Citibank IPB Pricing Guide

Start a relationship with International Personal Bank Singapore today.

Start a relationship with International Personal Bank Singapore today
Accounts

We offer 4 types of Transaction Accounts for greater flexibility.

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Savings Accounts are available in 11 currencies and let you earn a competitive daily interest that is credited monthly to your account.

Minimum initial deposit: Personal Business
AED, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, USD US$5,000
(or equivalent)
N.A.
SGD S$5,000 N.A.

Checking Accounts are available in 15 currencies. Personalized checkbook is available for SGD and USD Checking Accounts, and we also provide you with a monthly statement showing all cleared checks.

Minimum initial deposit: Personal Business
US Dollar Checking Account US$5,000 US$30,000
Singapore Dollar Checking Account S$5,000 S$30,000
Other Foreign Currency Checking
Accounts: AED, AUD, CAD, CHF, DKK, EUR,
GBP, HKD, JPY, NOK, NZD, SEK, ZAR
US$5,000
(or equivalent)
US$30,000
(or equivalent)

USD Interest Checking Account pays daily interest. You can choose between a $ check cleared via Singapore (for $ payments in Singapore) or check clearance via Guam (a US Territory) or both.

Minimum initial deposit: Personal Business

Minimum balance to earn interest

0% p.a. interest rate is applied on the account balance.

US$5,000 US$20,000

MaxiSave Account, which pays daily interest, combines savings and checking facilities in a single account.

Minimum initial deposit: Personal Business
0.01% p.a. on the entire account balance. $5,000 $100,000(for non-profit organizations only)
Deposits via:
a) Foreign currency notes
Involving foreign exchange Based on Citibank's prevailing exchange rate
Not involving foreign exchange 1% commission in-lieu-of exchange (minimum $10)
b) Telegraphic transfers
$ or S$ No charge and immediate value given
Other currencies No charge and subject to spot value
Third party and other charges which may be applicable to inward remittances, will be passed along at net without mark-up or commission. To ensure that the inward remittance amount received at Citibank is exactly your intended deposit amount, please inform your remitting bank to "Pay the Beneficiary in full".

c) Travellers Checks (TCs)

Other banks' TCs including those with Citibank private label

Involving foreign exchange $20 per transaction
Not involving foreign exchange $20 per transaction and subject to a hold period prior to establishment of deposit

d) S$ checks drawn on banks in Singapore

No charge and immediate value given

e) $ checks drawn on banks in Singapore
For participating banks in the MAS $ clearing system S$ Transaction Accounts: Converted at drawee bank's buying rate and immediate value given.Foreign Currency Transaction Accounts: $5 per check with 3 business days clearance
For non-participating banks S$ Transaction Accounts: Converted at drawee bank's buying rate and immediate value given.Foreign Currency Transaction Accounts: Checks will be sent to the drawee bank in exchange for sight drafts. Upon receipt of sight drafts, there will be a 7-day hold period prior to establishment of deposit.
f) Checks drawn on banks outside their domicile country3 Checks will be sent for collection prior to establishment of deposit. Collection charges will apply.
Involving foreign exchange Collection charges: 1/8% commission (minimum $100) plus postage cost (where applicable)
Not involving foreign exchange Collection charges: 3/8% commission (minimum $200) plus postage cost (where applicable)

g) Other foreign currency checks drawn on country of currency3 e.g. $ checks drawn in USA

$5 per check and subject to a hold period prior to establishment of deposit
Withdrawals via:
a) Foreign currency notes2
Involving foreign exchange Based on Citibank's prevailing exchange rate
Not involving foreign exchange 1% commission in-lieu-of exchange (minimum $10)
b) Telegraphic transfers
Involving foreign exchange 1/8% commission (minimum $20) plus postage or cable cost (where applicable)
Not involving foreign exchange 1/8% commission (minimum $20) plus 1/8% in-lieu-of exchange (minimum $10) and postage or cable cost (where applicable)
c) Travellers Checks (TCs)
Involving foreign exchange 1% commission (minimum $20)
Not involving foreign exchange 1% commission (minimum $20), plus 1/8% in-lieu-of exchange (minimum $10)
d) Cashier's Order in Singapore Dollars
Same party as account holder $10 per check plus postage (where applicable)
Third party $10 per check plus postage (where applicable)
e) Cashier's Order in US Dollars
Involving foreign exchange 1/8% commission (minimum $20) and postage cost (where applicable)
Not involving foreign exchange 1/8% commission (minimum $20) plus 1/8% in-lieu-of exchange (minimum $10) and postage cost (where applicable)
f) SHIFT Local Electronic Funds Transfer (in S$) $20 per transaction
Other Fees & Charges
a) Stop payment for checks
Singapore Dollar Account $30 per check
US Dollar Account $30 per check
b) Returned check
Singapore Dollar Account $30 per check for all return reasons
US Dollar Account $30 per check for all return reasons
c) Marked checks
Marked through clearing $20 per check
Direct marking $30 per check plus transport cost
d) Checkbook replenishment Free
e) ATM transactions (local & overseas) Free. No charge from Citibank Singapore but local and overseas ATM charges may apply
f) Check Processing Fee
SGD-denominated check S$3 per issued check
USD-denominated check US$3 per issued check

Refer here for Cheque Processing Cost FAQ.

Please note that the minimum account balance requirement for a Citibank account is at US$200,000 and there is a monthly service fee of US$50 if the total relationship balance (TRB)[1] is less than or falls below US$200,000.

[1] ‘Total Relationship Balance’ (TRB) is calculated at customer level.
It is the sum of:
(i) the average daily balance of your checking, savings and deposit accounts,
(ii) the average daily value of your investments, and
(iii) all outstanding amount(s) payable on your secured loan accounts as of the date of your last statement

Time Deposits

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There is a wide range of currencies to choose from with tenures from 1 week to 12 months. Interest rates paid vary according to the tenure and amount deposited. With just one call to our 24-Hour CitiPhone Banking and the use of your Customer Identification Number (CIN) and Telephone Personal Identification Number (TPIN), you can switch tenures or currencies of your time deposits at your convenience.

Available in:

  • US Dollar
  • Australian Dollar
  • Canadian Dollar
  • Euro
  • Swiss Franc
  • Japanese Yen
  • New Zealand Dollar
  • Sterling Pound
  • Hong Kong Dollar
  • Other currencies1

Minimum initial deposit $50,000 or equivalent

Minimum initial deposit $5,000 or equivalent (Online)

Deposits via:
a) Foreign currency notes
Involving foreign exchange Based on Citibank's prevailing exchange rate
Not involving foreign exchange 1% commission in-lieu-of exchange (minimum $10)
b) Telegraphic transfers
$ or S$ No charge and immediate value given
Other currencies No charge and subject to spot value
Third party and other charges which may be applicable to inward remittances, will be passed along at net without mark-up or commission. To ensure that the inward remittance amount received at Citibank is exactly your intended deposit amount, please inform your remitting bank to "Pay the Beneficiary in full".

c) Travellers Checks (TCs)

Other banks' TCs including those with Citibank private label

Involving foreign exchange $20 per transaction
Not involving foreign exchange $20 per transaction and subject to a hold period prior to establishment of deposit

d) S$ checks drawn on banks in Singapore

No charge and immediate

value given

e) $ checks drawn on banks in Singapore
For participating banks in the MAS $ clearing system $5 per check with 3 business days clearance
For non-participating banks Checks will be sent to the drawee bank in exchange for sight drafts. Upon receipt of sight drafts, there will be a 7-day hold period prior to establishment of deposit
f) Checks drawn on banks outside their domicile country3 Checks will be sent for collection prior to establishment of deposit. Collection charges will apply.
Involving foreign exchange Collection charges: 1/8% commission (minimum $100) plus postage cost (where applicable)
Not involving foreign exchange Collection charges: 3/8% commission (minimum $200) plus postage cost (where applicable)

g) Other foreign currency checks drawn on country of currency3 e.g. $ checks drawn in USA

