Will this action give Citi carte blanche to dip into my checking account at will?

[Flashman]

 

I am looking into the possibility of paying my CC online rather than on the blower.  However, being the sort that reads terms and conditions thoroughly before agreeing to them, I was wondering if anyone could comment on what Citi asks cardholders to agree to before they submit their checking account information:

 

Quote

By checking this box, I confirm that I have read and agree to the Terms and Conditions and agree to participate in Online Bill Payment. I authorize Citibank, N.A. to initiate an electronic payment from my bank account indicated above, and authorize my bank to honor the withdrawal. This authority is for the account(s) noted above and is to remain in effect until cancelled in writing by Citibank, N.A., my financial institution, or me [emphasis mine]. I also understand that if an email address is on record, I will receive an electronic Online Bill Payment confirmation notice that can be printed as evidence of my authorization for electronic funds transfer from my bank account.

 

The idea behind attaching my checking account information to my cc account online is to give Citi only the ability to process one-time payments that I contact Citi to authorise before they go through.  The passage I have emphasised has me concerned because I do not understand why I cannot revoke Citi's authority to take funds from my account with a simple phone call as opposed to having to write them a letter that may take days for them to receive and process.

 

My two questions are:

 

Am I mistaken in thinking that my agreeing to the above will give Citi the ability to dip into my checking account at will vs. only when I instruct them to do so via their website?

 

and

 

Has anyone had problems in the past with Citi making unauthorised withdrawals from their checking account despite only signing up for one-time payment?

 

 

 

 

 

 

 

 

 

[hdporter]

It seems like there might be room for Citi to make that agreement language more restrictive, in favor of greater security for the payer/account holder.

 

Nevertheless, I've been paying my Citi statements online for about 25 years and have never suffered an unexpected/unauthorized account debit.

[Sidewinder]

After the jaw-dropping ways in which Citibank repeatedly mistreated me, I, Sidewinder, am famously the most virulently anti-Citibank CB'er in the history of everything in whole omigod entire known universe.

 

AND EVEN I am here to tell you that Citibank is not going to just dip into your checking account when they feel like ordering a bunch of Uber Eats or some new golf clubs.

 

So yes; yes, you are mistaken in thinking that your agreeing to the above will give Citi the ability to dip into your checking account at will vs. only when you instruct them to do so.

 

 

 

 

Edited June 18, 2022 by Sidewinder

[centex]

Yeah, I don't see anything there that gives an authorization to reach out and use your funds for their weekend beer bash.  It just said you agree that they have authorization to reach out and get what you have agreed to pay.

[Flashman]

On 6/17/2022 at 5:50 PM, Sidewinder said:

After the jaw-dropping ways in which Citibank repeatedly mistreated me,

 

Is there a thread you could direct me to where you have written about this?

 

I ask because, while I cannot say I hate Citi, I cannot say they are my favourite CC firm, either.  I would be interested to hear what you have to say about them, as this may serve as the impetus for me to find a different 2% everyday spend card.

 

 

[Sidewinder]

10 hours ago, Flashman said:

 

Is there a thread you could direct me to where you have written about this?

 

I ask because, while I cannot say I hate Citi, I cannot say they are my favourite CC firm, either.  I would be interested to hear what you have to say about them, as this may serve as the impetus for me to find a different 2% everyday spend card.

 

 

 

https://www.fnbo.com/personal-banking/credit-cards/

 

[Sidewinder]

I meant to add in the above post that FNBO isn't merely the issuer of a solid 2% unlimited cash back card (they are), but also that I specifically endorse them.  I've had their Rewards Visa for a while now (that one's invitation-only tho) and am overall quite satisfied with them.

 

FNBO: The great big small bank.

[shifter]

1 hour ago, Sidewinder said:

I meant to add in the above post that FNBO isn't merely the issuer of a solid 2% unlimited cash back card (they are), but also that I specifically endorse them.  I've had their Rewards Visa for a while now (that one's invitation-only tho) and am overall quite satisfied with them.

 

FNBO: The great big small bank.

2% cards are a dime a dozen. And FNBO is a bank that's so small it sucks like a CU. Stay away. 

[hdporter]

56 minutes ago, shifter said:

2% cards are a dime a dozen. And FNBO is a bank that's so small it sucks like a CU. Stay away. 

 

Not a chance (re USB Cash+) ... I adore getting 5% cb on my utility payments and select streaming excl from the BCP 6%.

Edited June 22, 2022 by hdporter

[Sidewinder]

5 hours ago, shifter said:

2% cards are a dime a dozen. And FNBO is a bank that's so small it sucks like a CU. Stay away. 

 

You are completely ignoring how cool their payment envelopes are.

 

[Flashman]

On 6/21/2022 at 10:03 AM, Sidewinder said:

 

https://www.fnbo.com/personal-banking/credit-cards/

 

 

Thank you for the link.

 

Have you written about your unhappy experience with Citi somewhere on CB so I could take a look at it and form a better idea of what happened?

 

 

[Sidewinder]

18 hours ago, Flashman said:

 

Thank you for the link.

 

Have you written about your unhappy experience with Citi somewhere on CB so I could take a look at it and form a better idea of what happened?

 

 

 

I was trying to move on from the felonies Citibank committed against me & to focus on other, more positive things, e.g. how swell FNBO is, but you really seem interested in the story(ies).

 

See my "What is Citibank like?" reply in the thread linked here, for a partial run-down of the reasons why I'm crossing my fingers to see the day when Citibank implodes due to its ineptitude and fiery hatred of its own customers, leaving nothing in its place but a pile of bent rafters, dust, and steadily crapping rodents.

 

 

https://creditboards.com/forums/index.php?/topic/624823-how-to-request-citi-reconsideration/