Axis Bank completes Citibank India transition: What changes, what remains

The era of Citibank in India has officially come to a close as Axis Bank completes the transition of Citibank customers to its banking platform. Former Citibank customers are now under the Axis Bank umbrella. If you were already an Axis Bank customer, you should see your Citibank accounts and credit cards merged into your existing Axis Bank Customer ID. New customers will receive new customer ID details from Axis Bank to set up their accounts.

In March 2023, Axis Bank acquired Citibank’s India consumer business for Rs 11,603 crore.

What stays the same

Axis Bank assures that changes will be minimal post-transition:

 

The PIN, card number, expiry date, and CVV will remain unchanged.

Card controls and transaction limits, including ATM, point-of-sale, and e-commerce transactions, will stay the same.

Outstanding balances, EMIs, annual fees, and spend-based fee waivers will not change.

The billing cycle, including statement generation and payment due dates, will remain consistent.

What changes

There are, however, some adjustments to be aware of:

Payment channel: Payments will now be processed through Axis Bank instead of Citibank. Customers will need to use the Axis Mobile app for digital banking services.

Customer service: Support will be available via Axis Bank Phone Banking. All alerts and payment authentication details will now come from Axis Bank.

e-NACH mandates: For existing e-NACH mandates for card repayment, Axis Bank will present three days prior to the due date to ensure timely credit to the credit card account.

What does it mean for Citi credit card holders?

You'll be getting new Axis Bank cards by the end of 2024. Until then, your Citi-branded cards will continue to work as usual.

What will your new Axis Bank credit cards offer?

Axis Bank has detailed the benefits of the new cards you'll receive. Here’s a breakdown:

Citi Rewards Credit Card (now Axis Bank REWARDS Credit Card)

Rewards: Earn 20 EDGE REWARD Points for every Rs 125 spent on apparel and departmental stores.

Other spends: Earn 2 EDGE REWARD Points for every Rs 125 spent on other categories.

Bonuses: 1,500 EDGE REWARD Points on net spends of Rs 30,000 each statement cycle.

Redemptions: Use points for travel bookings, partner outlets, airline miles, catalogue purchases.

Perks: Complimentary lounge access twice per quarter at select domestic airports, 30% off twice a month on Swiggy.

IndianOil Citi Credit Card (now IndianOil Axis Bank Premium Credit Card)

Fuel transactions: Earn 6 EDGE Miles for every Rs 150 spent at registered IOCL outlets.

Groceries: Earn 2 EDGE Miles for every Rs 150 spent.

Other categories: Earn 1 EDGE Mile for every Rs 150 spent.

Redemptions: Use EDGE Miles for free fuel, travel, partner outlets, airline miles, catalogue purchases, and cashback.

Perks: Complimentary lounge access twice per quarter, 30% off on Zomato food delivery twice a month, 1% fuel surcharge waiver at over 35,000 IOCL outlets.

Citi PremierMiles Card (now Axis Bank Horizon Credit Card)

Travel spends: Earn 5 EDGE Miles for every Rs 100 spent on Axis Bank Travel EDGE website and airline spends.

Other spends: Earn 2 EDGE Miles for every Rs 100 spent.

Redemptions: Use EDGE Miles for bookings via Axis Bank Travel EDGE portal, catalogue purchases, and partner outlets.

Transfer miles: Convert EDGE Miles to 20+ airlines and hotel loyalty programmes.

Perks: 2 complimentary lounge visits per quarter at international airports, up to 8 at domestic airports, exclusive offers with Axis Bank Dining Delights via EazyDiner, 1% fuel surcharge waiver, lost card liability cover of Rs 10 Lakh.

First Citizen Citi Credit Card (now Axis Bank Shoppers Stop Credit Card)

Shoppers Stop: Earn 20 FIRST CITIZEN Reward Points for every Rs 200 spent on private label brands, 12 points for other brands.

Other categories: Earn 2 FIRST CITIZEN Reward Points for every Rs 200 spent.

Redemptions: Redeem points instantly on Shoppers Stop website and stores.

Perks: Complimentary Shoppers Stop Golden Glow membership, exclusive sale previews, exclusive offers with Axis Bank Dining Delights via EazyDiner, 1% fuel surcharge waiver.

Citi Cash Back Credit Card (now Axis Bank Cashback Credit Card)

Online spends: Up to 7% cashback on online spends.

Travel and offline spends: Unlimited 0.75% cashback.

Utility bills: 0.5% cashback up to Rs 100 per month.

Perks: Exclusive offers with Axis Bank Dining Delights via EazyDiner, auto-credited cashback.

IKEA Family Credit Card by Citi (now IKEA Family Credit Card by Axis Bank)

IKEA spends: Earn 3 EDGE REWARD Points for every Rs 100 spent at IKEA.

Dining: Earn 2 EDGE REWARD Points for every Rs 100 spent.

Other categories: Earn 1 EDGE REWARD Point for every Rs 100 spent.

Redemptions: Redeem points at IKEA stores via SMS.

Perks: Exclusive offers with Axis Bank Dining Delights via EazyDiner, exclusive EMI rate of 13% p.a. on IKEA purchases, 1% fuel surcharge waiver.

CitiBusiness Credit Card (now Axis Bank REWARDS Credit Card)

Rewards: Earn 20 EDGE REWARD Points for every Rs 125 spent on apparel and departmental stores.

Other spends: Unlimited 2 EDGE REWARD Points for every Rs 125 spent.

Bonuses: 1,500 EDGE REWARD Points on net spends of Rs 30,000 each statement cycle.

Redemptions: Use points for travel bookings, partner outlets, airline miles, catalogue purchases.

Perks: Complimentary lounge access twice per quarter, 30% discount on Swiggy twice a month.

IndianOil CitiBusiness Credit Card (now IndianOil Axis Bank Premium Credit Card)

Fuel transactions: Earn 6 EDGE Miles for every Rs 150 spent at registered IOCL outlets.

Groceries: Earn 2 EDGE Miles for every Rs 150 spent.

Other categories: Earn 1 EDGE Mile for every Rs 150 spent.

Redemptions: Use EDGE Miles for free fuel, travel, partner outlets, airline miles, catalogue purchases, and cashback.

Perks: Complimentary lounge access twice per quarter, 30% off on Zomato food delivery twice a month, 1% fuel surcharge waiver at over 35,000 IOCL outlets.

Citi Prestige Credit Card (now Axis Bank Prestige Credit Card)

International spends: Earn 2 EDGE Miles for every Rs 100 spent.
Other spends: Earn 1 EDGE Mile for every Rs 100 spent.

Redemptions: Use points for travel bookings via Axis Bank TRAVEL EDGE portal, partner outlets, airline miles, catalogue purchases. Convert EDGE Miles to 20+ airline and hotel loyalty programmes.

Perks: 2,500 EDGE Miles on annual renewal, complimentary vouchers worth Rs 10,000 from ITC or Taj Hotels, complimentary night on booking a 2-night stay at select hotels, reduced forex mark-up of 1.8%, unlimited complimentary access to domestic and international airport lounges, up to 20 complimentary lounge visits for guests, eight domestic airport meet-and-greet services and two airport transfers per year,  eight complimentary golf rounds/lessons annually, 24x7 concierge services, complimentary tickets on BookMyShow, exclusive offers with Axis Bank Dining Delights via EazyDiner.