Citibank Plus International Transaction Fee - Will It Be 2.5% from 1 March 2017? [No]

aussie bargain on 09/12/2016 - 11:15
Last edited 10/12/2016 - 13:39 by 2 other users

I just got an email from Citibank regarding some changes in their T&C.
One of the biggest one for me is that the Citibank International Transaction fee will now be charged for Citibank Plus (as they are removing the exclusion)
http://www.citibank.com.au/importantinformation_deposits/glo…

UPDATE: I have just called the Citibank call center and they they have confirmed that the fee will NOT be applicable to Citibank Plus accounts (as per the FAQ)
http://www.citibank.com.au/mcfaqs/
Will there be additional charges as a result of this change?
No. The fees and charges for your account remain the same.

Financial

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Comments

  • Ametric on 09/12/2016 - 11:17
    +1

    you beat me by a second! So, from 01.03.2017 there is no use for this card…

    • kawinuyo on 09/12/2016 - 11:20
      +1

      Only no use if you want to use visa debit, pretty sure after reading it is the same conditions with a Mastercard debit instead

    • purplelady on 09/12/2016 - 11:54
      +1

      Yep, my thought too exactly. I'm considering to close it soon -_-

  • z0s0 on 09/12/2016 - 11:17
    +1

    Yeah trying work out if this is the case. It certainly seems like it.

    Also being discussed here: http://forums.whirlpool.net.au/forum-replies.cfm?t=2587681&p…

  • kawinuyo on 09/12/2016 - 11:18
    +11

    Got the same email, don't think so, http://www.citibank.com.au/importantinformation_deposits/glo… still says excludes citibank plus transaction page 5, seems like all the changes are because they are going from visa to Mastercard

    • dassaur on 09/12/2016 - 11:29
      +1

      Exactly. Seems no changes re: international transactions.

    • Make it so on 09/12/2016 - 11:40
      +5

      Yes, at first I also thought they put the fee in place, but then concluded probably not. Then I thought: I'd better get onto Ozbargain to see whether other people agree :)

  • ragrum on 09/12/2016 - 11:18
    +1

    Edit: The Plus account does seem to keep its exclusion.

  • z0s0 on 09/12/2016 - 11:33
    +1

    Page 5 is the original terms. Page 1 explains the changes.

    One of those changes is that "(Excludes Citibank Plus Transaction and Citibank Online Saver Accounts) " has been removed.

    So it certainly seems that there will be a fee introduced. But agree that it's far from clear.

    • kawinuyo on 09/12/2016 - 11:40
      +1

      All the points they say they are changing refers to sections that specifically mention visa, if you replace point 3 on the original schedule the top bit still stands

    • Make it so on 09/12/2016 - 11:48
      +1

      It's ambiguous. The changes do not include the whole table, just one row of it. So the question is: does the exclusion (Citibank Plus) which is in the header of the original table still apply?
      May need to talk to Citibank about it.

      • kawinuyo on 09/12/2016 - 12:26

        I called for clarity, the person I spoke to said she will call me back

        • kawinuyo on 09/12/2016 - 12:58
          +11

          They called me back. Confirmed no changes to fees for citibank plus transaction. Still fee free for international transactions

  • c64 on 09/12/2016 - 11:42
    +1

    gee, i will be closing my account because that was the only useful feature.

  • peterpeterpumpkin on 09/12/2016 - 11:44
    +1

    I'm too lazy to read the T&Cs.

    But just in case the story checks out…boo, booooooooooooo, booooooooooooooooooooooooo!

    I'm ringing them now. Now I know why they play that sad Forrest Gump like on-hold music.

  • yycan on 09/12/2016 - 11:46
    +3

    Free international ATM withdraw is the only reason why I still have this account. If they start to charge… I don't know what to do. Any other cards that do not charge for international AT< withdraws?

