Citibank Plus - No Fee No Overseas Transaction Fee Account

[Chicken]

I am ready to move away from Citi already, because Citi nor NAB are going to spend money on maintaining the infrastructure.

Beem It (owned by EFTPOS) is already kicking Citi off the system:

Update: eftpos online enabled cards
From 1 March 2023, Beem will implement changes to ensure that transactions get to their desired destination. As such, we will no longer be able to facilitate instant transfers to or from cards that are not eftpos online enabled.
This includes cards issued from:
+ Citibank

What are the alternatives please?

Perhaps something to bookmark for future

See AFF article "Best Credit Cards for Overseas Travel & Online Shopping". ATM cards are at the bottom of that page. Be careful that some of them have monthly fee or hops to jump thru in order to avoid monthly fee, while others don't have any fee any all.

Bankwest, mac bank too

Macquarie Bank removed themselves from the EFTPOS network, so their ATM cards have no EFTPOS facility. Bad. Why use them when there are so many other options?!

 

[Cynicor]

Does eftpos matter overseas

 

[theblank]

I am ready to move away from Citi already, because Citi nor NAB are going to spend money on maintaining the infrastructure

NAB in their public statement said they are building an entirely new platform for the Citi Products and NAB personal products together. That suggests spending money on infrastructure.

Beem It (owned by EFTPOS) is already kicking Citi off the system:

Update: eftpos online enabled cards
From 1 March 2023, Beem will implement changes to ensure that transactions get to their desired destination. As such, we will no longer be able to facilitate instant transfers to or from cards that are not eftpos online enabled.
This includes cards issued from:
+ Citibank

this might mean is just part of the transition and that Citibank issued cards wont work, but NAB issued Citibank cards will work.

 

[theblank]

The usual pattern would be to first shutdown the product to new customers, after some time attempt to move existing holders to another product (perhaps with an incentive), and then even later close the product

Such patterns like this usually evolve over many years before grandfathered accounts are merged into current products. Its not even worth thinking that it might happen. Dont forget NAB bought the entire products and customers for a premium, becuase there was certain product attributes that made Citi valuable. NAB is not going to close off popular products.

 

[Chicken]

NAB in their public statement said they are building an entirely new platform for the Citi Products and NAB personal products together. That suggests spending money on infrastructure.

It's call 86400 ubank!

But until my account is migrated to maybe 86400, my account is going to become more and more crippled, starting in a few weeks time. No one in their right mind is going to spend money on the existing Citi AU platform which will be retired in the next few years. I also have an existing account with Suncorp, which offers everything Citi offers plus 100x better customer service. So

 

[burmans]

Such patterns like this usually evolve over many years before grandfathered accounts are merged into current products. Its not even worth thinking that it might happen. Dont forget NAB bought the entire products and customers for a premium, becuase there was certain product attributes that made Citi valuable. NAB is not going to close off popular products.

Sure, don’t disagree in principle but closing a product to new customers tend to indicate this is not one of those popular products they are inclined to keep long term. Citi has plenty of products, not all will be regarded by NAB as great.

 

[3v]

The Citibank Plus application now indicates they will transition customers to equivalent NAB products later this year:

Please note that we will not be accepting new applications for the Citibank Plus Account from 20 May 2023. The Citibank Plus Account is issued by NAB and will transition to the equivalent NAB product later this year, which may mean a variation to the product features and benefits.

 

[Mattg]

I've just closed my account.

When I opened it, around a decade ago, it was a very competitive product in a market where there were few debit cards available with no international transaction or ATM fees. So, I put up with Citibank's terrible customer service in the knowledge I was saving quite a bit of money.

There are now many other products in the market that offer something similar, and without having to deal with Citibank. The latest news about Citibank planning to stop supporting these cards anyway was the final nail in the coffin.

 

[oz_mark]

I've got other NAB products, so I'll wait and see what they transition it to.

