I have been banking with Citibank for donkey’s years now and a while ago decided to avail of the Ready Credit facility. I was out of town recently and inspite of having money in my account, I couldn’t withdraw it, nor could I see where the money had disappeared. My savings account showed a balance; however, the withdrawable balance was a negative amount. On calling Citibank, I was told that the amount is frozen towards the payment of the principle amount for the Ready Credit, and this happens 24-48 hours before the salary is credited. On speaking to an escalation supervisor, I was given an explanation of how the system works. He mentioned that the system calculates 30days from the last month that the salary is credited and accordingly blocks the amount. So because on account of Christmas my company paid us on the 23rd, the amount was frozen since 23rd Jan. Sadly at this time I was in Goa with my 2kids, stranded there coz I couldn’t withdraw any money. The points I’d like to make here:
1. This is a salary account with Citibank and they are well aware of when the salary will be credited.
2. Freezing an amount and esp towards the end of the month is completely unfair as it doesn’t allow customers to avail of it and neither does it reflect in the Ready Credit or in the list of transactions. Besides, imagine if all our dues or EMIs were frozen!
3. Citibank does not offer any option to select or change the date for the repayment towards principle or interest.
4. Did not find any document that stated that the amount will be frozen.
My suggestion:
1. If the amount is available 24 to 48 hours before salary credit, it should be taken, if not, left the way it is and taken when the amount is available. This is exactly how it works with other payments.

PerpetuaJessica Aranha
Mumbai 400 083, Maharashtra
Email: jxxxxxxxxxxxxa@yahoo.co.in / 27/01/2016 / 7:56 pm

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