    • peterpeterpumpkin on 09/12/2016 - 12:03

      Even though we're not in the EU so can't get it anyway it was disappointing that the Revolut card started charging for withdrawals as well.

    • mjp80 on 10/12/2016 - 20:08
      +1

      I keep about $50 in my Citibank Plus Transaction account (and keep it in my wallet as an "emergency card") and use ING for everyday banking (no ATM fees in Australia). If I'm traveling overseas or need to send money overseas I just move it over and it shows up next business day.

    • Caped Baldy on 10/12/2016 - 20:13
      +1

      ING has $2.50 atm withdrawal fees…best of the rest as far as I know. And they have $75 referral bonuses.

  • Make it so on 09/12/2016 - 11:51
    +1

    From http://www.citibank.com.au/mcfaqs/

    Will there be additional charges as a result of this change?

    No. The fees and charges for your account remain the same.

    Or do they? :)

    • [Deactivated] on 09/12/2016 - 12:19
      +1

      It's just a generic email.

      They are sending it out and moving all customers off the Visa system to Mastercard.

      That's what I gathered from my call.

  • Colombian on 09/12/2016 - 12:07
    +1

    No changes for me that have a Citibank Plus Free International Transaction Fee.

  • peterpeterpumpkin on 09/12/2016 - 12:08
    +1

    I called Citibank and they were unaware of the new changes.

    But admitted it's not looking good since the "excludes" was eliminated from the header. Is there even another type of transaction card anyway?

    She asked me to call back in 3-5 business days.

    • [Deactivated] on 09/12/2016 - 12:18
      +1

      Yeah, I don't think it applies to the Plus card as there is no mention in the email summary of such an important change.

      • peterpeterpumpkin on 09/12/2016 - 12:23
        +1

        Yeah, I was thinking/hoping the same thing.

        What I don't understand is how do you even order a non-plus debit account? Is it a legacy account (for suckers)? The lady on the phone couldn't explain it.

        Update: Ah OK, Ultimate Saver, Ultimate Business Saver, Online Cash Manager Account, Cash Management Account have debit card options.

        • jasonb on 09/12/2016 - 17:35
          +1

          Also offset account isn't a Citi Plus account if you have an home loan with them.

          But yes for normal punters like us, Citi Plus is the transaction account you'd get.

  • [Deactivated] on 09/12/2016 - 12:16
    +3

    I called and they told me that it was just to remove the references to the words Visa.

    Hopefully this is what they actually meant to do.

    • peterpeterpumpkin on 09/12/2016 - 12:44
      +1

      If so, they should really give us product information in a formally accessible and dated document. Our only evidence currently existed on a sign-up page.

  • MITM on 09/12/2016 - 12:37
    +1

    Why the move from Visa to MasterCard anyway ? Visa must be p**sd. That's a huge client to lose.

    • Make it so on 09/12/2016 - 12:41
      +1

      Probably because Visa charges them higher fees. It's probably why most free cards are Mastercard-based.

    • Baysew on 27/01/2017 - 15:47

      That's a huge client to lose.

      MasterCard have come off much worse with NAB going to exclusively Visa.

  • Make it so on 09/12/2016 - 12:43
    +3

    OP, maybe change the title of this topic to something more like a question. Right now, it may be an incorrect statement that can cause confusion.

  • bbqwer on 09/12/2016 - 12:44
    +1

    Change to your Citibank Debit Card

    From March 2017, Citibank Visa Debit cards will be replaced with a Citibank Debit MasterCard upon card expiry.

    Summary of changes

    •       Your card number and card expiry date will change.

•       If you have direct debits set up linked to your card number, your direct debits will need to be updated with your merchant once you receive your new card. Any direct debits you have set up on your account number will not be affected.

•       Once you receive your new card, you will need to select a new ATM PIN.
  • Make it so on 09/12/2016 - 12:51
    +5

    Citibank responded to the message I sent them:

    From March 2017, Citi Visa Debit cards will be replaced with a Citi Debit MasterCard upon card expiry. This change will have minimal impact
    in the way your account operates and how you use it today.

