Citibank: I Spit On You!

[happy_english_martin]

I'm English and looked for 13 months for two secure US bank accounts (one for my business, one for personal use).

Living in Thailand and working mainly online made things very difficult yet Citibank USA were so helpful I was really blown over with how much they tried to bend rules to suit my circumstances.

One thing I needed to do was get my passport notarized at the Thailand branch and, again I was incredibly pleased with their efficient, professional and friendly service.

I can't remember having such fantastic service.

Regards

Martin

[dotcom]

I am still looking for a reliable BACKUP for etrade, that does online wire transfers US to Thailand without the need for a visit to a branch in the US. Citibank seemed to fit the bill.

Ameritrade is absolutely top shelf. I use them - I am VIP customer so wires are free. I don't have a credit card from them. It can be done but you need a minimum of $10k in the account.

I kept my Schwab account & I have a VISA card with them. I moved to Ameritrade because trades are $9.99 - unlimited shares per day one way.

They will give you a toll free number to call from LoS so you can talk to a rep virtually 24 x 7.

[dotcom]

P.S. I left Schwab because they featured a dual pricing structure. One price for online trades with a US IP number & a different (& much higher) price for IP numbers outside USA. Sod that. Ameritrade is still way cheaper.

[Jingthing]

Hint: if you have trouble opening a US based Citibank online (as I did), try opening the exact same account over the phone ... all they require for that is for you to sign a signature page and return it. Silly buggers.

[samran]

Hint: if you have trouble opening a US based Citibank online (as I did), try opening the exact same account over the phone ... all they require for that is for you to sign a signature page and return it. Silly buggers.

great, so kissed and made up with the great evil called citibank did we?

After three or four pages of diatribe, name calling that would make your typical baht bus driver blush, questionable ethics in pretending to be a US resident when you weren't, you went ahead and opened with them?

Quality mate, absolute quality you are....

[markuk]

have just cancelled my citi account in HK after a year of usage - load of crap last time i go near an american bank. fuc_king wanke_rs, i am sticking with ye olde faihtful HSBC

[Jingthing]

Hint: if you have trouble opening a US based Citibank online (as I did), try opening the exact same account over the phone ... all they require for that is for you to sign a signature page and return it. Silly buggers.

great, so kissed and made up with the great evil called citibank did we?

After three or four pages of diatribe, name calling that would make your typical baht bus driver blush, questionable ethics in pretending to be a US resident when you weren't, you went ahead and opened with them?

Quality mate, absolute quality you are....

Actually, I don't have much of an opinion yet about citibank service as I just opened the account. I do know their account opening operation is silly. As far as "pretending" to be a US resident. look, I did a survey here and the vast majority of US expats are doing the exact same thing for very good reasons. Don't blame us, blame the paranoid, inflexible US financial institutions.

Again, I reposted again to clue people in to NOT try to open a citibank account online. Try over the phone, its a breeze. I think what tripped me up was their online "security survey" which asked about obscure mortgage company relationships a decade old. As people know, mortgages are traded like baseball cards and its easy to forget the exact names of these firms.

BTW, I seriously doubt I could make a baht bus driver blush, but thanks for your vote of confidence.

Edited July 25, 2008 by Jingthing

[NotNew2You]

I have been a USA based Citigold client for over a decade and have generally been very satisfied. Before expatriating, I talked with my personal banker and set-up all the wire-transfer and POA agreements I would need. Basically, everything I need to do (just about anything I would do in person at a branch or my banker) I can do with their online services. Telephone service is also very quick, as a Citigold customer, you get bumped right up to the front of the call-center line. All my banking, securities brokerage, loans, and credit cards are all linked together in various Citi accounts that I can monitor and manage from Thailand! Of course, all statements are electronic, so there is no possibility of loosing valuable documents/statements in the Thai mails.

In addition, I have actually changed my official account addresses back and forth from my Stateside mail-drop service to my house in Thailand and back again several times for various reasons without any problems.

Also, living in SE Asia, it's nice to know that in every capitol city in the area, in an emergency, I can visit an actual branch of Citibank in person if necessary (and the Citigold lounges can even be nice places to relax and read a paper or have a free coffee).

[Jingthing]

Sounds good if you want that degree of a relationship with Citibank, and obviously, there is level they demand for that kind of relationship. It would also be very difficult to start that kind of relationship AFTER you expatriate, so if you are a US based person and you want that, I would suggest setting it up before you go ...

How many of us have personal bankers, BTW? Egads ...

