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5% Paywave Cashback (4 Months) for New Citibank Plus Accounts ($3000 Monthly Deposit Required)

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5% Paywave Cashback (4 Months) for New Citibank Plus Accounts ($3000 Monthly Deposit Required)
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Gotchas on 02/02/2016 - 13:57 citibank.com.au (1147 clicks)
Last edited 03/02/2016 - 13:48 by 2 other users

Min deposit $3000

Summary:

  • Minimum $3000 monthly deposit

  • Maximum $150 cashback per month ($3,000 worth of PayWave purchases)

  • Cashback offer available for 4 months

  • No monthly transaction, international transaction, international money transfer and Citibank Global transfer fees

  1. The 5% cashback is available to customers who apply for their first Citibank Plus account between 1/02/2016 and 31/05/2016 and open the account within 60 business days from application date. The cashback offer applies to Visa payWave purchases under AUD $100 that are made in Australia. The cashback offer will apply when at least AUD $3,000 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% and will be capped at AUD $150 per account per month. The cashback will be paid into the relevant Citibank Plus account from which the Visa payWave purchases were made within the next two calendar months from the month of transaction. The account must still be open for customers to receive the cashback. The cashback offer will be valid for the first four full calendar months after the account has been opened. Customers can still be eligible to receive a cashback in the month the account is opened and this will be treated as a bonus cashback month. 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. Maximum of $150 cashback based on $3,000 worth of Visa payWave purchases under $100, in the month.

  3. Citibank Australia does not charge Citibank Plus everyday account holders a fee when they withdraw funds from an international ATM or use their Visa Debit card to make in-store purchases overseas. Customers may be charged by the third party provider, which Citibank Australia does not control.

  4. The receiving bank may charge a fee.

  5. Citibank Global Transfers available from Citibank Australia to eligible Citibank accounts in selected countries/destinations. Daily transfer limit applies. Funds are converted to the destination account currency at the exchange rate specified to you on Citibank Online before you confirm your transaction. This exchange rate includes a commission for the conversion service. Subject to local regulations, transfers will normally reach destination account immediately, but in some cases may take 24 hours.

  6. 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.

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closed Comments

  • payton on 02/02/2016 - 13:58

    4 months only.

    • illumination on 02/02/2016 - 13:59
      +1

      1 month longer than any other offer available right now (HSBC)

    • supersabroso on 03/02/2016 - 08:41
      +1

      Seems like it's almost 5 months if you apply at the start of a month as it's 4 full months + bonus month?

  • illumination on 02/02/2016 - 13:58
    +3

    Can someone insert full details as posting from iPhone

    Wow you lazy ass.
    J/k
    Thanks for posting!

    Probably add this somewhere too (I can't edit it as I'm not a mod :))

    Each monthly cashback is capped at $150.

  • 89tnp on 02/02/2016 - 15:36

    Signed up last week as I'm going overseas soon. Since I'm loading $3k on it anyway I might abuse this for a month. Otherwise I'll stick to using my amex.

    • xyron on 02/02/2016 - 16:15
      +1

      PayWave only works in Australia as far as I'm aware.

      • ts13 on 02/02/2016 - 17:37

        I have used payWave with my Citibank visa Debit card internationally in the past - within the past two months in Europe.
        Often, pin inserted transactions authenticated without pin (or "approval with signature" but the merchant didn't bother with signatures). I never made a purchase over $100 in this manner so can't comment if it would be any different.

      • 89tnp on 02/02/2016 - 22:56

        Yeah sorry, to clarify….

        Since I was going to load it up with cash before I left on holiday next month, I'm gonna load it with $3k now to satisfy the criteria and use paywave in aus for the next month before I go on holiday.

        How do you find retailers handle the "Can I buy this $1000 TV in 10 x $100 paywave swipes"?! Easy at self checkouts, bit weird at jb, David Jones, etc lol.

        Technically, I don't think they can refuse it though?

        • FutureTech on 02/02/2016 - 23:48
          +2

          They can refuse it if they think your behavior is suspicious and the bank has the right to cancel the rebate on the transactions if they feel like you're exploiting the offer in a manner that's against the original intent of the offer. This is something that they have absolute discretion over. If you want to mininise the likelihood of transaction being rejected by the store, bring an photo id to prove that you're not using a stolen credit card and use the paywave to circumvent the pin.

