Egg customers open a Citibank € or $ a/c and get free money!

Dagobert

Anon wrote:

Anyone gone for this?

I have opened a € account. I will be visiting Europe shortly and will have access to Citibank ATMs.
I will probably fund the Citibank account from a [foreign] € account so I won't pay for currency conversion either.

The Citibank € account has the same sort code as £ Citibank accounts. I am not sure whether BACS transfers to the Citibank € account from other UK banks are free of charge. But as far as I understand transfers from Citibank £ accounts are free of charge. Presumably, a Citibank savings account would do.

They issue a VISA debit card for the € current account. If you already have a Citibank account, they will lock whatever cash/debit card you already have. Apparently, you can only have one Citibank card at any one time, so I have been told. I am not quite sure how you are supposed to work both a Citibank £ and € current account if you have both.

Dagobert

Indeed, you can only have one card regardless how many Citibank accounts you have because Citibank assumes their customers to be too dumb to cope with more than one PIN:

Citibank has introduced the one card policy, where customers will only receive one card, irrespective of the number of accounts they hold with us. This is the result of feedback from most of our customers who had problems with retaining records of various Pins for each card. ... The one card policy has been introduced keeping in mind the high standards that customers such as you have come to expect of Citibank.

What the hell is someone who uses a Citibank Sterling account as their main current account to do with a Euro account if you can't operate both of them simultaneously?

michaels

The way it works (and I have one) is that you call CS (can't do it online) and tell them which a/c you want the card to link to and then all transactions go to that account and that currency - annoying when you get back to the uk and unthinkingly draw cash before switching the card back and find you have been charged currency conversion charges for drawing gbp from your eur/usd account

Dagobert

michaels wrote:

The way it works is that you call CS and tell them which a/c you want the card to link to

Thanks for confirming this. What a stupid system! If you want to make an online purchase in the other currency you have to phone to switch card.


Is there a charge for moving money between a Citibank £ and € account?

fergual2

Is there a charge for moving money between a Citibank £ and € account?

No charge just the banks fx exchange rate applied.

Btw Dagobert you say "quote from Egg." Did you contact them about the offer? Any other info to share?

Again not sure how the offer gets applied - on citi site no mention of rebate is mentioned anywhere. Who do you contact if rebate not given on 31 Dec Egg or Citi?

Al

Dagobert

fergual2 wrote: »

Dagobert you say "quote from Egg." Did you contact them about the offer? Any other info to share?

I contacted Egg via secure message. The reply was from Egg.

fergual2 wrote: »

Again not sure how the offer gets applied - on citi site no mention of rebate is mentioned anywhere. Who do you contact if rebate not given on 31 Dec Egg or Citi?

I would contact Egg in this case as this is where the offer was advertised. I have a screenshot of the offer.

chris_o

Very interesting. The Citi $ account has always been useful if you have a lot of $ transactions. My other half does and she has had a Citi $ account for some time. I have fewer overseas transactions and had always been put off by the requirement to have £2000 funds "across your Citibank relationship" otherwise you would get charged a monthly fee for the overseas currency account. And the Citibank savings products didn't pay very good interest rates. I haven't scoured the T & C but it seems they have now dropped that requirement. And, in any event, their Flexible Saver Account is currently paying a fairly decent 6.43% AER. So it looks like this could be a winner for me.

chris_o

Oh, in case you are thinking of opening a Citibank Flexible Saver account as well, make sure you do that first as the 6.43% AER is only for new Citibank customers. Although there is a Reward Saver Account for existing customers paying a not so good 6.35% AER, you don't get paid interest in any month when you make a withdrawal.

chris_o

chris_o wrote: »

Reward Saver Account for existing customers paying a not so good 6.35% AER.

Actually 6.35% gross, 6.15% AER (interest paid monthly). My mistake.

michaels

Does anyone know if a cheque purchase counts as 'spend' to trigger this offer?