Citibank greed

[Gary 4,119]

My apologies to anyone who changed to Citibank because of my prior posts praising them. Previously there was no ATM fee but there was a one percent foreign exchange fee. Out of the blue sky they raised that fee to three percent. No where on their web site does it mention that. In fact it still says one percent. After several days waiting for their email reply to me, they told me that I was notified through my monthly statement. I opted for paperless statements long ago and since I keep track of my account via Internet I don't download the statements.

 

I have notified them to change my account back to a $1,500 minimum balance. As far as I am concerned my ATM card is TOO expensive to use.

[cowboy 0]

My old redit union stared charging outrageous fee in addition to the exchange rate. I have switched to keypoint becuase the have no atm fee no foreign transaction fees and a decnt exchange rate.

[Dr Mick 111]

My bank Nationwide zero charges for using ATM

[don_dadda 0]

thank God my bank specializes in military customers. No ATM fees anywhere and if i get charged one by the ATM itself...i get my money back

[ben99 0]

NATIONWIDE FLEXI ACCOUNT ROCKS

 

IT'S FREE YOU SEE

[Rhoel 2]

Serious point here - the UK banks are shitting themselves because customers discovered that the UK banking laws prohibited banks profitering from charges on fees: When some smart arse discovered this, he sent them a bill. They didn't pay so he took them through the low cost fast track court system (called the Small claims court). They immediately settled out of court ... the banks dos not want to reveal the true cost of the charges.

 

Check the US laws on this one - If the bank failed to inform online banking customers about the change, then you might be in a very strong position. i.e,. they cannot change the fees without proper notification to you. The online statements should have carried that information. The fact their online banking pages still says 1% means yu can hold them to this: PRINT THE PAGE OUT NOW!.

 

If I was in your position, I would invoice them for the difference between the 1 and 3% charge. Include the webpage with 1% and details of the fact you are an online only customer - they will have records to show they have not sent you paper statement. You must send the invoice by recorded or registered delivery.

 

You have a very strong position as they have changed the contract with you without proper notification - they have screwed up ... they forgot they have eCustomers. That is good news for you.

 

BTW, I love the MCOL (Money Claims Online is the online version of the Small Claims Court in the UK). I have used the service three times and even though I represent myself in court, I have yet to loose a case. To date, I am up GBP8500. If you stick to fact and not opinion, you will always win.

 

My gut feeling is the bank if they think you will go to litigation will pay out of court: Banks hate bad publicity. That is in your favour.

 

Rhoel.

[MC_Ldop 40]

When did the 3% charge start? I left in early December and it was still 1%. Maybe I'll look into PayPal's debit card for cash in LOS.

[Gary 4,119]

I opened the October statement and there it was big as life;

 

Foreign Transactions (Point of Sale, ATM, and Other transactions):

Effective December 2nd, 2006, we will impose a transaction charge equal to 3% of

the transaction amount (includingcredit and reversals) for each transaction

(U.S. or foreign currency) that you conduct outside the 50 United States or Puerto

Rico other than cash withdrawals at Citibank ATMs, which will not be subject to a

transaction charge

 

Even though the web page still says one percent, there is a disclaimer saying things could be changed at anytime. The few transactions I had didn't amount to more than maybe $30. The problem is that it fucks up the way I have been living. Now other than paying the three percent, I would have to do a wire transfer. With Thailand as fucked up as it is right now, I don't want to have a lot of money in the bank because the baht could crash anytime.

 

I am still looking at other ATM cards that have no fees. I have sent a number of emails to different banks and brokers and am waiting on replies.

[Owen` 2]

Gary, some data.

 

http://www.flyertalk.com/wiki/index.php/Cr...oreign_Exchange

[Sailfast 503]

When did the 3% charge start? I left in early December and it was still 1%. Maybe I'll look into PayPal's debit card for cash in LOS.

 

I have used Paypal's ATM in LOS. There where times when I could not get money. Did not eat my card, just would not let me take out cash. Other days it was fine. My bank ATM worked all the time.

