Citi online saving transfer limits seem very restrictive

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drr1099
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Citi online saving transfer limits seem very restrictive

Post by drr1099 »

So I have some money in the Citi online savings account (they had a good rate so I signed up). Yesterday, I wanted to buy some VTI, but they have a limit of 10,000/day. Seemed annoying, but I figured, it will help me pace myself and prevent me from going all in :) Today, I tried to do another 10,000, but apparently, there is a 15,000 monthly limit. It will take me forever to get my money back. I did not have such issues with Barclay online saving account. So I told them to close my account and give me all my money back electrically. They said that they have to send me a check which will take 7 business days. They had no problem taking my money electronically, why can't they send it back to where it came from. Is this typical.
ballons
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Re: Citi online saving transfer limits seem very restrictive

Post by ballons »

Do an ACH pull directly from your brokerage when you place your buy order.
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SmileyFace
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Re: Citi online saving transfer limits seem very restrictive

Post by SmileyFace »

In the future - always read the terms and conditions before using a new bank so you won't be surprised. And make sure you are reading the terms for right account classification - Citi probably has dozens.
Prior poster had a point - if you link FROM your brokerage to do an ACH-transfer buy I don't think Citi can limit you.
Blue456
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Re: Citi online saving transfer limits seem very restrictive

Post by Blue456 »

drr1099 wrote: Wed Mar 11, 2020 2:01 pm So I have some money in the Citi online savings account (they had a good rate so I signed up). Yesterday, I wanted to buy some VTI, but they have a limit of 10,000/day. Seemed annoying, but I figured, it will help me pace myself and prevent me from going all in :) Today, I tried to do another 10,000, but apparently, there is a 15,000 monthly limit. It will take me forever to get my money back. I did not have such issues with Barclay online saving account. So I told them to close my account and give me all my money back electrically. They said that they have to send me a check which will take 7 business days. They had no problem taking my money electronically, why can't they send it back to where it came from. Is this typical.
Go with well established banks like Ally, Discover, American Express. Those have slightly lower rates but dont have such restrictions in place.
123
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Re: Citi online saving transfer limits seem very restrictive

Post by 123 »

drr1099 wrote: Wed Mar 11, 2020 2:01 pm ... I tried to do another 10,000, but apparently, there is a 15,000 monthly limit...
I think many bogleheads would find an account with these kinds of limits pretty useless.
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mega317
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Re: Citi online saving transfer limits seem very restrictive

Post by mega317 »

Blue456 wrote: Wed Mar 11, 2020 4:17 pm Go with well established banks like Ally, Discover, American Express. Those have slightly lower rates but dont have such restrictions in place.
Are Ally, Discover, and American Express more well established banks than Citi?
Blue456
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Re: Citi online saving transfer limits seem very restrictive

Post by Blue456 »

mega317 wrote: Wed Mar 11, 2020 5:41 pm
Blue456 wrote: Wed Mar 11, 2020 4:17 pm Go with well established banks like Ally, Discover, American Express. Those have slightly lower rates but dont have such restrictions in place.
Are Ally, Discover, and American Express more well established banks than Citi?
In terms of having high yield savings online yes.
HockeyFan99
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Re: Citi online saving transfer limits seem very restrictive

Post by HockeyFan99 »

I'm bumping this thread just to vent my frustration at Citi.

I obtained my mortgage through Citi and had to obtain Citi accounts to qualify for the relationship discount. Even though I'm "Citigold" I'm still running into the same transfer out limitations as the OP described, in direct contravention of their posted terms (to another snarky comment above): https://online.citi.com/US/JRS/pands/de ... =InterCiti

I am now trying to track down and escalate through customer service. Again.

The experience with Citi has been miserable throughout, on both the mortgage and banking side, and had I the opportunity to do it over again I would have paid more on the mortgage to avoid the constant stream of headaches. Lesson learned for me - posting it here in case it helps somebody else avoid making the same mistake.
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nalor511
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Re: Citi online saving transfer limits seem very restrictive

Post by nalor511 »

Learn the lesson, don't bank with citi
inverter
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Re: Citi online saving transfer limits seem very restrictive

Post by inverter »

Citi is really the worst... I was a consultant for them for a couple of months.

You should be able to do an ACH pull transfer (initiated at VG) or a wire transfer (they should waive the fee for Citigold).
Seal the Deal
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Re: Citi online saving transfer limits seem very restrictive

Post by Seal the Deal »

Several months ago I signed up for Citi checking/savings accounts for myself and wife to get a $400 bonus (x2). Within the last week I finally met the bonus requirements so I transferred the money out. Took an entire week to get 15k out of each savings account using three separate transactions. Also had to re-link my external transfer account which I had used to deposit the money in the first place. There was no option to close the account online, only phone or chat. Chat wasn't working on the computer so had to download the app and close the accounts by chatting on my phone which took another half hour. Quite the hassle for $800 bonus money, but in terms of $/hr still worth it.
EZ James
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Re: Citi online saving transfer limits seem very restrictive

Post by EZ James »

Last week I tried to push 50k from Citi to NFCU...no workie. Then I tried to pull 50k from Citi to NFCU...no workie.

