Citibank Customers Impacted by NAB Takeover

dreamerman on 24/12/2023 - 15:03

Like many Citibank customers I have been impacted by NAB taking over their banking side. Not totally sure what NAB bought but my transaction account is migrating over to NAB and my credit card account is staying with Citibank (at least for now). Citibank has been making it harder for me to transact my everyday account like:

  • can't transfer money without being blocked and have to ring them to unblock it
  • have to wait 48 hours to activate a new payee after calling them

Looks like their strategy is to frusfrate customers so that they move on to another bank or to use NAB. Have you neen adversely impacted?

Financial

Related Stores

Citibank Australia
Citibank Australia

Comments

  • El cheepo on 24/12/2023 - 15:17
    +2

    I cant work out how to get my reward points from my citibank credit card to convert to flybuys anymore as its changed.

    I’ve tried absolutely nothing to resolve this issue and I’m all out of ideas.

    I blame citibank/Nab 😂

    • capslock on 24/12/2023 - 15:25

      I’ve tried absolutely nothing to resolve this issue

      Maybe try something next time

      • bargaino on 26/12/2023 - 22:58
        +1

        It was a joke, son. He even added a smiley for the slow-witted.

    • CyberMurning on 24/12/2023 - 15:32

      my reward points from my citibank credit card to convert to flybuys anymore as its changed.

      Mine nor charged yet still the same way.

    • RedBlueRedBlue2000 on 26/12/2023 - 20:04
      +1

      I tried the web browser on my pc and it didn’t work. However, using safari on my iPhone worked and it allowed me to transfer my points to flybuys.
      Hope that helps.

  • p1 ama on 24/12/2023 - 16:49
    +2

    Looks like their strategy is to frusfrate customers so that they move on to another bank or to use NAB. Have you neen adversely impacted?

    There are literally over a dozen other banks, building societies, or credit unions which offer transaction accounts, savings accounts, and credit cards. If you're not happy with the service or product, then take your business elsewhere.

  • EBG on 25/12/2023 - 08:40

    They managed to send my new cards to a very old address on file… Off to a great start

  • Coops1 on 26/12/2023 - 22:43

    3 conversions in the family, all working great, no issues with the transition. Can’t wait for the 5.6% interest

  • rickb on 27/12/2023 - 10:08

    It was a seamless change-over experience for me. The NAB app and website are so much better.

    • furyou on 06/01/2024 - 23:03

      I was sent a nab debit card, but not told what to do next…

  • rakka on 08/01/2024 - 21:10
    +2

    Just received the NAB card and attempted to withdraw some cash at an ATM in Japan (7-11 ATM always free with citi).

    Not only was I only allowed to withdraw multiples of 10000yen ($100 aud ish), it also wanted me to pay a 100yen fee (about a dollar).

    Not the end of the world but compared to the Citi, I think it’s trash. I didn’t even go ahead with the withdrawal so can’t comment on the rate.

    • wangasm on 08/01/2024 - 22:06

      7-11 ATMs in Japan charge an ATM fee for all Visa Cards (like NAB) but not Mastercard (like Citi). None of that is NAB's fault but yeh Mastercard in general is better for Japan.

  • Peck on 17/01/2024 - 17:04

    I am hoping that I don't lose my Fee-Free for life Credit Card with Citi.

    • t0087669 on 01/02/2024 - 14:44

      did you get an email from Citibank about changing the annual fee to $149? not sure that means the end for fee-free for life credit card?

      • j1568 on 01/02/2024 - 16:40

        I haven't, but a friend told me he has. Are they allowed to do that given the product was signed up where the annual fee is free for life. I would try arguing with them and if they don't budge, guess you can either bring this to ACCC or just cancel the card.

      • YadaYadaYada on 01/02/2024 - 17:32

        I just got that email. Free for life was a lie :(

        • Peck on 01/02/2024 - 20:46

          Bugger! Nothing received yet, but it looks like I will! Just when I thought that I could relax. I assume that NAB bought Citi whilst knowing that these cards were 'on the books', and they should be honouring the deal.

      • robhung on 01/02/2024 - 21:47

        Just received this email - says the changes come into effect March 2024, but my fee won't be charged until June 2024. This hurts!

  • Homr on 01/02/2024 - 22:05

    I just got the email too :(

    "We are changing the Annual Primary Cardholder Fee to $149 from 25 March 2024. The Fee will apply the next time your Annual Primary Cardholder Fee is due.

    The change to your Annual Primary Cardholder Fee will be reflected in your credit card statement and is scheduled to be charged in Mar 2025."

    What does this mean? Can I cancel my card on Feb 2025 and won't be charge an annual fee?

  • tekisei on 26/02/2024 - 11:38

    So the account transfer just happened, and I find myself being unable to access my FY23-24 statements for tax purposes. Anyone know where to get them? NAB statements only go up to November.

    • kerfuffle on 26/02/2024 - 11:51
      +1

      Do you not get them e-mailed every month?

      • tekisei on 26/02/2024 - 14:15

        Oh you are right, I'm being dumb. Still a concern though if the emails accidentally get deleted etc though.

        • kerfuffle on 26/02/2024 - 14:45

          I never delete my bank statements sent to me as I save them to a dedicated folder, so this is a non-issue

  • wikiwiki on 29/02/2024 - 10:53

    just received this email

    We sent you an email in February 2024, notifying you of the upcoming changes to your Citi Rewards Credit Card Annual Primary Cardholder Fee.

    We have conducted a review of your account and have identified that your Citi Rewards Credit Card is eligible to remain on your current Annual Fee. This means that the $0 Annual Primary Cardholder Fee will continue to apply. The change mentioned in the recent variation notice which was scheduled to take effect from 25 March 2024 will not apply to your Citi Rewards Credit Card.

  • makibaow on 04/12/2024 - 09:31

    Hi, i had a question regarding this citibank nab transition. By any chance, anyone know how can we check current interest rate?

    All i see only dollar amount, but not the actual interest rate. Compare with my other nab account they have the actual interest rate on the account detail. Go to the branch also seems useless. They just give normal info which nab reward saver

    • GreenGuava on 04/12/2024 - 12:04

      I presume you're referring to the NAB Reward Saver account? If so, the Citi-specific interest rates are available here: https://www.nab.com.au/personal/bank-accounts/savings-accoun…

      The effective date is 2 Dec, so it seems that this page is being kept up-to-date.

      As to why you can't see the interest rate in your account details, I am guessing NAB haven't bothered to implement this since these specific rates only apply to ex-Citibank customers

      • makibaow on 04/12/2024 - 12:35
        +1

        Thanks @GreenGuava for your info.. really helpful. I rang NAB, but they also have a hard time to locate this link.

        Good to hear that this citi nab account still have 5.6% interest.

        • GreenGuava on 04/12/2024 - 14:38

          No worries, glad to help 👍🏻

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