New monthly fee: CitiBank foreign currency current accounts (EUR & USD)

Jew

rockitup wrote: »

I just took in a bank Statement showing my UK address and they opened an account in Las Vegas branch.

If you need a US Dollar credit card though, they require it to be secured. i.e. put a deposit into a fixed rate saving account for first couple of years that you have the credit card. They returned my deposit to me with interest

NICE! Awesome! Thanks! Perfect.

Bye bye CitiBank UK

I bet that's what a lot of people will be saying

I'd rather pay for the ticket to fly to the US than for a stinkin' account with terrible customer service (that used to be free)

jen245

Rockitup thanks for all the info, but just wanted to ask a few questions. What about your cards, did they send them to your UK address, and how do you pay into the account? Isnt it expensive to transfer money from a UK account, or did you just take Sterling cash, and pay it in there? What are the exchange rates like? Thanks

rockitup

jen245 wrote: »

Rockitup thanks for all the info, but just wanted to ask a few questions. What about your cards, did they send them to your UK address, and how do you pay into the account? Isnt it expensive to transfer money from a UK account, or did you just take Sterling cash, and pay it in there? What are the exchange rates like? Thanks

They originally sent them to my UK address but now I have moved to SE Asia and they still send them there no problem. I also have 2 Citibank accounts over here now (i in local currency and 1 in US$) so I can either send money when using an FX broker who transfers for free, or use my Citibank account here to make a free Global Transfer which allows up to $10,000 each banking day.

The customer service in both Citibank U.S. and here has been far better than what I have been used to in Citibank U.K. for the last 3 or 4 years. I think the UK lot are a sinking ship.

But make a phone call direct to a U.S. Citibank branch before you try to move your funds, just in case things have changed since end of 2008. I reckon it should still be ok as I was offered Brokerage accounts for buying shares and funds when I was there last year. The main obstacle is just like elsewhere - proving your ID and address. You will also need to fill in a W8-BEN form which is quite easy.

defected82

Hi

I bank with Lloyds TSB and do not wish to change bank, nor do I want to pay the monthly charge. I opened the Citi Canadian Dollar account to save for future trips and saved about $500 in 6 months but I won't reach $2000 for some time if ever at all.

Does anyone know of an alternative way I can save a bit each month without having to pay fees?

seriousDFW

Jew wrote: »

NICE! Awesome! Thanks! Perfect.

Bye bye CitiBank UK

I bet that's what a lot of people will be saying

I'd rather pay for the ticket to fly to the US than for a stinkin' account with terrible customer service (that used to be free)

When I rang to cancel mine, they said without being prompted "is this because of the fee?" so presumably they are getting lots of cancellations as a result of the fee.

Jew

defected82 wrote: »

Hi
Does anyone know of an alternative way I can save a bit each month without having to pay fees?

Please let me know what you find out!

seriousDFW wrote: »

When I rang to cancel mine, they said without being prompted "is this because of the fee?" so presumably they are getting lots of cancellations as a result of the fee.

Did they offer you anything?

seriousDFW

Jew wrote: »

Please let me know what you find out!



Did they offer you anything?

No, they made no attempt to keep me whatsoever.

However, I only opened the account a couple of months ago and haven't had the chance to use it yet, but didn't want to pay for it.

scragend

I have closed my Citibank euro account - I only used it two or three times a year on holiday so wasn't worth paying €5 a month.

I didn't phone to close it because last time I had reason to phone them I was on hold for ages. I sent a letter first class last Friday, and the money appeared in my Halifax account today.

Can't fault the service!

diamonds

No notice from Citibank here, what makes it hard is I have a 2xAU, EU & US account linked to my UK citi current a/c...I dont really use the accounts unless in AU to do transfers...wonder how that will work out for me as I need the UK account to access the AU which has money I dont touch in it & I have no AU Citicard as linked to my UK Current by Citi Sydney branch....lol this could get complicated for Citibank.

diamonds

Strange !

Access to Foreign Currency Accounts linked to just one card1

"With a Citibank Plus Current Account you have the opportunity to additionally hold Euro and US Dollar current Accounts with no monthly fee, giving you access to three currencies all from your one Citibank Visa Debit Card"

http://www.citibank.co.uk/personal/banking/bankingproducts/currentaccounts/sterling/plus/usdeuros.htm?merchant=citi