Earn points on Bank Transfers

[Legoman]

Yes, ubank web site is cough, but which bank isn't?

Macquarie. In the context of retail banking in Australia (which is a very low bar to rise above), Macquarie are by far and away the best. To the point that daylight is second. They have by far and away the quickest, easiest, least annoying and most reliable 2FA security token app thing of any bank in Australia. They pay interest on transaction accounts, they have the second highest interest rate of anybody bar none, their website is never down for maintenance, is logical, easy to understand and use and has a myriad of features if you care to enable them, or if not, then you can also just as easily discard them from view and make it simple and basic. For an Australian bank, it ticks more boxes than anyone else. Best of all, they're not owned by NAB… yet.

 

[Chicken]

Macquarie

Macquarie just removed EFTPOS network from their cards, so you cannot even use your transaction account over the EFTPOS network?

Don't know about you, but that to me sounds like a crippled product, like selling a car without wheels.

 

[Legoman]

They didn't "just" remove it. Their cards haven't had EFTPOS for a couple of years. EFTPOS is not the be all and end all of banking in Australia. Yes, it's a very minor inconvenience that one has to be aware of, but in reality in my world it makes no difference whatsoever. I keep a $300 float in my GSB transaction account for the very infrequent times I am faced with a retailer who wants to incentivise me to never come back with a card surcharge. That amounts to my barber, ALDI and… umm… I can't think of any others right now.. Far from being like a car without wheels, it's more like a car without a cigarette lighter element sold to a non-smoker. I can live with that

 

[Chicken]

They didn't "just" remove it. Their cards haven't had EFTPOS for a couple of years. EFTPOS is not the be all and end all of banking in Australia. Yes, it's a very minor inconvenience that one has to be aware of, but in reality in my world it makes no difference whatsoever. I keep a $300 float in my GSB transaction account for the very infrequent times I am faced with a retailer who wants to incentivise me to never come back with a card surcharge. That amounts to my barber, ALDI and… umm… I can't think of any others right now.. Far from being like a car without wheels, it's more like a car without a cigarette lighter element sold to a non-smoker. I can live with that

I have been trained back from like the late 90s and 2000s, when bank fees were crazy, and transaction fees were usually free or 40c via EFTPOS instead of $1.5 using ATM, and I got trained by the banks to draw cash from Coles and Woolworths as they process cash out via EFTPOS network.

Also, there is now hardly any ATM on the streets, so I also draw cash out from Colesworth. It's sometimes easier to find a Colesworth than finding an ATM.

Hence, I consider a card without EFTPOS network useless to me. But that's just me.

Again, I actually have Suncorp as well, which has $0 monthly and 0% forex commission, so I don't need Citi Plus. I just don't take it personally, a bank is a bank, a bank is not a friend, they are just here to do business, and I'm just here to do business.

 

[Flashback]

I have been trained back from like the late 90s and 2000s, when bank fees were crazy, and transaction fees were usually free or 40c via EFTPOS instead of $1.5 using ATM, and I got trained by the banks to draw cash from Coles and Woolworths as they process cash out via EFTPOS network.

Also, there is now hardly any ATM on the streets, so I also draw cash out from Colesworth. It's sometimes easier to find a Colesworth than finding an ATM.

Hence, I consider a card without EFTPOS network useless to me. But that's just me.

Again, I actually have Suncorp as well, which has $0 monthly and 0% forex commission, so I don't need Citi Plus. I just don't take it personally, a bank is a bank, a bank is not a friend, they are just here to do business, and I'm just here to do business.

Yes, it's not like the old days where you might keep an account for decades. Switch and ditch!

 

[Legoman]

Gumtree is my ATM these days. On the very rare and infrequent occasions I need to use cash, I sell something I don't use anymore on Gumtree and get the cash that way! No fees!

 

[Chicken]

Gumtree is my ATM these days. On the very rare and infrequent occasions I need to use cash, I sell something I don't use anymore on Gumtree and get the cash that way! No fees!

There is a fee, it's called your lifespan (dealing with no shows and trying to bargain your $10 item to $3)

 

[Legoman]

There is a fee, it's called your lifespan (dealing with no shows and trying to bargain your $10 item to $3)

That is too true! People on Gumtree can be ridiculous to deal with for sure. Fortunately it's very infrequent for me which protects my sanity just enough to forget the previous experience enough before I try again. The ghosting and attempted scams and bargaining to save 50c can be out of control on Gumtree, but equally, sometimes you get a buyer who doesn't want to negotiate at all, just comes around with the right cash, and goes away never to be seen again. Those are the minority though, I do admit.

