Starting 1 June 2015, the Credit Card transactions made abroad will be settled in 2 simple steps, which will make the whole process easy and transparent:
- STEP 1: foreign currency conversion using the exchange rate of the Payment Company (VISA/MasterCard).
- STEP 2: charging the Bank’s commission fee – 5.8% of the transaction value for all Credit Cards excluding Citibank MasterCard World Signia Ultime/Citibank World Elite MasterCard Ultime Credit Cards for which the commission fee will not be charged.

This is a huge change compared to the previous way where the transactions, except for the transactions made in EUR, were converted twice with the Bank’s fee being included in the exchange rate applied to settle the transaction and with the additional fee being charged for transactions made outside of Europe. Now, you can clearly see what the amount of the commission fee is and when it is charged, which makes the whole process easy and simple.

How it was: for transactions made in currency other than EUR or for transactions made outside of Europe (depending on the payment company) – two foreign currency conversions (one made by VISA/MasterCard payment company and the second one made by the Bank) and two fees: 4% of the exchange rate value – fee included in the exchange rate of the Bank + 1% of the EUR transaction value for transactions made outside of Europe.
How it will be now: there will be only one foreign currency conversion using the exchange rate applied by the Payment Company (VISA/MasterCard) + one commission fee amounting to 5.8% of the transaction value.

Transactions made in a foreign currency will be converted to Polish zlotys using the exchange rate of the Payment Company. Then, there will be a commission fee amounting to 5.8% of the transaction value charged from the transaction amount in PLN. For transactions made with the Ultime credit card, the commission fee will be 0%.

This change aims to simplify the settlement of cross-border payments. Starting 1 June 2015, the Credit Card transactions made abroad will be settled in 2 simple and transparent steps:
- STEP 1: foreign currency conversion using the exchange rate of the Payment Organization (VISA/MasterCard).
- STEP 2: charging the Bank’s commission fee – 5.8% of the transaction value for all Credit Cards excluding Citibank MasterCard World Signia Ultime/Citibank World Elite MasterCard Ultime Credit Cards for which the commission fee will not be charged.

This is a huge change compared to the previous way where the transactions, except for the transactions made in EUR, were translated twice with the Bank’s fee being included in the exchange rate applied to settle the transaction and with the additional fee being charged for transactions made outside of Europe. Now, you can clearly see what the amount of the commission fee is and when it is charged, which makes the whole process easy and simple.

How it was: for transactions made in currency other than EUR or for transactions made outside of Europe (depending on the payment company) – two foreign currency conversions (one made by VISA/MasterCard payment company and the second one made by the Bank) and two fees: 4% of the exchange rate value – fee included in the exchange rate of the Bank + 1% of the EUR transaction value for transactions made outside of Europe.
How it will be: there will be only one foreign currency conversion using the exchange rate applied by the Payment Organization (VISA/MasterCard) + one commission fee amounting to 5.8% of the transaction value.

In the current cross-border payment market model there are two fees applied – the foreign currency conversion fee and the spread/profit mark-up fee included in the exchange rate. Starting 1 June 2015, there will be no fee included in the exchange rate charged for Citibank Credit Cards.

For VISA credit cards, please use the calculator available on Visa International website, to find out the exchange rate that will be/was used to convert your transaction to Polish zlotys:
a) click on the "Currency Converter" button
b) in the "My Card Is In" field choose the settlement currency for your Visa card (PLN)
c) in the "My Transaction Was In" field choose the currency in which your foreign transaction was made
d) enter “0” in the "Enter Bank Fee" field (the fee is charged after the transaction has been converted to PLN)
e) choose the transaction settlement date in the "Date Requested" field
f) click "Calculate Exchange Rate" to see the Visa exchange rate for selected foreign currency.

For MasterCard credit cards, please use the calculator available on MasterCard website – the exchange rate applied to convert the transaction from the original currency into Polish zlotys:
a) click on the "Currency Converter" button
b) choose the transaction settlement date in the "Settlement Date" field
c) choose the currency in which your foreign transaction was made in the "Base Currency" field
d) in the PLN item in the table below you will find the exchange rate applied to convert your transaction to PLN.

The transaction will be converted at the exchange rate of the Payment Company at the date when the Payment Company receives the transaction from the service provider. There is a possibility that the transaction will be converted at the exchange rate at a date other than the date of the transaction. This is affected by the following factors: time of transaction, type of transaction: online or offline, the latitude at which the transaction was made (time differences, cut-off times). The Bank cannot determine the date on which the exchange rate will be applied to convert the transaction, and cannot select the exchange rate.

If a cross-border transaction is made in PLN – it will not be re-converted. Such transaction is already converted when you select the currency in which you will make the payment. The rate applicable at this stage is the seller’s rate (it is not the Bank’s rate and may contain a margin). In such cases the transaction is treated by the Bank as a local transaction (no fee for currency conversion will be charged), despite the fact that the Bank incurs costs relating to charges on such cross-border transactions paid to Payment Companies.

In the case of any changes to the Agreement or its integral appendices (including the Terms and Conditions, Banking Fees and Charges Schedule), you can object to these changes, which will be tantamount to the termination of the Credit Card Agreement upon 30-day notice period but no later than on the day preceding the date when the proposed changes become effective. In such case, the you can also terminate the Credit Card Agreement without notice. You can submit such instruction in writing, by phone (via CitiPhone) or via Citibank Online.

The change in the method used to convert cross-border transactions is a considerable simplification that lets the customer determine the cost of their cross-border transactions in a simple way. The fee charged by the Bank is very clearly presented in the Banking Fees and Charges Schedule.

If you raise an objection to the changes in accordance with the Credit Cards Terms and Conditions, your Credit Card Agreement will expire on the day preceding the introduction of changes, at the latest. The objection will not provide an opportunity to continue the Agreement under the old Terms and Conditions.

The fee for currency conversion of a transaction made in a foreign currency other than PLN is not a new cost for the customer. To date, the customer has paid the currency conversion fee which was included in the exchange rate applicable to the conversion of the settlement currency and a fee on transactions made outside of Europe. Now, there will be one transparent fee that will replace two previous fees. In addition, one currency translation will be applied, and the exchange rate of the Payment Companies will be applied to convert amounts from the original currency to PLN.

In the case of cash transactions made abroad, the transaction will be converted at the exchange rate of the Payment Company into PLN and a conversion fee at 5.8% of the transaction value will be added to it. Since an ATM withdrawal is a cash transaction, a fee on cash transactions at 6% of the transaction value but no less than PLN 10, will also be charged.

The CitiPhone fee is charged once a month no matter how many primary/additional accounts you maintain with us.

No.
The fee is not applied for the Ultime Credit Card holders even if they have also other Citi credit cards

Yes.
If you used the CitiPhone service at least once per month, the fee will be charged.

Yes.
The CitiPhone fee is applied separately to each product:
- for Personal Account maintenance, the fee is taken from your account,
- for Credit Card maintenance, the fee is taken from your Credit Card account.

You can submit all requests/ enquiries/ instructions using the “Contact us” section in Citibank Online.

Yes.
If your card has been cancelled and you can’t log on to Citibank Online, you can use CitiPhone free of charge.

No.
Adding a beneficiary under this type of transfer remains free of charge, and you will not be charged any CitiPhone fee.

Yes.
The CitiPhone fee is charged independently from your product account. Being eligible for using CitiPhone free of charge under your personal account does not release you from the CitiPhone fee for your Credit Card maintenance from your Credit Card account.

Yes.
Our Consultant should advise you that the CitiPhone service is unavailable for this card account.

Yes.
All telephone calls to the Automated Banker are free of charge.