[TARGETED OFFER] Citibank Plus 3% Cash Back on Paywave Transaction till 31 Aug 2015

Moved to Forum: Original Link

You'll get 3% cashback (up to $500 per month) on your Visa payWave purchases until 31 August 2015, when you deposit $2,000 or more per month into your Citibank Plus account1.

MOD: This deal has been moved to the forum as a targeted offer and the previous 5% cashback post merged into this deal see here. We (and users) have been informed by Citibank that "This offer is only available to existing customers who have been emailed directly with the offer." & "There is currently no cashback offer for new customers available." Existing customers may receive an offer and those offers will vary (3% cash back, 5% cash back, $2000 deposit, no minimum deposit etc). As this offer is not available to new customers and only available to existing customers who receive the targeted offer it has been unpublished as a deal but moved to the forum so discussion can continue. Thanks

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Comments

  • +2

    Not as good as MEBank 5% off but thats only for new customers so I can't get that and this is better than 2% rebate than ING. After Aug will switch back to ING

    • +2

      Is this for new customers or can existing customer get this deal as well? I already have a Citibank Plus card that I use for overseas travel.

      • This is for existing customers as well. I am a existing customer and got a email about it and citibank page doesn't mention new customer only

        • +3

          I'm an existing customer and haven't received an email.

          I emailed them on Monday asking if I was still eligible for some form of cashback. No response yet.

          In any case ING cashback is better even at the lower rate as it is instantaneous cashback.

    • +1

      we does it say anything about new customers in t&cs?

      downside is it says it takes up to 2 months to get the cashback …

  • +2

    T&C

    Cashback amount is capped at $500 per month. The cashback offer applies to Visa payWave purchases under $100 that are made in Australia. The cashback offer will apply when at least $2,000 is deposited into an eligible Citibank Plus account from a non-Citibank account by the last day of the calendar month. The cashback amount received will be based on the cashback percentage of 3%. The cashback will be made into the relevant Citibank Plus account (from which the Visa payWave purchases were made) within the next two calendar months. The cashback offer will be valid until 31/08/2015

    • +4

      For a $500 total cashback you would need to be spending $16666.50 per month elusively on Paywave transactions which are under $100.

      At the maximum $99.99 each that would be at least 166 transactions. Who is going to be shopping like that each month? And if you had that amount of money to blow you should use an elite credit card with interest free terms offset by a high interest savings account.

      • +2

        Side note: Gentleman's clubs are the best place to be elusive about it.

  • +1

    I got offered by email 5% cashback with Paywave on the Citibank DC. No minimum deposit. Probably targeted.

    • Yep, also got offered 5%. I haven't used mine for a very long time…

      • Yeah, that must be why. :D

        • Same. Might give it a go for this.

    • Lucky!

    • You have to deposit $2000 per month.

      For three months, from 1 June to 31 August 2015, you will receive 5% cashback (up to $500 per month) on Visa payWave purchases under $100. All you need to do is deposit $2,000 or more per month into your Citibank Plus account.

      • No mention of that in the email I got or any links that I could find. The link to the details that I got appears to be targeted, it has a query portion of ?cid=XXX

        However on closer reading, this caught my eye:

        If you are a resident of Australia for the purpose of Australian income tax, then you should include cashback amounts received in your assessable income in your Australian income tax return.

        This means that the value of the cashback is reduced by the marginal tax rate.

        • +1

          If they are giving the cash back as "bonus interest", then this deal is not as good as ING

        • @forumninja: plus many, almost decided on switch over

    • Details of minimum deposit are not in email, but link in email.

      • Can't find anything about $2000 in any linked document.

        • You may be lucky. I'd say all links contain that targeted cid=xxx.

          My link starts…
          5% cashback
          You'll get 5% cashback (up to $500 per month) on your Visa payWave purchases until 31 August 2015, when you deposit $2,000 or more per month into your Citibank Plus account

          T&C at bottom with that "pay the tax on the cash back" details. If it's not there, then no deposit necessary. Of course people already depositing their pay etc in excess of $2000 probably won't get the requirement.

        • @brucefromaustralia: The fancy web page I was directed to has this:

          How does the Cashback work?

