Citibank Maxigain Savings Account

rottingapple

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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.
 

orkestar

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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
 

Gattberserk

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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.
 

vddgnd

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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 ?
 
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dreant

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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.
 

tmkedmw

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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.
 

ashethen

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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.

Sent from Samsung SM-N960F using GAGT
 

tmkedmw

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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
 

tesarise

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those that closed your maxigain acc: do you still retain citi priority? if i remember correctly, Citi priority is the thing that will trigger fall-below fees for <15k AUM. Maxigain has a lower minimum.
 

tmkedmw

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those that closed your maxigain acc: do you still retain citi priority? if i remember correctly, Citi priority is the thing that will trigger fall-below fees for <15k AUM. Maxigain has a lower minimum.
Not just citi priority, all tiers of citi banking clients are subjected to fall below fee of $15 for <15k TRB.

That includes normal banking tier, Priority, Citigold, Citigold private.

Most of us zero out and close account or leave $1 and with the intent to close Maxigain by Jan2020. At least for me, the tier doesn't matter anymore.
 

dreant

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Not specific to 1st Dec :

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

The limits are indicated in the Citi's Online User Agreement which the customer has to accept in order to use the app.

4.16. "FAST Transfer Limits" means (i) S$10,000 for each outgoing transaction via Citi Mobile® App or S$50,000 for each outgoing transaction via Citibank Online, and (ii) S$100,000 being the maximum aggregate outgoing transactions which I can originate in a day, or such other amounts as you may prescribe from time to time.

Aside from having been informed of the limits, by using the app they would also have accepted the following, in the same agreement...

(You == Citi)

You cannot guarantee the time at which the receiving banks or billing organisations will credit the account(s) of my payees.


AND

I accept that you may at your sole discretion credit the account(s) of the relevant payee(s) or issue a check or cashier's order to such payee(s) pursuant to the relevant payment or transfer instruction. I acknowledge that you are not responsible for any interruptions, errors, omissions or delays in the issue or remittance of such check or cashier's order howsoever arising

:o

Could it be improved? Sure; but they've covered all their bases and can't be faulted as long as the funds are eventually transferred (even if it finally ends up being sent over in the form of a cheque), and you can't say that they didn't have your consent.
 

ekardo

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well..I called up my CSO and met him..end up talking to 1 more AIA agent offering "pay monthly now till retirement" and get monthly allowance at age of retirement (55, 60 or 65, you decide)...4% annual interest and works out to be around more than 150% of what you invested...

I am skeptical with their promise....
 

tesarise

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Not just citi priority, all tiers of citi banking clients are subjected to fall below fee of $15 for <15k TRB.

That includes normal banking tier, Priority, Citigold, Citigold private.

Most of us zero out and close account or leave $1 and with the intent to close Maxigain by Jan2020. At least for me, the tier doesn't matter anymore.

i also closed my maxigain but still have credit cards with them. dunno if they will charge fall below or not
 

tmkedmw

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I don't use Citi apps. Bank t&c are all drafted by lawyers and cover their you know what...

Point is doing it on PC don't have this silent conversion. So imagine one's surprise when using app and kena silent conversion, like some of the posts here. Even Thread starter kena.

And I never heard of other bank apps doing silent conversion. If u try to fast amount that exceeds the bank limit, they just tell u limit is exceeded and halt the transfer.




The limits are indicated in the Citi's Online User Agreement which the customer has to accept in order to use the app.

4.16. "FAST Transfer Limits" means (i) S$10,000 for each outgoing transaction via Citi Mobile® App or S$50,000 for each outgoing transaction via Citibank Online, and (ii) S$100,000 being the maximum aggregate outgoing transactions which I can originate in a day, or such other amounts as you may prescribe from time to time.

Aside from having been informed of the limits, by using the app they would also have accepted the following, in the same agreement...

(You == Citi)

You cannot guarantee the time at which the receiving banks or billing organisations will credit the account(s) of my payees.


AND

I accept that you may at your sole discretion credit the account(s) of the relevant payee(s) or issue a check or cashier's order to such payee(s) pursuant to the relevant payment or transfer instruction. I acknowledge that you are not responsible for any interruptions, errors, omissions or delays in the issue or remittance of such check or cashier's order howsoever arising

:o

Could it be improved? Sure; but they've covered all their bases and can't be faulted as long as the funds are eventually transferred (even if it finally ends up being sent over in the form of a cheque), and you can't say that they didn't have your consent.
 

dreant

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I don't use Citi apps. Bank t&c are all drafted by lawyers and cover their you know what...

Point is doing it on PC don't have this silent conversion. So imagine one's surprise when using app and kena silent conversion, like some of the posts here. Even Thread starter kena.

And I never heard of other bank apps doing silent conversion. If u try to fast amount that exceeds the bank limit, they just tell u limit is exceeded and halt the transfer.

You need to accept the same agreement to use Citi's online banking.
 

tmkedmw

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Received call from +60323837500 which i did not pick up

Is it related to citibank?

That's Citi fraud mgmt unit based out of KL. You can call back this local number to reach them 63375519.
 
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