Readily available cash from your credit card
Get big things done in an instant
Cash amount up to your credit limit into your bank account in as fast as 60 seconds.*
Cash on your terms
Get it anytime on your smartphone and repay with plans up to 60 months.
Simple and Hassle-free
No documents required.
* Cash is deposited instantly only with a Citi account. For other bank accounts, it will take up to 5-7 banking days.
* A Processing Fee of P900 will be charged to your Citi credit card once your Citi Speed Cash application is approved.
* Application is subject to credit evaluation and approval
How others are using Citi Speed Cash
Frequently Asked Questions
What is Citi Speed Cash (also known as Call for Cash)?
What's the difference between Citi Speed Cash and Cash Advance?
How do I apply for a Citi Speed Cash?
Can I apply for a Citi Speed Cash if I don't have a Citibank Online account?
How long will it take until I get the cash?
How will I know if I qualify for a Citi Speed Cash?
Can I pay off my installment prior to maturity?
How do I know if my transaction has been converted successfully?
If you book online, a confirmation page will be displayed upon successful processing of your Citi Speed Cash request.
You may also check your outstanding Citi Speed Cash transactions by selecting Services > Card Services in your home page and clicking on PayLite Inquiry under PayLite.
Terms & Conditions
TERMS AND CONDITIONS OF THE CITI SPEED CASH FACILITY
In these Terms and Conditions of the Citi Speed Cash Facility ("Terms and Conditions"), "Card" means all credit cards issued by us, Citibank, N.A. (Philippine Branch) (also referred to as "we", "our", or "us"), while "you" refers to the select Citi principal Cardholders who are of good credit standing and who are eligible to avail of Citi Speed Cash. By availing of Citi Speed Cash (also known as Call for Cash or Click for Cash), you agree to the following Terms and Conditions, and all applicable terms and conditions under the Citi Card Agreement and all related provisions of the Citi Installment Facilities:
- Citi Speed Cash is an installment facility wherein select Citi Cardholders of good credit standing may avail of cash charged against the Card and pay the same, together with applicable interest and other fees, on installment basis ("Installment Transaction"). We may at our option require a minimum availment amount to qualify for Citi Speed Cash. The Citi Speed Cash request will be subject to verification and credit approval by us. The approved principal amount of the Citi Speed Cash transaction ("Principal Amount") must not exceed the unused portion of your Citi Card Credit Limit.
- Where we approve a request for Citi Speed Cash, the total Citi Speed Cash amount ("Principal Amount") shall be subject to these Terms and Conditions and all applicable terms and conditions under the Citi Card Agreement and all related provisions of the Citi Installment Facilities.
- Citi Speed Cash transactions shall not earn points, rebates and miles ("Usage Privileges").
- You expressly agree that charging of the Principal Amount is deferred for the first Statement of Account, and acknowledge that you will pay an initial interest in consideration of the longer payment period provided to you to repay the Principal Amount. The Monthly Installments Due will be reflected on your second and succeeding Statements of Account after the approval date, and the interest component of the Monthly Installment Due will be computed as set out below.
The initial interest is computed based on the actual number of days from the approval date of your Installment Transaction to your first statement date after the said approval date. It will be charged on your first Statement of Account issued following the approval date. The initial interest is calculated by multiplying (i) the approved Principal Amount, (ii) the applicable monthly Effective Interest Rate (EIR) [computed as set out below] and (iii) the number of days from the approval date to the first statement date; and dividing the total by 30 days.It will be reflected on your Statement of Account as the charge on Month 0 [Speed Cash or Call for Cash Initial Int].
The Monthly Installment Due will be billed and reflected on your SOA after the Posting Date as [Installment Facility or Merchant Name (001:00x)] and so forth.
You may compute the monthly installment due ("Monthly Installment Due" or "MID") using the following formula:
Principal Amount x [1+(Converted Monthly Factor Rate x Term)]
Where Term is the number of months that you chose for your Installment Transaction.
Each MID of your Installment Transaction will be included in the Minimum Amount Due ("MAD") in your SOA until the end of the Term of the Installment Transaction.
The MID of your Installment Transaction comprises the billed Principal and interest components, which are computed on a diminishing balance basis. The Interest and principal components of the Monthly Installments Due vary each month and are computed as follows:
Prior month's outstanding principal balance x monthly Effective Interest Rate (EIR), where monthly EIR = (1 + Annual EIR) 1/12 -1.
Monthly Installment Due - interest component for the month.
The Monthly Installments Due will be reflected on your second SOA from the approval date and succeeding Statements of Account as [Speed Cash or Call for Cash(001:00x)] and so forth.
Your availment of the Citi Speed Cash means you agree to pay us interest on the Principal Amount on the dates specified in the SOA at the applicable Converted Monthly Factor Rate with a corresponding Effective Interest Rate per annum based on the outstanding principal balance and the Term.