          Every month you'll get 5% cashback (up to $500 per month) on Visa payWave purchases, until 31 August 2015*1.

          and footnote 1 reads:

          1. Cashback amount is capped at $500 per month. The cashback offer applies to Visa payWave purchases under $100 that are made in Australia. The cashback amount received will be based on the cashback percentage of 5%. The cashback will be made into the relevant Citibank Plus account (from which the Visa payWave purchases were made) within the next two calendar months. The cashback offer will be valid until 31/08/2015. Should this offer be used in a manner that is not satisfactory or in line with the intent of the offer, we may refuse to apply the rebate to any or all purchases, or reverse the amount of the cashbacks. Not valid in conjunction with any other offer. If you are a resident of Australia for the purpose of Australian income tax, then you should include cashback amounts received in your assessable income in your Australian income tax return. This does not constitute taxation advice. You should seek your own independent taxation advice taking into account your circumstances.
        • @greenpossum:
          Ok, you've shown us yours, so I'll show you mine;-)

          1. Cashback amount is capped at $500 per month. The cashback offer applies to Visa payWave purchases under $100 that are made in Australia. The cashback offer will apply when at least $2,000 is deposited into an eligible Citibank Plus account from a non-Citibank account by the last day of the calendar month. …

          My account is only in use when I travel overseas, so no regular deposits. I have no other Citibank accounts.

          Those factors probably influence offer. After all Citibank is trying to train us to use their service - regularly.

        • @greenpossum:

          My footnote 1 is the same as yours greenpossum!

        • +1

          @brucefromaustralia: Same here, but I use it so rarely that the last trip I found it the card was disabled and I had to call them to reenable it. I also had an incredible time that incident, here's what I blogged:

          Incredible hassles with bank

          I decided I'd use the debit card of a bank, which will be unnamed here, to withdraw money while overseas. So I transferred money into the account in preparation.

          Wednesday:

          Went to an ATM, tried to withdraw money but got rejected. There was a service counter nearby so I asked for help there. They thought my account might have been deactivated because it had been idle and put me through on a phone to their call centre.

          Call centre said that they had reactivated the account. Later I found out that what they did was make a $1 transaction between the two linked accounts in my account.

          Thursday:

          Tried to use the card again. This time not only was the transaction rejected but the ATM captured the card. Called up their call centre and they assured me that new card was on the way.

          Went home and found a new card in my mailbox with new features like chip and Paywave. They couldn't have responded that fast and in fact the cover letter was dated several days before. So I assumed that the call centre knew a new card was on the way. Activated it by phone call to the call centre. But one troubling thing was that when I went to set my PIN it showed me a different last 4 digits. Sent internal query to their helpdesk about this discrepancy.

          Friday:

          Tried to used the card in an ATM again. Again rejected but fortunately card not captured because the ATM design didn't take in the whole card but simply read it and asked for it to be removed.

          Went to service counter where they suggested that I choose Savings instead of Cheque. Same result. Suggested I go to the main office just across the street.

          Again put through by phone to the call centre. Finally got passed to a rep who gave the whole story. This is the actual sequence of events:

          Bank sent out new card, call it card B, with new features.

          Not knowing this, on Wednesday I tried to use my old card, call it card A. Fail.

          On Thursday I tried to use card A again and it got cancelled and captured perhaps because of too many failed attempts. Called service centre right away.

          Bank arranged to send out replacement card, call it card C.

          I found card B in my mailbox and called them to activate it. However what they activated was card C, which accounted for the discrepancy in last 4 digits when setting the PIN.

          On Friday I tried to use card B, which unknown to me had been deactivated because card C had been activated. Fail.

          I talked to the call centre. You would think that I could just wait for card C in the pipeline and start using that. But unfortunately their procedures require them to deactivate card C because I have already activated it and someone intercepting it could use it. They can't simply block it temporarily. So they have to send out card D, which they promised to expedite.

          So the upshot of it is that I end up with 3 cards, B, C, and D, of which only the last works. I really hope card D arrives in time for my trip.

          So it was an unfortunate "race condition" as they say in computer science for steps 1 and 2. If there was a point at which the mistake could have been caught it would be the call centre operator at step 5. He should have double checked that the card in my hand was card C. Maybe if I had done this online, the website might have showed me the card number and I would have discovered the discrepancy. Also if I had been calmer at step 3 and waited until I got home, then I would have seen card B and not triggered the sending of card C. But how was I to know that there was a new card waiting for me at home that evening?

          Tuesday, update 1:

          Received card D today and activated it online. (Card C arrived on Monday and I put it aside.) The webpage showed me the last 4 digits of the number of card D so I knew I was activating the right one.

          As I wrote above, if I had done the activation myself online, the mistake would not have gone so far. But neither the card nor the cover letter mentioned online activation. Next to try it in an ATM.

