Citibank - Flexible Saver Issue 6 - paying 3.25% (3.30% AER)

gunjin

OneADay wrote: »

It functions for the purpose its intended to.

Limited functionality - 1 way transfers means you can make payments to other accounts. If you want to credit the account, you need to do that from the account you are paying from.

FAQ page - there is a Help for this Page link on the left. There is a Contact Us link to ask for online help.

Personally I find this more than adequate for a savings account. I would imagine a current account to have different functionality.

At the end of the day, it saves my money and pays me interest - all I want.

The problem is that none of this is intuitive and help is neither easy to find nor does it provide adequate explanations. It is almost as if they have never done any user testing or learnt from a decade of online banking mistakes. For one of the largest banks in the world and in 2009 that is inexcusable IMO. I was going to suggest that my father take advantage of the good rates and open a savings account but i think he would get lost and very frustrated with it.

KiwiCoop

I have given up after two days of trying to activate my account and am now taking my money elsewhere. I would stick with the ING account I opened a couple of years ago but of course they only give new customers the good rates - I thought I'd ring them to ask about that but of course that's an 0845 number (0800 numbers only for new customers...).

Where are all you MSE members miffed at Citibank now putting your hard-earned?

Baldur

KiwiCoop wrote: »

I have given up after two days of trying to activate my account and am now taking my money elsewhere. I would stick with the ING account I opened a couple of years ago but of course they only give new customers the good rates - I thought I'd ring them to ask about that but of course that's an 0845 number (0800 numbers only for new customers...).

From previous posts in these forums, you can close your ING account and reapply as a 'new customer' a few days later (from memory 3 days?)

PurpleBox

Is interest paid monthly or yearly?

Baldur

PurpleBox wrote: »

Is interest paid monthly or yearly?

If you mean the Citibank account, see http://www.citibank.co.uk/personal/banking/saveinvest/saving/fsaver/legal.htm?merchant=citi

Interest is paid on balances between £1 and £1 million, and credited monthly

johnmoney05

Applied on 25 Sep. Got the pin and card on 2 Oct. Called Citibank to activate at 11:55am today. Done at 12:04pm. Registered online, ordered envelopes and payin book at 12:20pm.
Did not have any problem really. Everything looked ok and smooth to me.

KiwiCoop

Thanks Baldur. I've discovered ING do a Growth Saver a/c for existing customers currently offering 3.0% AER for £50k+. As I'm looking for a place to put £80k for a matter of weeks it will do me. Curious thing though this penchant for banks to shaft their present customers, though it's our own apathy of course that encourages it.

exiged

KiwiCoop wrote: »

I have given up after two days of trying to activate my account and am now taking my money elsewhere. I would stick with the ING account I opened a couple of years ago but of course they only give new customers the good rates - I thought I'd ring them to ask about that but of course that's an 0845 number (0800 numbers only for new customers...).

Where are all you MSE members miffed at Citibank now putting your hard-earned?

Ive been on the phone 45 mins trying to activate mine so will probably be looking elsewhere now too.If this is how difficult it is to put money in,i can imagine trying to contact them to get it out!.
im staying well clear.

Mr_K

90 mins on the phone & no sign of life. Given that some are getting through quickly, and some waiting yonks, I don't think they've got a proper queuing system. Why you can't activate automatically with phone keys strokes or online God only knows........ What do you need with the card anyway ? None of this with Egg & its the same company !

charlie12

Mr_K wrote: »

90 mins on the phone & no sign of life.

2 hours 20 minutes here so expect to wait at least another hour. It looks like they have all gone home for the weekend!

My cordless phone is low on battery power and I don't think it will survive until the closing time of 8pm.

I'll hang up shortly. Will try again in the morning next week.