linked from Clueless Project 
My dealings with Citibank relate to online access to credit card accounts. Mostly it's just that I expect that Citibank can provide me with current information the status of my account, particularly online payments. Evidently we haven't gotten past the days of punched cards and daily batch processing.
Here's my whine list:
- When does payment post? The online statement says that payment is due by 5 p.m. "local time" on the date due, while the online payment page says payment must be made by 5 p.m. Eastern Time. For what it's worth, the payment address is in Nevada.
- What happens to my minimum payment due or to my current balance after I make a payment? Nothing. I can look at it online, or call up and listen tothe automated information, but it will still say that I owe the money.
- Do I get an email confirmation of my payment? No. Well, not when I need it. I seem to get it hours later, when it's no longer helpful to me.
- Suppose you made a partial payment and changed your mind, and want to make a full payment. Any problems? No can do, at least not if you want to have it paid on the same date.
- For the paranoid, how can you know you've already made a payment? I haven't tried, but the customer service rep said it would prevent me from doing so. That at least would be one way to know that you had in fact made some kind of payment even though you won't get a confirmation of the payment until after it's too late.
Soapbox time:
Citibank isn't alone in not being able to tell you what's in your account until the next day. Etrade can delay payment for two days because of their processing peculiarities. For all I know, every bank and financial institution does these things.
But if ever there was an industry that would seem to need up-to-date information in order to transact routine business matters, the banking industry would seem to be it. If they don't know what's in your account, how can they tell you whether you're allowed to take more out?
Eventually, some bank will figure out how to make this work, and then everyone will be astounded that it was ever any other way.
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Revision r1.1 - 12 Sep 2006 - 21:40 by EliMantel
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