Move your banking from Citibank

[scroobal]

For the last few years we have had so many stories about Citibank. The Govt intervened and they appointed a local to be head of HR. Yet nothing has changed.

It's time for Singaporean to vote with their feet by moving their banking to other banks in Singapore and there is no shortage of good local and foreign banks. If ever there is choice in Singapore, it has to be in banking.

Here are the steps and all it takes is a bit of fire in your belly, some determination and a bit of time.

1. First get facilities opened in other banks.

2. For desposits, just transfer to your new bank, get the appropriate facilities such as cheques, ATM card, debit card, salary credits, standing orders.

3. For those with outstanding loans, do a balance transfer or use your new loans to pay of the loans with Citibank. Mortgage maybe a bit difficult.

There is no need to close the Citibank accounts, just don't use and they will get the message.

This is civic action and a tested vehicle to force change. It was done against so many MNCs where South Africa was concerned. And that too was about discrimination.

 

[GoldenPeriod]

Citibank should be made to leave the country after a punitive fine. Total Ban.

Singapore is not going to die without 1 Citibank. Others will just take up the slack.

 

[Macroeconomics101]

Here is my story with citibank.

I had a giro arrangement with an insurance company. One day I called citibank to cancel it. The customer exec said it would take 3 to 5 working days. I asked her if I would get a confirmation slip. She said no. I took down her name and noted the time of her call, out of prudence.

One month later, the giro deduction went through. I was angry. I called up citibank and asked why my instruction was not followed. I provided the name of the customer exec and the date/time of the call.

The new customer exec who attended my call checked my records. He informed me that a giro arrangement cancellation was initiated just one day before the deduction was made.

I asked him, how could this be so? The lady who attended my call one month ago said it would be complete in 3-5 working days. How can it be placed just one day before this month's deduction, unless she had forgotten to execute my instruction.

The male customer exec said he did not have answers, and would check on my behalf. He said he will call me back. Once again, I took down his name and noted the time of our conversation. I was getting pissed off. Obviously someone had screwed up and that had cost me real money.

A day later, the same lady who took my first call a month ago called me. She apologized for the circumstances, but then gave an excuse, saying that giro arrangement cancellations can take up to 10 or more working days and furthermore if it placed too close to the actual deduction date, the deduction can still go through.

I told her this is absurd. I pointed out that she told me it was 3-5 working days. I also asked her to explain why the request for cancellation was made one day before the deduction when in fact I called her one month back.

That was when she ran out of excuses. I told her that her excuses and failure to admit she screwed up meant that I have now decided to write in formally to complain.

So I wrote in. Guess what. Citibank sent me a stock reply, essentially apologizing for the misunderstanding, and assuring me it will not happen again. No attempt to at all to apologize for forgetting to execute my instruction. No attempt at all to address the fact I lost money. The entire letter was a cut and paste template with a few words modified.

What made me decide to close all my accounts is not just the failure to follow instructions, but the attempt to cover up by giving excuses and changing story.

 

[krafty]

should ask her out for a bang...

 

[virus]

HSBC isnt gg to be any better eitherr

 

[Satyr]

For the last few years we have had so many stories about Citibank. The Govt intervened and they appointed a local to be head of HR. Yet nothing has changed.

It's time for Singaporean to vote with their feet by moving their banking to other banks in Singapore and there is no shortage of good local and foreign banks. If ever there is choice in Singapore, it has to be in banking.

Here are the steps and all it takes is a bit of fire in your belly, some determination and a bit of time.

1. First get facilities opened in other banks.

2. For desposits, just transfer to your new bank, get the appropriate facilities such as cheques, ATM card, debit card, salary credits, standing orders.

3. For those with outstanding loans, do a balance transfer or use your new loans to pay of the loans with Citibank. Mortgage maybe a bit difficult.

There is no need to close the Citibank accounts, just don't use and they will get the message.

This is civic action and a tested vehicle to force change. It was done against so many MNCs where South Africa was concerned. And that too was about discrimination.

We need a blacklist of companies who operate here but are anti-Singaporean.

 

[McDonaldsKid]

Citibank weren't that bad last time when Larsen was the country head. They became more 'business oriented' after Anil Wadhwani took over.

 

[chongpangchixwings]

I'm not in the know so what did Citibank do?

 

[Boliao]

It's time for Singaporean to vote with their feet by moving their banking to other banks in Singapore and there is no shortage of good local and foreign banks. If ever there is choice in Singapore, it has to be in banking.

Where do you suggest we move our money to? Every single bank in Singapore is flooded with FT, the biggest culprit being our national bank DBS.

 

[McDonaldsKid]

I'm not in the know so what did Citibank do?

'Different' hiring practices, more focused on profitability rather than service.