So I wrote a Citi paper check to NFCU and stuffed it in NFCU via mobile phone deposit. Worked like a champ!
SnowBog
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

EZ James wrote: Tue Dec 01, 2020 10:01 pm Last week I tried to push 50k from Citi to NFCU...no workie. Then I tried to pull 50k from Citi to NFCU...no workie.

So I wrote a Citi paper check to NFCU and stuffed it in NFCU via mobile phone deposit. Worked like a champ!
If you emptied your Citi account, don't forget to close it before they start charging you fees...

Like OP, ran into this problem a year or so ago. Luckily it was still fairly new to me, and didn't have a lot in the account. But the limit on transfer was a deal breaker for me when I discovered it. Luckily it only took me a few weeks (over a month change) to get the money out.

But Citi bit me again when they started charging me for not meeting their minimum balance. I don't recall ever being charged by any other bank (but I don't switch that often). I'd expected them to merely close the account (as others have done), instead of ending up with a negative balance. Quick call later, account closed...

This also caused my to quit using my Citi Double Cash credit card. Switched to Fidelity 2% instead. Don't plan on giving Citi any new business...
EZ James
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Re: Citi online saving transfer limits seem very restrictive

Post by EZ James »

Snowbog: I did not empty my account but this account has no fees and no minimum balance requirement. But you made a good point that may benefit others.

I want to continue with Citi because I have a safe deposit box there and it's within walking distance.

Another reason I've stayed with them is they were willing to provide witnesses for signing a will. That may not be true now because they have a skeleton crew...just a manager and a couple others.
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

EZ James wrote: Tue Dec 01, 2020 10:39 pm Snowbog: I did not empty my account but this account has no fees and no minimum balance requirement. But you made a good point that may benefit others.

I want to continue with Citi because I have a safe deposit box there and it's within walking distance.

Another reason I've stayed with them is they were willing to provide witnesses for signing a will. That may not be true now because they have a skeleton crew...just a manager and a couple others.
I can understand.

I keep a small amount at a "local" bank. Their rates are atrocious, but it's nice to walk in and deposit change or do other things that need a "human" touch.
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ThereAreNoGurus
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Re: Citi online saving transfer limits seem very restrictive

Post by ThereAreNoGurus »

EZ James wrote: Tue Dec 01, 2020 10:01 pm Last week I tried to push 50k from Citi to NFCU...no workie. Then I tried to pull 50k from Citi to NFCU...no workie.

So I wrote a Citi paper check to NFCU and stuffed it in NFCU via mobile phone deposit. Worked like a champ!
Clever! Just checked my credit union's FAQ about mobile app deposits and it says: "Most accounts are subject to a $5,000 daily maximum." I need to find out the exceptions to "most."
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Re: Citi online saving transfer limits seem very restrictive

Post by beyou »

Citi is the worst, never get a cc from them either.
None of usual cc perks (auto rental insurance, buyer protection), unreliable website, bad customer service. No reason to use them.
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ThereAreNoGurus
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Re: Citi online saving transfer limits seem very restrictive

Post by ThereAreNoGurus »

beyou wrote: Wed Dec 02, 2020 12:21 am Citi is the worst, never get a cc from them either.
None of usual cc perks (auto rental insurance, buyer protection), unreliable website, bad customer service. No reason to use them.
LOL... Yeah, their website sucks. I've been with Citi for years, unfortunately, after the S&L I was with was absorbed by them.

Citi must be getting much negative feedback because the web and mobile app interfaces keep changing. Still buggy and still crappy.
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beyou
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Re: Citi online saving transfer limits seem very restrictive

Post by beyou »

ThereAreNoGurus wrote: Wed Dec 02, 2020 1:14 am
beyou wrote: Wed Dec 02, 2020 12:21 am Citi is the worst, never get a cc from them either.
None of usual cc perks (auto rental insurance, buyer protection), unreliable website, bad customer service. No reason to use them.
LOL... Yeah, their website sucks. I've been with Citi for years, unfortunately, after the S&L I was with was absorbed by them.

