Introductory rate not honoured
Opened an online savings account under 2 months ago. Introductory rate of 3% for first 4 months was advertised. Just got informed it has now dropped to 2.85%. While I acknowledge the terms and conditions does specify that the introductory is subject to change, I feel this is valuable information for the anyone out there thinking about opening an account with citi. The lesson for me is the advertised validity period of the introductory rate means little if the word "variable" is in there. i.e they could advertise a high introductory, variable ra...te for the first 20 years and then drop the rate right down after one month and it would be within their rights to do so. I expected more from Citi. Will proceed to close up my account and bank elsewhere.
Be wary of the advertising of the promotional rate.
I specifically signed up for the Citibank online savings account because they advertised a promotional rate of 3.4% for 4 months. However after one month it dropped to 3.05% and now 3%. When I wrote to complain about the change in rate and not honouring their advertised special, I was basically told rate changes were in the conditions. Therefore i didn't pay sufficient enough attention to the long list of conditions. If the bank advertises a rate for a promotional period they should honour it. Be warned. Mauro
I deposited a large sum of money (some $200k). When I eventually needed it, in the transfer they lost my money for some 10 days. Their phone personnel are uniformly incompetent, and their systems are the same. When the money eventually turned up (after many phone calls and stress), they didn't bother to pay any interest for the time they had "lost" the money in their system.
I have also had similar bad experiences with their call centre when I had a Citibank Visa credit card. I had hoped their phone personnel would have improved since the early 2000's, but clearly not.
Incredible levels of incompetence for a financial institution. Bad call centre.
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