        • [Deactivated] on 02/02/2016 - 23:59
          +1

          I havn't read all the merchant handbooks on terminal usage, but the NAB one is quite explicit on this: Breaking up transactions to the same card for the purpose of staying below a limit is against their terms of service.

          Not only are they breaking their merchant agreement, they are then liable for any fraud (normally there's some level of fraud coverage for the merchant).

          Plus, this type of work-around appears to be prohibited by the terms of the offer:

          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.

        • swiggity swag on 03/02/2016 - 04:53
          +1

          People like you ruin it for everyone else.

    • Leuke on 02/02/2016 - 17:35

      I did the same thing. Are you gonna call to see if you can get in on the offer? I'd use it if I could.

    • Sidor on 02/02/2016 - 17:59
      +1

      promotion is for those who applied from 1/02/2016.

      I applied on 31/01, so I am wondering if Citibank will make me elegible for this promotion or not

      • Leuke on 02/02/2016 - 19:02
        +1

        Let me know if you find out…

        • Sidor on 02/02/2016 - 20:00
          +1

          Have to wait to get through identity check, online chat is hopeless

      • 89tnp on 02/02/2016 - 22:57
        +1

        Well I applied on the 26th, but since the application was "missing documents" and I had to go into auspost in person and its still processing…..

        I'll kick up a fuss if they don't.

        • Sidor on 03/02/2016 - 18:40

          I applied on 31/01, and they told me I am not eligible.
          I told me if I can cancel and re-apply, was told I can do that. i applied today again. Will see what happens.

        • 89tnp on 03/02/2016 - 19:10
          +1

          @Sidor:

          lol… The amount of red tape is ridiculous. Did you get an email saying your card is in the mail though?

        • Sidor on 03/02/2016 - 19:11

          @89tnp:

          yes, this morning

  • Peck on 02/02/2016 - 16:17
    +7

    Regardless of this cashback offer, this is a great account for overseas travellers and for foreign currency transactions.

  • fjalldway on 02/02/2016 - 16:24
    +1

    ING need to pickup their game

    • Cluster on 02/02/2016 - 17:34
      +16

      Not really. ME bank, Citibank and HSBC have offers ranging from 3 to 6 months. After that the rebate is 0%. ING gives customers 2% for years. Eventually even the most die hard OzBargainer is going to open one account at each bank and be locked out of future offers.

  • johnno07 on 02/02/2016 - 16:26
    +3

    Shame Citibank's online banking is utterly atrocious, and their mobile app is even worse.

    • payton on 02/02/2016 - 16:34
      +1

      Their Android app messed up the brightness of my Note 3, it was like minimum backlight level, going to max, back again each time I go to a different menu. Slow too. They can learn a lot from ING and ANZ when it comes to mobile apps.

      • CuriousKate on 03/02/2016 - 12:50

        I am with ING and ANZ. Mostly bank with ING now as they have an amazing app for Windows Phones. ANZ - no app for us at all.

    • T-man on 02/02/2016 - 18:47
      +4

      not just online banking, their customer service is awful, a bunch of morons

    • gwong on 01/05/2016 - 16:00

      Their iOS app now has TouchID and is much improved.

  • chyawala on 02/02/2016 - 16:29
    +3

    Effectively more like 4% cashback because it's paid two clandar months after the month of purchase. Up to three months of lost compounded interest is roughly 1%.

    So how does this compare to ING's 2% cashback instantly without any qualifing deposits? You be the judge.

    • StalkingIbis on 02/02/2016 - 16:50
      +1

      needs to be instant or i wont switch.

      • chyawala on 02/02/2016 - 17:39
        +1

        I think I'm wrong about my statement. Its 1% loss on the 5%, not much really. But its still too long a wait and lost interest too.

        • StalkingIbis on 02/02/2016 - 20:09

          i just dont want to have the account open for an extra 2 months waiting to get a measly amount of cash when i can get a similar measly amount of cash for less effort and no waiting

    • Neoika on 02/02/2016 - 19:11
      +1

      You need to deposit $1000 monthly to ING bank account to maintain the 2% cashback.

      • highdealer on 02/02/2016 - 19:14

        And $3000 for 5% for only 4 months here.

        When ING had their promo, you use to get 5% for 6 months with no condition.

  • cDNA on 02/02/2016 - 16:36
    +1

    So much effort to get $150 cashback.

