UnionBank of the Philippines assumed ownership on Monday of Citi's consumer banking business in the Philippines, welcoming over a million customers.
The Aboitiz-led bank will be handling Citi's local credit card, unsecured lending, deposit, and investment business, as well as its asset management portfolio.
For Citi card holders, here are answers to common questions about the acquisition:
Can I still use the Citibank mobile app and website?
According to UnionBank, Citi customers can continue to use the Citibank online website and mobile app until the full integration which is estimated to happen "sometime middle of 2023".
"We will advise you well in advance about any development to your access and use of these existing Citi® platforms," UnionBank said.
What will happen to my Citi account?
UnionBank said Citi accounts and services will be migrated to UnionBank's systems and platforms upon full integration, which is estimated to happen "sometime middle of 2023".
"We will advise you and other affected clients on what to expect during this process well in advance. Our aim is to make it as seamless as possible and any changes (which we will manage to be few if any at all) will also be well communicated in advance," UnionBank said.
I'm a UnionBank customer. Can I transact now with my UnionBank branch for my Citi account?
UnionBank advises its clients who also have Citi accounts to continue transactions for the latter on Citi platforms until the full integration.
"All Citi accounts and services like Citibank Online and Citi Mobile App apps, ATMs, cards, branches, etc. will still be accessible on Citi platforms. And, if you transact with Citi Relationship Managers, you will continue to work with them for both your accounts and any of your investments. This will be the case until we complete full integration activities between UnionBank and Citi®, estimated to happen sometime middle of 2023," UnionBank said.
What will be the changes in terms of service?
UnionBank has assured Citi customers that it would "maintain Citi’s high level of customer service and engagement, so that you will continue to receive the same excellent quality level of service."