HWZ Forums

Login Register FAQ Mark Forums Read

Citibank Maxigain Savings Account

Like Tree651Likes
Reply
 
LinkBack Thread Tools
Old 30-11-2019, 04:45 PM   #6526
Senior Member
 
Join Date: May 2000
Posts: 594
Does Maybank iSAVvy account give (pay) interest (for Sunday) for money FAST transferred into the account on Sunday, 1 Dec 2019 (from MaxiGain account)?
It did not say it's working day so I assume counted. Will transfer all over to Maybank with 2.1% at least for Dec... Hopefully they continue next year
bryan76 is offline   Reply With Quote
Old 30-11-2019, 04:55 PM   #6527
Senior Member
 
Join Date: Dec 2013
Posts: 1,415
I will just leave $0.01. Then top up if really there is overdraft
Ask for waiver lor. Lol
mdax23 is offline   Reply With Quote
Old 30-11-2019, 05:16 PM   #6528
Master Member
 
Join Date: May 2018
Posts: 4,164
Transferring all out tonight midnight then next week go citi close acc!
assiak71 is offline   Reply With Quote
Old 30-11-2019, 05:44 PM   #6529
Senior Member
 
Join Date: Nov 2005
Posts: 536
Does Maybank iSAVvy account give (pay) interest (for Sunday) for money FAST transferred into the account on Sunday, 1 Dec 2019 (from MaxiGain account)?
not sure about this. but i'd rather take the chance maybank might pay the interest on 1 Dec, instead of leaving it for one more day in citi because that is 0% chance of getting any interest.
luvpraline is offline   Reply With Quote
Old 30-11-2019, 06:06 PM   #6530
Supremacy Member
 
testingabc's Avatar
 
Join Date: Sep 2013
Posts: 9,154
I will probably zero out MaxiGain account and close it a few days time as my counter is 6 only. Either going with iSavvy or Esaver I suppose
testingabc is offline   Reply With Quote
Old 30-11-2019, 06:12 PM   #6531
Senior Member
 
Join Date: Sep 2004
Posts: 1,397
do you need to go to a citibank branch to close a account?

Transferring all out tonight midnight then next week go citi close acc!
saggice is offline   Reply With Quote
Old 30-11-2019, 06:34 PM   #6532
Supremacy Member
 
swathe's Avatar
 
Join Date: Feb 2001
Posts: 7,977
Rethnk about it,
1 Dec - Withdraw all
31 Dec - Interest comes in
31 Dec - Withdraw all except $15
2 Jan - Close account hopefully with $15 still intact
swathe is offline   Reply With Quote
Old 30-11-2019, 07:53 PM   #6533
Supremacy Member
 
Join Date: Jan 2013
Posts: 6,546
Rethnk about it,
1 Dec - Withdraw all
31 Dec - Interest comes in
31 Dec - Withdraw all except $15
2 Jan - Close account hopefully with $15 still intact
Dec's interest will only be known on 1 Jan though ..
oceanicmanta is offline   Reply With Quote
Old 30-11-2019, 07:57 PM   #6534
Junior Member
 
Join Date: Oct 2018
Posts: 89
Hello,

In case anyone needs a summary of the upcoming changes to the Maxigain account, other alternatives that are available at this stage and what to take note of when closing the account, I have written a little post on it. Hopefully it will be helpful to anyone.

https://theboywhoprocrastinates.blog...tions-for.html
leonaheidern and kurtisnet like this.
Boy who Procrastinates is offline   Reply With Quote
Old 30-11-2019, 09:30 PM   #6535
Master Member
 
Join Date: Nov 2005
Posts: 2,686
Thanks for sharing
droozy is offline   Reply With Quote
Old 30-11-2019, 09:46 PM   #6536
Master Member
 
foxer77's Avatar
 
Join Date: Dec 2004
Posts: 3,501
Hello,

In case anyone needs a summary of the upcoming changes to the Maxigain account, other alternatives that are available at this stage and what to take note of when closing the account, I have written a little post on it. Hopefully it will be helpful to anyone.

https://theboywhoprocrastinates.blog...tions-for.html
Great summaries 1.47% that the max it shall go

Most bank fd also start to decline in intrest
foxer77 is offline   Reply With Quote
Old 30-11-2019, 10:05 PM   #6537
Banned
 
Join Date: Jul 2017
Posts: 17,518
I stand corrected on this ...

... Citi Live Chat informs me that

"solo account and joint account are considered separate relationship thus each needs to maintain average daily balance of 15K to avoid service fee."

Also, in order to get Bonus interest, need to keep $1 balance

MaxiGain can go into negative balance

I am not totally sure if the above is really the case ...
Thanks.
SKenny is offline   Reply With Quote
Old 30-11-2019, 10:27 PM   #6538
Senior Member
 
Join Date: May 2017
Posts: 553
The Citibank daily limit for FAST transfer out is $100,000. If one has balance of $150,000 in MaxiGain account, which option is the optimum amount to transfer out and the balance to maintain on 1 Dec 2019?
(a) On 1 Dec, transfer out $80,000. Leave a balance of $70,000; or
(b) On 1 Dec, transfer out $100,000. Leave a balance of $50,000.

I was thinking should do (a) because the $70,000 could earn base interest for 1 day or am I incorrect (because there is absolutely no way to earn any base interest even for a day)?
Han Shot First is offline   Reply With Quote
Old 30-11-2019, 10:59 PM   #6539
Banned
 
Join Date: Mar 2019
Posts: 169
Am i correct to say?

For existing counter 6 and above, counter will drop to 6 with new revised rate of 0.3%:

with 75k, you should expect an bonus interest of 75k x 0.3/100 x 30/365 = 18.49 sgd
with 150k, you should expect an bonus interest of 150k x 0.3/100 x 30/365 = 36.99 sgd

>60,833, can consider keeping 1 sgd throughout Dec and pay off $15 on 2 Jan
<= 60,833, withdraw everything

For counter 5 and below, you have to decide if you want to pay the early account closure
1scape is offline   Reply With Quote
Old 30-11-2019, 11:14 PM   #6540
Arch-Supremacy Member
 
Lex1989's Avatar
 
Join Date: Nov 2008
Posts: 11,956
The Citibank daily limit for FAST transfer out is $100,000. If one has balance of $150,000 in MaxiGain account, which option is the optimum amount to transfer out and the balance to maintain on 1 Dec 2019?
(a) On 1 Dec, transfer out $80,000. Leave a balance of $70,000; or
(b) On 1 Dec, transfer out $100,000. Leave a balance of $50,000.

I was thinking should do (a) because the $70,000 could earn base interest for 1 day or am I incorrect (because there is absolutely no way to earn any base interest even for a day)?
Go down to branch to close account on 2 Dec take full cash and dump into another bank.
Lex1989 is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On