Login Now to remove this and all advertisements (GOLD and SILVER members)
Not a member? Register Now for free

Earn points on Bank Transfers

Flashback

Enthusiast
Joined
Oct 29, 2006
Messages
10,591
Flights
My Map
Just received this notification from Citibank.

We are continually finding ways to improve your experience and have made some important changes to your Citi credit card.

Please click on the link below for updates to both your existing Credit Card Terms and Conditions and Other Important Information and your Citibank Rewards and Citibank Qantas Rewards Program Terms and Conditions for Citibank Rewards Credit Card - Classic, Citibank Gold Credit Card and Citi Rewards Card Cardholders.

Effective 1 May 2020, some of the key changes are as follows:
We will be introducing a new credit card feature called Citi PayAll that allows you to make payments from your credit card to an eligible BSB and Account number within Australia. You will also receive reward Points on these transactions.


Could be interesting, although I suspect it will be quite limited in how much this could be used for gain.
 

Kimster

Member
Joined
Sep 10, 2011
Messages
134
If there is no fee -(which is what I think it is reading through T&A's) - we'll earn 1 ppd. Game changer???? for payments that we can make for payments that have a BSB and Account number.......or not?
 

Kimster

Member
Joined
Sep 10, 2011
Messages
134
2% international fee reading through again!!!! could be attractive - may be for forex through third party. 1 ppd certainly for domestic transfers with no fee
 
Last edited:

Flashback

Enthusiast
Joined
Oct 29, 2006
Messages
10,591
Flights
My Map
In the old days you could BPAY and earn points, that was shut down a long time ago though.
 

theblank

Established Member
Joined
Aug 3, 2014
Messages
1,443
2% international fee reading through again!!!! could be attractive - may be for forex through third party. 1 ppd certainly for domestic transfers with no fee
Its not an International fee, 2% is the fee.

1 citibank ppd ( = 0.5 VFF ppd) at a cost of 2% is not a good deal, if your end game is to get points. Its cheaper to buy the VFF direct from Virgin. But if someone needs to do a cash advance because they are short of dough, its a better deal for them than a cash advance (for a month)
 

oz_mark

Enthusiast
Joined
Jun 30, 2002
Messages
18,596
Flights
My Map
So What stops me xfering to my account, getting points, paying card from said account.
Rinse / repeat ?
Nothing, although seems little points if you have to pay a 2% fee. I can see some use in the product, but doing it specifically for the points = I may pass.
 

Kimster

Member
Joined
Sep 10, 2011
Messages
134
Its not an International fee, 2% is the fee.

1 citibank ppd ( = 0.5 VFF ppd) at a cost of 2% is not a good deal, if your end game is to get points. Its cheaper to buy the VFF direct from Virgin. But if someone needs to do a cash advance because they are short of dough, its a better deal for them than a cash advance (for a month)
My bad.... 2% is the fee. Not even worth a look at that rate then.
 
The Qantas Premier Platinum Card delivers up to 100k Qantas Points, 75 bonus Status Credits, complimentary lounge invitations and travel insurance. All this with a reduced first-year annual fee of $199.

Recommended by the Australian Frequent Flyer

AIRwin

Established Member
Joined
Apr 13, 2013
Messages
3,610
Qantas
Gold
Virgin
Gold
Flights
My Map
Received another notification on this from Citibank today - has it only just launched?

We have introduced a whole new way to pay and earn Citi reward Points1 using your Citi Premier Card with Citi PayAll.2

With Citi PayAll, you can set up your rent, taxes, education fees, property management fees, childcare, miscellaneous bills and more. And the good news is that the number of points you will earn is uncapped.3

Set up single or regular Citi PayAll payments by transferring to recipients with a registered BSB and account number held with an Australian financial institution. You will earn 1 Citi reward Points per $1 spent each time you transfer.

You will be charged a 2% PayAll fee of the Citi PayAll amount.4

This feature is available now in the Citi Mobile® App.
 

theblank

Established Member
Joined
Aug 3, 2014
Messages
1,443
Received another notification on this from Citibank today - has it only just launched?
no, they are just promoting it, like they promote anything else.
i lost count how many times a month the offer to pay off my credit card at x % over x years
 

Community Statistics

Threads
86,433
Messages
2,089,836
Members
53,795
Latest member
AliceHolli
Top