Maybe I am posting in the wrong forum. Can we open a forum about money issues for people who don't have personal bankers? You know, mere mortals.

Edited July 25, 2008 by Jingthing

[lannarebirth]

Sounds good if you want that degree of a relationship with Citibank, and obviously, there is level they demand for that kind of relationship. It would also be very difficult to start that kind of relationship AFTER you expatriate, so if you are a US based person and you want that, I would suggest setting it up before you go ...

How many of us have personal bankers, BTW? Egads ...

Maybe I am posting in the wrong forum. Can we open a forum about money issues for people who don't have personal bankers? You know, mere mortals.

I'm a mere mortal and I have two. I try to avoid doing business anywhere I cannot build a relationship of trust. Banks are not warehouse stores, or at least they shouldn't be.

[dotcom]

Hint: if you have trouble opening a US based Citibank online (as I did), try opening the exact same account over the phone ... all they require for that is for you to sign a signature page and return it. Silly buggers.

You're pulling more flip flops than obamanation.

<deleted> now that you are their customer.

[NotNew2You]

I try to avoid doing business anywhere I cannot build a relationship of trust. Banks are not warehouse stores, or at least they shouldn't be.

For something as important and personal as banking services, it does behoove one to really go for "full-service" rather that try to save a few satang and going with el cheapo bank on the corner. This is even more important if you are going to do the expatriate thing, as you can't just drive down to your bank branch to get something done when there are 10,000 kilos and a large ocean separating you and your bank branch.

[NotNew2You]

Can we open a forum about money issues for people who don't have personal bankers? You know, mere mortals.

Actually, you don't have to be the son or daughter of Bill Gates to qualify for these type of "high net worth indicidual" accounts. When I signed-up, you needed a "total relationship" with Citibank of US$ 100,000 or more. You could combine various savings, checking, brokerage, and IRA accounts to meet this minimum. Therefore, this minimum is quite easy to reach. Of course, there are tiers within tiers and the higher your total relationship, the more fees you can get waived and you have access to more other freebies too.

[Jingthing]

I try to avoid doing business anywhere I cannot build a relationship of trust. Banks are not warehouse stores, or at least they shouldn't be.

For something as important and personal as banking services, it does behoove one to really go for "full-service" rather that try to save a few satang and going with el cheapo bank on the corner. This is even more important if you are going to do the expatriate thing, as you can't just drive down to your bank branch to get something done when there are 10,000 kilos and a large ocean separating you and your bank branch.

That's one way to do it. Maybe it is better for you and best of luck. The other way is to do everything you can to set up to be able to do everything ONLINE. I personally think there are risks on both sides. The bank you have chosen to put ALL YOUR EGGS IN could change their policy overnight on how they deal with expats, or respond to new homeland security policies. I favor the more paranoid strategy of using multiple banks without any personal relationship, and be ready and able to bail ONLINE if and when a particular bank gets difficult to deal with. Perhaps this is a generational/cultural/class thing. To me a bank or brokerage is a money bucket, a service, not a country club. I would still bet you most of the US people in Thailand do NOT have personal bankers. Time for a poll.

Edited July 25, 2008 by Jingthing

[NotNew2You]

The other way is to do everything you can to set up to be able to do everything ONLINE.

I thought that is what I said...after setting everything up Stateside, I now do all my banking online from Thailand. However, if needed, there is always telephone customer service too.

I personally think there are risks on both sides. The bank you have chosen to put ALL YOUR EGGS IN could change their policy overnight on how they deal with expats, or respond to new homeland security policies.

Sure, anything is theoretically possible. Just like Thailand itself could tomorrow order all foreigners to leave the country in 30 days. It's possible...but not very likely. However, you choose to take that risk so why not the banking risks you mention? Anyway, said bank's policies wound not be changed "overnite" but through so orderly process, with ample notification. Why are you so paranoid anyway? With millions of Americans living and working overseas, if anything, banks continue to make it easier for non-resident Americans to do banking with US based institutions.

I favor the more paranoid strategy of using multiple banks without any personal relationship, and be ready and able to bail ONLINE if and when a particular bank gets difficult to deal with.

To each his own. I just find it (even when I was Stateside) so much easier to deal with one bank/branch/statement every month than with dozens of account statements from multiple institutions. Not sure what you mean by "bail" online or why this would be important. Are you one of those people who keep a 1 years supply of sticky rice, pla-ra, and bottles of fish sauce in your cellar and keep a watch out for black helicopters circling above your house?

Edited July 26, 2008 by NotNew2You