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Since Citi bank is soon going out, what's your next move?

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Deal Cadet
SS3321

If you're a Citi bank account holder, it should not be a news for you that Citi is selling their retail business in India. This is likely to be Axis, being the highest bidder, or Kotak with the second highest bid. See news article below.

‘Axis closing in on Citi India’s consumer unit’ - The Hindu

Just wanted to check what are you guys doing with your account? Are planning to keep it? or are getting it closed? I just got mine closed because I have had really bad experience with Axis (see below). I loved Citi for its excellent customer support & chat feature. Infact, I closed my account within 5 minutes using their chat!


Coming onto my experience with Axis, they deducted Rs. 5000 from my priority account (with 2L balance) for non-maintenance of balance in my other axis account which I did not use and was infact opened to help one of the sales guy meet his targets. I met with Ops head, said they can only refund 1k. I transferred all my money out, and will not even bother getting the accounts closed now, because screw them! So when I heard Axis is the likely purchaser of Citi's assets, it was a no brainer for me to close it.


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Deal Cadet Deal Cadet
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I would wait for the final sale confirmation. Tide can still turn towards Kotak or some new player. Have Citi Credit Card.

Deal Cadet Deal Cadet
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I have their credit card as well. Will get that closed in some time. Probably not that big an issue being a loan rather than my asset.

Finance Ninja Finance Ninja
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Axis has a very bad reputation and I don’t find kotak bank features attractive. But since I do not have any Citi Bank account, no impact for me

Deal Newbie Deal Newbie
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Very disappointed that Citibank is closing their retail operations here in India.

I get my salary in my citibank account.. now will have to consider moving my salary elsewhere.

I definitely don’t want to use Axis.

I was hoping DBS would bid for it.

Deal Cadet Deal Cadet
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@guest_999
Guys which savings account should one go for now that its official on Citi website that Axis will take over all retail by first half of 2023?
@SS3321 @decideaim @Time_pass @Fanil

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Deal Subedar Deal Subedar
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please share the closure process. have both account and credit 

Deal Cadet Deal Cadet
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The simplest method is, you should wait for quarter-end when interest will be credited. I did it on 1 Jan. Transfer all your money into some other bank and make the balance zero. Since you are doing it on the first day of a new quarter, no interest will be due.

Login to internet banking and start a chat support session and tell them you wish to close account. They will initiate closure instantly. Account will be closed in 3-4 days.

Helpful Helpful
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Close it there are better banks than axis

Deal Cadet Deal Cadet
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Axis Bank is the worst bank of India.

Helpful Helpful
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If SBI or IDFC takes over their credit card business it will be good.

Deal Cadet Deal Cadet
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@guest_999 @bohemian
Guys when do the reward points get credited for Platinum Debit card after billpay?

Generous Generous
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within 3-4 days

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Deal Cadet Deal Cadet
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@guest_999 @bohemian @Sins1995
Opened HDFC Salary A/c in April 2022, by when can I receive pre approved offer for high end HDFC Credit card
(millennia & above)?

Maintaining more than 1L balance in account for now. (Standard banking for now).

Please let me know the steps here to get pre approved offer. Thanks!

Generous Generous
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In 3 to 6 months. Card variant is totally upto bank and your profile.

Use account for regular transactions thru UPI , debit card.

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Deal Cadet Deal Cadet
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@guest_999 @bohemian
A side question here- When does the hdfc 1% cb points start in a month? Hdfc bill pay through debit card (Credit car bill)

Starting 1st May I already paid bills worth 56k till date, and I know that cb is for 75k…I have 1 lac bill still to be paid..Will the points carry over in next month?

Please let me know the billing cycle & way forward on this..TIA

Generous Generous
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Max cb 1% 750 per month
Point credit can be redeemed in 12 months
Yes points keep on adding as per transaction.
Its per month 1 to 30/31

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Critic Critic
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@itsmehd5 do hdfc bill pay txn preferably in the morning as mentioned above. Any bill payment done in june will count towards the 750 cb limit for the month of june only.

Deal Cadet Deal Cadet
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I need to pay Axis Bill by 5th June  @guest_999; @bohemian

So Can I do it on 1st June say early morning 2am types?

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