Relationship fee

armour

Anyone else come across this. I opened a savings acc with citibank, tempted by the 3.3% rate. I had to open a bank account with them also from which they've taken a £10 'relationship fee' !

Viper_7

It's called the small print.

CLAPTON

I opened a citbank saving a/c paying 3.3% without any need to open a bank a/c.

jon3001

Time for a divorce.

opinions4u

armour wrote: »

Anyone else come across this. I opened a savings acc with citibank, tempted by the 3.3% rate. I had to open a bank account with them also from which they've taken a £10 'relationship fee' !

Why did you have to open a current account with them? I can see no requirement for this.

Lesson to learn before opening any banking facility - read the T&Cs carefully and know what facilities they could charge you for.

armour

Thanks for the replies, there will be a quick divorce - I'm gonna jump into bed with Ulsterbank.

MiserlyMartin

What a cheek charging this fee

opinions4u

MiserlyMartin wrote: »

What a cheek charging this fee

It depends, doesn't it.

Other posters didn't have to open a current account with Citibank.

The OP hasn't clarified why they felt they needed to (despite being asked).

If I've identified the right account, it's this one:

Worldwide holiday travel insurance for you and your partner
Worldwide mobile phone insurance
Identity theft protection
Card protection for all your cards (including non-Citibank cards)
Interest paid on cheques from the day they are received by Citibank1
No transaction fees on global transfers to Citibank accounts in over 20 selected destinations (exchange rates apply to transfers across currencies)2
Interest free overdraft up to £500,13.9% EAR typical variable thereafter

This isn't a case of the bank selling inappropriate products or charging outrageous fees. It's a case of the customer buying a product online without reading the details.

armour

Call me old fasioned but when I open a bank account I don't expect to be mugged with a £10 monthly fee I've not been expressly Informed about.
Do you think that that's unreasonable?

atypical

armour wrote: »

Call me old fasioned but when I open a bank account I don't expect to be mugged with a £10 monthly fee I've not been expressly Informed about.

"As the name suggests, the Citibank Plus Account offers you a whole lot of added extras. An extensive package of benefits and insurance cover, all for just £10 a month."

opinions4u

armour wrote: »

Call me old fasioned but when I open a bank account I don't expect to be mugged with a £10 monthly fee I've not been expressly Informed about.
Do you think that that's unreasonable?

The online application route I have just followed offers a choice of 3 current accounts.

Each offers a "Get Details" option.

The 'Citibank Plus Account' clearly states "As the name suggests, the Citibank Plus Account offers you a whole lot of added extras. An extensive package of benefits and insurance cover, all for just £10 a month. ".

Now if you're suggesting that you've opened the account on the back of a pohne call and this hasn't been made overtly clear then I support your case.

Bit if you've opened an account online, ignore the very clear opportunity to read about the account and, presumably, click to say that you've read and understood the terms and conditions then I really think you as the buyer have to take full responsibility for your decision.

I would also hazard a guess that they have provided paper copies of T&Cs and account charges.

Your error. Sorry.