Citi must be getting much negative feedback because the web and mobile app interfaces keep changing. Still buggy and still crappy.
They used to be the most technologically advanced bank many years ago. I have checking and cc because many years ago I worked there, got some minor perks. In the 70s-90s run by an MIT grad who made sure they were early adopters of latest tech and it worked. But he was forced out after a merger with Travelers that created Citigroup. It was all downhill after that. I was doing online bill pay in the mid 90s there, and recall the earliest touch screen ATM were from Citibank. No more, now Citi online bill pay I find less friendly than any other I use. The only good thing I can say about their tech is I like their online security. Can enable 2FA using your ATM pin as 2nd factor for withdrawals such as bill pay.
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ThereAreNoGurus
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Re: Citi online saving transfer limits seem very restrictive

Post by ThereAreNoGurus »

beyou wrote: Wed Dec 02, 2020 7:02 am
ThereAreNoGurus wrote: Wed Dec 02, 2020 1:14 am
beyou wrote: Wed Dec 02, 2020 12:21 am Citi is the worst, never get a cc from them either.
None of usual cc perks (auto rental insurance, buyer protection), unreliable website, bad customer service. No reason to use them.
LOL... Yeah, their website sucks. I've been with Citi for years, unfortunately, after the S&L I was with was absorbed by them.

Citi must be getting much negative feedback because the web and mobile app interfaces keep changing. Still buggy and still crappy.
They used to be the most technologically advanced bank many years ago. I have checking and cc because many years ago I worked there, got some minor perks. In the 70s-90s run by an MIT grad who made sure they were early adopters of latest tech and it worked. But he was forced out after a merger with Travelers that created Citigroup. It was all downhill after that. I was doing online bill pay in the mid 90s there, and recall the earliest touch screen ATM were from Citibank. No more, now Citi online bill pay I find less friendly than any other I use. The only good thing I can say about their tech is I like their online security. Can enable 2FA using your ATM pin as 2nd factor for withdrawals such as bill pay.
Thx for that background. It's amazing/sad how big a difference incompetent management makes.

As I'm typing this I'm trying to log into my Citi mobile app and the busy icon just keeps circling. Just cancelled. Tried again and got in. Happens a lot with the Citi app.
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SnowBog
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

ThereAreNoGurus wrote: Wed Dec 02, 2020 1:43 pm
beyou wrote: Wed Dec 02, 2020 7:02 am
ThereAreNoGurus wrote: Wed Dec 02, 2020 1:14 am
beyou wrote: Wed Dec 02, 2020 12:21 am Citi is the worst, never get a cc from them either.
None of usual cc perks (auto rental insurance, buyer protection), unreliable website, bad customer service. No reason to use them.
LOL... Yeah, their website sucks. I've been with Citi for years, unfortunately, after the S&L I was with was absorbed by them.

Citi must be getting much negative feedback because the web and mobile app interfaces keep changing. Still buggy and still crappy.
They used to be the most technologically advanced bank many years ago. I have checking and cc because many years ago I worked there, got some minor perks. In the 70s-90s run by an MIT grad who made sure they were early adopters of latest tech and it worked. But he was forced out after a merger with Travelers that created Citigroup. It was all downhill after that. I was doing online bill pay in the mid 90s there, and recall the earliest touch screen ATM were from Citibank. No more, now Citi online bill pay I find less friendly than any other I use. The only good thing I can say about their tech is I like their online security. Can enable 2FA using your ATM pin as 2nd factor for withdrawals such as bill pay.
Thx for that background. It's amazing/sad how big a difference incompetent management makes.

As I'm typing this I'm trying to log into my Citi mobile app and the busy icon just keeps circling. Just cancelled. Tried again and got in. Happens a lot with the Citi app.
After I had my savings account closed, it broke the mobile app completely, I could not login to check on my CC.

Ended up having to create a NEW account and move my CC under that account. I've since all but quit using my Citi CC (have one recurring transaction that's too much of a hassle to change). But they won't get any new business from me...
Last edited by SnowBog on Wed Dec 02, 2020 7:20 pm, edited 1 time in total.
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ThereAreNoGurus
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Re: Citi online saving transfer limits seem very restrictive

Post by ThereAreNoGurus »

SnowBog wrote: Wed Dec 02, 2020 4:56 pm
After I had my savings account closed, it broke the mobile app completely, I could not login to check on my CC.

Ended up having to create a NEW account and move my CC under that account. I've since all but quit using my Citi CC (have one recurring transaction that's too much of a hassle to change). But they went get any new business from me...
Another example of great programming.

I would leave Citi but, similar to you, I'm just not motivated enough (lazy, in my case) to move everything. I've got several automated deposits, and a safe deposit box. Not really sure I need the box, forgot what's in it.

Fidelity's Cash Management looks enticing.
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SnowBog
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

ThereAreNoGurus wrote: Wed Dec 02, 2020 5:15 pm I would leave Citi but, similar to you, I'm just not motivated enough (lazy, in my case) to move everything. I've got several automated deposits, and a safe deposit box. Not really sure I need the box, forgot what's in it.

