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Citibank Maxigain Savings Account

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Old 04-05-2019, 10:51 PM   #5401
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I remember my account was inactive previously and counter still step up and interest still come in every month.

Inactive State, you can login to internet banking to activate the account.

If the account go into dormant state, not sure whether there is such feature to activate it back online.

Anyway no need FAST monthly, you can do a small amount FAST - $0.01 quarterly.
Is withdrawing interest considered a transaction and keep the account active?
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Old 04-05-2019, 10:57 PM   #5402
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Yes it is.

Is withdrawing interest considered a transaction and keep the account active?
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Old 05-05-2019, 09:18 PM   #5403
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How did you calculate 2.5163%?

If counter 12 with at least 70k,
it is 1.2 + 0.7*1.82 = 1.2 + 1.274 = 2.474%

(Assumption Sibor constant at 1.82%)
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Old 05-05-2019, 09:34 PM   #5404
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Is it possible to have more than one MaxiGain account?
Thinking of opening 2nd one and wait for counters to accumulate.
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Old 05-05-2019, 09:41 PM   #5405
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How did you calculate 2.5163%?

If counter 12 with at least 70k,
it is 1.2 + 0.7*1.82 = 1.2 + 1.274 = 2.474%

(Assumption Sibor constant at 1.82%)
2.5163% is Effective Interest Rate (EIR).

You can calculate based on the below formula and substitution.
For D, you can derive using either method listed below.

EIR = C / D

A = Bonus Interest Earned / No. Of Days in Mar 2019
B = Interest Earned / No. Of Days in Apr 2019
C = (A + B) x No. of Days in 2019
D = End of Day Balance on 30 Apr 2019 (without 30 Apr Bonus Interest & Interest Earned) = 1st May 2019 Opening Balance (with 30 Apr Bonus Interest & Interest Earned) - A - B

Last edited by NTTDoCoMo; 05-05-2019 at 09:47 PM..
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Old 05-05-2019, 09:58 PM   #5406
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Is it possible to have more than one MaxiGain account?
Thinking of opening 2nd one and wait for counters to accumulate.
Open a joint account..
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Old 05-05-2019, 10:14 PM   #5407
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anyone tried dbs iBanking funds transfer to citi maxi account?
i tried and the request was rejected.
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Old 05-05-2019, 11:02 PM   #5408
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anyone tried dbs iBanking funds transfer to citi maxi account?
i tried and the request was rejected.
are you transferring quite a large significant sum ? If so, check your own daily FAST transfer limits in your account.

or you can try to FAST $1 first to see if it works.
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Old 05-05-2019, 11:26 PM   #5409
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are you transferring quite a large significant sum ? If so, check your own daily FAST transfer limits in your account.

or you can try to FAST $1 first to see if it works.
New BIC code since 15-Apr. U need to update the SWIFT of Citibank if you are using your preset SWIFT that was setup before the change. Changed to Citibank Singapore Limited. Not Citibank N.A.
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Old 06-05-2019, 12:23 AM   #5410
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New BIC code since 15-Apr. U need to update the SWIFT of Citibank if you are using your preset SWIFT that was setup before the change. Changed to Citibank Singapore Limited. Not Citibank N.A.
he said dbs. dbs sent email said no need to do anything for local transfers, they will change on their side. also seldom heard of local transfer need swift codes, usually is incoming/outgoing overseas then need, as local transfer u jst need to choose the bank and the rest they automatically set for u.
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Old 06-05-2019, 06:39 AM   #5411
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New BIC code since 15-Apr. U need to update the SWIFT of Citibank if you are using your preset SWIFT that was setup before the change. Changed to Citibank Singapore Limited. Not Citibank N.A.
this is correct, have the same experience last week when transfer from hsbc
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Old 06-05-2019, 06:54 AM   #5412
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anyone tried dbs iBanking funds transfer to citi maxi account?
i tried and the request was rejected.
An inactive maxigain acct cannot accept incoming fast transfer.
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Old 06-05-2019, 07:03 AM   #5413
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this is correct, have the same experience last week when transfer from hsbc
my automatic $1 transfer monthly set up few months ago still works without me changing anything for DBS
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Old 06-05-2019, 07:46 AM   #5414
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are you transferring quite a large significant sum ? If so, check your own daily FAST transfer limits in your account.

or you can try to FAST $1 first to see if it works.
tried, but doesn't work.
New BIC code since 15-Apr. U need to update the SWIFT of Citibank if you are using your preset SWIFT that was setup before the change. Changed to Citibank Singapore Limited. Not Citibank N.A.
tried both, cant work.
An inactive maxigain acct cannot accept incoming fast transfer.
inactive? its receiving monthly int
my automatic $1 transfer monthly set up few months ago still works without me changing anything for DBS
hmm...
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Old 06-05-2019, 08:46 AM   #5415
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tried, but doesn't work.

tried both, cant work.

inactive? its receiving monthly int

hmm...
You can login to Citibank Online banking using desktop browser (Not Mobile App) to check if there is an inactive beside the account. If there is, you can activate it online.

Inactive account will still receive interest.
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