          Wednesday, update 2:

          Finally tried it in an ATM (one that reads the card then allows it to be extracted, to be on the safe side) and managed to withdraw a sum of money. Let's hope it works overseas too.

        • @greenpossum:
          I feel your pain/anxiety :-(

          My overseas experience seems minor, but was still worrying. 28degrees card was suspended at end of 4 weeks holiday in Japan.

          Inserted card to grab cash for bus to international airport from small town. Card was eaten. The anxiety - minutes to spare before last bus left! Used phone to call for help - I'm used to that in small places. Manager appeared from bank, requested passport, underling sent for ATM key, card given back with mutual bows.

          Insert card in second ATM. Repeat of first problem. Manager respectfully asks if I might have another card… at the bottom of each receipt was in English that my card had been suspended.

          On my return I got up 28degrees/ GEmoney. I had rung before trip to notify I would be in Japan. They apologised profusely, compensated me for my financial costs, and some for my inconvenience. Not bad in 1 call ;-)

          I always assume problems, so also got the Citibank debit card, have an additional card on most accounts in a non-travelling family member's name, and always have some local & au$ cash. Now check cards work long before departure, but not much can be done after leaving Australia.

    • ditto. Rarely use it :)

  • You can use Visa paywave overseas cant you? Nice when combined with Citibanks fee-free international transactions.
    Ah never mind I just saw it's only for paywave within Australia :-(

  • +2

    Up to two months to credit the cashback? Sigh…

  • +1

    Not a bad deal. I hold onto this account for travelling. God I love ING though. 2% back for well over a year now, and no fees at any ATM. Plus their internet banking is miles ahead of Citibank's.

  • 1 extra % over ing…. hmmmm

  • Add 0.25%p.a for interest cashback

    • Deduct the income tax that you would pay on the cashback and the interest you earn on cashback ;)

  • It takes forever to transfer cash in and out of CB though..takes about 48hrs generally for me unlike other banks usually within 24 hours..bit painful to transfer $2000 in and out every month

    • -1

      LOL @ Clicking a button being so painful

      • +1

        lol no is the waiting..especially if finances are tight

  • Targeted offers of different percentages & minimum deposits.

    I got the 5% until 31 August email.
    Min deposit of $2000 by end of month for 5% cash back claim in that month.
    Max $500/month cash back. Paid up to 8 weeks after purchase.

    Details are not in email, but link in email.

    So spend now with cash back much later, as long as you deposit minimum amount before end of the month.

    Be careful funds are deposited into account by end of each month, or no cash back for you! Citibank can be slow.

    • So you can spend now expecting rebate to come in later, as long as you deposit before end of month?

      • Thats in the t&c.
        And why it takes so long to pay out. A purchase today may only be considered for cash back next month (after they know you deposited the minimum amount), & paid out as late as the following month.

  • I have my salary deposited into my Plus account (which I transfer to the Online saver) — is that good enough or does it need to stay in the Plus account?

  • does anyone know if you still need to go to the post office in person to verify for new accounts?

    i would like a zero fee card for international stuff :D

  • So since some get 5% and others 3% this may be a targeted offer.

  • I didn't get the offer by email so suggest this is targeted and should be highlighted as such. We don't want poor souls spending their hard earned cash and then not getting any cashback!

    Please correct me if I am wrong and you have confirmation that this is not a targeted offer but available to all account holders.

    • Check the link of the deal. 3% is not targeted.

      • Has the bank confirmed this with you?

        • The link is a page from citibank website so as long as anyone can see it, it is not targeted. You can save it as evidence.

  • I will stick with ING and ME Bank. Who will go through hassle of $2000 deposit and out for 1% extra for just 3 months.

    • same here… last month I got $14 cash back from 2% ING, so probably will only gain about $20 for three months for all of the hassles… plus need to wait for 2 months for the money back…
      But maybe it's good for someone without ING card.

      • I don't think there is ANY ozbargainer without an ING card.

        • +1

          OzBargain should market a membership kit: ING card, Eneloops, etc. LOL

  • If it is just 3%, I agree with most of you that I will stick with ING…

    Instant cashback and ATM fees waived.

  • Merged from Citibank Debit Card 5% Cashback on Paywave with $2000 Deposit Per Month (Existing Customers)

    I have a dormant Citibank Plus account and the debit card. It was opened before they were offering the 5% cashback. Today I received below email that offers me three months of 5% cashback. I don't know if it is targeted or generic but here is the detail.

    Happy 5% cashback to you!