Fidelity's Cash Management looks enticing.
If they are your "local" bank, not sure I'd leave completely either... I still have an account and old CC that is almost never used (just enough to keep it active) at my "local" bank.

But I've been very happy with Fidelity's Cash Management account. Prior to COVID, some of their money market funds (which you can use to hold your "cash", and they'll sell as needed to cover expenses) had reasonable interest rates, enough that I consolidated money out of "high yield savings" accounts into my Fidelity accounts. (Unfortunately, I've done the opposite the last several months - as some banks/credit unions still have much higher rates than Fidelity's money markets.)

But its nice having Fidelity as an almost one stop shop, with my "checking" and "savings" (aka Cash Management accounts) as well as my/spouse Roth's, tIRA, my 401k, soon to be HSA [plan on moving funds early next year], 529, UTMA, taxable, etc. Having automatic deposits makes it easy to move money where I need/want it between all my accounts in the same place...

Their [technically Elan's] credit card pays 2%, which can be directed as "cash" into any of your accounts (initially had it going to 529 until I decided to front-load that each year). And maybe other banks do it too - but after years of begrudgingly paying ATM fees - I still smile each time Fidelity reimburses me whatever fee some ATM charged me...
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Re: Citi online saving transfer limits seem very restrictive

Post by Dmanse02 »

I am glad to see I am not the only displeased customer. I signed up for their priority banking package during a promotion to receive a sign-up and deposit bonus. Followed all the fine print. Have contacted customer service several times looking for the bonus now that it has come due. They come up with an inaccurate excuse not to pay every time, i.e. trying to say I did not deposit the funds on time when I clearly did and with plenty of cushion. I am ready to close all accounts with citi. I have had their double cash back card for several years as my main spending card, but there are other similar options available now.
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ThereAreNoGurus
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Re: Citi online saving transfer limits seem very restrictive

Post by ThereAreNoGurus »

SnowBog wrote: Wed Dec 02, 2020 7:31 pm
ThereAreNoGurus wrote: Wed Dec 02, 2020 5:15 pm I would leave Citi but, similar to you, I'm just not motivated enough (lazy, in my case) to move everything. I've got several automated deposits, and a safe deposit box. Not really sure I need the box, forgot what's in it.

Fidelity's Cash Management looks enticing.
If they are your "local" bank, not sure I'd leave completely either... I still have an account and old CC that is almost never used (just enough to keep it active) at my "local" bank.
. . .
Their [technically Elan's] credit card pays 2%, which can be directed as "cash" into any of your accounts (initially had it going to 529 until I decided to front-load that each year). And maybe other banks do it too - but after years of begrudgingly paying ATM fees - I still smile each time Fidelity reimburses me whatever fee some ATM charged me...
Yes, having them as a local bank has its advantages. I have a credit union locally as well.

I like the ATM fee reimbursement you mentioned. When overseas, my Schwab debit card and my credit union's credit card are transaction free overseas.

But having that all under one roof appeals to me as well, so one of these days I'll probably open a Fidelity CM account. I'd have to unfreeze my credit with the three agencies which is another reason I've been slow to move. Lazy, lazy. :wink:
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ThereAreNoGurus
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Re: Citi online saving transfer limits seem very restrictive

Post by ThereAreNoGurus »

Dmanse02 wrote: Wed Dec 02, 2020 7:41 pm I am glad to see I am not the only displeased customer. I signed up for their priority banking package during a promotion to receive a sign-up and deposit bonus. Followed all the fine print. Have contacted customer service several times looking for the bonus now that it has come due. They come up with an inaccurate excuse not to pay every time, i.e. trying to say I did not deposit the funds on time when I clearly did and with plenty of cushion. I am ready to close all accounts with citi. I have had their double cash back card for several years as my main spending card, but there are other similar options available now.
I'm Citi Priority. Sorry to hear you're having trouble. Seems like Citi is getting worse and worse.

I was Citi "Gold" but they raised the threshold... so I was downgraded... haha.

I've had the double cash back card as well, since it came out. But as you say, other places these days have similar offers.
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Dmanse02
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Re: Citi online saving transfer limits seem very restrictive

Post by Dmanse02 »

ThereAreNoGurus wrote: Wed Dec 02, 2020 11:44 pm
Dmanse02 wrote: Wed Dec 02, 2020 7:41 pm I am glad to see I am not the only displeased customer. I signed up for their priority banking package during a promotion to receive a sign-up and deposit bonus. Followed all the fine print. Have contacted customer service several times looking for the bonus now that it has come due. They come up with an inaccurate excuse not to pay every time, i.e. trying to say I did not deposit the funds on time when I clearly did and with plenty of cushion. I am ready to close all accounts with citi. I have had their double cash back card for several years as my main spending card, but there are other similar options available now.
I'm Citi Priority. Sorry to hear you're having trouble. Seems like Citi is getting worse and worse.

