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| Citibank Overdraft Protection Change In Terms - This Sucks https://forum.costaricaticas.com/viewtopic.php?f=1&t=25706 |
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| Author: | Phoenix Rising [ Sun Oct 26, 2008 12:05 pm ] |
| Post subject: | Citibank Overdraft Protection Change In Terms - This Sucks |
Just thought I'd warn you goes on what Citibank is planning to do with their "Checking Plus" product which I have used for many many years. It is a drastic change for the worse. Effective November 7, 2008, we will make the following changes to our Overdraft Protection Services. Included are changes to Checking Plus, Checking Plus (variable rate), and Safety Check. We will charge an Overdraft Protection Transfer Fee of $10 each day we cover an overdraft by transferring money from your Checking Plus account, your Checking Plus (variable rate) account, or your Safety Check contributing account. The Overdraft Protection Transfer Fee will be charged to the account that receives the transfer. This fee will be waived for Citigold®, Citi Private Bank, International Personal Banking and Global Executive Banking customers. Important Information Regarding Overdraft Protection, Including Checking Plus®, Checking Plus® (variable rate), and Safety Check® For all Checking Plus and Checking Plus (variable rate) customers: The paragraph in your Agreement and Disclosure entitled “USING YOUR ACCOUNT†will be replaced with the following: USING YOUR ACCOUNT There is no pre-established time limit for your use of this Account. You may take a loan from your Account by: 1. Using your Citibank Banking Card® at any Citibank Automatic Teller Machine (ATM) location: You may use your Citibank Banking Card to obtain a loan directly from your Account. 2. Overdrawing your checking account: If you overdraw your checking account, you will have automatically requested a loan from your Account. We will make the loan to you by transferring from your Account to your checking account, the amount needed to cover your overdraft, and any applicable fees, rounded up to the next $100 increment. 3. Requesting a transfer from your Account to your checking account: You may use your Citibank Banking Card at any Citibank ATM location, or you can transfer funds by phone using CitiPhone Banking® or online through CitibankOnline.com. Checks drawn against uncollected funds in your checking account will be honored only up to your Account’s available credit. If your Checking Plus account currently has an Annual or a Monthly Fee, that fee will be eliminated. For all Safety Check customers: The Overdraft Protection Transfer Fee will replace the existing Safety Check Fee. Safety Check transfers from your contributing account will be made in the amount needed to cover your overdraft and any applicable fees, rounded up to the next $100 increment, not to exceed the available balance in your contributing account. The Safety Check Transfer notice will be discontinued. All other terms and conditions of the Client Manual, the Marketplace Addendum and Checking Plus and Checking Plus (variable rate) Agreements and Disclosures remain in full force and effect. |
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| Author: | MoJo [ Sun Oct 26, 2008 1:49 pm ] |
| Post subject: | |
Solution: I know this is a novel concept but why not ditch all the protection that you really don't need and simply Don't overdraft your account? That will $100 for the novel solution. Please pay in person at Trollfest 2008 |
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| Author: | Tstef527 [ Mon Oct 27, 2008 6:41 am ] |
| Post subject: | |
Get used to a lot more of this crap! Fewer banks cannot mean better service. Is there any reason to think ALL fees won't rise exponentially in the near future? |
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