Term* Converted Monthly Factor Rate** Annual Effective Interest Rate*** 12 months 1.00% 23.70% 18 months 1.00% 23.92% 24 months 1.00% 23.84% 36 months 1.00% 23.39% 48 months 1.00% 22.85% 60 months 1.00% 22.31%
*The Term in this table refers to the number of months that you will be paying for the Principal Amount and the applicable monthly interest. The Term does not include the period covered by the first SOA (period covered by the initial interest).
**The Converted Monthly Factor Rate (CMFR) is presented as a guide that you can use to derive the Monthly Installment Due (principal plus interest).
*** The computation of Annual Effective Interest Rate includes a Processing Fee of Php 900.
NOTE: THE EFFECTIVE INTEREST RATES (EIR) IN THE EXAMPLE ABOVE ARE BASED ON INTEREST COMPUTED ON A FIXED 30-DAY PERIOD PER MONTH. THE ACTUAL EIR OF THE INSTALLMENT TRANSACTION MAY BE HIGHER OR LOWER AS THIS INCLUDES THE INITIAL INTEREST AND THE PROCESSING FEE.
- If your Citi Speed Cash request is approved, you shall be charged a non-refundable Processing Fee of Php 900 for each Citi Speed Cash Transaction.
- You shall receive the Principal Amount of your Citi Speed Cash Transaction via credit to your bank account which should be under your name.
We will charge the interest rate and/or fees as disclosed at the date of availing the Installment Transactions which shall be applicable during its entire Term and no additional fees and interest will be charged for this Installment Transaction, ONLY if you pay in full the Total Amount Due of your SOA by the Payment Due Date every month until you have paid all installments. However, if you pay (or had paid) an amount that is:
(i) equal to or greater than the Minimum Amount Due but less than the Total Amount Due indicated in your current (or previous) SOA, the billed portion of the Principal Amount of your MID in your current SOA will be subject to the prevailing monthly retail interest charge from one day after Statement Date to one day before payment date. Interest will be compounded on a monthly basis.
(ii) less than the Minimum Amount Due as reflected in your current (or previous) monthly SOA, the billed portion of the Principal Amount of your MID will be subject to the prevailing monthly retail interest charge from one day after Statement Date to one day before payment date and additionally any unpaid portion of the billed portion of the Principal Amount of your MID will also be subject to the prevailing monthly retail interest charge from the payment date to the next Statement Date. Interest will be compounded on a monthly basis. Usual Late Charges will also apply. The above is subject to the terms of our Citi Card Agreement.
This illustration focuses on Citi Speed Cash Installment Transaction of Php 50,000 for 12 months and straight retail transaction of Php 5,000, assuming you have paid the MAD on the Payment Due Date.
Statement Date January 4 Payment Due Date January 21 Billed MID
Billed Straight Retail Transactions Php 5,000.00 MAD specified in the Statement of Account
Billed MID plus 1% of the Billed Straight Retail Transactions (Php 4,667.67 + Php 50)
Php 4,717.67 Total Amount Due Php 9,667.67 Payment made on January 21 (equivalent to MAD) Php 4,717.67 Retail interest rate as set out in the Statement of Account 2% per month [A] Interest charged on the Principal Portion of your billed MID (Php 3,772.62) + straight retail transactions (Php 5,000.00) from 1 day after current statement date to 1 day before payment date (16 days) at a retail interest rate of 2% per month Php 93.57 [B] Interest charged on the Unpaid Portion of the Total Amount Due (Php 4,950.00) from payment date to next statement date (January 21 to February 1 = 12 days) Php 39.60 Next Statement Date February 1 Total interest charged in February 1 Statement
[A] + [B]
- If your Card account is past due for 60 days or more, the Installment Transaction will be cancelled. Any remaining unpaid balance will be billed to the Card account in full and will be subject to the prevailing monthly retail interest Charge. Please refer to the Citi Card Fees and Charges for the prevailing rates, fees and charges at www.citibank.com.ph/cardsrandf.
- If you wish to cancel an Installment Transaction before its Term ends, you may do so without a prepayment penalty. In that case, you agree to pay in full the unpaid portion of the Principal Amount and the cancellation processing fee equivalent to 4% of the unbilled portion of the Principal Amount, plus accrued interest charges on the cancelled Installment Transaction computed based on the actual number of days from the last statement date until the date of cancellation.
The accrued interest is calculated by multiplying (i) the remaining unbilled portion of the Principal Amount, (ii) the applicable monthly EIR [computed as set out above] and (iii) the number of days from the last statement date to the date of cancellation; and dividing the total by 30 days.
In case of promotions where we give you a premium item/s (which include promotional items, Usage Privileges, etc.), we may charge the full monetary equivalent of the premium item should you cancel the Installment Transaction.
