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Citibank Maxigain Savings Account

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Old 02-12-2019, 01:36 AM   #6736
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i thought the limits will be refreshed after midnight. looks like not a FAST issue. Citi probably lowered the transfer limit. it use to be 50k.

just keep spamming the transfer. i did it that way and managed to reduce the balance to 0. probably try 1k per transfer.
Guys i have to tell you one very bad news. While making mass transfer of 1k, one of them went missing. The amt debit from my citibank was clearly 10k but my ocbc acct only recieve 9k.


This is the last straw. Is this a hint that i just lost $1000 like that?
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Old 02-12-2019, 01:39 AM   #6737
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The excuses citi give are lame. I hope these are not indicative of liquidity crisis becos of massive withdrawals. I tried withdrawing remaining amount with 10k each time using FAST. It shows deducted successfully but recipient bank acct is not credited! Sigh.
Huh that means the transfers are not FAST right? FAST is supposed to work almost immediately. This is strange 'cos tot the limit is $50k...

Can someone write a template complaint email for us to mass complain to MAS? I only managed to withdraw 8k. Fking pathetic

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My complaint to MAS is about the unauthorised change from FAST to GIRO transfer, not about their system problems with withdrawals. If anyone want to use a template, this is a simplified version of my complaint (ownself change text in red if applicable):

I would like to raise my concerns over Citibank Singapore ("Citi")'s unauthorised actions over a fund transfer.

On X Dec 2019, I used Citi's mobile app to make a FAST transfer of $XXX out of my Citi MaxiGain account to a XXX bank account. The amount is immediately deducted from my MaxiGain account but is not received by the XXX account even though many hours have passed. As I understand, FAST transfers should be effected almost immediately and is available 24/7. When I check my MaxiGain account, the transfer is reflected as "SAME DAY EXTERNAL TRANSFER" and dated X Dec 2019.

I understand from Citi that the mode of my fund transfer request has been changed from FAST to GIRO, because the bank has a limit of S$50,000 for FAST transfers. This should not be true as the limit for FAST transfers has long been increased to $200,000 (abs.org.sg/docs/library/media-release-20180202fbf6a59f299c69658b7dff00006ed795.pdf). More importantly, Citi has, on its own accord, amended my request for a FAST transfer into a GIRO transfer without my express consent. There was no indication in the app during the steps before the final submission that the transfer mode is changed to GIRO. It is unscrupulous for Citi to change the transfer mode without customers' consent.

I hope that MAS will look into this matter as there are many affected customers like me. Due to Citi's revision to the MaxiGain account T&C effective 2 Dec 2019, there are many customers transferring out funds from their MaxiGain accounts these few days, and the amounts would likely be more than $50k too and caught within Citi's hidden rule of $50k FAST transaction limit.

Thank you. Hope to hear an prompt reply.
Write your complaint in a Word and save as PDF/Word doc to attach to the feedback form @ eservices.mas.gov.sg/consumerfeedback/ (cause the web page has restrictions on special characters for the Feedback textbox).

I can't post hyperlinks so have removed the "h t t p s : / /" in links above.

Last edited by kikomi; 02-12-2019 at 01:42 AM..
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Old 02-12-2019, 01:46 AM   #6738
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Guys your complaint are nth now.

I just lost $1000 just like this. This is not even funny. What am i suppose to be do?
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Old 02-12-2019, 01:55 AM   #6739
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@kikomi,

FAST daily transfer limit is $200,000 (according to ABS). However, I believe individual bank can impose a lower daily limit. I have asked banks before.

So I think that part of your complaint concerning the above will probably be rejected by MAS immediately. You ought to focus your complaint to the unauthorised conversion of FAST transfer to GIRO transfer; that part is devious on Citibank's part.
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Old 02-12-2019, 01:55 AM   #6740
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Guys your complaint are nth now.

I just lost $1000 just like this. This is not even funny. What am i suppose to be do?
In transaction history, is there a different description for one of the $1,000? If Citi changed that transfer to GIRO, it should be reflected as "SAME DAY EXTERNAL TRANSFER".

If all transfers are same (FAST), guess wait till tmr aftn see if still nothing, lodge police report?

@kikomi,

FAST daily transfer limit is $200,000 (according to ABS). However, I believe individual bank can impose a lower daily limit. I have asked banks before.

So I think that part of your complaint concerning the above will probably be rejected by MAS immediately. You ought to focus your complaint to the unauthorised conversion of FAST transfer to GIRO transfer; that part is devious on Citibank's part.
Ya that was my main complaint. Citi's lame FAST limit i dun really care. But Citi never inform customers beforehand of this limit when performing the FAST transfer in app and anyhow change the transfer method to GIRO, that's wrong. >

Last edited by kikomi; 02-12-2019 at 01:58 AM..
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Old 02-12-2019, 02:09 AM   #6741
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If i go down to bank directly to close account and take cashier's order, that should be better?
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Old 02-12-2019, 03:07 AM   #6742
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If i go down to bank directly to close account and take cashier's order, that should be better?
do let us know whether they charge u on the cash order. Seem some one mention that...
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Old 02-12-2019, 03:10 AM   #6743
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Will have 250k cash tmr. Which Banks FD should I go to if I can hold for 12 - 18 months?

HLF >1.73%

ICBC> ibanking 1.75%. counter service 1.7%
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Old 02-12-2019, 04:11 AM   #6744
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Can someone write a template complaint email for us to mass complain to MAS? I only managed to withdraw 8k. Fking 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.
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Old 02-12-2019, 06:33 AM   #6745
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wont lose 1000$ la. happened to me in scb b4. 20k!

jus relax. yday was a weekend!
Guys your complaint are nth now.

I just lost $1000 just like this. This is not even funny. What am i suppose to be do?
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Old 02-12-2019, 06:58 AM   #6746
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I think I will just head down to the bank tml to withdraw and close account.
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Old 02-12-2019, 07:23 AM   #6747
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wont lose 1000$ 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
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Old 02-12-2019, 07:24 AM   #6748
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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
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Old 02-12-2019, 07:24 AM   #6749
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Really knn, finally managed to withdraw here after multiple 2k per transfers
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Old 02-12-2019, 07:57 AM   #6750
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Not sure if related, but my dbs account that received my money disappeared from my ibanking.. Made 2 transfers <=50k
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