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Citibank Maxigain Savings Account

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Old 17-05-2018, 01:01 PM   #2596
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wait for official letter for more details. I got to know as a friend open account today and was told by Citibank on the changes wef 1July.
if no top up to 70k by 30jun, then earn 0 interest. The fine details I am not so sure too. not sure if really 0 interest or only affect base interest or step up bonus interest.
hey guys, in view of this rumour posted earlier.. is it advisable to wait til july to open the account? i was planning to do it next week..
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Old 17-05-2018, 02:47 PM   #2597
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Awful Citi Live Chat CSO Ralph Edwards

was using Citi live chat asking about daily transfer limit for my account

CSO Ralph Edwards wrongly attributed the $100k limit as being set by MAS. When I pointed this out to him that is incorrect. He refused to admit his mistake and said he cant help me further.

Instead, he tried to push a loan product to me !!

I said not interested and I am going to report this to MAS ... and he abruptly ended the chat before I could print screen what he wrote

OMG ...
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Old 17-05-2018, 02:51 PM   #2598
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was using Citi live chat asking about daily transfer limit for my account

CSO Ralph Edwards wrongly attributed the $100k limit as being set by MAS. When I pointed this out to him that is incorrect. He refused to admit his mistake and said he cant help me further.

Instead, he tried to push a loan product to me !!

I said not interested and I am going to report this to MAS ... and he abruptly ended the chat before I could print screen what he wrote

OMG ...
MAS limit for FAST now is $200k right?

Some banks already did that.

Only UOB still at $20k. Stop putting big amount at UOB now. Really wtf limit.
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Old 17-05-2018, 03:25 PM   #2599
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MAS limit for FAST now is $200k right?

Some banks already did that.

Only UOB still at $20k. Stop putting big amount at UOB now. Really wtf limit.
yes, MAS increased it to 200k since Feb18.

just be careful if his guy is responding ... anyhow hum tum
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Old 17-05-2018, 03:32 PM   #2600
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yes, MAS increased it to 200k since Feb18.

just be careful if his guy is responding ... anyhow hum tum
This misinformation sound serious if it's true lol
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Old 17-05-2018, 04:32 PM   #2601
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Hmm... citi does not provide a transcript of the Chat to customer but they certainly do keep a copy.
DBS doesn't too. Wonder which bank provide chat transcript to customer.

Next time, screen capture first b4 u type that u want to report him to MAS...

was using Citi live chat asking about daily transfer limit for my account

CSO Ralph Edwards wrongly attributed the $100k limit as being set by MAS. When I pointed this out to him that is incorrect. He refused to admit his mistake and said he cant help me further.

Instead, he tried to push a loan product to me !!

I said not interested and I am going to report this to MAS ... and he abruptly ended the chat before I could print screen what he wrote

OMG ...
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Old 17-05-2018, 04:36 PM   #2602
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Confirmed many times le. Opening account is 10k but fall below is 15k, waived for first few month only.
Hi, I just called Citibank. Service fees of 15$ apply if the Total Banking Relationship Balance (TBRB) is less than 15k.

This how the TBRB is calculated for joint account. See two examples of Person A and B TBRB below:

1) Person A TBRB: 20K and person B TBRB: 15K
Person A: Personal account (5K) + Joint Maxigain account with Person B (15K)
Person B: Joint Maxigain account with Person B (15K)

2) Person A TBRB: 15K and person B TBRB: 10K

Person A: Personal account (5K) + Joint Maxigain account with Person B (10K)
Person B: Joint Maxigain account with Person B (10K)

** Person B will be charged 15$ service fees.

Hope the above helps!
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Old 17-05-2018, 05:44 PM   #2603
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was using Citi live chat asking about daily transfer limit for my account

CSO Ralph Edwards wrongly attributed the $100k limit as being set by MAS. When I pointed this out to him that is incorrect. He refused to admit his mistake and said he cant help me further.

Instead, he tried to push a loan product to me !!

I said not interested and I am going to report this to MAS ... and he abruptly ended the chat before I could print screen what he wrote

OMG ...
Ralph edward lj must be shrink now... Lol 😂 😂😂
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Old 17-05-2018, 05:47 PM   #2604
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Hi, I just called Citibank. Service fees of 15$ apply if the Total Banking Relationship Balance (TBRB) is less than 15k.

This how the TBRB is calculated for joint account. See two examples of Person A and B TBRB below:

1) Person A TBRB: 20K and person B TBRB: 15K
Person A: Personal account (5K) + Joint Maxigain account with Person B (15K)
Person B: Joint Maxigain account with Person B (15K)

2) Person A TBRB: 15K and person B TBRB: 10K

Person A: Personal account (5K) + Joint Maxigain account with Person B (10K)
Person B: Joint Maxigain account with Person B (10K)

** Person B will be charged 15$ service fees.

Hope the above helps!
Did u ask about the new rules stating must have 70k if not there is no interest at all? Someone mention here of this new ruling.
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Old 17-05-2018, 06:44 PM   #2605
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was using Citi live chat asking about daily transfer limit for my account

CSO Ralph Edwards wrongly attributed the $100k limit as being set by MAS. When I pointed this out to him that is incorrect. He refused to admit his mistake and said he cant help me further.

Instead, he tried to push a loan product to me !!

I said not interested and I am going to report this to MAS ... and he abruptly ended the chat before I could print screen what he wrote

OMG ...
Actually you no need to print screen, just report him lah. The bank should have kept the record of chat conversation in their database or log file. Just tell authority the exact date/time and CSO name. The bank is duty bound to provide that proof to authority if there's any investigation.
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Old 18-05-2018, 12:17 PM   #2606
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hey guys, in view of this rumour posted earlier.. is it advisable to wait til july to open the account? i was planning to do it next week..
I went down to Citibank last week, and they told me about the new $70k limit for Maxigain.

Also the base interest will be 70% of 3 mth Sibor instead of the current 80%.

Take effect on 1st July.
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Old 18-05-2018, 12:19 PM   #2607
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Someone may have asked this before
How they calculate/count lower balance of the month?
Let's say I am at the counter 2
1 May - balance 100K
10 May - withdraw 20K
12 May - deposit 25K
31 May - balance 105K
How they calculate my $ for May?
average daily balance? or 80K since I withdraw 20K.
Interest is calculate on a daily basis.

The step-up counter eligibility is based on the closing month amount.

Hopes this help.
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Old 18-05-2018, 12:20 PM   #2608
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I went down to Citibank last week, and they told me about the new $70k limit for Maxigain.

Also the base interest will be 70% of 3 mth Sibor instead of the current 80%.


Take effect on 1st July.
So once sibor goes higher and higher, citibank can just change to 60 percent....50 percent..

Clap clap.
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Old 18-05-2018, 12:27 PM   #2609
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So once sibor goes higher and higher, citibank can just change to 60 percent....50 percent..

Clap clap.
Technically, yes.

To be fair to Citibank, this is the first time they are changing the rate. Plus the current sibor rate is high (1.5%). If you combine the counter interest, total interest can be more than 2.2%.

I understand that citibank is not really keen to push this product due to the high rate. That is why you hardly see adverts on this product.

There is no lock-in period, and we can always take the money out if we do not like the terms. I would not complain too much as I do not want them to withdraw this product!
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Old 18-05-2018, 12:59 PM   #2610
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I already earned good interest for more than 2 years since I started the thread back in Feb 2016. IMO still worth to get this account. Treat it as a FD with flexibility to withdraw anytime and keep your interest earned.
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