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Citibank Maxigain Savings Account

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Old 02-12-2019, 03:34 PM   #6841
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I got assigned a new RM
Just called me and told me got FD with better rates.. but need meetup for discussion
How ah?
Dont bother, they will tie you up with some 4% equities/bonds retirement plan... Hahahah with annual management fee of 1.4% and commission....
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Old 02-12-2019, 03:39 PM   #6842
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Dont bother, they will tie you up with some 4% equities/bonds retirement plan... Hahahah with annual management fee of 1.4% and commission....
Ahh.. seems like those typical insurance sales pitch
Sian.. like tt i prob transfer to UOB/cimb FD at 1.7% / 1.8% return p.a. better
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Old 02-12-2019, 03:48 PM   #6843
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Guys, is it right that I can zero my account once my bonus interests is credited?
And thereafter close it at the branch w/o any penalty?
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Old 02-12-2019, 03:53 PM   #6844
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Guys, is it right that I can zero my account once my bonus interests is credited?
And thereafter close it at the branch w/o any penalty?
Confirm no penalty, i juz come back from closing my acct. Yyesterday trf out today go branch close still get $5+ interests to eat lunch.
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Old 02-12-2019, 04:06 PM   #6845
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Citi long sms Lai liao.

Say 1st Dec 12 noon to 2nd Dec 10am Fast transactions done in this time period, pls check hor.

22hr of wonky FAST transfer jskm.
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Old 02-12-2019, 04:22 PM   #6846
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Yes. I was offered this as well when I closed my account via Citibank hotline.

anyone else can confirm?
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Old 02-12-2019, 04:23 PM   #6847
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Citi long sms Lai liao.

Say 1st Dec 12 noon to 2nd Dec 10am Fast transactions done in this time period, pls check hor.

22hr of wonky FAST transfer jskm.
just received call 1-2 hrs ago to check my transfers yesterday is genuine by myself or not.. thought they should call yesterday instead ?
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Old 02-12-2019, 04:37 PM   #6848
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That calculation is flawed, because you're keeping $15k in there to avoid a $15 fall below fee. The percentage of return for that is about ~1.17%p.a.
Who said i am keeping $15,000?
See my post #6780
I am keeping $1 for $36.98 interest (before $15 fall below fee).

At the meantime my $15,000 is working hard at Maybank for better return.

What is the percentage of $1 deposit will I get from Citi?

So, which part of my calculation is flawed....?!
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Old 02-12-2019, 04:55 PM   #6849
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Who said i am keeping $15,000?
See my post #6780
I am keeping $1 for $36.98 interest (before $15 fall below fee).

At the meantime my $15,000 is working hard at Maybank for better return.

What is the percentage of $1 deposit will I get from Citi?

So, which part of my calculation is flawed....?!
simply said, just withdraw all cash to another instrument.
keep $1 or simply $0 and close account only on 1 Jan.
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Old 02-12-2019, 04:56 PM   #6850
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Who said i am keeping $15,000?
See my post #6780
I am keeping $1 for $36.98 interest (before $15 fall below fee).

At the meantime my $15,000 is working hard at Maybank for better return.

What is the percentage of $1 deposit will I get from Citi?

So, which part of my calculation is flawed....?!
The flaw is in this sentence you wrote...

However you can workout the percentage as $36.98 out of that $15,000 remaining balance
... where I simply called out that it is incorrect to workout $36.98 out of $15k to figure out the % return of doing so; and that if someone was doing so, the correct calculation to understand what is the rate of return on parking that $15k there is really simply $15 of $15k.

There is no 'rate of return' even on your $1, because that is not the reason why you'll get $36.98 in your account at the end of Dec; you could leave the account with $0.01 or possibly even $0.00 to do so.

The main thing is, is there any merit to delay the account closing, and what (if any) is the opportunity cost to do so. Any attempt to figure out a percentage return on this action (or non-action) is moot.

Someone else has already correctly posted how to figure out the correct course of action for each individual here, and it is totally unrelated to any '% rate of return'.
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Old 02-12-2019, 04:56 PM   #6851
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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
Its a totally different case this time. First i needed the fund urgently. You only have one transaction which is easy to track and tally.

I have almost 200 transaction and they had to print out to tally the numbers. I had to take leave today just to go down and show them prove my recipients bank get $1000 less.
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Old 02-12-2019, 05:04 PM   #6852
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Fast transfer to Maybank iSavvy not working... zzz
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Old 02-12-2019, 05:06 PM   #6853
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Its a totally different case this time. First i needed the fund urgently. You only have one transaction which is easy to track and tally.

I have almost 200 transaction and they had to print out to tally the numbers. I had to take leave today just to go down and show them prove my recipients bank get $1000 less.
Wa steady ah. How long u took to effect all the 200 transactions?
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Old 02-12-2019, 05:09 PM   #6854
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Fast transfer to Maybank iSavvy not working... zzz
Even for small $ fast?
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Old 02-12-2019, 05:10 PM   #6855
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Even for small $ fast?
I tried 50k failed. 40k failed.
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