    Transactions have to below $100 too. :(

    • matt_will_fix_it on 02/02/2016 - 17:41
      +1

      You mean up to $600 cash back? It's 150 per month x 4 months

      • highdealer on 02/02/2016 - 19:16
        +4

        If you have $12000 to spend in 3 months…

  • thydzik on 02/02/2016 - 16:50
    +6

    possible to make money with a paypal tap and go reader?
    http://www.officeworks.com.au/shop/officeworks/p/paypal-tap-…
    minus paypal fees of about 2.5%

    • thydzik on 02/02/2016 - 22:27

      from the PayPal website it is less than 2% fees

      https://www.paypal.com/au/webapps/mpp/accept-mobile-payments

      • No monthly fees or lock-in contracts
      • Low 1.95% transaction fee for card reader payments

      • highdealer on 03/02/2016 - 00:42
        +2

        After buying the card reader and account for paypal fees, you are left with a maximum profit of $217 after 6 months. For the first month you will be out of pocket by $207.5, second months by $266, third months by $174.5, fourth by $83 and only after the fifth do you get a $67 profit.

        And then after all that

        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.

        This happen and you get no cash back and you end up losing $383

  • Donaldhump on 02/02/2016 - 17:29
    +7

    Welcome to ShitiWank, how may I help you

    • T-man on 02/02/2016 - 18:48

      Citifail, the worst bank ever

  • GLO on 02/02/2016 - 17:49

    Anyway for existing customers to.wangle back onto this deal?

    Citibank contacted me on Jan 28 citing a similar offer which would expire at the end of Feb, but I have to deposit $2500 each month to get it.

    I told them they must be joking by offering a targeted campaign in the final 33 days before its ending.

  • 8anddrank on 02/02/2016 - 17:59
    +3

    Anyone hit the "Apply now" button - I have & all I get is "Invalid Source" using both Chrome & IE. Geniuses! I can't wait to deal more with these guys!

    • WhyAmICommenting on 03/02/2016 - 08:58
      +1

      It gets worse, don't worry.

    • chyawala on 03/02/2016 - 16:28

      Start from home page, then personal transaction accounts.

  • huubang on 02/02/2016 - 18:10

    Damn. I just applied last Friday. LOLX

    • liquid metal on 02/02/2016 - 22:07

      Give them a call and ask if you can get this offer. Worst case: You wasted 10 minutes of your life. Best case: You save up to $150/month

      • huubang on 03/02/2016 - 21:10

        Called and asked. They said they would put up a request but it is subject to approval

  • shortgum on 02/02/2016 - 20:04
    +3

    Follow your link and click APPLY NOW. got this error message 'invalid source'

    http://www.citibank.com.au/plus3/index.htm

    Anyone got this?

  • outofdateyesterday on 02/02/2016 - 20:18
    +2

    citi bank have shocking service

    • Tyrx on 03/02/2016 - 00:54

      "sir, while you're waiting would you be interested in our life insurance plan? No, you say? How about funeral insurance?" - average Citibank customer service representative

  • [Deactivated] on 03/02/2016 - 00:24

    Sorry for spoiling the party. I rather just buy Woolworths gift cards and get 5% off. Much easier than signing up to banks that require you deposit $1,000s each month.

    • Sweetnsour on 03/02/2016 - 20:42

      But this offer is for other stores as well like small businesses, restaurants, clothing stores etc. So you could shop around

  • tunzafun001 on 03/02/2016 - 09:51

    I received the 3% cashback for current customer offer, but haven't seen any cashback on my statement. Anyone know when it gets applied? Being Citibank, I'm sure you will need to message them…they will reply using a ('",* etc, ….then you will try and reply but get rejected because their reply contains a ('",* …. So you then call and they will say write an email….so you message them…………

    • Sweetnsour on 03/02/2016 - 20:43

      Your 3% cashback will take 3 months to credit into account. Make sure you meet the deposit requirements to qualify

  • Findmebargain on 06/02/2016 - 11:56

    Tried opening an account for my mother and got stuck at online ID verification stage. It asked for 2 of 3 types of ID; Drivers License, Passport and Medicare. Medicate - yes but she doesn't drive and doesn't have a passport. I submitted the application with just her Medicare info thinking I would then receive an email for guidelines how to furnish the remaining ID information or alternatives. Nope, nothing helpful. Just a screen saying missing information and no follow up emails from Citibank either. Looking up the application on their website also returned the same message "missing documents". Has anyone here had similar issues? I am reluctant to call (get my mother to) them as I have personally experienced so much frustration going through their call centres.

