Citibank Maxigain Savings Account

kitkat2

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Bro theres 6 months TRB(total relationship balance) waiver. have to call in to get them to waive and ask them to tag this waiver to your acct coz its not auto. retail banks need to charge as much as possible their business is shrinking. guess how many Citi branches have closed down..

i'm not talking about TRB, i'm talking about min balance of the month which is used to determine whether the counter increment or not. i dont expect citi to charge fall below fee in line with what other banks are doing. unless you put in your first deposit on the very day the account is opened, your min balance will be zero. by not opening account on the spot and doing it in the background, it is harder for us to ensure the balance is non zero from the first day.

thanks for the insight to citi's business situation. i supposed they laid off the banking officers and are passing off credit card staffs as banking officers.
 

kitkat2

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It took me less than a week (including non-working days) to get my account setup. I think they are trying to manage my expectation, under promised and over delivered. I got my account mid of April which has a balance of $0. Then on the 29th April, i credited some money in, to ensure there is a plus 1 to my counter. :s13:

I did not have any hard password token (handled to me nor mailed to me), i need to go down to one of the branches for one, personally. :s22:

good for you. they took 3 weeks to open the account for me and another 3 weeks to send me the token.

you really received +1 to your counter for the account opening month? my account was opened in mid april too and by end of april i made the first deposit. my statement shows counter = 0 as the min balance was zero and the min balance date points to the day the account was opened.
 

Sambuca78

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Read the TnC, you have only fulfilled 1 of 4 requirements.

a) Start a Citi Priority relationship with new funds of minimum S$50,000 within 1 month of account opening.
b) Maintain a minimum of S$50,000 in your new Citi Priority account for a minimum period of six (6) months
from the date of deposit for the purpose of the Promotion, failing which Citibank reserves the right to debit
the value equivalent to the reward given to you, from any account that you maintain with Citibank.
c) Register for Electronic Banking Statements within 1 month of account opening and maintain the selection for
a minimum period of 2 months or until you receive the Citi Priority Welcome Reward.
d) Complete an Online Investment Risk Profile (IRP) on Citibank Online OR Total Wealth Fact Finder (TWFF)
session with a Personal Banker within 1 month of account opening.

https://www.citibank.com.sg/global_docs/pdf/CP_Welcome_Programme.pdf

Yes, all done up, so it will deposit in Oct since the acct opened on 25 April?

btw, if i m to schedule a mthly fund transfer from another bank to this acct is there a diff whether to do it on 30th or 1st every month? thanks.
 

oceanicmanta

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Yes, all done up, so it will deposit in Oct since the acct opened on 25 April?

btw, if i m to schedule a mthly fund transfer from another bank to this acct is there a diff whether to do it on 30th or 1st every month? thanks.

why do u need to schedule a mthly fund transfer into your Maxi account ?

just leave the initial deposit of 10k untouched, then only top up when total interest (base + bonus) is attractive enuf
 

Sambuca78

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why do u need to schedule a mthly fund transfer into your Maxi account ?

just leave the initial deposit of 10k untouched, then only top up when total interest (base + bonus) is attractive enuf

Cos I want to transfer part of my salary over as saving ma.
 

cybercom8

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Cos I want to transfer part of my salary over as saving ma.

think better wait till the counter is high enough to justify locking in the amount with maxigain because if you make a withdrawal, it will likely reset your counter
 

kate spade.90

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the $200 will be credited after 16-18weeks after account is opened. anybody interested to open Citigold account? There is $800 welcome gift
 

Lanotte

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Open Maxigain account at Serangoon Garden today
Was told to go back next monday when account ready to collect token

Received a SMS informing Maxigain account was expedited with account # provided

Noob questions
Is token needed to set up & to FAST transfer the 10k ?
Are setup similar to any ibanking eg, posb ?
TY
 

koja6049

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Open Maxigain account at Serangoon Garden today
Was told to go back next monday when account ready to collect token

Received a SMS informing Maxigain account was expedited with account # provided

Noob questions
Is token needed to set up & to FAST transfer the 10k ?
Are setup similar to any ibanking eg, posb ?
TY

token not needed, you can fast transfer with just the account number. But to be on the safe side, open the online banking account with the atm card and pin first, so that you can see your money actually going into the account
 

doody_

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Open Maxigain account at Serangoon Garden today
Was told to go back next monday when account ready to collect token

Received a SMS informing Maxigain account was expedited with account # provided

Noob questions
Is token needed to set up & to FAST transfer the 10k ?
Are setup similar to any ibanking eg, posb ?
TY

No need token, but I waited for mine to be activated so I could check the amount immediately. Else if transferred wrongly also don't know, by then too late to get the money back.
 

Sambuca78

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think better wait till the counter is high enough to justify locking in the amount with maxigain because if you make a withdrawal, it will likely reset your counter

Thanks, but I will not make any withdrawal from this account.


Is there a diff whether to do fund transfer from another bank to this acct on 30th or 1st every month? thanks.
 

cybercom8

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Thanks, but I will not make any withdrawal from this account.


Is there a diff whether to do fund transfer from another bank to this acct on 30th or 1st every month? thanks.

not sure as i am waiting till the counter is 12 before transferring more money to it :o

but i think usually interest is daily rated so transfer earlier earn higher interest earlier.

i think there should be better accounts for regular salary transfer, like esaver or uob hya etc so until this maxigain interest is higher than those 2, its better to deposit into scb or uob first as those 2 accounts allow you to withdraw money anytime and still earn high interest till day of withdrawal.
 

S1mpleGuy

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RM told me that once counter reaches 12 (1.2%), it stays there provided u don't breach their T&Cs.

Anyway, it is prudent to check again when u want to up your deposit from $10k to say max $150k when the EIR is high. Still many months away.
But RM told me once it hits 12 u get to enjoy the 1.2% only for 1month.. dunno who to believe
 

doody_

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Finally receiving bonus interest of 0.2% :o Total interest now is around 0.8% due to the drop in SIBOR... need another 2 months before it crosses 1%.
 
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