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Citibank $50 eVoucher with $1500 Spend on Citi PayAll (2% fee)

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Citibank $50 eVoucher with $1500 Spend on Citi PayAll (2% fee)
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arctan on 01/10/2020 - 15:38 www1.citibank.com.au (231 clicks)
Last edited 02/10/2020 - 17:25 by 1 other user

I got email from Citibank on their PayAll service. It has 2% fee so if you pay $1500 with PayAll you end up fork out extra $30.
The evoucher is $50 in value so in theory you can profit $20 by doing so in Oct 20.
Obviously this only applies if you already have a Citibank credit card.
This might help someone and you can easily pay rent or ATO payments with Citibank PayAll (you get reward points in return). Anything more than $1500 is not going to be worth it.

Evoucher options - Myer, JB Hi-Fi, Woolworths, Amazon, Sephora or Bunnings

Dear XX,

How would you like to be rewarded with a $50 eVoucher just for using Citi PayAll?2

Simply set up single or regular payments to the value of $1,500 or more with Citi PayAll in the month of October to receive a $50 eVoucher.1

Citi PayAll allows you to make payments to recipients with a registered BSB and account number held with an Australian financial institution. Use Citi PayAll for your rent, taxes, renovations and fees for education, property management, childcare and more. And the good news is, if your Citi Credit Card earns Citi reward Points, Qantas Points or Skywards Miles, you will earn uncapped3 points or miles where you couldn't before!4

You will be charged a 2% PayAll fee of the Citi PayAll amount.5

Financial

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closed Comments

  • easternculture on 01/10/2020 - 15:42

    $20 is $20.

    Just set mine up. 3 council rates are coming up soon

    • macr0hard on 01/10/2020 - 15:51
      +1

      how much work to set it up? I've never used this before, not sure if $20 is worth the time

      • Some Guy on 06/10/2020 - 16:22

        It takes very little time, other than waiting for the voucher to arrive and the 7 working day payment window from setup date - but it's still an easy $20 for mine. Won't be getting any use after the $1,500 is hit though.

  • blackfrancis75 on 01/10/2020 - 15:52
    +4

    Aside from Bonus hounds, if they're charging 2% on all payments who on earth is going to use this service?

    • arctan on 01/10/2020 - 15:54

      Probably people with huge ATO bills which they can get reward points by using Citibank PayAll service. They might find this service useful as there is hardly any credit card gives you reward points on ATO payments.

      • blackfrancis75 on 01/10/2020 - 15:58

        but… let's say you pay $10,000 in tax
        You pay $200 to Citi for using this service
        You get 10,000 points
        The points are worth an average of 1 cent each, according to NerdWallet valuations..
        So you've got $100 worth of points for your $200 fee.
        Even if they're worth twice that you're only breaking even

        Unless I'm missing something?

        • arctan on 01/10/2020 - 16:07
          +1

          Exactly. I would not use Citibank PayAll unless they offer a better bonus or incentives.

        • Some Guy on 06/10/2020 - 15:07

          You're missing the $50 e-voucher (woohoo!!). Spending more than $1,501 is not advised on this one.

      • burningrage on 01/10/2020 - 15:59

        I think AMEX is the one of the few that still does it.

      • tukanglistrik on 01/10/2020 - 16:00

        Amex…lower than 2% surcharge too.

  • gherkins on 01/10/2020 - 16:04
    +1

    Would using PayAll in any way affect your credit score?

    • sicinadan on 01/10/2020 - 22:09
      +1

      No. It’s part of the credit card function

  • magster on 01/10/2020 - 16:11
    +3

    Setup was super easy, just via the app. I just setup a one-off payment to my husband for ‘child care’ ;)

    • LakeVostok on 01/10/2020 - 16:32

      Did you get an email with the $50 voucher offer?

      • magster on 01/10/2020 - 16:33
        +1

        Yes I did

  • Turd on 01/10/2020 - 16:39

    Will have to wait for the email first

  • Reveen on 01/10/2020 - 16:43

    Is this a targeted offer or available to all Citibank credit card holders?

    • arctan on 01/10/2020 - 16:49
      +1

      The email seems to be a generic marketing email without special links or code.

  • orin on 01/10/2020 - 16:50

    Apparently the payall transaction could only be paid to business bank accounts not personal per the fine prints.

    • Some Guy on 06/10/2020 - 16:16

      Another poster above has suggested otherwise and I can't find anything in the fine print/s to support your claim. The only reference is to illegal or shonky shite like crypto or gambling. Can you C&P the words you've found?

  • Coley on 01/10/2020 - 16:51

    Is this payment type classified as a cash advance? Whats to stop you paying yourself?

  • frazel on 01/10/2020 - 16:51
    +1

    I would only use this if I needed cash for something, transfer 10k to another bank account, pay $200 in fees and save 2k buy paying in cash

  • Dark Zeus on 01/10/2020 - 17:04
    +1

    Targeted.

    I had this similar offer from Citibank but not with Citi PayAll.

    My offer was to spend $1500 within a month to get a $50 voucher (Myer, Woolworths or Bunnings). I had same offer 7 months in a row and they gave me gift cards month by month.

    • LakeVostok on 01/10/2020 - 17:26

      Wow, lucky duck!

  • jimbler on 01/10/2020 - 17:10
    +1

    At least it's better than this offer I just got from 28degrees….."get $50 back when you spend $3600 with Apple Pay during October."

