXX out of my Citi MaxiGain account to a XXX bank account. The amount is immediately deducted from my MaxiGain account but is not received by the XXX account even though many hours have passed. As I understand, FAST transfers should be effected almost immediately and is available 24/7. When I check my MaxiGain account, the transfer is reflected as "SAME DAY EXTERNAL TRANSFER" and dated X Dec 2019.

I understand from Citi that the mode of my fund transfer request has been changed from FAST to GIRO, because the bank has a limit of S$50,000 for FAST transfers. This should not be true as the limit for FAST transfers has long been increased to $200,000 (abs.org.sg/docs/library/media-release-20180202fbf6a59f299c69658b7dff00006ed795.pdf). More importantly, Citi has, on its own accord, amended my request for a FAST transfer into a GIRO transfer without my express consent. There was no indication in the app during the steps before the final submission that the transfer mode is changed to GIRO. It is unscrupulous for Citi to change the transfer mode without customers' consent.

I hope that MAS will look into this matter as there are many affected customers like me. Due to Citi's revision to the MaxiGain account T&C effective 2 Dec 2019, there are many customers transferring out funds from their MaxiGain accounts these few days, and the amounts would likely be more than $50k too and caught within Citi's hidden rule of $50k FAST transaction limit.

Thank you. Hope to hear an prompt reply.

Write your complaint in a Word and save as PDF/Word doc to attach to the feedback form @ eservices.mas.gov.sg/consumerfeedback/ (cause the web page has restrictions on special characters for the Feedback textbox).

I can't post hyperlinks so have removed the "h t t p s : / /" in links above.
 
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Gattberserk

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Guys your complaint are nth now.

I just lost $1000 just like this. This is not even funny. What am i suppose to be do?
 

Han Shot First

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@kikomi,

FAST daily transfer limit is $200,000 (according to ABS). However, I believe individual bank can impose a lower daily limit. I have asked banks before.

So I think that part of your complaint concerning the above will probably be rejected by MAS immediately. You ought to focus your complaint to the unauthorised conversion of FAST transfer to GIRO transfer; that part is devious on Citibank's part.
 

kikomi

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Guys your complaint are nth now.

I just lost $1000 just like this. This is not even funny. What am i suppose to be do?

In transaction history, is there a different description for one of the $1,000? If Citi changed that transfer to GIRO, it should be reflected as "SAME DAY EXTERNAL TRANSFER".

If all transfers are same (FAST), guess wait till tmr aftn see if still nothing, lodge police report?

@kikomi,

FAST daily transfer limit is $200,000 (according to ABS). However, I believe individual bank can impose a lower daily limit. I have asked banks before.

So I think that part of your complaint concerning the above will probably be rejected by MAS immediately. You ought to focus your complaint to the unauthorised conversion of FAST transfer to GIRO transfer; that part is devious on Citibank's part.

Ya that was my main complaint. Citi's lame FAST limit i dun really care. But Citi never inform customers beforehand of this limit when performing the FAST transfer in app and anyhow change the transfer method to GIRO, that's wrong. :mad:
 
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