I am one who had set up payall payments fee-free until the year 2035. This month I just had interest charged!
Anyone else in the same boat?
Citibank PayAll Interest from Oct 2024?
leeroys_dad on 18/10/2024 - 20:57
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My PayAll scheduled early this month didn't charge interest - was the interest charge 0.95%?
Another misleading thread… just like that one saying there is annual fee starting soon… maybe should combine the threads
Okay I have worked it out with Live Chat. It wasn't cash advance interest - it was interest but as a result of the due date changes to 14 days after the statement date. Thankfully interest (funnily enough it was .97%, very close to payall fee) charge will be reversed.
It means I won't be able to earn interest on the funds in my bank for very long, unless others have worked out optimal statement dates?
I don't think there's a way around it unless you can amend an existing payall date without triggering the 0.95% fee?
You should still be able to hold the Payall credit for about 40days. The only change they made was to change the interest free period from 55 to 44 days. This means that, to avoid fees, you have to pay in full about 2 weeks after your statement date.
Best thing to do is to change your statement date to suit your situation. Easily done with Citi.Best thing to do is to change your statement date to suit your situation. Easily done with Citi.
how easy? when did you do it?
I have changed my statement date twice in the last 12 months.
Just called them up and asked. Told them it was due to monthly pay date changes
How do you recommend changing the statement date to best suit your payall setup?
due date changes to 14 days after the statement date
That happened a while ago. Most credit cards these days are 44 days unfortunately.
I thought that promo got canned 12 months ago.