I was Citi "Gold" but they raised the threshold... so I was downgraded... haha.

I've had the double cash back card as well, since it came out. But as you say, other places these days have similar offers.
Thought I would follow-up on this. I think I finally received adequate explanation on what happened - some time later, I had also received an email for a promotion for my citi double cash card to get an extra 0.5% cashback. Clicked on the link because why not get the extra 0.5%, and I certainly did not think they would be related. However, apparently you can only be enrolled in 1 promotion at a time under the same institution, so this kicked me out of the sign-up bonus promotion. Rookie mistake on my part I suppose; live and learn. Cleverly done by Citi.
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Re: Citi online saving transfer limits seem very restrictive

Post by whodidntante »

Once you accept that Citi is the worst bank in the world, your experience will have critical context and you will avoid needless frustration. But they do have good bonuses, so I continue to do business with the worst bank in the world. I just don't expect to be impressed about anything they do, ever.
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Re: Citi online saving transfer limits seem very restrictive

Post by supalong52 »

Just piling on here with our disappointment with Citi. Had a private banking account through my law firm and they were decent. We opened a new account for our trust and they bumped me to a normal account after they found out I had changed firms. That's understandable, but that's when the trouble started. Even though the balance across both accounts was much higher than the threshold, they started charging fees because one of the accounts had fallen to zero following the transfer. They refused to waive.

Also, their PPP rollout was awful, especially for sole proprietors. They didn't start accepting applications until the money was basically gone. And even after they started, they refused to take applications from people who didn't have business checking accounts, e.g., sole proprietors who just banked out of a personal checking account. It turns out we did fine during the pandemic so we didn't end up applying elsewhere, e.g., through PayPal. Felt wrong, and in hindsight would have felt like theft given the performance of our portfolio this year.

Then I tried to cancel our safe deposit box, which is empty and 400 miles away. They said we couldn't mail them a key and a release form. We had to go in person. Still haven't done that yet in light of Covid. They also closed the main branch office where our box is located in March and haven't reopened since. You have to go to a different branch where they supposedly will drive over to allow you to access the box.

Just a bad overall experience. Our new checking account is with Schwab. They have a trust product that combines the convenience of a checking account with the flexibility of a brokerage account.
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Re: Citi online saving transfer limits seem very restrictive

Post by oilrig »

Dmanse02 wrote: Wed Dec 02, 2020 7:41 pm I am glad to see I am not the only displeased customer. I signed up for their priority banking package during a promotion to receive a sign-up and deposit bonus. Followed all the fine print. Have contacted customer service several times looking for the bonus now that it has come due. They come up with an inaccurate excuse not to pay every time, i.e. trying to say I did not deposit the funds on time when I clearly did and with plenty of cushion. I am ready to close all accounts with citi. I have had their double cash back card for several years as my main spending card, but there are other similar options available now.
This same thing happened to me last year. I opened up an account to take advantage of the $400-500 bonus they were offering. Their transfer limits basically made it impossible for me to transfer all of the required money in a timely manner. I had to break it up into 2 or 3 different deposits which took some time. Also, I think it took a while to get the account approved and opened.

Long story short they told me I missed the deadline to receive the bonus by ONE DAY. I explained my case to the Citi rep saying that they made it impossible for me to do everything in time. She didnt care at all lol. Also, closing the account and trying to get my money back was another ordeal.

Never again!
Pete3
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Re: Citi online saving transfer limits seem very restrictive

Post by Pete3 »

As long as we are piling on Citibank, not sure if this is only me but when I login I started getting this message recently:

"Effectively immediately, as a security measure to protect Citibank accounts, the limits for the next day Inter Institutional Transfer service have been lowered to $50 until further notice. You can continue using the standard service to send IITs for amounts greater than $50."

$50 transfer limit is effectively the same as nothing for me - why don't they just say they are disabling the service for now. So weak.
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gwe67
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Re: Citi online saving transfer limits seem very restrictive

Post by gwe67 »

You played with snakes and got bit. Just for a sign-up bonus?
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tibbitts
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Re: Citi online saving transfer limits seem very restrictive

Post by tibbitts »

gwe67 wrote: Thu Dec 17, 2020 10:24 am You played with snakes and got bit. Just for a sign-up bonus?
I don't think it's intuitively obvious that Citi is more or less of a "snake" than any other financial institution. I had a good experience with my last Citi high-yield savings account, but then I had a local branch, and that was before the era of internet banking. I had considered doing the $400 bonus for $15k, but it sounds like it might not be worth the effort for the possibility of something(s) going wrong. However on the surface of it the bonus is simpler than almost any competitor, due to its lack of debit card or other transaction requirements. I almost always ignore those offers as being too complicated.