Have to stress this is what I heard. I might have been hearing from disgruntled employees.

 

[KNNBGCB]

I have never liked Citibank. Rubbish bank. All my money are kept under my bed. Safer.

 

[chongpangchixwings]

'Different' hiring practices, more focused on profitability rather than service.

Have to stress this is what I heard. I might have been hearing from disgruntled employees.

Thanks. I bank with UOB but have little interaction with them . Its just salary going in, various gyros and ATMs and internet banking.

 

[Dark Knight]

Talking about banks.
Any bank be it local or foreign charge their customer for membership fees on their "Debit Card"?

UOB start doing so sometime back, others I'm not so sure maybe disguise under the monthly statement.

 

[GoldenDragon]

I have never liked Citibank. Rubbish bank. All my money are kept under my bed. Safer.

Your address, please.

 

[KNNBGCB]

Your address, please.

407 Upper Changi Road North. I wait for you

 

[GoldenDragon]

407 Upper Changi Road North. I wait for you

Cell number please.

 

[Leckmichamarsch]

I ve done so incl my family members

 

[kiss]

407 Upper Changi Road North. I wait for you

come out... i outside

 

[dr.wailing]

For the last few years we have had so many stories about Citibank. The Govt intervened and they appointed a local to be head of HR. Yet nothing has changed........

Firstly I'm glad I don't have an account with Citibank or HSBC as I'm not highly paid like you.

I've only a bank account and that is opened at POSB.

scroobal: did you know that about 90% of call centre staff of DBS/POSB, UOB, SingTel and Starhub are based outside of Singapore?

Think about it, it makes sense to outsource call centre work to countries whose wages are lower than Singapore's.

Would you advise forummer here to boycott DBS/POSB, UOB, SingTel and Starhub?

 

[halsey02]

Here is my story with citibank.

I had a giro arrangement with an insurance company. One day I called citibank to cancel it. The customer exec said it would take 3 to 5 working days. I asked her if I would get a confirmation slip. She said no. I took down her name and noted the time of her call, out of prudence.

One month later, the giro deduction went through. I was angry. I called up citibank and asked why my instruction was not followed. I provided the name of the customer exec and the date/time of the call.

The new customer exec who attended my call checked my records. He informed me that a giro arrangement cancellation was initiated just one day before the deduction was made.

I asked him, how could this be so? The lady who attended my call one month ago said it would be complete in 3-5 working days. How can it be placed just one day before this month's deduction, unless she had forgotten to execute my instruction.

The male customer exec said he did not have answers, and would check on my behalf. He said he will call me back. Once again, I took down his name and noted the time of our conversation. I was getting pissed off. Obviously someone had screwed up and that had cost me real money.

A day later, the same lady who took my first call a month ago called me. She apologized for the circumstances, but then gave an excuse, saying that giro arrangement cancellations can take up to 10 or more working days and furthermore if it placed too close to the actual deduction date, the deduction can still go through.

I told her this is absurd. I pointed out that she told me it was 3-5 working days. I also asked her to explain why the request for cancellation was made one day before the deduction when in fact I called her one month back.

That was when she ran out of excuses. I told her that her excuses and failure to admit she screwed up meant that I have now decided to write in formally to complain.

So I wrote in. Guess what. Citibank sent me a stock reply, essentially apologizing for the misunderstanding, and assuring me it will not happen again. No attempt to at all to apologize for forgetting to execute my instruction. No attempt at all to address the fact I lost money. The entire letter was a cut and paste template with a few words modified.

What made me decide to close all my accounts is not just the failure to follow instructions, but the attempt to cover up by giving excuses and changing story.

Please take note on any GIRO form you sign, say you owe them $10 & say for 6 mths they "forgot" to deduct, on the 7th month they remember, they will deduct what you owe them, that is $600 + $10 for current month....you have $610 in your account, it will be emptied zero & you do not monitor the account. Soon, you receive notice that your account is below the MINIMUM SUM & fees of $2 or?? will be levied.

As for your case, you cancel the GIRO...you clear your account of any money, except for the least amount in the account $10....do not trust them or any bank to carry out this cancellation on time, they are very sneaky, they want that money, so do not encourage them. If you a re using credit card, with all the evidence, claim that amount back & any interest accrued too.

Use one account for GIRO payments ( if you are forced to), never credit your salary into that account ( NEVER), credit your salary & whatever extra money in another bank's account, one, you never take loan from, have credit cards or anything you have to pay.

Doing banking these days...it is like running a 'guerrilla war'...... if you have more than $25,000...consider keeping the extra in cookie jars at home....especially after the world cup, for all the winning you make from Mr. "X".... ha ha ha & you have time, bank in, in multiples of below $20,000.... banking these is also like running a 'covet' operation....IRAS is watching you.