Below is a sample repayment schedule:
CITI SPEED CASH REPAYMENT SCHEDULE PRINCIPAL AMOUNT Php 50,000 TERM 12 MONTHS CONVERTED MONTHLY FACTOR RATE 1% ANNUAL EIR 27.44% APPROVAL DATE 1/1/2020 NEXT STATEMENT DATE 1/31/2020 PROCESSING FEE Php 900 INSTALLMENT PERIOD SPEED CASH AMOUNT (Php) MONTHLY INSTALLMENT DUE (Php) INTEREST COMPONENT (Php) PRINCIPAL COMPONENT (Php) OUTSTANDING PRINCIPAL BALANCE (Php) 50,000.00 0 894.05 1 4,666.67 894.05 3,772.62 46,227.38 2 4,666.67 826.59 3,840.08 42,387.31 3 4,666.67 757.93 3,908.74 38,478.57 4 4,666.67 688.04 3,978.63 34,499.94 5 4,666.67 616.89 4,049.77 30,450.16 6 4,666.67 544.48 4,122.19 26,327.98 7 4,666.67 470.77 4,195.90 22,132.08 8 4,666.67 395.74 4,270.92 17,861.16 9 4,666.67 319.38 4,347.29 13,513.86 10 4,666.67 241.64 4,425.03 9,088.84 11 4,666.67 162.52 4,504.15 4,584.69 12 4,666.67 81.98 4,584.69 0.00
- You acknowledge that your Installment Transaction will be maintained for the Term stated in the offers/communication materials, disclosure statement and/or other documents furnished to you and that we have already incurred cost of funds and committed yield to fund sources which finance the Installment Transaction. In case you pre-pay any Installment Transaction before the lapse of the Term, you agree to reimburse us for any loss or additional cost, including but not limited to processing the pre-payment.
- You understand that we prohibit the use of proceeds from unsecured credit facilities for investments into Citi wealth management products. You confirm that the proceeds from your Card will not be used for subscription into Citi offered wealth management and insurance products. In the event that the proceeds have been used for these purposes, we will be entitled to do all acts and things necessary to comply with our policies, including but not limited to liquidating your holdings of investments/insurance at that time. You agree to bear all costs and expenses that we may incur as a result.
- In case of (a) any change in law or regulations which gives rise to new additional taxes, higher reserve requirements or similar events, or (b) significant change in the economic environment, we may adjust any applicable charges and Installment interest even before the Term expires.
- Please be advised that by clicking/tapping the button, agreeing over the phone and availing of Citi Speed Cash through your Citi credit card/s, you are providing your explicit consent to Citi’s Data Privacy Terms (Consent for Processing, Profiling and Sharing of Data and Information and Data Privacy Statement) and to the updated Citi Card Agreement and the Citi Card Fees and Charges. For the full Consent and the Data Privacy Statement and latest version of the Citi Card Agreement and the Citi Card Fees and Charges, please go to www.citibank.com.ph/global_docs/pdf/cardstandc.pdf.
- You acknowledge that by availing of Citi Speed Cash if your card account is currently insured under CreditShield, there will be an increase in the computation of your CreditShield premiums charged to your card. CreditShield premiums are computed based on a percentage of your credit card’s total outstanding balance, and including the principal component of any unbilled instalment amount/s and unbilled charges.
- Please be advised that even if you have not yet activated your card, your request for Citi Speed Cash may still be processed. To activate your card, download the Citi Mobile App at http://citi.asia/2feYNSR or you may also visit https://www.citibank.com.ph/mobilebanking/card-activation.html.
- All Installment Transactions are subject to the Citi Card Agreement and all related provisions of the Citi Installment Facilities.
- These Terms and Conditions should be read together with the Citi Card Agreement, to produce a result that is harmonious and consistent. In the event of any inconsistency or conflict between the provisions of these Terms and Conditions and the Citi Card Agreement, these Terms and Conditions shall prevail in relation to the Principal Amount applied under the Facility.
SUMMARY SCHEDULE OF FEES AND CHARGES Processing Fee Php 900 for each approved transaction Cancellation Processing Fee 4% of unbilled portion of the Principal Amount Monthly Late Charge Php 1,500 or the unpaid Minimum Amount Due, whichever is lower. Late Charges do not apply to Citi Simplicity+.
For any concerns, you may call us at (632) 8995-9999 or send us a message through www.citibank.com.ph. Citibank, N.A. Philippine Branch is regulated by Bangko Sentral ng Pilipinas with contact details at https://www.bsp.gov.ph.
For your complaints/concerns, we will endeavor to resolve these within 7 business days. For complaints/concerns requiring more time to resolve, we will be in touch with you and inform you of the progress.