Can someone post a template complaint letter about Citibank Singapore to feedback to MAS consumer feedback website (
https://eservices.mas.gov.sg/consumerfeedback/ )?
The complaint should focus on Citibank Singapore refusing to allow customers to FAST transfer to other banks by REVERSING the FAST transfers, and in particular, for withdrawal transfers from customers' MaxiGain accounts. I think this situation is encountered by anyone attempting FAST transfers during the later part of 1 Dec 2019 as well as 2 Dec 2019.
Seems to me that Citibank Singapore is breaking the law or at least violating a financial regulation.
This was the complaint I sent to MAS. I hope they do something about this.
On Dec 1 2019, I tried to withdraw my entire balance from the Citibank Maxigain Account. Although within my daily transfer limit, all the FAST transfers I made were reversed by the bank. I was not able to withdraw any significant sums of money from this account.
Then, in the evening, I used their Mobile app to withdraw $100 000 (the maximum allowed) to a Standard Chartered account. I selected the FAST transfer option, however, unbeknownst to me, Citibank changed it to a GIRO mode of transfer which will take a few days.
This ordeal has caused me a huge amount of inconvenience and is really unbecoming of a financial institution that has QFB status in Singapore. I have lost a few days of interest off the $150000 in the account and have no idea whether the $100 000 that was transferred by GIRO is secure.
I understand that several other Citibank customers have faced the same problem yesterday. Please investigate. Thank you.