Just received an email today regarding my Citibank Online Cash Manager.
The Citibank Online Cash Manager account is an internet savings account (but also has a ATM card). The interest rate is similar to the other online savings accounts (eg. ING Direct) but the good thing with this account is that it also includes an ATM card so if you need funds urgently, you can withdraw some immediately at an ATM.
Well today they said in their email that they are changing the overseas ATM withdrawl charge from a flat $4 to 2.5% of the value. I usually use this card overseas as it has a high daily withdrawl limit ($3000). With this new fee, instead of paying $4 or $8 (if i need to do it in 2 transactions), i would pay $75.
When withdrawing from savings/cheque accounts, the overseas ATM charge is virtually always a flat fee. I have never heard of it being a percentage like with a credit card.
Looks like with the other dramas going on with other people with Citibank, and my feeling of never trusting them, I might look for another alternative.
The Citibank Online Cash Manager account is an internet savings account (but also has a ATM card). The interest rate is similar to the other online savings accounts (eg. ING Direct) but the good thing with this account is that it also includes an ATM card so if you need funds urgently, you can withdraw some immediately at an ATM.
Well today they said in their email that they are changing the overseas ATM withdrawl charge from a flat $4 to 2.5% of the value. I usually use this card overseas as it has a high daily withdrawl limit ($3000). With this new fee, instead of paying $4 or $8 (if i need to do it in 2 transactions), i would pay $75.
When withdrawing from savings/cheque accounts, the overseas ATM charge is virtually always a flat fee. I have never heard of it being a percentage like with a credit card.
Looks like with the other dramas going on with other people with Citibank, and my feeling of never trusting them, I might look for another alternative.