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Citibank in Australia is a part of the global Citigroup, which has been a financial institution in Australia since 1970’s. They are recognised for being one of the largest financial service organisations in the world. In 1985 Citibank was the first foreign bank to be granted an Australian banking licence, and now they are a part of the Australian Government’s Financial Claims Scheme, guaranteeing the security of deposits of up to $250,000 per person.
Earn up to 0.75% p.a. interest on your AUD balance.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free.
Citibank provides its Australian customers with a variety of options to boost your savings. Whether you are looking for a basic savings, one that provides you with total access, or have a long term savings goal in mind, Citibank could help. If you choose an account with Debit Mastercard, you can withdraw funds at a number of Australian ATMs including those at BankSA, Bank of Melbourne, Westpac and St.George.
The Citibank mobile banking platform gives customers the ability to view account related information, transfer funds, pay bills, view reward points balance and redeem rewards. Using the online platform you can also make bill payments, manage payees, initiate multiple payments, get eStatements and request chequebooks and deposit books.
To provide online security, Citibank encrypts to all data sent and received, and its Online Authorisation Code system provides additional security when performing third party funds transfers.
The Citibank Plus Transaction account doesn't charge fee for conducting and international money transfer. Though do keep in mind that third party fees may arise. There are two types of Citibank international transfers:
Yes you can, but you will need to have a Citibank Plus account linked to the card as the primary account.
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Frank just bought a new phone and his old phone was registered with the Citibank OTP app. He was wondering if he could just download the OTP app without deregistering the old phone. His phone number and telecommunications provider is the same though he had to swap the SIM card.
Unfortunately, for security reasons, if you register your Citibank account with the OTP app on your new phone, it will automatically de-register your account from the old phone.
With the exception of the terms saving account, you can quickly begin your application for a Citibank savings account online.
Before beginning the application, ensure that you have compared the features and benefits of savings accounts with various Australian banks. This will help you in choosing the right one to suit your needs.
Earn a competitive fixed interest rate on a 3 or 6 month Citibank term deposit when you invest $10,000 or more.
Hold up to 10 currencies in this account with one linked debit card, and receive foreign currencies for free.
With the security of a term deposit and the flexibility of foreign funds, Citibank gives you the chance to watch your wealth grow.
Open the Citibank Cash Investment Account to earn competitive interest on your parked money while you formulate your next course of action.
If you are looking for a simple way to save with no strings attached, take a further look at the Citibank Online Saver.
With an everyday account that is virtually free of fees, you can use your money like it's cash in your pocket. Compare that feature with other transaction accounts to see if they are able to provide you with that same benefit.
Are you $250k+ term deposit offers open to business customers? The business holds enough assets to qualify and we (as it’s directors) have professional investor status
Hi Natalie,
Thanks for leaving a question on our page.
Citibank’s $250k term deposit is only for personal investors. You may instead refer to the Citibank term deposit and investment for wholesale investors. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. If you think your company falls into the categories, feel free to contact the bank for further assistance.
Hope this helps!
Best,
Nikki
Is the Online Saver covered under the Fed Gov Financial Claim Scheme?
Hi Chris,
Thank you for reaching out to finder.
Yes, the Online Saver covered under the Fed Gov Financial Claim Scheme (Up to $250,000 per person, per institution). Hope this helps!
Cheers,
Reggie
Does Citibank enjoy same Australian government guarantee as our big four banks
Hi Jim,
Thanks for your question.
The Australian Government provides guarantee to deposits up to $250,000 in Authorised Deposit-taking Institutions (ADIs) including banks, building society or credit union. Just like the major banks, Citibank deposit accounts are covered by government guarantee of up to $250,000 per person, per institution.
Cheers,
Anndy
We are retired 72 and 76Yr with 126700 in a progress saver for many years now, The 2nd may to 31 oct interest earned on deposits was $1370 do you have a bank with better returns?
Hello Allan,
Thank you for your question.
For a higher interest rate, you may check our page about high-interest savings accounts. It can be your guide to earn up to 3.05% p.a. with a high interest savings account.
I hope this information has helped.
Cheers,
Harold
Traveling to USA do I need to load debit card with Australian dollars or American dollars. Especially when the USA dollars are high? Thanks
Hi Vivienne,
Thanks for your question.
Are you looking at the Citibank Plus everyday Transaction account? This account does not charge you any fees when making transactions overseas. However, as it’s an Australian debit card, you can only hold AUD in the account. If you prefer to use USD, consider getting a prepaid travel card before going overseas. A prepaid travel card lets you lock in exchange rates and avoid currency conversion or ATM withdrawal fees.
Hope this helps.
Clarizza