There is no product directly comparable to the 2% Citi card currently available that I'm aware of, so I'll be keeping that. So far I haven't had any trouble with it, although the recent reduction in benefits is annoying.
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

tibbitts wrote: Thu Dec 17, 2020 10:31 am There is no product directly comparable to the 2% Citi card currently available that I'm aware of, so I'll be keeping that. So far I haven't had any trouble with it, although the recent reduction in benefits is annoying.
Check out Fidelity's credit card - 2% on everything. It's what I switched to at my primary card instead of Citi's 2% card.
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Re: Citi online saving transfer limits seem very restrictive

Post by tibbitts »

SnowBog wrote: Thu Dec 17, 2020 12:21 pm
tibbitts wrote: Thu Dec 17, 2020 10:31 am There is no product directly comparable to the 2% Citi card currently available that I'm aware of, so I'll be keeping that. So far I haven't had any trouble with it, although the recent reduction in benefits is annoying.
Check out Fidelity's credit card - 2% on everything. It's what I switched to at my primary card instead of Citi's 2% card.
The Citi card lets me directly deposit cash rewards to my Chase bank account. With Fidelity my understanding is that I would have to open a Fidelity taxable account (my only Fidelity accounts are IRAs and I'm not qualified to contribute to them. So it would be yet another account, not the worst thing, just annoying.
SnowBog
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

tibbitts wrote: Thu Dec 17, 2020 7:18 pm
SnowBog wrote: Thu Dec 17, 2020 12:21 pm
tibbitts wrote: Thu Dec 17, 2020 10:31 am There is no product directly comparable to the 2% Citi card currently available that I'm aware of, so I'll be keeping that. So far I haven't had any trouble with it, although the recent reduction in benefits is annoying.
Check out Fidelity's credit card - 2% on everything. It's what I switched to at my primary card instead of Citi's 2% card.
The Citi card lets me directly deposit cash rewards to my Chase bank account. With Fidelity my understanding is that I would have to open a Fidelity taxable account (my only Fidelity accounts are IRAs and I'm not qualified to contribute to them. So it would be yet another account, not the worst thing, just annoying.
I moved my "checking" and "saving" accounts to Fidelity Cash Management Accounts. By far, my favorite is the no fee ATM (reimburses fees ATMs might charge).

You can also opt to use money market funds for higher returns than the default "core" fund. Pre-COVID these had great rates, and I didn't bother with "high yield savings accounts". But with rates so low, I did end up moving money back until a "high yield" savings account.

Cash back CC can be directed to any account, I drop mine into "checking".
tibbitts
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Re: Citi online saving transfer limits seem very restrictive

Post by tibbitts »

Revisiting this topic after a year...

Does anyone have recent experience doing an ACH out of Citi Checking for up to $50k, where the ACH is generated as a pull from an external bank (vs. the $10k limit for outbound ACH generated at Citi.) I was somewhat surprised back when I read earlier in the thread that an externally-generated ACH withdrawal request was apparently denied by Citi, since I thought that was more or less the same as writing a paper check to yourself and depositing it.
SnowBog
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

I remember having issues with citi "savings" accounts, specifically with transfers and limits.

Normally I try to "push/pull" from an external bank like Fidelity to avoid any "internal" limits (like within Citi's app/service). So I'd imagine that's what I tried... But it's been so long I don't remember the details.

I do recall it took a long time to get my money out (recall being limited by something like $2-$3k/day max), so had to setup reoccurring transfers over several days. That was the "straw" that made me pull all my money out from Citi.

And I remember that they ended up charging me a fee to have the account when the balance was $0, so I terminated the account with their support, which broke the login to the Citi Double Cash card and made me recreate my account.

In short, I'm not a Citi fan, and don't plan on getting anything else from them in the foreseeable future...
safari
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Re: Citi online saving transfer limits seem very restrictive

Post by safari »