    For your reference, there will be no additional charges as a result of this change. The fees and charges for your account will remain the same.

    So I think we can put this issue to rest for now.

    • KevinFine on 09/12/2016 - 12:57

      It's never that simple

      • KevinFine on 09/12/2016 - 12:57
        +2

        or is it?

    • purplelady on 09/12/2016 - 13:04

      oh cool! thanks for letting us know

  • z0s0 on 09/12/2016 - 13:11
    +1

    Well, it's looking pretty good based on what people have heard. Fingers crossed.

    Assuming the 2.5% fee does not apply, then this is actually a benefit. MC offers slightly better FX rates than Visa. I've tested and confirmed this myself: http://onemileatatime.boardingarea.com/2016/05/16/mastercard….

    • kawinuyo on 09/12/2016 - 13:25
      +1

      I agree my 28 degrees always seemed to give me better rates when I used that and citibank at the same time, only sad thing for me is that some air travel places don't have a surcharge if you use a visa debit, hopefully POLI is now in place for most of those

    • triple675 on 11/12/2016 - 14:46

      I thought that MasterCard transferred your money into USD and then to your chosen currency thus making the transaction more expensive. Whilst Visa just converts to the chosen currency.

      • z0s0 on 11/12/2016 - 16:38

        Nope

  • retiredfeline on 09/12/2016 - 13:13
    +1

    Yeah got that email, AFAICT from the documents they linked to, it's just removing the word Visa but not replacing with MC in their terms so they can easily change next time.

    Wonder why the switch of brands. Did MC offer them a better deal?

  • CVonC on 09/12/2016 - 13:51
    +1

    fingers crossed no fees for international transactions and use of international ATMs

    MC is good for JetStar I suppose. But POLI is good enough anyway.

    • CLoSeR on 11/12/2016 - 23:33

      It's still fee free.

  • jesseboy89 on 09/12/2016 - 14:00
    +2

    Footnote 2 on page 2 under the 'Product Fees and Charges' table is retained.

    That includes an exclusion of the Citibank Plus account from 'Citibank Fees'. Said fees include the International Transaction Fees.

    Therefore, there is no change.

    • peterpeterpumpkin on 09/12/2016 - 14:44
      +1

      Contract null and void. The people win in the case of The People vs Citigroup Inc..

  • dingdong3000 on 09/12/2016 - 14:10
    +1

    Phew.. thought might have to look for alternatives for international purchases after receiving that email as well. At least with MasterCard the rates are better if for real there are no fees.

    It's the only reason why i have that account… their IB sucks to the bone where everything is slow especially transferring in/out funds.

  • dingdong3000 on 09/12/2016 - 14:21

    I'm getting mixed response from users … on terms and conditions it saids the international fee on page 3 is being replaced by

    http://imgur.com/VhYLudl

    which means there is a fee for all accounts after all? :S

    • jesseboy89 on 09/12/2016 - 14:31
      +1

      No. Footnote 2 on page 2 is retained, see my post above.

  • tqf8h on 09/12/2016 - 17:36
    +2

    This is an alternative if the foreign transactions fee is charged

    http://www.macquarie.com/au/personal/bank-accounts/transacti…

  • lupiter on 09/12/2016 - 18:44

    Damnit. I need a Visa card for travel to Japan, why is everyone stopping visa? Anyone know a good alternative with low fees and Visa, preferably debit not credit?

    • ctd on 09/12/2016 - 21:14
      +2

      I checked this earlier because I know Mastercard used to not be as accepted in Japan. But, according to http://www.sevenbank.co.jp/intlcard/index2.html, Seven Bank ATMs work with Mastercard.

      The next best Visa Debit card I know of is the ING Direct account which charges a flat $2.50 per international ATM withdrawal (so not bad at all if you can limit the number of withdrawals you do), or 2.5% for purchases (about standard).