 

[Phoenix-1]

Did they remove the option to set up payments after 2023?

 

[aikman]

Did they remove the option to set up payments after 2023?

That is correct, they removed it just over a week ago.

 

[encryptededdy]

Yes, it's a very minor inconvenience that one has to be aware of

For me it's annoying since I can't use Beem, but other than that I agree with you about Macquarie.

 

[Brissy1]

Received an SMS from Citi, 0% offer ends 31 Oct; 0.95% charge for Payall from 1 Nov

 

[Happy Dude]

Party's over..... dang it.

No clarifications or exclusions for Payalls already set up during the promotional offer, or the new fee applying only to Payalls set up on or after 1 Nov 2023. simply "each time"

 

[chillybags]

Party's over..... dang it.

No clarifications or exclusions for Payalls already set up during the promotional offer, or the new fee applying only to Payalls set up on or after 1 Nov 2023. simply "each time"


View attachment 344812

Still a bit confusing to me because the current words are exactly the same just with 2% changed to 0.95% - yet obviously it doesn’t apply right now.

Post automatically merged: Sep 22, 2023

Party's over..... dang it.

No clarifications or exclusions for Payalls already set up during the promotional offer, or the new fee applying only to Payalls set up on or after 1 Nov 2023. simply "each time"


View attachment 344812

Still a bit confusing to me because the current words are exactly the same just with 2% changed to 0.95% - yet obviously it doesn’t apply right now.

 

[konvul]

The PayAll FAQ page still has:

For all Citi PayAll payments set up between 1 April 2021 to 31 October 2023 (the Period), the Citi PayAll fee will be reduced to 0%.

Any recurring Citi PayAll payments set up during the Period will not incur the Citi PayAll fee for the duration in which those payments are scheduled to occur. Any recurring Citi PayAll payments set up prior or after the Period will be charged the standard Citi PayAll fee of 2% of the amount of the Citi PayAll payment. This fee will apply to all recurring payments made for the duration in which those payments are scheduled to occur.

And also:

4. The Citi PayAll fee is currently 2% and is part of your Terms and Conditions including your Financial Table. This fee is set at the point of scheduling your Citi PayAll payment, applies for the duration the Citi PayAll payments are scheduled and is charged to your account each time a Citi PayAll payment is made. The promotional Citi PayAll fee of 0% commenced from 1 April 2021 and will end on 31 October 2023. Effective as of 1 November 2023, the Citi PayAll fee will change to 0.95%. For more information please refer to Citi PayAll fees by visiting Citi Credit Card Fees and Charges (citibank.com.au).

Tl;dr: It’s confusing but I think the only thing that is changing is the normal 2% fee is becoming 0.95% from November 1. However the fee is set from scheduling so unless Citi say otherwise - any PayAll set up before 31 October should still be 0%.

 

[wombatcountry]

If I decided to get rid of my citi rewards on Oct. 31st because of the Payall change, do I get a prorated refund of the annual fee?

 

[Legoman]

What needs to happen is for someone to let their pre-scheduled payment go ahead after Nov 1 and then report whether the fee was charged or not and let everyone know. This is the only way we'll know for sure because you can bet your life no-one will get a clear and straight answer from the Citibank Philippines call-centre staff and anything they tell you won't be enough to argue for a reimbursement anyway.

 

[SOPOOR]

There is a fee, it's called your lifespan (dealing with no shows and trying to bargain your $10 item to $3)

Oh my god that gives me ptsd,
Getting $30 cash would involve me speaking to 5x oil rig army personnel, 10x fake payid reciepts and 5x fake paypal reciepts

 

[SOPOOR]

So question: i set my payall up about a year ago. Ill need to check but i think i setup 3 in total going up until 2028 or something like that. Given how sensitive banks are with not paying off fully or going to credit, billing cycles (also its confusing me as when we setup the payall we put the card into credit permanently by a few $1000 as the billing cycle was ambiguous etc. Ive stopped using this card completely also because if the card g
Has a unauthroised transactions i dont wsnt them to reissue a new card=auto cancelling payall

Given the fee introduction. Should i adjust or add in another one to last me further ahead eg 2029?

 

[jetset]

The PayAll FAQ page still has:

For all Citi PayAll payments set up between 1 April 2021 to 31 October 2023 (the Period), the Citi PayAll fee will be reduced to 0%.

I saw that too, but I'm wondering if Citibank has just been lazy and hasn't updated their website?