[dgruber]

Hi,

Worth mentioning:

1. HSBC offer 5 free withdrawals at non-HSBC ATMs.
2. You are all better off having a CMA Plus account offered by Citigroup Wealth Advisors. It does not have the linked account but it offers 4.75% interest rate on all balances, Visa Debit card and so on, unlimited ATM withdrawals for free. No $5 fee applies. The only catch is you have to have a share trading account, only attracts brokerage if you buy and sell shares. https://sec1.citismithbarney.com.au/...anagement.html
3. How is this related to frequentflyer.com.au :P - sorry I am being mean here.
4. Somebody mentioned an Elders Rural Bank online (ERBonline Savings and Term Deposit Account) account. Their interest rate is only 6.10%.
You should check out either Raboplus RaboPlus Australia: high interest savings, term deposits, low cost managed funds, online investments (6.6%) plus a free security token. Use FF0507 in the promotion code (at END of application form) to receive $25 welcome bonus incentive (this may be withdrawn at anytime - so be quick). This rate is available for personal and business customers on all balances.
(In comparison Bankwest offers their Telenet Saver BankWest - Bank of Western Australia Ltd. for personal customers 6.8% and Business Telenet Saver BankWest Business TeleNet Saver | Online business savings account 6.35%). Rabobank also allows you to enter managed funds. Be aware that Bankwest's rate for personal customers is introductory for the first year only compared to Rabo's ongoing rate (and it does not have features like free security tokens and $25 welcome bonus).
5. Another worth mentioning is the Home Cash Maximiser account. If you have $5000 in it, third party ATM fees are waived and it also has a Visa debit. Home Building Society and StateWest Financial Services, WA's newest and friendliest banking service. The interest rate on $5000 is 5%.

Hope this helps you!

*Disclaimer: Read the Product Disclosure statement (PDS) and determine whether the product suits your needs and/or circumstances.*

Regards,
dgruber

[dgruber]

"To avoid paying the Monthly Account Keeping fee ("Monthly Fee") after 31
December 2007, you will need to deposit a cumulative amount of $3,000
(such as your salary) directly into your Citibank Plus Transaction
Account each month."

It says "such as salary". So you can still transfer $3000 from your linked savings account into your transaction account each month and then after a few days transfer it back. It does not necessarily have to be salary.

[trudy]

I would like to add something about bankwest.

If you apply through moneybackco (google it), you will get $40 cash back when you applied for the 6.8% interest account.

[beardoc]

I remember the fee waiver used to be promoted, but I can't find anything more about the fee waiver on the Citibank website - does it still exist for new customers?

[Chicken]

Originally Posted by beardoc

I remember the fee waiver used to be promoted, but I can't find anything more about the fee waiver on the Citibank website

Citibank Plus account

[jakeseven7]

Originally Posted by jboey

However my arguement would be that if Citibank intends to remain competitive in the Australian market, attracting people who are able to credit their citibank plus a/c with a monthly salary/remuneration above $3000 (and for most of us, after tax) would be targeting only a minority of the Australian population. Keeping in mind that the average Australian only earns $40,000 ++ per year, the average Australian would not be able to get the a/c keeping fee waived. This is what I mean by a policy for the rich. And while individuals a/c may not be their biggest priority or money earner, I think they should not be treating their customers like dirt.

Also, what really bugs me is the email that was sent out to tell us of this new policy failed to mention how much the a/c keeping fee would be. Hence it could be even more than $5.

I think you are forgetting a couple of key points.

Yes, by putting 3K through you do exempt yourself from fees, but most ppl are being charged fees anyway with the big 4 - and around about the same $4-6 a month if they are smart about how they set their accounts up.

But for younger people like myself, the unique selling point of this account is the ability to use ANY atm in Australia with unlimited transactions without being slugged the $1-$2 'other ATM' fee - which for me typcially nets out around another $10 a month, because I can't be stuffed hunting down a CBA atm all the time and especially when I am out at a pub/club and they only have the independently owned ATMS! HUGE incentive, for many people!!

FWIW I've missed all this Readycredit saga so have no idea what happened here, I've had a gold c/c with Citibank and I think their customer service is excellent, I've just opened this account and about to close my last Australian finance/bank account -> which is a little sad but they just can't (or won't) compete!

[codash1099]

I've just dumped Citibank (just one impost too many) and will rely on my ING Online account - no fees and a better interest rate. The only down side is that you need to transfer to another bank's account to use the money, but that's no real problem.

[Alanslegal]

Thank you Citibank for making my CB+ account free for life(as i meet their $3k+ per month salary deposits)
Initially I was on their 12 month waiver program and that it was going to expire in October 2007, so avoiding the $5pm is beneficial! it's like something for nothing!!!
& Just like a few others have mentioned, I can just go to ANY atm and take out $$$ without the worry about being slugged additional charges! So I take out smaller amounts of $20 or $40 at any one time but more frequently and whenever i need to take money out.

[jakeseven7]

Originally Posted by codash1099

I've just dumped Citibank (just one impost too many) and will rely on my ING Online account - no fees and a better interest rate. The only down side is that you need to transfer to another bank's account to use the money, but that's no real problem.

I have an ING Savings Maximiser account as well, they are really good, I will be keeping it in addition to my CB+.

1 thing that annoys me though is that ING are very slow to increase interest rates (earning), BankWest, Citibank always do it quite quickly, I have called ING twice asking if they will match (or I will move my business) and they always say oh wait a couple of weeks etc.... Not a huge complaint but they are relying on people not noticing they are lagging behind.

[codash1099]

Originally Posted by jakeseven7

I have an ING Savings Maximiser account as well, they are really good, I will be keeping it in addition to my CB+.

1 thing that annoys me though is that ING are very slow to increase interest rates (earning), BankWest, Citibank always do it quite quickly, I have called ING twice asking if they will match (or I will move my business) and they always say oh wait a couple of weeks etc.... Not a huge complaint but they are relying on people not noticing they are lagging behind.

Agreed. They have just announced a 0.15% increase in rates, but given that the Reserve moved by 0.25%, they are pushing the boundaries a bit. BankWest looks interesting to me.

(Edit: Perhaps I'm unkind to ING. I note Rabobank has increased their rates by 0.1%!!)