Citibank Plus - No Fee No Overseas Transaction Fee Account

[QF029]

As I have a Citibank credit card it needs no ID for my account app, just need to send in a signature. Easy.

I had a Citibank credit card and I had to very at the post office.

 

[NM]

Does anyone know if there are fees/charges for depositing foreign currency into this account? Would it be better/cheaper to deposit a cheque drawn in US$ or use a wire transfer from a US account into the Citibank Plus account? I can't find any reference to deposits in foreign currency on the Citibank web site. It only seems to talk out outbound transfers.

As I just pulled the trigger to have these funds sent to me, I had two choices - a cheque in USD or a cheque in AUD using a 3% fee. So I called Citibank today (Saturday), expecting a poor customer service experience based on other people's posts on this forum. My call was answered quickly and the first agent tool my details, verified my identity and then put me through to the person who can answer my enquiry. All very efficient and a reasonable good experience .

Answer was that there is no fee for depositing a cheque into my Citubank Plus account, no matter if its drawn on a US company or an Aussie cheque. There is no foreign currency exchange rate fee charged and the AUD conversion will be done at the banks exchange rate of the day, which would be the same rate used if I was to make a withdrawal via ATM in USD the same day.

So looks like I will depositing it into my Citibank Plus account rather than my normal bank accounts at CBA. Then I can direct deposit transfer the funds from Citibank Plus account to my CBA account once the finds have cleared (10-15 working days for foreign cheque deposits).

A good question I would like the answer to also!

There are no fees according to the fees and charges booklet.
Corect according the customer service person I spoke with today.

They would use the bank rate as quoted on the Citibank website.

I am not sure where you find this rate quoted on the Citibank website. Can you post a URL/Link to it please?

Does anyone know if there are any fees for depositing a foreign cheque (say GBP cheque into my AUD citi account)?

Not for deposit into Citibank Plus account, according the customer service person I spoke with today.

 

[Chicken]

There are no fees according to the fees and charges booklet.
Corect according the customer service person I spoke with today.

I am not sure where you find this rate quoted on the Citibank website. Can you post a URL/Link to it please?

Foreign Exchange Rates

 

[NM]

Foreign Exchange Rates

Thanks for that. I spent quite a while looking for it. Much appreciated. It shows 2 cents diff between buy and sell US$, so I assume that is 1c either side of the actual rate. So way better than the 3% they wanted to convert to AUD to send me the cheque. Will be several hundred dollars better off with USD and deposited into Citibank Plus account.

 

[Mr_Orange]

Just received and activated my replacement chip and pin card. Much nicer design than the old card.

 

[Flashback]

It seems I don't even need to send in the signature form - received an e-mail yesterday telling me all approved and pin/card would arrive shortly. Easy.

 

[Ghostdunks]

Answer was that there is no fee for depositing a cheque into my Citubank Plus account, no matter if its drawn on a US company or an Aussie cheque. There is no foreign currency exchange rate fee charged and the AUD conversion will be done at the banks exchange rate of the day, which would be the same rate used if I was to make a withdrawal via ATM in USD the same day.

That part about the withdrawal via ATM in USD is incorrect as the exchange rate used in that situation will be the VISA exchange rate, not the bank's exchange rate

 

[PLANT]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

I'm in America and thought that withdraw from a citibank ATM no fees.
Looked online for ATM in Maui and says Walmart. Went there but no ATM and no one knows anything there.
Rang customer service and told that it's free from any ATM to withdraw even though the ATM says Fee will be charged for using??????
SO can I withdraw anywhere in America for Free ATM withdrawal and still get best Visa currency conversion rate?

 

[serfty]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

You will get just about the best rate.

If the ATM has a fee then you have to pay that on top.

The only consolation is that almost all other cards would leave you ~3% worse off.

 

[PLANT]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

I informed customer service that the ATM has a sign stating Fee will be charged and they said I will not be paying any fees. I asked for this to be placed on file and was assured it had been.
If Citie state no fees for ATM use then ACCC if I am charged a fee or not reimbursed?
How is a fee not a fee to use Citi ATM card?

 

[PLANT]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

Have I made a rookie mistake?
I believed a Safeway person that said I could get cashback/out with a purchase. I used self service and clicked debit but no pin and they say it has used credit card..... But the card is only a debit card so how is that possible and no I was unable to get cash out with purchase.
Will I be charged credit card fees with this purchase on citi plus account debit card?
What is the going rate from withdrawal from any atm in USA $3.25 for 1k out?

 

[DeKa]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

There is really only one way to use a Visa Debit card for purchases when overseas ... That is via the Visa network. The "button" that sends it to the Visa network is credit.

Why are you worried? There are no Citibank fees at all for purchases or cash withdrawals.

 

[serfty]

I informed customer service that the ATM has a sign stating Fee will be charged and they said I will not be paying any fees. I asked for this to be placed on file and was assured it had been.
If Citie state no fees for ATM use then ACCC if I am charged a fee or not reimbursed?
How is a fee not a fee to use Citi ATM card?

There are two types of fees pertinent to your issue.

Firstly, there is a Foreign Exchange Fee. This fee is not charged by Ctibank for using this card at an ATM.

Secondly, ATM owners may charge a fee for use - this is not a Citibank fee and can quite legally be charged on withdrawal.

As for ACCC I doubt you have a leg to stand on if it's the second fee you are getting upset about.

See here: www.citibank.com.au/global_docs/pdf/Feesandcharges.pdf


[TABLE="class: outer_border"]
[TR]
[TD]Product Fees and Charges
[TABLE="class: outer_border"]
[TR]
[TD][/TD]
[TD]Fee-free withdrawals per
month²[/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Citibank Plus
(Transaction Account)
...[/TD]
[TD]Unlimited[/TD]
[TD]...[/TD]
[/TR]
[/TABLE]
...
² Non-Citibank and non-Partner * ATM owners may charge you a fee for use of their ATMs. No Citibank Fees are charged for Citibank Plus Transaction Accounts (including no Dishonour Fees, no Bank Cheque fees, no Telegraphic Transfer fees and no International Transaction Fees). Debit Interest is charged for Unarranged Casual Overdrafts. See Debit Interest section for more information.[/TD]
[/TR]
[/TABLE]

 

[PLANT]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

Have I made a rookie mistake?
I believed a Safeway person that said I could get cashback/out with a purchase. I used self service and clicked debit but no pin and they say it has used credit card..... But the card is only a debit card so how is that possible and no I was unable to get cash out with purchase.
Will I be charged credit card fees with this purchase on citi plus account debit card?

Edit as stated above posts if it goes as a credit there are no fees charged?
I thought it odd i Safeway that a PIN or signature was not required?
Just swipe and gone?

 

[Flashback]

It seems I don't even need to send in the signature form - received an e-mail yesterday telling me all approved and pin/card would arrive shortly. Easy.

An update .... even though I changed the address back to my AU one and completely removed the UK one, I've received the pin to my UK address. Ahhh, Citibank. Actually works better for me though, but no biggie as I'm in AU in a few days anyway. Wonder where the card will be sent.

 

[PLANT]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

So just near in and out at lax is Citibank... Told u.s. bank can use ATM for free.
They believe all fees should be returned from ATM?

 

[PLANT]

Re: Citibank Everyday Plus - Free overseas ATM withdrawals!

Also $1500 in account to open an account here in US dollar account fee free ATM debt card.

 

[RooFlyer]

FWIW: I applied for a Citi Plus account on-line on Thursday the 15th; got e-mail confirming application same day. A week later e-mail saying account was open (all my on-line stuff accepted); then today (Thursday, 2 weeks after application) I got 5 separate letters in the post from Citibank - Pin, Card with T&Cs etc, Account details and 2 letters confirming I changed my details (which I had done by phone).

Hmmm... it appears they don't have ATMs in Canada. that's a pity, since I spend so much time there (but I do have a Canadian bank account, so that'll stay open).

They say to let them know if travelling overseas. I do this with my CBA credit cards, but since this is a debit card, does it matter? Does anyone do this?

 

[Flashback]

I've received everything except my card....................

 

[cove]

Last night we loaded 3 PINs using the revamped Citibank website in Australia and their new site works ok. I have 2 Citi Select cards as well as a Citi Plus debit card.