Nervous about Citi?

I cannot decide if I should be nervous about Citi. The card to the left was the most useful card when I am overseas. But just three days ago I could no longer get any cash from Citi ATMs here in Dubai, and I needed the money to pay the real estate agent for her services.

When I got in touch with Singapore, I was told that their Business unit in UAE has stopped indefinitely their ATMs from dispensing cash to foreign Citi accounts. No reasons were given. I am grateful to the staff of Citi in Singapore for providing the workarounds - Use HSBC ATMs

Eventually my relationship manager emailed me and I told him that this is very bad. People could start a bank run rumour here.

Today, I stood one floor above a Citi ATM at the mall and observe customers trying to withdraw cash. Many of them were unsuccessful. I find this most incredible. Citi is going to have many unhappy customers here in Dubai. Citibank in Dubai really has to get their act together. At the very least they ought to provide more helpful messages on their ATM displays.

The reason why people here hasn't panicked is because for now Dubai seemed on the surface to appear unaffected by the global financial tsunami. I am sure it will come because I believe this place is leveraged to the eye balls. :-(