      • lupiter on 09/12/2016 - 22:39
        +1

        I've visited some small towns where the only international ATM was the Post Office (a Japanese town with no 7-11!!) and they still don't take MasterCard: http://www.jp-bank.japanpost.jp/en/ias/en_ias_index.html

        Thanks for the tip on ING. I don't have a problem carrying lots of cash in japan, so that's probably the way to go.

      • greatlamp on 10/12/2016 - 01:22
        +2

        I took my 28 degrees card to Japan ( mastercard ). It worked everywhere, including cash out at ATM.

        They did have an odd limit of 30000 yen though, which considering the cost of living there isn't very much

      • jimbobaus on 10/12/2016 - 02:16
        +1

        Lived in japan for 2 years.. mastercard is accepted pretty much anywhere Visa is accepted.
        In fact its AMEX which is more widely accepted than Visa or MC, You will never have issues withdrawing cash from a MC in Japan.
        And Citibank have their own ATMS all over japan (every 7-11)

        • dazweeja on 11/12/2016 - 02:44

          ATMs in 7-11s are Seven Bank. They didn't accept MasterCard in 13/14 but do now. Citibank doesn't exist as a retail bank in Japan anymore, it was bought by SMBC/Prestia.

        • jimbobaus on 11/12/2016 - 02:59

          @dazweeja:
          Yes.

    • kulprit on 09/12/2016 - 21:53
      +2

      Why do you think you need Visa rather than MC for Japan? It just acts as a savings account when you put it in an ATM.

      • lupiter on 09/12/2016 - 22:35
        +1

        Because my CBA MasterCard was rejected by many ATMs (even with an "international" label), and the Citibank and ANZ Visa cards weren't.

        See list from MasterCard of ATMs accepting their cards: http://www.mastercard.co.jp/personal/atm-notification.html

        • [Deactivated] on 09/12/2016 - 22:58

          did you call cba before you go?

        • [Deactivated] on 09/12/2016 - 22:59

          did you call cba before you go?

        • lupiter on 10/12/2016 - 09:54
          +1

          @holyland: yes of course. It wasn't rejected at the CBA end, it was rejected by the ATM. Like the page I linked to says, only a few banks/convenience stores accept MC.

        • lakeman on 10/12/2016 - 20:20
          +1

          @lupiter:
          Sometimes you have to change which account you use.like use credit card with the citibank card.
          I too have used the 28 degrees card at post ofices and 7eleven stores without issue

  • mhaqs on 09/12/2016 - 22:55

    I read this article some days ago. Could be the reason for the shift to MC?

    https://www.engadget.com/2016/12/06/web-bots-guess-visa-card…

  • Godric on 10/12/2016 - 08:15
    -4

    Why use citibank over 28degrees anyway?

    • kawinuyo on 10/12/2016 - 08:36
      +7

      For atm cash withdrawals

    • Marcsie on 10/12/2016 - 14:09
      +2

      Just do the google search,then you know why ?

      • Godric on 10/12/2016 - 17:16
        +1

        Or use the purpose forums have been created for?

        Reckon i could use your comment on one of your 450 comments?

  • zealmax on 10/12/2016 - 09:14
    +3

    I think ANZ Rewards Travel Adventure Visa card is the best option at the moment. No overseas transaction fees, No overseas ATM cash advance fees, Free annual domestic flight, free travel insurance. Ticks all of the boxes, except it has an annual fee. This can be overcome by bundling it into your mortgage. After 10 years with 28degrees master card(Wizard clear advantage), I gave it the flick, it no longer served its' purpose and had stupid Bpay fees.

    • dazweeja on 11/12/2016 - 02:52

      Are you saying they waive the annual fee because you have your mortgage with them?

      • zealmax on 11/12/2016 - 16:59
        +2

        It is included in the package price. If you have a package loan.

