Citibank Maxigain Savings Account

Han Shot First

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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

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.
 

havetheveryfun

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wont lose 1000$ la. happened to me in scb b4. 20k!

jus relax. yday was a weekend!

same.. except SCB compensated me 20 bucks for the error the next week and all done automatically by them, i didnt even complain about it to them
 

Ahboy069

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Any idea the bonus interest gain at end dec for nov if my amount was 150k in end nov
I’m keeping 15000 to end dec if it is good thx
 

finalforce

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Not sure if related, but my dbs account that received my money disappeared from my ibanking.. Made 2 transfers <=50k
 

klarklar

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Is there a mini "bank run" on Citibank today? Bank playing games with FAST transfer to halt "bank run"?
 

Nofear40

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Anyone choose to keep their funds in maxigain till end of Dec?

I might leave till end of Dec to wait for CNY deals
I have already maximise other savings (DBS multiplier and UOB) maximum balances to earn decent interest. And CIMB fast saver only fetches 1%
Unless I put in 3 months CIMB 1.7% FD
 
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fuschia

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That's what I think happened to me too. I transferred 100K using the app and the money was debited from Maxigain but not credited to my other bank account. It seems to have disappeared.

How do you know it's converted to Giro? It says "same day external transfer" for me.

This is seriously messed up.
Same happened to me. It seemed like Citibank auto decide what mode of transfer. When I did my first transfer to test out the newly linked external account, it was via Fast. Used the same steps and ended up with "same day external transfer". Lugi few days of interests.
 

Linkenmort

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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.
 

maumu

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i'll be staying with the account for now. 1.4% or 1.5% is still better than those 1% passive accounts from cimb, etc.

and i'm concerned about rotating huge amounts over eSaver/iSavvy where there are daily limits, transaction limits, etc. it's pretty tough to monitor which account to transfer to w/o breaking the limit, etc. idk how you guys do it with over 150k or 250k to ensure the funds are 'fresh'...
 
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