The exit of Citibank from Retail Banking in India and 12 other markets was the topic of discussion in every banking circle in India when it was announced in 2021. In early 2022, Citi and Axis Bank announced that Axis Bank would take over the Indian business of Citi (Retail), a transaction that was closed out in March 2023. Since then, Citi has been operating in India on behalf of Axis Bank since. As Axis Bank had the license to use the Citi trademark (temporarily), Citi IT systems and personnel were being used, Citi service standards were being used, and so on. A complete transition was planned in July 2024, and now, Citi India is wholly handed over to Axis Bank.

Axis Bank Completes Migration from Citi

Between July 13 and 15, 2024, Axis Bank transitioned Citibank customers to their banking platform, and these customers are now Axis Bank customers. If you are already an Axis Bank customer, you should be able to see the Citibank accounts and credit cards merged into your existing Axis Bank Customer ID.

If you are new to Axis Bank, they will send you your new customer ID details so they can set you up. Just to let you know, new customers or old, you will still need to log in afresh with your customer ID and password. For instance, my biometrics on the phone were lost, and I needed to log in with the cust-id and password afresh to set it up.  A “first-time login” is also set up for Citi customers on the Axis Bank Internet Banking website.

Once you log in, the credit cards appear in their new form. For instance, my Citi Prestige is now Axis Olympus.

The credit limits work as intended, with the combined credit limits of all your credit cards from Citi and your Axis Bank Credit Cards showing up together. The limits are now fungible.

The rewards have not been transitioned yet. For instance, at 10:30 AM IST on July 15, 2024, this is the message on Axis Bank’s rewards website. Some people online tell me rewards will not be available until July 17, 2024.

Some other ancillary websites that provide services, such as Extraordinary Weekends, which is used to book airport transfers and Meet & Assist Services (both new for Axis Bank Olympus), can also use the ex-Citi BIN numbers for login.

Bottomline

Citibank’s retail banking business customers have transitioned to Axis Bank over the weekend of July 13-14, 2024. The bank and credit card products are all showing up on Axis’ banking platforms, and you should be able to use Axis Bank Phone Banking and Axis Bank branches. The rewards transition, though, has not been completed so far and should be done later this month.

What has been your experience with the transition from Citibank to Axis Bank? Do share in the comments. 

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