        • dazweeja on 11/12/2016 - 20:01

          Thanks for the tip. I do have my mortgage with them so I'll check it out.

  • usmanyousaf on 10/12/2016 - 22:36

    I am travelling overseas from March till May. I had citibank visa debit for this purpose only. Wondering what other bank charges 0% international transaction fee???
    I am intersted in only debit cards.

    • dazweeja on 11/12/2016 - 02:49
      +3

      Your Citibank Plus debit card will still be fee free, just MasterCard instead of Visa.

  • sky blu on 11/12/2016 - 03:27
    -1

    So the story goes like this:

    Citibank is changing from Visa to Mastercard. Then they thought, ah what the hell, why not impose the 2.5% international transaction fee on Citibank Plus like the other debit cards on offer. "Hmm… no one would be bothered to read the fine print, Tees and Cees, and what not.", a voice uttered in the meeting, followed by a moment of silence, the sounds from someone's high quality reclining office chair echoed, signifying an implied unanimous consent from the board of directors, whose eyes were glistened with seven-figure dollar amounts, contemplating on the purchase of their next yacht.

    Boy, were they wrong.

    "Darn it, Trump!", Bill, in Operations, exhaled. "We miscalculated! Them OzBargain mobs are a bunch of geewhizz smartie pants penny pinching analysts. I heard the phones were ringing nonstop in the past couple days and some of the Customer Service staff had just about it. Man I hope Hillary isn't gonna tear you a new one in next Tuesday's meeting. Either way we are f**** for the next 4 years!"

    "By the way, what's with the memo going on about our Internet Banking? The interface has always been so crappy for years since Jobs left and people start to complain NOW!?", Bill remarked agitatedly.

    In his usual corner desk, Trump shrugged, albeit that constant smirk he has absolutely motionless facial expressions, almost like a poker face, which most of the time helps cover his hedious ogles at the office ladies, or bimbos, and god knows what depravity he is up to in his little mind and own time. Staring at the half-empty Vaseline tub, he knew there would be no way out this time. He knew Hillary. He recalled the last time, shivering at just the thought of it…

    CITIBANK PLUS is still FREE everything guys. Give Trump a break.
    • HardQuiz on 19/12/2016 - 00:05

      Trump disgusts me

  • MobyOne on 11/12/2016 - 14:46

    The thing that gets me with all this is that EVERY customer who uses their VISA card number rather than bank details for direct debits/bill paying will be impacted, in that they will need to update their direct debit details with MasterCard details.

    The customer impact has the potential to be significant. And not in a good way.

    • sky blu on 11/12/2016 - 15:42
      +2

      I disagree. The product has no annual fee to start with. People use Citibank Plus pretty much because of the fee free international/ ATM transactions, not because they have great Internet Banking tools, top notch customer service etc. Now if those benefits were no longer offered or imposed fees, then the impact is certainly significant. I assume the number of customers dropping Citibank would be far greater than the ones who have dropped ING DIRECT since they removed the 2% cashback.

      Besides, why "uses their VISA card number rather than bank details for direct debits/bill paying"? The risk is higher and I don't see how one wouldn't opt to use bank details first.

      And updating direct debit details (Visa to Mastercard), realistically does that take you more than a couple hours, already factored in the time you wait to speak to someone?

    • retiredfeline on 25/12/2016 - 10:40

      You also have to update your direct debit details with merchants every time the expiry month changes (when they issue you a new card) anyway.

  • videoman on 11/12/2016 - 22:03

    Does Citibank Plus debit card still have no foreign transaction fee when buying things internationally? I recently bought something from amazon france for EUR 352.77 and was charged $513.66 AUD.

    • CLoSeR on 11/12/2016 - 23:29

      It's still a free free card for international purchases and cash withdrawals. Rate charged sounds ballpark, depends on the exact rate on the day.

      Citibanks exchange rates are very good.

