Citibank Euro Account

Hazzanet

michaels wrote: »

They also charge 15 eur a month if you don't keep a 2k positive balance over all your accounts.

http://www.citibank.co.uk/personal/banking/international/eurocurrent.htm

citibank wrote:

No monthly account fees

I only have €180 in my current account, and they've never charged a fee.

Hazzanet

kamir wrote: »

Because Citibank are American you cant use your debit card at online gambling websites even if your are British, in the UK and want to deposit at a UK bookie! Something to do with the Patriot Act

Hmm, managed to deposit using the card at the National Lottery website without incident. Instead of showing as "Purchase" on the statement, it shows as "Citicard Withdrawal".

kamir

Must have slipped through the net either that or the lottery is different, definetly doesnt work at bookmakers

kento_2

GoonerT wrote: »

the monthly fee condition is for current accounts only. If you just want to use an ATM then the savings account is fine, I've had a dollar account for years and used it in the US to withdraw cash. It has to be from a citibank machine though in the US, not sure how it will work in europe as there arent any citibank ATMs!

I have actually just opened a euro account and didnt realise you could only have one card. How daft is that?

Citibank do have some ATMs in major european cities. I have had a Citibank account for over 10 yrs and am very satisfied. I have used my card in Citibank ATMs in Paris, there are several, and Antwerp. But I admit that for most transactions you will have to use another banks machines. Also in USA if you use their machines you get a transaction whihc appeared to be free of any charges or laoding at all.

But I admit having to allocate the one card you get to one account is a problem and has always put me off opening their euro account.

However, with the volatility of the £/€ rate whatever you gain on transaction fee you may well loose anyway by making your 'bulk exchange' into a euro account at the wrong time.

kamir

Doesn't look like you can get a debit card with the RBS account. Anyone know where i can get a Euro account with debit card other than citibank ?

Porcupine

Citibank have also now imposed a £10 charge on SEPA payments, so it's quite useless for little things (eg buying stuff from small suppliers in Germany who require a bank transfer instead of credit card)

I've heard of Halifax Spain's Current Account (www dot halifax dot es) which gives a Visa Electron card and is available to non-residents of Spain (I think it's intended for people likely to move there, but they don't mention such restrictions and they have a UK contact number). EUR600 minimum opening balance (nothing to say you can't withdraw it again straightaway).

Aha, click on the 'Halifax Transparency' tab and down the bottom are Terms and Conditions and Charges PDFs. While there are charges for everything, they aren't as silly as most currency accounts I've seen... annual charge from EUR25, plus EUR3 for debit card, 0.4% (min EUR3.60) SEPA transfer fee.

kamir

What are the rules for the 50 euro/50 dollar cashback, do you just need to put through a transaction or does it need to be in euros or even in a eurozone country ?

flortje

I have a Citibank euro account. I was absolutely delighted with the account. There is no account charge and as far as I am aware the only bank with no charge for SEPA payments to euro accounts abroad. I make regular payments to Europe so it's pretty important that it is free and can be done without going to a branch!

Today I discovered what Porcupine posted above, they now charge £10!

As far as I am aware, SEPA regulations (adopted by the UK government voluntarily although the UK is no euro country) say that a bank cannot charge more for international euro transfers than domestic euro transfers. On the continent that means £0 by default. My question is, if Citibank lets you transfer for free euros between UK (Citibank or other) euro accounts, is their new £10 charge illegal?

I am sooo fed up with these prehistoric charges that I want to put in a formal complaint and challange them. Does anyone know if I'm right or wrong????

97trophy

flortje wrote: »

I am sooo fed up with these prehistoric charges that I want to put in a formal complaint and challange them. Does anyone know if I'm right or wrong????

I think it is only free in countries that use the Euro as their currency.
So I think you are wrong.

Hazzanet

http://www.apacs.org.uk/payment_options/documents/Compliance-Guidelines-C-T-FINAL-14.07.03.pdf

Where no charge is applied domestically to a euro transaction, no charge should be applied to a corresponding cross-border transaction. If a charge is applied domestically, that charge, but no more than that charge for the corresponding payment, can be applied cross-border

As long as they offer the Domestic Euro BACS transfer free, which they do as of today's date, but offer no free cross-border Euro payment system, it is my opinion that they are in breach of the regulations.