  • danmiao on 18/02/2016 - 22:26

    Can someone clarify me, I have applied and got my citibank debit card, and I have transferred $3100 from other bank to citibank account, now do I have to consume $3000 within one month by using pay wave (30 * $100) to get $150 cash back, or I am already eligible to receive $150. I am so confused

    • Sidor on 02/03/2016 - 11:31
      +1

      I believe you need to make 30 $100 Paywave transactions to get $150 cash back.

  • deeevan on 26/02/2016 - 22:33

    Gah, I was in a branch earlier this week and asked if there was any promo running for the Citibank Plus account such as a Paywave rebate. Dude said no. Hopeless

  • Cataclysm on 09/03/2016 - 17:58

    has anyone actually got their cashback?

    • WaywardOne on 23/03/2016 - 09:52

      From the terms
      "The cashback will be paid into the relevant Citibank Plus account from which the Visa payWave purchases were made within the next two calendar months from the month of transaction."
      I opened the account in February, so I guess the first cashback will be in April?

      Side note: After all the stuffing about with this Citibank account, I think I'll use Woolworths eGift cards in future. They are sold at a 5% discount at Cashrewards, and Woolworths/Caltex cover about half of my paywave transactions. And the Woolworths mobile app does a nice job of keeping track of egift cards

  • niyiaw on 10/03/2016 - 11:33

    So I tried to clarify with Citibank when the the 5% off started ie I join this month do I get the rest of this month to use the paywave cashback or not until next month when I deposit 3k. I get a generic

    We advise that the cashback offer will be valid for the first four full
    calendar months after the account has been opened. The cashback offer
    will apply when at least $3,000 is deposited into an eligible Citibank
    Plus account from a non Citibank bank account by the last day of the
    calendar month.

    that doesn't really answer the question but it seems to imply that

    Customers can still be eligible to receive a cashback in the month the account is opened and this will be treated as a bonus cashback month.

    doesn't count?

  • gwong on 10/04/2016 - 20:51

    Do you need a Citi transaction account in order to transfer into Citibank Plus? I can't find the BSB/Acct# of my new Citi Plus… odd.

    • supersabroso on 10/05/2016 - 08:44

      No you don't, you just need to call up, they only show your account number when you sign up. If you don't record this down, you have to call them.

      I signed up for mine on the 4th of May so hopefully I get almost 5 months of cash back. This card is superior to most cards and their linked saver account offers a higher interest rate than virtually any other bank.

      It says that it doesn't charge for international transactions which is useful because I've been stung by ING a lot in the short time I've been with them for shopping at places like Aliexpress and booking hotels via Expedia.

  • Gotchas on 26/04/2016 - 07:36

    Anyone got the cash back yet?
    Being over 2 months

    • WaywardOne on 26/04/2016 - 09:14

      None for me. I think we've been conned…darn

      • Scrooge McDuck on 20/05/2016 - 12:58

        Updates?

        • WaywardOne on 20/05/2016 - 13:53
          +1

          I was told that I would not receive the 5% rebate as I had previously held a Citibank Plus account.

          From the first term "The 5% cashback is available to customers who apply for their first Citibank Plus account between 1/02/2016 and 31/05/2016".

          So I guess they got me there :(

        • Scrooge McDuck on 20/05/2016 - 14:21

          @WaywardOne:

          That's rough!

          How much were you expecting back?

        • WaywardOne on 20/05/2016 - 14:35

          @Scrooge McDuck:

          Not a huge amount, probably about $100

        • Scrooge McDuck on 20/05/2016 - 15:55
          -1

          @WaywardOne:

          Could threaten them to take it up with FoS, that'll cost them more than $100…

        • WaywardOne on 20/05/2016 - 16:21

          @Scrooge McDuck:

          Nah, the call centre was in the Phillipines. I doubt they've even heard of the FoS.
          I just transferred all my money out and closed the account.

        • Scrooge McDuck on 20/05/2016 - 21:46

          @WaywardOne:

          Nah, the call centre was in the Phillipines.

          I know, I had the displeasure of calling them today.

          The woman kept calling me "Sir", yuck! :X

          I could barely understand her. The nasally American accent is bad enough when it isn't emanating from a small Asian woman. When she said the word "link" it sounded like a bird chirping! ><

  • Huck on 22/05/2016 - 12:07
    +1

    Got my first cashback for the month of March! Labelled 'Happy Cashback From Citibank'.

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