Citi must be the worst in terms of customer service and online banking out of all the major banks. I recently opened a new Priority checking account to take advantage of the $700 bonus on $50K+ deposit. I had an existing online banking account with them for 2 credit cards, which I've used for many years. I was expecting that my new checking account will automatically appear in my online account, which is usually the case with other banks. However, it did not happen automatically, so after I contacted customer service via chat, they told me that I have to link my account manually. I tried doing that, but got an error every time. I had to call customer service and was told that they linked the account for me, but I still couldn't see it online. The agent told me there was nothing else he could do from his side, so he transferred me to another department. I had to explain everything to another agent, who couldn't help me either and transferred me yet again. After talking to two more people, they finally told me that because my online account was created for a credit card, they couldn't add a checking account to it, and the only way to have all accounts linked together was for them to disable my online account and then I'd have to create a brand new online account for the checking account and link my credit cards to it. So they did that, but when I tried to create a new account, it asked for the ATM card number and PIN, which I haven't received yet because I just opened this checking account a day ago. I was extremely frustrated because I now lost online access to my credit cards and had to wait another week for the ATM card to arrive. They overnighted the ATM card to me, so I tried again once I had the ATM card in hand. I hadn't received the pin, so I had to waste another 30 minutes on the phone with Citi to reset my pin, just so I could register for an online account. Overall I probably spent 2 hours on this. I have no plans to use this checking account, and will be promptly closing it after I get my bonus. I now expect that once I close my checking account, my online account will get disabled, and I will have to create a brand new account for the Citi credit cards. Ugh!
SnowBog
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

safari wrote: Mon Dec 06, 2021 4:34 pm I now expect that once I close my checking account, my online account will get disabled, and I will have to create a brand new account for the Citi credit cards. Ugh!
Sadly, that was my experience... I was hoping mine was an exception, but I guess maybe not...
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SquawkIdent
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Re: Citi online saving transfer limits seem very restrictive

Post by SquawkIdent »

123 wrote: Wed Mar 11, 2020 4:22 pm
drr1099 wrote: Wed Mar 11, 2020 2:01 pm ... I tried to do another 10,000, but apparently, there is a 15,000 monthly limit...
I think many bogleheads would find an account with these kinds of limits pretty useless.
+1

…completely useless… :sharebeer
cantabtim
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Re: Citi online saving transfer limits seem very restrictive

Post by cantabtim »

I opened a Citi "AAdvantage Platinum Select" card earlier in the year. They offered to extend existing AAdvantage status for another year if you spent $15,000 within 3 months. As I am Exec Plat/OW Emerald status but had been grounded for a year by the pandemic and about to lose the status, that sounded like a good deal - Emerald gets you premium lounge access for International flights (great lounges in London and Madrid for example, both of which I use frequently) and having recently retired there was no way I was going to retain the status through traveling.

We were in Spain and England from June through September and I put my mind to getting as much of our spending as possible through that card. Surprise, surprise a so called "travel" card (no fees on international purchases proudly advertised) is actually one of the most useless cards when overseas. It's constantly refused by non-US websites and ticket machines (Renfe in Spain, ALSA in Spain, rail companies in the UK) that cheerfully accept my other cards (issued by Capital One or my local bank). On one occasion when the web site for the city bus company in Valencia declined the card for a 10 Euro 'packet' of electronic tickets I took the trouble to livechat with Citi. They told me it was "suspicious" and I needed to call them in advance for purchases like that. For 10 Euros !!!!!! They must be nuts.

There's a whole world out there Citi, and you need to catch up with your competitors and allow people to use your products there. Travel doesn't just mean the NY Subway to Queens.....
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anon_investor
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Re: Citi online saving transfer limits seem very restrictive

Post by anon_investor »

cantabtim wrote: Mon Dec 06, 2021 5:56 pm I opened a Citi "AAdvantage Platinum Select" card earlier in the year. They offered to extend existing AAdvantage status for another year if you spent $15,000 within 3 months. As I am Exec Plat/OW Emerald status but had been grounded for a year by the pandemic and about to lose the status, that sounded like a good deal - Emerald gets you premium lounge access for International flights (great lounges in London and Madrid for example, both of which I use frequently) and having recently retired there was no way I was going to retain the status through traveling.

We were in Spain and England from June through September and I put my mind to getting as much of our spending as possible through that card. Surprise, surprise a so called "travel" card (no fees on international purchases proudly advertised) is actually one of the most useless cards when overseas. It's constantly refused by non-US websites and ticket machines (Renfe in Spain, ALSA in Spain, rail companies in the UK) that cheerfully accept my other cards (issued by Capital One or my local bank). On one occasion when the web site for the city bus company in Valencia declined the card for a 10 Euro 'packet' of electronic tickets I took the trouble to livechat with Citi. They told me it was "suspicious" and I needed to call them in advance for purchases like that. For 10 Euros !!!!!! They must be nuts.

There's a whole world out there Citi, and you need to catch up with your competitors and allow people to use your products there. Travel doesn't just mean the NY Subway to Queens.....
There is another thread that someone start complaining about another Citi card that was denied at a local normally used grocery store. It sounds like Citi CCs are not very good.
SnowBog
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Re: Citi online saving transfer limits seem very restrictive

Post by SnowBog »

anon_investor wrote: Mon Dec 06, 2021 6:40 pm There is another thread that someone start complaining about another Citi card that was denied at a local normally used grocery store. It sounds like Citi CCs are not very good.
While I'm not a fan of Citi, and have no plans of getting any more products/services from them...

