Product details
The Citi Global Currency Account is an everyday transaction account, multi-currency account and travel debit card in one. You can hold up to 10 different currencies in the account, and withdraw the correct local currency from international ATMs with no withdrawal fee.
Read on to learn more about the impressive list of features this account offers.
You’ll receive individual account details for the foreign currencies held in the account, allowing you to receive money in foreign currencies from the one account. Plus, you can even receive interest on your AUD balance.
- Product Name
- Citi Global Currency Account
- Maximum Variable Rate
- 1.75% p.a.
- Standard Variable Rate
- 1.75% p.a.
- Bonus Variable Rate
- 0.00% p.a.
- Monthly Fee
- $0
- Minimum Opening Deposit
- $0
- Internet Banking
- Yes
- Phone Banking
- Yes
- Minimum Age Requirement
- 18
Features
Hold up to 10 currencies
You can hold up to 10 different currencies in the one account, including AUD, USD, EUR, SGD, NZD, JPY GBP, CAD, HKD and CHF. You can load your account with these currencies when the exchange rate is in your favour.
Receive international bank account details
You’ll receive individual bank account details for up to 10 currencies held in the account, so you can receive money in those currencies. It’s like having a local bank account in those countries.
Linked Citibank debit card
This account comes with a linked debit card which you can use in-store or online all around the world. Although you can have up to 10 different bank account details, it’s all linked to the one debit card.
Use for everyday spending in Australia
This account isn’t just for international business and travel. You can also use it as your regular everyday transaction account in Australia. Use the linked debit card to make daily purchases in store or online, or pay your bills as you would with a standard bank account.
Use your debit card to pay like a local overseas
Simply set your default transaction currency to the local currency in the country you’re in, and use your debit card like a local with no foreign exchange fees. Make sure you remember to set your correct default currency via the Citi mobile app.
No international ATM fees
Because you already have the foreign currency in your account, when you’re in a country that uses that currency you can withdraw money at ATMs with no fees. However, make sure your debit card is linked to the correct currency before using the ATM, otherwise a 2.5% foreign exchange fee applies.
No international transaction fees when shopping online
If you’re shopping online on a US site, you can set your debit card transaction currency to USD to pay no international transaction fees.
Access competitive exchange rates
You can load different currencies into the account when the exchange rates are favourable, or convert foreign currency back into AUD when the Australian dollar is strong.
If a foreign currency is deposited into your AUD account, Citi will apply the current Citi exchange rate to the conversion.
Earn up to 1.75% interest on your AUD balance
If your AUD balance is between $100,000 and $249,999.99 you’ll receive 1.00% p.a interest on your funds. Balances in AUD that are higher than $250,000 will earn 1.75% p.a.
$0 monthly account keeping fee
There’s an $0 monthly account service fee for this account.
Citi mobile app available
Manage your money on the go and keep track of your transactions using the Citi mobile app. Use the app to instantly switch between transaction currencies when you’re hopping between countries.
Pros
- Hold up to 10 currencies in the one account
- Avoid international transaction fees and international ATM fees
- Receive money in up to 10 currencies for free using local account details
- Earn up to 1.75% p.a. interest on your AUD balance
- $0 monthly account fee
Cons
- Correct currency is not automatically used when using your card overseas, so you need to remember to set the transaction currency.
How to apply
You can apply online in less than 10 minutes. Before you do, check you meet the eligibility criteria and have the necessary documents handy.
Eligibility to apply
- Minimum age. The minimum age requirement for this account is 18 years of age.
- Residency requirement. In order to be eligible for this account, you must have an Australian residential address.
- Personal use only. This account if for personal use only and is not available for business applicants.
Documentation required
- Valid contact details. You must have a valid email address and phone number.
- Tax file number. You are not legally required to provide this, but if you don’t withholding tax will be deducted at the highest marginal rate.
- Identification. You’ll need to provide valid forms of ID such as your passport, birth certificate or driver's licence in order for Citi to verify your identity.
What happens after I submit my application?
After submitting your application, the information provided will be verified by Citi, and you’ll be given the details of the account. You’ll be sent your Citi debit card in the mail to your residential address. You’ll also now be able to load different currencies into the account using the Citi mobile app.
If one uses the AUD account in the Citi Global Currency Account card in South East Asia:
1) Can one withdraw AUD from a selected Citi bank branch in SE Asia?
