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Citibank Maxigain Savings Account

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Old 02-12-2019, 05:16 PM   #6856
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I tried 50k failed. 40k failed.
Sorry to hear that. According to Citi sms, problem fixed since 10am today. Fast problem can be with receiving bank too.

Is your Citi account by any chance flagged as inactive?

Last edited by tmkedmw; 02-12-2019 at 05:18 PM..
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Old 02-12-2019, 05:18 PM   #6857
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Sorry to hear that. According to Citi sms, problem fixed since 10am today. Fast problem can be with receiving bank too.
Nope. It's not fixed. Works 1min and fail the next.
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Old 02-12-2019, 05:19 PM   #6858
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Of the many fast trsnsfers u do, u got do $1000 Fast? If don't have, then the discrepancy is really scary.
quite a lot of discrepancies that seems like they are now calling up everyone who transfered yesterday , sucessful or not
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Old 02-12-2019, 05:20 PM   #6859
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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.
someone posted earlier the T&Cs wrote need to have min $1 in acc to be eligible for bonus interest

add the post https://forums.hardwarezone.com.sg/1...-post6648.html

Last edited by havetheveryfun; 02-12-2019 at 05:23 PM..
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Old 02-12-2019, 05:25 PM   #6860
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Took my 100k in cashier order and closed the account

Life is good.

More rate cuts and global central bank QE next year.

Buy safe with intermediate to longer term maturity bonds for capital gain perhaps.

Mbh and A35 comes to mind

Alternatively ssb allows you to fix rates without principal being affected (zero price volatility risk before maturity)

Last edited by Johnpierpontmorgan; 02-12-2019 at 05:48 PM..
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Old 02-12-2019, 05:38 PM   #6861
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Hello im confused.

If lets say, i am receiving $300/mth of interest as of 30nov. How much money should i leave inside the Maxigain to reap the remaining last bit of interest?

I see some posts says leave $1, some says 15k. Please advise thanks.
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Old 02-12-2019, 05:47 PM   #6862
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Hello im confused.

If lets say, i am receiving $300/mth of interest as of 30nov. How much money should i leave inside the Maxigain to reap the remaining last bit of interest?

I see some posts says leave $1, some says 15k. Please advise thanks.
Keep things simple. Just close it and move to better rates product
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Old 02-12-2019, 06:07 PM   #6863
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Keep things simple. Just close it and move to better rates product
Thanks bro. I think i will close it bah.
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Old 02-12-2019, 06:10 PM   #6864
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Hello im confused.

If lets say, i am receiving $300/mth of interest as of 30nov. How much money should i leave inside the Maxigain to reap the remaining last bit of interest?

I see some posts says leave $1, some says 15k. Please advise thanks.
withdraw everything and put to another instrument that gives u more for the month of Dec. keep $1 in the account to get your remaining $285 ($300-$15 fall below fee) Nov interest on 31 Dec. then close account on 1 Jan 2020.
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Old 02-12-2019, 06:12 PM   #6865
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Keep things simple. Just close it and move to better rates product
wow, keep things simple and throw away $285????
peasants like myself care about even $50 lol..
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Old 02-12-2019, 06:13 PM   #6866
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withdraw everything and put to another instrument that gives u more for the month of Dec. keep $1 in the account to get your remaining $285 ($300-$15 fall below fee) Nov interest on 31 Dec. then close account on 1 Jan 2020.
Oh. $1 is it?? Thanks!
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Old 02-12-2019, 06:14 PM   #6867
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withdraw everything and put to another instrument that gives u more for the month of Dec. keep $1 in the account to get your remaining $285 ($300-$15 fall below fee) Nov interest on 31 Dec. then close account on 1 Jan 2020.
this is incorrect ... u may want to clarify

reducing to $1 for Dec, wont get $300 in interest on 31 Dec.
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Old 02-12-2019, 06:15 PM   #6868
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The flaw is in this sentence you wrote...



... 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'.
There is no correct or incorrect way to calculate rate of return as there is pre-requisite for avoiding fall below fee, and there is pre-requisite min balance to receive bonus interest by end Dec.

I won't argue with you, because it seems you don't understand those pre-requisites yet (as evidence when you say this:... 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.)

I am sharing only for those who want to maximise return.

You do whatever you want with your money. None of my business, right?

Last edited by heng_ah; 02-12-2019 at 06:19 PM..
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Old 02-12-2019, 06:17 PM   #6869
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this is incorrect ... u may want to clarify

reducing to $1 for Dec, wont get $300 in interest on 31 Dec.
Able to elaborate? I just Fast out everything except $1.

Turns out my account was dormant hence the issues earlier with FAST out.
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Old 02-12-2019, 06:59 PM   #6870
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wow, keep things simple and throw away $285????
peasants like myself care about even $50 lol..
Able to elaborate? I just Fast out everything except $1.

Turns out my account was dormant hence the issues earlier with FAST out.
use common sense, if really can get $280+, you wont have people closing accounts left and right already yesterday.

by withdrawing and left $1, you already forfeit the base interest as you need minimum 70k daily balance. then by withdrawing again, your counter will drop either to counter 0 or counter 6 depending on where you are. so the most you are going to get is 0.3% (counter 6) bonus interest based on your Nov balance which is around $37 for 150k .
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