I must admit, I never had any issues with the Citi Double Cash Back card. That was our default card for awhile before we switched to Fidelity 2%. But then again, I never tried to use it overseas...
chazas
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Re: Citi online saving transfer limits seem very restrictive

Post by chazas »

inverter wrote: Tue Dec 01, 2020 8:46 pm Citi is really the worst... I was a consultant for them for a couple of months.

You should be able to do an ACH pull transfer (initiated at VG) or a wire transfer (they should waive the fee for Citigold).
This. I do pulls from my Fidelity account. They are credited sufficiently to trade immediately.

I make free wire transfers to my T-Mobile Money account. All done online and they credit with a couple of hours.
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anon_investor
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Re: Citi online saving transfer limits seem very restrictive

Post by anon_investor »

SnowBog wrote: Mon Dec 06, 2021 7:30 pm
anon_investor wrote: Mon Dec 06, 2021 6:40 pm There is another thread that someone start complaining about another Citi card that was denied at a local normally used grocery store. It sounds like Citi CCs are not very good.
While I'm not a fan of Citi, and have no plans of getting any more products/services from them...

I must admit, I never had any issues with the Citi Double Cash Back card. That was our default card for awhile before we switched to Fidelity 2%. But then again, I never tried to use it overseas...
We never had any issues using our Citi Costco Visa, but we never tried abroad and we had some fraudulent charges on it before, supposed used at a bar 700 miles away that we had never been to, even though we still had the card in our possession the whole time.
tibbitts
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Re: Citi online saving transfer limits seem very restrictive

Post by tibbitts »

chazas wrote: Mon Dec 06, 2021 8:09 pm
inverter wrote: Tue Dec 01, 2020 8:46 pm Citi is really the worst... I was a consultant for them for a couple of months.

You should be able to do an ACH pull transfer (initiated at VG) or a wire transfer (they should waive the fee for Citigold).
This. I do pulls from my Fidelity account. They are credited sufficiently to trade immediately.

I make free wire transfers to my T-Mobile Money account. All done online and they credit with a couple of hours.
I don't have Gold, but I initiated a regular ACH request from Ally to pull somewhat under $50k from Citi today. It turned out I was a few minutes late to have the process actually start today, so if it works the funds should arrive at Ally on Thursday. So I should know by then if the request succeeds.
PatrickA5
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Re: Citi online saving transfer limits seem very restrictive

Post by PatrickA5 »

I've been waiting on my $400 bonus (x2) for depositing $15K in a new checking account. I don't know that I'll ever get it. I've transferred all but the $1,500 needed to avoid fees out. I'll give it another month or two and then close the account and all 3 of my Citi credit cards and never do business with Citi again.
safari
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Re: Citi online saving transfer limits seem very restrictive

Post by safari »

PatrickA5 wrote: Tue Dec 07, 2021 3:43 pm I've been waiting on my $400 bonus (x2) for depositing $15K in a new checking account. I don't know that I'll ever get it. I've transferred all but the $1,500 needed to avoid fees out. I'll give it another month or two and then close the account and all 3 of my Citi credit cards and never do business with Citi again.
How long has it been already? I think in the fine print it says that one has to maintain the the minimum daily balance (in your case $15K) for 60 days, but they start counting those 60 days on the 21st day after the account is opened, and then the bonus is paid out 90 days after you meet your eligibility requirements. So overall it takes about 6 months from opening the account to get the bonus.
PatrickA5
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Re: Citi online saving transfer limits seem very restrictive

Post by PatrickA5 »

safari wrote: Tue Dec 07, 2021 3:56 pm
PatrickA5 wrote: Tue Dec 07, 2021 3:43 pm I've been waiting on my $400 bonus (x2) for depositing $15K in a new checking account. I don't know that I'll ever get it. I've transferred all but the $1,500 needed to avoid fees out. I'll give it another month or two and then close the account and all 3 of my Citi credit cards and never do business with Citi again.
How long has it been already? I think in the fine print it says that one has to maintain the the minimum daily balance (in your case $15K) for 60 days, but they start counting those 60 days on the 21st day after the account is opened, and then the bonus is paid out 90 days after you meet your eligibility requirements. So overall it takes about 6 months from opening the account to get the bonus.
The $15K has been in the account 130 days, so I'm well past the time needed for the money to be in the account - thus I'm taking it out. I have another month and a half before they are technically late in posting the bonus. I've read several comments on Doctor of Credit of people that funded the same time I did and got their bonus mid-November. I'll leave the account open until the 6 months is over and make a phone call and then move the rest out. We'll see.
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