2) If so, are their any costs and/or fees involved
3) Is there a limit on daily AUD withdrawals
4) Does the card provide for swipe/pin withdrawals
Hi Frank,
Thanks for getting in touch! Please see responses to your questions below:
Can one withdraw AUD from a selected Citi bank branch in SE Asia? If so, are there any costs and/or fees involved
No, the card will only dispense the local currency of the country you are in.
Is there a limit on daily AUD withdrawals?
The default limit is $1000 AUD. But you may request to increase your combined ATM withdrawal and EFTPOS limit to $3000 per day. Note that for the fees, no service fees are charged for using Citi-branded ATMs. Other banks may charge you for using their facility.
Does the card provide for swipe/pin withdrawals?
Yes, you can use it for EFTPOS/in-store as well as online purchases. ATM withdrawal will be by inserting the card and entering an ATM PIN.
Hope this helps!
Best,
Nikki
Re Citi Global Currency .What percentage rate is charged for overseas atm cash withdrawal from currency not listed on card
Hi Paul,
Thanks for your question.
Please note that a foreign exchange fee of 2.5%, will apply if you withdraw money from an ATM and the currency withdrawn is different from the currency of the account. Any fees will be applied when the transaction is completed and will include any additional ATM operator fees and charges that may apply.
Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
Best,
Nikki
Can I open a Citi Global Currency Account under a company (Pty Ltd) name?
Thanks.
Hey Jack,
Thanks for your question.
It’s helpful to know that The Citi Global Currency Account is for personal use only and is not available for business applicants. You can refer to this page for business bank accounts.
As a friendly reminder, review the eligibility criteria of the product and read up on the terms and conditions before applying. Feel free to reach out to the bank if you have clarifications.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
With care,
Nikki
Hi – On the Citi Global Transaction account it states that there are no overseas ATM charges. Does this mean I can withdraw funds from any overseas bank ATM or do I have to look for Citibank ATMs in the foreign country
Hi Anita,
Thanks for getting in touch! The Citi Global Transaction account explains that they don’t charge any ATM withdrawal fees if you withdraw from an ATM other than Citibank – however, non-Citibank ATMs will charge you a fee for withdrawing from them. Hope this clarifies!
Best,
Nikki
My daughter (18) is travelling through Europe. Is there a minimum deposit with this account? How many & how convenient are the Citi ATM’s and how do I find where they are? Can she select any 10 countries of her choosing?
Thank you.
Hi Kylie,
Thank you for getting in touch with Finder.
There’s no minimum deposit amount on this Citi Global Currency account. You may check Citi’s ATM locator website to find out the nearest Citi ATM. Yes, your daughter may choose the currency she wishes to load up this Citi Global Currency account.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
If I have linked my debit card to US currency. How do I know which account will be debited while in USA if paying by card in a store?
Hi Emily,
Thanks for reaching out. You can download the Citi mobile app on your phone. As it says on the information above, you can manage your money on the go and keep track of your transactions using the Citi mobile app. Use the app to instantly switch between transaction currencies when you’re hopping between countries.
Hope this helps! Feel free to email back if you have any questions, we’re on standby!
Cheers,
Nikki
Can this account be set up as a joint account and what is the interest rate for balances below $100, 000.00?
Hello Robert,
Thank you for your comment.
The interest rate for balances below $100,000 is at 1.00% p.a. and the Citi Global Currency Account is not set up for joint account.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
I have a small business that invoices and get paid in various currencies with an expected turnover in the $300,000 range. Is there a “Business” account that can be used for multiple currencies with a small turnover?
Thanks,
Carlo
Hi Carlo,
Thanks for getting in touch with finder. I hope all is well with you. :)
We currently don’t have a specific list of business accounts with various currencies. However, we do have a list of multi-currency accounts that you can still use for business. Please go to this page. On that page, you will see a table that allows you to conveniently compare your options. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
With the global currency account what are the monthly fees? Also what fees are occurred if I want to send GBP to a UK bank at some point. HSBC charge 0.25% for currency leaving the country.
Hi Johnny,
Thank you for getting in touch with finder.
There is no monthly fee with the Global Currency account. Funds transfer facility is fee free for the Global Currency Account. However, some banks need an intermediary bank to process wire transfers, and this will result in an additional charge. An intermediary bank is required when sending a payment in a currency that is not the domestic currency for the destination country. Therefore, it shows that Citibank has no control over other financial institutions, their fees and charges or any government legislation or controls that may create costs for your transaction or those financial institutions or regulate the way in which they operate.
As a friendly reminder, we don’t represent any company that we feature on our pages. I suggest that you contact Citibank directly for any account-specific enquiry.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni