Author Topic: Citibank to charge $20 a month if account balance is under $15,000.  (Read 1509 times)

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Offline exchange

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"Starting in December, customers who hold its mid-level Citibank Account will be charged $20 a month if they fail to maintain a minimum balance of $15,000 in their combined accounts".

I think this pretty much speaks for itself.

http://money.cnn.com/2011/10/04/pf/citi_fee/index.htm?hpt=hp_t1

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Re: Citibank to charge $20 a month if account balance is under $15,000.
« Reply #1 on: October 05, 2011, 02:54:15 PM »
Outrageous...

Are they TRYING to start runs on the banks?  Bank of America looks like a zombie...

I have little money in banks now, just enough to cover recurring bills.  They will not extort me to keep more in, or God forbid put in even more, to avoid penalty.  This shows their desperate situation. See the signs, be forewarned.

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Re: Citibank to charge $20 a month if account balance is under $15,000.
« Reply #2 on: October 05, 2011, 02:58:54 PM »
Outrageous...

Are they TRYING to start runs on the banks?  Bank of America looks like a zombie...

I have little money in banks now, just enough to cover recurring bills.  They will not extort me to keep more in, or God forbid put in even more, to avoid penalty.  This shows their desperate situation. See the signs, be forewarned.
Outrageous...

Are they TRYING to start runs on the banks?  Bank of America looks like a zombie...

I have little money in banks now, just enough to cover recurring bills.  They will not extort me to keep more in, or God forbid put in even more, to avoid penalty.  This shows their desperate situation. See the signs, be forewarned.

Its much cheaper to own a safe deposit box than have an account. $45-$75 per year to have a nice decent safe deposit box size.

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Re: Citibank to charge $20 a month if account balance is under $15,000.
« Reply #3 on: October 05, 2011, 03:12:46 PM »
Cheaper, but just as unsafe in the event of a bank holiday, closure, or unforeseen event. There was a story recently where a woman had her " safe deposit" box opened by the bank, had her heirloom jewelry sold for scrap, and she lived very close to bank maybe blocks away...not sure if automatic payment system broke down, but Ive had that happen with other bills, and to think the banks can do this is a real eye opener.  Can you imagine your whole collection being sold for scrap and melted just  to pay the $20 you owe?

Its good to diversify.  I'm known as being a skeptic and cautious.  I take it as a given that between the banks and the govt, nothing is safe.  The trick is how to avoid someone taking it all at once.

Offline exchange

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Re: Citibank to charge $20 a month if account balance is under $15,000.
« Reply #4 on: October 05, 2011, 03:18:13 PM »
Cheaper, but just as unsafe in the event of a bsnk holiday, closure, or unforeseen event. There was a story recently where a woman had her sd box opened by the bank, had her heirloom jewelry sold for scrap, and she lived very close to bank maybe blocks away...not sure if automatic payment system broke down, but Ive had that happen with other bills, and to think the banks can do this is a real eye opener.  Can you imagine your whole collection being sold for scrap and melted just  to pay the $20 you owe?

Its good to diversify.  I'm known as being a skeptic and cautious.  I take it as a given that between the banks and the govt, nothing is safe.  The trick is how to avoid someone taking it all at once.


Just be careful with that story. Its an old story from about 3 years ago where the woman stopped paying her safe deposit box fees. That seems to be the same story going around when this topic comes up.

I think there are more pros than cons in having a box. Sure nothing is perfect but i like the odds.

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Re: Citibank to charge $20 a month if account balance is under $15,000.
« Reply #5 on: October 05, 2011, 03:21:25 PM »
and while we are at it,

"Soaring Financial Vol Leads CME To Announce A 33% Margin...Cut"

"Because while soaring volatility in gold and copper, not to mention silver, results in one after another margin hike to "cool off the speculators", when it comes to financial stocks, especially in the "tail wag the dog" variety where the synthetic drives the stock price, a surge in vol means a cut in margins, or 33% to be precise. As of minutes ago, the biggest futures exchange just cut XAF margins by a whopping 33%, exploding vol be damned, or actually, because of it. The CME would be even more delighted if clients were to pledge their gold as collateral, especially following yesterday's expansion of gold's marginability from $200 to $500 million. So just in case anyone missed the message from today, when fins plunged then soared on a rumor, the CME would be delighted if you could repeat all of that but this time with 23% more margin. Expect more margins cuts, this time in ES offset by margins hike in all other instruments, especially of the public enemy #1 variety such as precious metals and crude"

http://www.zerohedge.com/news/soaring-financial-vol-leads-cme-announce-33-margincut

You got to love it!

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Offline pandayo

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Re: Citibank to charge $20 a month if account balance is under $15,000.
« Reply #6 on: October 05, 2011, 04:43:33 PM »
Its much cheaper to own a safe deposit box than have an account. $45-$75 per year to have a nice decent safe deposit box size.

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Yeah, whats the point of saving money in the bank if earn no interest. Ups maybe free online banking and atm does make it a different.

Offline ghostrider80811

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Re: Citibank to charge $20 a month if account balance is under $15,000.
« Reply #7 on: October 05, 2011, 08:32:03 PM »
Sounds like CitiGroup is," too BIG to exist".  :001_rolleyes: >:( :ohmy: