Citi offers payment holiday to flood-hit customers
MANILA, Philippines - Citi is offering a 30-day payment holiday for Citibank and Citibank Savings clients, who were affected by the flooding in Metro Manila and nearby provinces.
In a statement, Citi said Citibank and Citibank Savings credit cardholders and clients with personal loans may ask for a relief of 30 days to settle their outstanding balances.
Qualified cardholders and personal loan customers will be entitled to an extra 30 days to settle their outstanding balance from their most recent payment due date.
While late payment charges will be waived, interest charges will accrue on the balance.
"This is one way we can provide assistance to our customers, following the devastation wrought by southwest monsoon. We have been monitoring closely the situation and understand that some will need time to recover and rebuild. This program will give them time to settle their card bill or loan account as well as enjoy continued access to credit, which should be very useful to them in their current situation," said Citi country officer Sanjiv Vohra.
This is Citi's second time to declare a payment holiday in the Philippines. The first was during Tropical Storm Ondoy in 2009 when Metro Manila residents were also badly affected by floods.
At the same time, Citi is teaming up with Phil. Red Cross, which is one of the charity beneficiaries in its Rewards program. Citi cardholders may use their rewards points to make a cash donation to PRC. Every 1,000 rewards points will be equivalent to a P100 donation.
Citi cardholders can also donate via Citi Mobile Payments towards ABS-CBN Foundation's Sagip Kapamilya. To donate, clients who are enrolled in Citi Mobile only need to text CITIGIVE<space>KAPAMILYA<space>AMOUNT<space>MPIN to 2201 for Globe and Sun subscribers and 350 for Smart subscribers.