The bank said that, in the future, customers with a Citibank credit card in Germany, and throughout Euroland, will be able to withdraw cash without any charges. Outside Euroland, meanwhile, the charge for withdrawing money from a cash machine will be abolished, leaving only the foreign handling fee to be paid.
This means that customers of Citibank Germany will be able to withdraw cash free of charge at a million ATMs worldwide. However, it does entail increases in annual fees.
Customers wishing to use the ‘free cash’ service will see the annual fee for their credit card increase by E10 to reach E30 for Classic cards, to E40 for CitiBest Gold cards and to E76 for Gold cards.
If customers want to continue using their credit cards without this service, the annual fee will remain unchanged.
Citibank said that its studies show that free-of-charge access to cash ranks for customers among the most important criteria when it comes to choosing a bank.
