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Citibank Maxigain Savings Account

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Old 03-12-2019, 02:25 PM   #6916
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Did you nett off the reversed fast transfers?
e.g. 10x1k fast transfer outward, 1x1k fast transfer (rev)
Its very simple for me to keep track.

I withdraw 100K out, my recieve bank only get 99K even up to now.


Its very simple why I had 100.7K (with interest) and I end up 99.7K after I am left with $1 in citibank account.


Yes I only left $1 now. So there is no reason to explain anything.
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Old 03-12-2019, 03:07 PM   #6917
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just my guess that rottingapple's $4.90 is the base interest for 2 days in dec.
he probably did not get anything from the accrued Nov bonus interest, probably forfeited.
CSO quoted me around the $4 too. But she said I cannot get it unless I wait until end of the month to close it.
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Old 03-12-2019, 03:26 PM   #6918
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Its very simple for me to keep track.

I withdraw 100K out, my recieve bank only get 99K even up to now.


Its very simple why I had 100.7K (with interest) and I end up 99.7K after I am left with $1 in citibank account.


Yes I only left $1 now. So there is no reason to explain anything.
Is there any possibility that you selected the wrong destination for one of the transfers?

My first thought would be to check if all the transfers has the same destination account, and perhaps just check one account above and below your destination account in the drop down list if the funds landed there instead.
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Old 03-12-2019, 04:42 PM   #6919
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Its very simple for me to keep track.

I withdraw 100K out, my recieve bank only get 99K even up to now.


Its very simple why I had 100.7K (with interest) and I end up 99.7K after I am left with $1 in citibank account.


Yes I only left $1 now. So there is no reason to explain anything.
Or maybe it could be your receiving bank got problem?
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Old 03-12-2019, 04:57 PM   #6920
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once ur balance is below 70k you get no bonus interest already, including the step up bonus
you will still get the step up bonus interest based on counter 6 right?
the minimum required balance is $1 for step up bonus interest., 70k is for base interest (i.e. SIBOR 70%)

From terms,
5. Interest at the Base Interest Rate will accrue daily, if you maintain at least S$70,000 in your MaxiGain account, based
on the daily end of day balance and will be paid on the last day of the month.

Nowhere mentioned about minimum balance needed for bonus stepup interest.

Last edited by curious_moo; 03-12-2019 at 05:06 PM..
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Old 03-12-2019, 05:01 PM   #6921
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just my guess that rottingapple's $4.90 is the base interest for 2 days in dec.
he probably did not get anything from the accrued Nov bonus interest, probably forfeited.
Ya i think i forfeited the interest for nov.
$4.90 is for 1 &2 dec.

Did you close at the branch or call the hotline?
I went down to the waterwaypoint branch to close it.
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Old 03-12-2019, 05:23 PM   #6922
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just to share my experience -

rm also called me to discuss other citibank products. i said not interested

i was at counter 9, so moved most of my funds into cimb fd 3 month tenure (1.7% interest) yesterday

this morning i wanted to move out my remaining funds but got locked out of citibank online banking. live chat was down, couldn’t call thru hotline either so i went straight to the citibank branch.

they unlocked online banking on the spot, FAST out rest of my funds and closed acct. interest for dec 1&2 they paid me in cash.

easier and less headache to do in person. think online banking will keep having problems + jan 2020 will have 2nd mass exodus
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Old 03-12-2019, 05:27 PM   #6923
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Is there any possibility that you selected the wrong destination for one of the transfers?

My first thought would be to check if all the transfers has the same destination account, and perhaps just check one account above and below your destination account in the drop down list if the funds landed there instead.
There is only 1 payee in my Maxigain acct.

I only create 1 payee in order to minimise error or send wrong. Right from start I always believe one day i may close the Citibank acct so I wont add more than 1 payee.


It is foolproof to a point no way I can make mistake.


I recieve call from citibank that the investigation have finish and they will refund me $1000 by 11.59pm today.


Now the million $ qn is, should i put $1 and keep till dec 31 before i close it.
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Old 03-12-2019, 05:54 PM   #6924
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Will take how long to reach 2.1%?