  • CLoSeR on 11/12/2016 - 23:33

    All you had to do was read the updated schedule of fees document they linked in the email, the Citibank Plus account is still exempt from international transaction and withdrawal fees.

    http://www.citibank.com.au/global_docs/pdf/Feesandcharges.pd…

  • parcus on 11/12/2016 - 23:48

    Still exempt from the fee, though been thinking of moving to Macquarie's similar card offering for domestic use, and just use Citibank for when overseas (Macquarie charges $5 for international ATM withdrawals). Sick of Citibank's hopeless web and especially mobile app, while Macquarie's is genuinely one of the best I've come across.

  • CheapskateQueen on 25/12/2016 - 10:37

    Just off to NZ today and am planning to use my citibank plus card (my 28 degrees was cancelled for fraud and i didnt realise)

    Just trying to quickly confirm that:
    -there's no foreign exchange fees on purchases or atm withdrawals?

    • retiredfeline on 25/12/2016 - 10:41

      Consensus seems to be no. Let us know how you go.

      • CheapskateQueen on 11/01/2017 - 18:29
        +1

        Didn't withdraw money from an ATM but as of Jan 2017, citibank plus was still fee free for purchases and the exchange rate for NZ was fantastic. Better than the cash rate at my fave fx place (kvb kun) A+++

  • rsepsot on 17/01/2017 - 04:00

    I have read all the comments on this topic. So what exactly is happening on March 1st regarding the Citibank Plus account?

    I'm planning to open a Citibank Plus account mid February. Am I going to get a Visa or MasterCard debit card? Am I going to have to face any new international transaction/overseas ATM fees that won't apply for existing Citibank Plus account holders but will for new ones?

    • Baysew on 26/01/2017 - 10:24

      UPDATE: I have just called the Citibank call center and they they have confirmed that the fee will NOT be applicable to Citibank Plus accounts (as per the FAQ)
      http://www.citibank.com.au/mcfaqs/
      Will there be additional charges as a result of this change?
      No. The fees and charges for your account remain the same.

  • iko on 26/01/2017 - 09:48

    I've just being charged an International Transaction fee after buying online a train ticket in Europe.

    I'm going to contact them, as it wasn't supposed to be this charge and it's not even 1st of March.

    • retiredfeline on 26/01/2017 - 09:57

      I think people were discussing a transaction fee for ATM withdrawals overseas. I think the transaction fee for DC purchases has always been there.

      • iko on 26/01/2017 - 10:18

        I often buy these train tickets and never got that fee.

        My last international transaction was December 12 and had no fee either, unless it was hidden and included in the price but it didn't look so.

        • retiredfeline on 26/01/2017 - 13:18

          Maybe they are itemising the components these days.

    • Jvin on 29/01/2017 - 22:01

      hmm.. interesting..

      looking at this page: https://www.citibank.com.au/aus/banking/everyday_banking/cit…

      the information says: Pay $0 Citibank fees for any overseas ATM or in-store transactions1.

      it doesnt say its free for ONLINE transactions….

      has anyone done online transactions with the citibank plus debit card in foreign currency and not had fee before ??

      is this change new ?

      • Peck on 30/01/2017 - 10:38

        1,000's. I book, online, all of my AirAsia flight legs and seperately. This give me a small savings, plus it builds in flexibility to cancel 1 leg without losing the lot. I don't know why anyone would do otherwise.
        Never had a fee and always a great exchange rate.

    • iko on 02/02/2017 - 22:38
      +1

      Update Thursday 2nd February:

      They took a few days to answer. The answer is a copy and paste template message of the new changes saying there are no fees. They didn't answer why I have been charged an International Transaction Fee so I have sent another message. Hopefully they will answer my question this time.

      For now, Customer Service: poor.

      • sev snape on 15/02/2017 - 14:08
        +1

        Did you get any update on this? I'm hoping to sign up for this card to pre-pay a hotel in the UK online before I go.

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