Citibank ATM/Transfer Message Alarms Customers

Citibank released a statement to its customers in December announcing the reduction of the limit on ATM with-drawals to $5000 and outgoing 3-day wire transfers to $2000. This has caused some concerns ranging from the bank's security measures to the bank's capital constraints. The ATM withdrawal limit has raised questions over increased ATM crimes and fraud. The wire transfer limit has been imposed purportedly so that the Bank can charge a small fee on transfers higher than $2000.