    Great news! We have an exclusive offer for you that will have you reaching for your Citibank Debit card again and again, enabling you to save money on all your everyday purchases such as groceries, petrol, travel, restaurants and much more!
    For three months, from 1 June to 31 August 2015, you will receive 5% cashback (up to $500 per month) on Visa payWave purchases under $100. All you need to do is deposit $2,000 or more per month into your Citibank Plus account.

    Important Information
    View the Terms and Conditions (Adobe PDF, 356kb)
    View the Schedule of Fees and Charges (Adobe PDF, 189kb)
    1. Cashback amount is capped at $500 per month. The cashback offer applies to Visa payWave purchases under $100 that are made in Australia. The cashback offer will apply when at least $2,000 is deposited into an eligible Citibank Plus account from a non Citibank account by the last day of the calendar month. The cashback amount received will be based on the cashback percentage of 5%. The cashback will be made into the relevant Citibank Plus account from which the Visa payWave purchases were made within the next two calendar months. The cashback offer will be valid until 31/08/2015. Should this offer be used in a manner that is not satisfactory or in line with the intent of the offer, we may refuse to apply the rebate to any or all purchases, or reverse the amount of the cashbacks. Not valid in conjunction with any other offer. If you are a resident of Australia for the purpose of Australian income tax, then you should include cashback amounts received in your assessable income in your Australian income tax return. This does not constitute taxation advice. You should seek your own independent taxation advice taking into account your circumstances.
    2. Conditions apply. Visit citibank.com.au/dine
    Citibank Plus is issued by Citigroup Pty Limited ABN 88 004 325 080, AFSL No. 238098, Australian credit licence 238098. Any advice is general advice only. It was prepared without taking into account your objectives, financial situation, or needs. Before acting on this advice you should consider if it's appropriate for your particular circumstances. Details on our dispute resolution system and full details of the terms and conditions are available by calling 13 24 84 or at citibank.com.au.
    To Contact Us
    Please do not reply to this email. If you have any questions please visit citibank.com.au/contactus
    Online Security
    Citibank regards the security of your personal information of utmost importance. If you receive a suspicious email or one requesting sensitive information such as your account number or PIN, do not open any attachments and report it to customer service on 13 24 84 or at +612 8225 0615 when overseas. You can learn more about Citibank Online Security at www.citibank.com.au/onlinesecurity
    To Unsubscribe
    This email was sent by and authorised by Citigroup Pty Ltd (Citibank) 2 Park Street Sydney, NSW, 2000, Australia. If you do not wish to receive any emails, with offers or information related to Citibank, please reply to this email with the word "Unsubscribe" in the body text (do not amend the subject title on the reply email).

    © 2015 Citigroup Pty Limited ABN 88 004 325 080, AFSL No. 238098, Australian credit licence 238098.
    Citibank®, Citi® and Arc Design® are service marks of Citigroup Inc.

      • I think this one is 2% higher than the previous post ^_^;

        *mod have edited

        Mod: Some existing users have reported receiving a 5% offer via email as well as this 3% off. It is unclear if all existing customers receive the 3% cashback as a minimum, we can also not be sure at this time if this offer is meant for new customers or only those existing customers it is sent to (whilst the link is accessible to all, it might have not been meant for all). Please contact Citibank for clarification and/or see comments for further information as it comes to hand & proceed at your own risk. OP/PU's feel free to edit/remove this message as appropriate.

        yeah its a repeat

        • Some of us were even offered 5% without the deposit condition. Anyway the discussions should probably be merged under one deal.

        • Yeah I realised that after I posted that this one is 5% and the other was 3%. Talk about confusing by Citibank!

    • +2

      Their mobile app is appalling. It's the only thing stopping me from joining Citibank

    • When I click their "learn more" link https://citibank.com.au/pay/?cid=EM-CPA-5CB2K-RET52015, it brings me to 5% cashback with $2000 deposit. Did anyone have a different cid, maybe like cid=EM-CPA-3CB-RET32015

      • Yeah, so my 'learn more' link takes me to this page (https://citibank.com.au/wave/) that says:
        5% cashback

        You'll get 5% cashback (up to $500 per month) on your Visa payWave purchases until 31 August 2015.

        Your's takes me to a page that says:
        5% cashback

        You'll get 5% cashback (up to $500 per month) on your Visa payWave purchases until 31 August 2015, when you deposit $2,000 or more per month into your Citibank Plus account1.

    • +2

      I just spoke to Citibank online chat and have been told , you only get the cashback if you have been sent the email.