 

Sailfast

[Gary 4,119]

Gary, some data.

 

http://www.flyertalk.com/wiki/index.php/Cr...oreign_Exchange

 

Thanks for the link Owen. I have been doing a lot of surfing the past few days. In fact I tried to open an account with Capital One. Every one that I have emailed for more information has responded with canned email answers. I don't think any human works for these companies. Even to email them takes a US address. I did email Capital One AGAIN and asked them to please read my email and then respond. I'm really interested in their money market account. No ATM charges and the money market pays over 4 percent. Why is everything difficult?

 

As a side note; PayPal sucks. I will never do business with them again. Totally incompetent.

Edited January 10, 2007 by Gary

[Owen` 2]

Gary, email USAA. They have the finest customer service I've ever encountered and I've been with them 30+ years. They may not say things you will like, but they will respond.

 

If you are ex military, that is their focus.

[Gary 4,119]

Gary, email USAA. They have the finest customer service I've ever encountered and I've been with them 30+ years. They may not say things you will like, but they will respond.

 

If you are ex military, that is their focus.

 

I applied on-line. I am an honorably discharged veteran but apparently that's no enough. It said I wasn't qualified but I'll try the email and further explain.

[don_dadda 0]

Gary, email USAA. They have the finest customer service I've ever encountered and I've been with them 30+ years. They may not say things you will like, but they will respond.

 

If you are ex military, that is their focus.

I LOVE USAA, best bank ever

[Owen` 2]

Gary, for "membership" at USAA you must be a current or former US military officer, and recently they changed that to senior enlisted. I don't recall what enlisted level qualifies.

 

But that's for membership. I don't think any such restriction exists to have an account at their bank. The problem you are having may be that you're outside the US -- but I don't know. Their exceptional service starts once you're on the inside.

 

They are just hyper concerned about their customer well being. They are a full service financial firm and are the 6th largest insurance company in the US. When I call them to talk about whatever, they ask security questions. The usual ones are obvious and all firms do it, like what is your date of birth and what is your current address. But these guys ask me what make and model car do I have insured with them and what was my rank in the military when I separated.

 

They're very good. I hope you get favorable results from them.

[cnkbud 0]

Hi and belated Happy New Year "07" to all there. I did contact USAA and found that I do not qualify for their banking as am not an ex-officer; as for granting membership to ex-senior enlisted I believe it varies state-to-state but not here in my home state, so looks like that leaves them out, at least for me. I did call Capitol One and learned that they do not use an Visa or Master Card ATM card(they claim they issue their own card) so one should not be subject to the rediculous sur-charge for currency conversion withdrawals; they did state that you would be subject to the ATM use charge imposed by whoever owns the ATM but not by them. I believe their on-line savings current interest rate is 4.83% yeilding a little higher APY so that's decent. The only hang up seems to be is that you must have a US based address to open an account and they do verify that(they mail the ATM card to that address) as they adhere strictly to Homeland Security current law. ACH transfers to/from another bank acct is free and funds are available within 1 or 2 business days, same for direct deposits, other wise new(non ACH) deposits are put on hold for 11 business days, and subsequent deposits for 6 days. They only send statements to your US based address but of course you can do on-line transactions from anywhere. Theyt do not allow international wire transfers. Hope this helps. You guys have a good one and enjoy. Old Bud

[Gary 4,119]

After looking at opening accounts with at least 6 different banks and brokers, the only one that allows a foreign address is Net Bank. Their money market doesn't pay as well as the others but supposedly there are no ATM fees. The are sending me an account package by snail mail to complete. I plan to stay with Citibank for my direct deposits, their free bill pay and the online $30 wire transfers. I told Citibank to change my banking plan back to EZ Banking because there is no longer a benefit to keep the $6,000 minimum in the present account.

 

Direct Bank sent me the canned email messages even after I emailed them three time and asked them to actually read my email rather than just sending their standard canned shit.

 

The credit union some suggested is for only some certain California county residents.

 

I am not qualified for USAA. That was confirmed by them.