    • forumninja on 01/10/2020 - 17:52

      For that, I got $50 for $500

  • Yabadabadoo on 01/10/2020 - 17:45

    I still can't get an answer for how the interest works (even emailed them and got a BS copy and paste from there FAQs that don't answer the question).

    I know there's a 2% fee but is interest charged immediately like a cash advance or is it treated like a purchase and there's an interest free period (and no interest if paid in full on time)?

    • Gleung on 01/10/2020 - 18:37
      +1

      Good questions. The fact that you can't have the answers straighaway suggests to me it's another "wonderful" banking product that racks in a lot of revenue for the bank at the moment, gives the executives great bonus for a few years, elicits a class action from disgruntled users down the track, then bank shareholders suffer when the bank pays out huge fines and settlements… So the WINNER of the Game is???

    • kev88au on 01/10/2020 - 21:50

      The 2% fee is essentially in leu of the merchant fee that’s usually built into the cost of things. The transaction itself would be payable at the end of your statement period.

      If you can’t pay your statement in full, then the standard credit card interest rates would apply.

      • Iwantthatbargain on 01/10/2020 - 21:56

        You can't trust Citibank. They may start charging interest as cash advance

        • Awesomandy on 01/10/2020 - 23:06

          The T&C states that it's treated as a retail purchase transaction. I might give it a go, as I have a $1600 transaction coming up. Tempted to pay my wife or myself though, not sure how they would differentiate between personal vs business accounts - there is no way for them to tell as far as I'm aware.

          • Flowerbomb on 16/10/2020 - 16:04

            @Awesomandy: I just set up a transfer, with the payment due on the 23 Oct. I’m a bit confused as Citi mentioned they would deduct the money from my account a few days before the 23rd.

            Do you need to transfer money to the credit card account before the 23rd or is it part of my monthly statement?

            Edit: just realised 23rd is when I signed up for this card, so it probably is billed to the monthly statement.

  • Flowerbomb on 15/10/2020 - 12:03

    I just signed up for payall doing a $1 transfer to my other bank account, to get a $50 voucher.

    Does anyone know if Payall qualifies as an “eligible spend” for Citi credit cards? Need to spend $3k within 3 months for the Citi rewards card, and was thinking of doing a transfer to my other account.

    • Youi2018 on 16/10/2020 - 15:07

      What do you mean by doing a $1 transfer ? The minimum is $1500 transfer to get the $50 voucher ?

      Im also on the 3k spend within 3 months so ill call them and ask them if payall classifies as eligible spend

      • Flowerbomb on 16/10/2020 - 15:36

        I didn’t get an email for payall. But $50 payall promo appeared on my Citibank app with no minimum transferred amount specified, so I set up a transfer for $1.

        I actually called them yesterday to ask if payall classified as eligible spend. The lady on the phone didn’t know but told me she’ll let me know next week. Would be handy if more people called Citi as well, so they would clarify the issue.

        • Youi2018 on 16/10/2020 - 17:50

          Are you processing it on the Citibank app ?I also have the $50 payall promo on my app with no minimum amount showing for the $50 voucher

          Have you already processed your payall transfer and got your voucher ?

          • Flowerbomb on 16/10/2020 - 19:21

            @Youi2018: Yeah through the app. The transactions on the app take a couple of days, so it will be processed next week.

            • muncan on 18/10/2020 - 18:07

              @Flowerbomb: I also saw the promo in my app as I was preparing to close my account. There was no mention of the $1500 spend requirement, and didn't receive an email about it either. I scheduled $49.02 to my bank (+$0.98 fee) for 27/10. No idea what the eVoucher is for (no details in the app) so I was hoping the $50 would be credited into my account. But sounds like it's a Myer/Woolworths/Bunnings voucher from comments above. Promo link has disappeared from my app now that I've scheduled a payment.

              • Flowerbomb on 18/10/2020 - 18:50

                @muncan: Yeah it’s a giftcard, also includes Jbhifi. They sent me a text saying that I should make sure that I have “available balance on my card ending XXX for billing on 23rd oct”.

                I assume they mean enough credit limit on the card to bill $1. Then it will be part of the monthly statement. Will update soon.

        • Youi2018 on 05/11/2020 - 09:30

          Did you end up getting the $50 voucher ?

          • Flowerbomb on 05/11/2020 - 09:56

            @Youi2018: Hey it might take Citi 90 days to issue the voucher, just like they mentioned in their free $500 voucher.

            The $50 payall voucher still hasn’t arrived and I did the payment 3 weeks ago.

        • kenneth88 on 05/11/2020 - 09:50

          keen to know too

  • coolsteps on 01/11/2020 - 17:37

    ref terms it needs to be paid in october and a 7 working day payment window from setup date. i set up it yesterday on the last day of promo but the first one off payment date wont kick in until Nov 10th. will i still qualify for the gift card or am i best cancelling it ?

  • Iwantthatbargain on 08/11/2020 - 11:39

    Has anyone received the eVoucher? I think it may take 10 weeks

  • mrshorty on 20/11/2020 - 17:31

    Looks like this promo is back - just got a sms from Citi about it

    For those that got the voucher, was it worth the $30 in fee?

    • ruddj on 20/11/2020 - 21:47

      Still waiting on voucher

  • Hargain Bunter on 27/11/2020 - 16:09

    Found the offer was available in November too, but after filling in details the earliest it would process the payment was 7 December which doesn't seem like it would qualify. Hopefully that didn't burn other people.

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