      Which sucks as I didnt get one …

  • +1

    Citibank's phone service, internet banking, and phone app are all a complete joke (read completely useless to the extent they might as well not exist). I have one of their cards for the sole purpose of withdrawing cash overseas. While I'm at home it sits dormant with a balance of $0.01.

  • Never got this offer, maybe because I only ever used ot bank account for a few weeks overseas

  • I frequently use my C Plus ATM card and did not get the offer. Reinforcing the idea that this offer is going to those accounts that have not been used much.

  • A little off-topic perhaps, but can somebody tell me whether Aldi will charge me a fee if I use paywave?
    I've been inserting card, selecting savings, entering PIN etc - it's like a dozen keystrokes more than paywave, but I thought I'd be hit with a card fee if I paywaved??

    • PayWave / PayPass / Tap&Go are all transaction from you credit account, so yes you will pay the 0.5% fee to ALDI. But with all these cashback offers, you are still in the winning position when doing PayWave from credit account.

  • My sister got the email offer, but I didn't. But I have also the free for life signature card, whereas she doesn't. Do you need to do the $2000 deposit before you make the purchases?

  • Hmm, always wondered if these cards were worth signing up for. I only have a 28deg and bank visa debit.

    Planning on buying new appliances for the home for around 4-5k total in 2-3 weeks. Would it be worth signing up for any specific card for this? even flybuys?

    • Worth it if you can split up the payment into <$100 amounts and/or layby it so you can come in multiple days and pay off $90-$99 at a time. If you haven't had practice it might be hard to convince the person behind the register to do this.

      Most points based schemes including flybuys are lucky to get you an equivalent 1% back, most low-annual-fee cards sit around the 0.3-0.9% mark when converted into plain money gift cards.

      If you want the most cashback on a debit transaction card and haven't ever had a MEBank account, they're still offering the 5% for 6 months but they don't have an active signup bonus at the moment, like ING does/did or like credit card offers.

      You might find that the signup bonus for a new CC (e.g. the current offer of a $100-150 voucher and first annual fee waived for the woolies CC) outweighs any cashback you might get in 3 or 6 months. If you're in a position to be approved for a new CC then worth looking and doing the math.

      Lots of other disclaimers and conditions which I won't even attempt to cover here. Reading expired ozb threads is a good idea if you have the patience. Good luck, hope this helps!

  • Has anyone actually received any cashback?
    I got the email offer, which offered 5% cashback on paywave for 3 months, didn't say anything anywhere about any requisite deposit requirement.
    Just said that all I had to do was use my card with paywave. No activation required.

    I didn't abuse it or anything, but would've racked up about $50 worth of rebate in june and have yet to receive a dime from citibank. The T&C does say it's payable in july, and july isn't over yet.

    • No cashback yet. Seems i was conned

      • +1

        The T&C I'm reading say 'The cashback will be made into the relevant Citibank Plus account (from which the Visa payWave purchases were made) within the next two calendar months from the date of transaction.'… so I guess this means could still be beginning of September???

  • +1

    I received the email for the 5% cashback without the need to deposit $2000. It said that the cashback would take 8 weeks. However, I made several paywave transactions in June and to date have still not received any cashback. I contacted Citibank today and the cso told me the only offer that she could track was with a $2000 requisite monthly deposit. When I persisted that this was not mentioned in the email, nor even in the T&C link, she suggested that I forward the email to her supervisor. I have done this & await their response. I will update when this happens. Hope this isn't a con.

    • Interested to hear the follow up, since a few of us got this email not mentioning the deposit…

  • They are not big on responses. I did get one missed call yesterday - but it was a "private" number. Whoever it was didn't try to call back and it may not even have been Citibank.
    I called them back today and got a different cso. There was a note on my file saying that I would be getting the cashback but will have to wait for an SMS first!!?? I asked when this might occur as it has already been over 8 weeks since my first 4 paywave transactions. He went away & came back advising that it happens in batches & will be some time in September. Considering the offer said the cashback would be made "WITHIN the next 2 calendar months", I think this is pretty poor.
    I get the distinct impression that if I hadn't phoned querying my lack of cashback, then I wouldn't have been getting anything at all. I guess they have now done a mad scramble to get me "on the program". Bit annoying, but providing they come through with the goods, then I won't complain any more than I have here. I just won't consider their "incentives" really worth all the effort & hoop jumping, in future.

  • +1

    Just letting you know that I received my cashback for June today. I was on the 3% offer without the $2000 deposit threshold.

    • I also received it!

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