If today open isavvy and throw 75k funds can work towards the 2.1% ?
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Old 03-12-2019, 05:59 PM   #6925
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Will take how long to reach 2.1%?
It's immediate for Dec only. Interest to be determined for Jan onwards
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Old 03-12-2019, 05:59 PM   #6926
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There is only 1 payee in my Maxigain acct.

I only create 1 payee in order to minimise error or send wrong. Right from start I always believe one day i may close the Citibank acct so I wont add more than 1 payee.


It is foolproof to a point no way I can make mistake.


I recieve call from citibank that the investigation have finish and they will refund me $1000 by 11.59pm today.


Now the million $ qn is, should i put $1 and keep till dec 31 before i close it.
Before Citibank refund tonight, your Dec lowest balance is already $0 on 2nd-Dec ?

Last edited by vddgnd; 03-12-2019 at 06:02 PM..
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Old 03-12-2019, 06:26 PM   #6927
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There is only 1 payee in my Maxigain acct.

I only create 1 payee in order to minimise error or send wrong. Right from start I always believe one day i may close the Citibank acct so I wont add more than 1 payee.


It is foolproof to a point no way I can make mistake.


I recieve call from citibank that the investigation have finish and they will refund me $1000 by 11.59pm today.


Now the million $ qn is, should i put $1 and keep till dec 31 before i close it.
Well, sounds like the problem was indeed Citi.

If this happened to me, I would push it a little further; asking for an explanation (in writing) on how this happened, and what will Citi do to prevent a similar incident from happening to someone else again in future.

But at the end of the day, if it's clear you're no longer going to be a client, you probably won't have the clout to force them to give you an answer.
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Old 03-12-2019, 06:49 PM   #6928
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There is only 1 payee in my Maxigain acct.

I only create 1 payee in order to minimise error or send wrong. Right from start I always believe one day i may close the Citibank acct so I wont add more than 1 payee.


It is foolproof to a point no way I can make mistake.


I recieve call from citibank that the investigation have finish and they will refund me $1000 by 11.59pm today.


Now the million $ qn is, should i put $1 and keep till dec 31 before i close it.
It's scary that "FAST out" got deducted but there is no receipt of funds at receiving bank.

FAST protocol should not commit to outgoing bank deduction if receiving bank never acknowledge receipt.

Perhaps Citi FAST coding is wonky.

My layman 2 cents.
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Old 03-12-2019, 08:48 PM   #6929
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you will still get the step up bonus interest based on counter 6 right?
the minimum required balance is $1 for step up bonus interest., 70k is for base interest (i.e. SIBOR 70%)

From terms,
5. Interest at the Base Interest Rate will accrue daily, if you maintain at least S$70,000 in your MaxiGain account, based
on the daily end of day balance and will be paid on the last day of the month.

Nowhere mentioned about minimum balance needed for bonus stepup interest.
No won't get step up bonus because to qualify you need the balance to be equal or higher than previous month. No need minimum is correct.

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Old 03-12-2019, 09:22 PM   #6930
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Thank u for creating account to share your 1st virgin post on Citibank.

List of problems reported here :
1. wonky FAST transfers

2. hardware token out of sync (in that you dutifully key in the token 6 digit code, yet Citi say it is invalid, and need to ask Citi for help to sync the token, reset password, making u jump thru' hoops just to get online to do your stuff),

3. unexplained "kenna lock out of online login"

just too many problems on 1st Dec.


Not specific to 1st Dec :

1. >$50k FAST using app gets silently converted to GIRO without asking for customer consent.



just to share my experience -

rm also called me to discuss other citibank products. i said not interested

i was at counter 9, so moved most of my funds into cimb fd 3 month tenure (1.7% interest) yesterday

this morning i wanted to move out my remaining funds but got locked out of citibank online banking. live chat was down, couldn’t call thru hotline either so i went straight to the citibank branch.

they unlocked online banking on the spot, FAST out rest of my funds and closed acct. interest for dec 1&2 they paid me in cash.

easier and less headache to do in person. think online banking will keep having problems + jan 2020 will have 2nd mass exodus
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