 

[EestiTiger]

It's call 86400 ubank!

But until my account is migrated to maybe 86400, my account is going to become more and more crippled, starting in a few weeks time. No one in their right mind is going to spend money on the existing Citi AU platform which will be retired in the next few years. I also have an existing account with Suncorp, which offers everything Citi offers plus 100x better customer service. So

Aren't Suncorp trying to sell their Banking arm to ANZ? I think their Credit Cards were handled by Citibank so now probably NAB too?

 

[Chicken]

Aren't Suncorp trying to sell their Banking arm to ANZ? I think their Credit Cards were handled by Citibank so now probably NAB too?

Yes, there is an agreement, but it is pending ACCC's OK, and there is a lot of doubt on the market if ACCC would let this thru, because Suncorp is the fifth largest bank and for ANZ to buy the 5th largest bank is very, well, you know.

 

[Bindibuys]

Big trip booked for May-June this year, and my Citi-Plus is the card I take for accessing cash overseas, and where I hold my holiday money. Like others may have to start looking around for alternative once we are back in Oz.

 

[Bolt]

Having said that... There's some use cases where Citibank was awesome. Take Thailand for example. Every single ATM operator there would charge you THB220 (about AUD$10) for each ATM withdrawal from a foreign operator - except Citibank.

Unless you have the ING account with all of it's gotchas, you're going to be faced with either taking large amounts of AUD cash and changing it at Superrich in Phaya Thai station, or paying huge ATM fees.

 

[MEL_Traveller]

Having said that... There's some use cases where Citibank was awesome. Take Thailand for example. Every single ATM operator there would charge you THB220 (about AUD$10) for each ATM withdrawal from a foreign operator - except Citibank.

Unless you have the ING account with all of it's gotchas, you're going to be faced with either taking large amounts of AUD cash and changing it at Superrich in Phaya Thai station, or paying huge ATM fees.

Although once they closed their branch in Silom the only place you’d get a Citi ATM was Siam I think? The cost of the BTS kinda off-set the saving (I still did it though to save a few bucks!! )

 

[PointsTraveller!]

I've just closed my account.

When I opened it, around a decade ago, it was a very competitive product in a market where there were few debit cards available with no international transaction or ATM fees. So, I put up with Citibank's terrible customer service in the knowledge I was saving quite a bit of money.

There are now many other products in the market that offer something similar, and without having to deal with Citibank. The latest news about Citibank planning to stop supporting these cards anyway was the final nail in the coffin.

What did you transition to?

 

[Bolt]

Although once they closed their branch in Silom the only place you’d get a Citi ATM was Siam I think? The cost of the BTS kinda off-set the saving (I still did it though to save a few bucks!! )

They have ATMs in Central World with all the other banks. I think it was level 4 or 6. They also have an ATM in Asok near the BTS and MRT in a small commercial centre called Interchange 21. Very convenient.

 

[yojohnny]

Having said that... There's some use cases where Citibank was awesome. Take Thailand for example. Every single ATM operator there would charge you THB220 (about AUD$10) for each ATM withdrawal from a foreign operator - except Citibank.

Unless you have the ING account with all of it's gotchas, you're going to be faced with either taking large amounts of AUD cash and changing it at Superrich in Phaya Thai station, or paying huge ATM fees.

Is this because they're Citibank ATMs or certain types of ATMs don't charge this free for the Citibank cards?

 

[Flashback]

Is this because they're Citibank ATMs or certain types of ATMs don't charge this free for the Citibank cards?

It's because they're Citibank ATMs.

 

[yojohnny]

It's because they're Citibank ATMs.

I haven't been able to find a cash withdrawl limit for international ATMs; do you happen to know what it is?

 

[Flashback]

I haven't been able to find a cash withdrawl limit for international ATMs; do you happen to know what it is?

$1,000 AUD/day in local currency. Note: you may be limited per transaction at some ATMs but just do multiple transactions.