No charge but subject to a hold period prior to establishment of deposit
Withdrawals via:
a) Foreign currency notes2
Involving foreign exchange Based on Citibank's prevailing exchange rate
Not involving foreign exchange2 1% commission in-lieu-of exchange (minimum $10)
b) Telegraphic transfers
Involving foreign exchange 1/8% commission (minimum $20) plus postage or cable cost (where applicable)
Not involving foreign exchange 1/8% commission (minimum $20) plus 1/8% in-lieu-of exchange (minimum $10) and postage or cable cost (where applicable)
c) Travellers Checks (TCs)
Involving foreign exchange 1% commission (minimum $20)
Not involving foreign exchange 1% commission (minimum $20), plus 1/8% in-lieu-of exchange (minimum $10)
e) Cashier's Order in Singapore Dollars
Same party as account holder No charge but postage cost (where applicable). Commission waived for first transaction only.
Third party $10 per check plus postage (where applicable)
f) Cashier's Order in US Dollars
Same party as account holder No charge but postage cost (where applicable). Commission waived for first transaction only.
Third party 1/8% commission (minimum $20) and postage cost (where applicable)
g) SHIFT Local Electronic Funds Transfer (in S$) $20 per transaction
CashPlus Withdrawals (Foreign Currency Overnight Deposits)
a) Telegraphic Transfers or Travellers Checks
Involving foreign exchange 1/8% commission (minimum $20) plus postage or cable cost (where applicable)
Not involving foreign exchange 1/8% commission (minimum $20) plus 1/8% in-lieu-of exchange (minimum $10) and postage or cable cost (where applicable)

Our Singapore Dollar Time Deposit offers tenures of 1, 3, 6, 9, 12, 18 months and longer. Interest rates paid vary according to the tenure and amount deposited. Renewal or changing of tenures can simply be done through our 24-Hour CitiPhone Banking. You can also save time and effort with our automatic rollover feature, which ensures that your money is reinvested everytime it matures. This means maximum returns.

Minimum initial deposit $50,000 or equivalent

Deposits via:
a) Foreign currency notes Based on Citibank's prevailing exchange rate
b) Telegraphic transfers
$ or S$ No charge and immediate value given
Other currencies No charge and subject to spot value
Third party and other charges which may be applicable to inward remittances, will be passed along at net without mark-up or commission. To ensure that the inward remittance amount received at Citibank is exactly your intended deposit amount, please inform your remitting bank to "Pay the Beneficiary in full".
c) Travellers Checks (TCs)
Other banks' TCs including Citibank private label involving foreign exchange $20 per transaction and subject to a hold period prior to establishment of deposit
d) S$ checks drawn on banksin Singapore

No charge and immediate

value given

e) $ checks drawn on banks in Singapore Converted at drawee bank's buying rate and immediate value given
f) Checks drawn on banks outside their domicile country3 Checks will be sent for collection prior to establishment of deposit. Collection charges will apply.
Involving foreign exchange Collection charges: 1/8% commission (minimum $100) plus postage cost (where applicable)
Not involving foreign exchange Collection charges: 3/8% commission (minimum $200) plus postage cost (where applicable)
g) Other foreign currency checks drawn on country of currency3 e.g. $ checks drawn in USA No charge but subject to a hold period prior to establishment of deposit
Withdrawals via:
a) Foreign currency notes2 Based on Citibank's prevailing exchange rate
b) Telegraphic transfers
Same party as account holder No charge but postage or cable cost (where applicable)
Third party 1/8% commission (minimum $20) plus postage or cable cost (where applicable)
c) Travellers Checks (TCs) 1% commission (minimum $20)
d) Cashier's Order in Singapore Dollars
Same party as account holder No charge but postage cost (where applicable). Commission waived for first transaction only.
Third party $10 per check plus postage (where applicable)
e) Cashier's Order in US Dollars
Same party as account holder No charge but postage cost (where applicable). Commission waived for first transaction only.
Third party 1/8% commission (minimum $20) and postage cost (where applicable)
f) SHIFT Local Electronic Funds Transfer (in S$) $20 per transaction
Other Products

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Please note that the minimum account balance requirement for a Citibank account is at US$200,000 and there is a monthly service fee of US$50 if the total relationship balance (TRB)[1] is less than or falls below US$200,000.

[1] ‘Total Relationship Balance’ (TRB) is calculated at customer level.
It is the sum of:
(i) the average daily balance of your checking, savings and deposit accounts,
(ii) the average daily value of your investments, and
(iii) all outstanding amount(s) payable on your secured loan accounts as of the date of your last statement

The following rates are applicable to both buy and sell transactions for clients, unless otherwise specified.

Citibank Brokerage U.S. Market
Securities Trading in USD Internet / Mobile Rates Phone Rates
Client Segment CPC Citigold Citibanking CPC Citigold Citibanking
Min Commission
(Per Contract)
 USD 18  USD 18 USD 25  USD 49  USD 49 USD 49
Commission
Rate
(Per Contract)
0.12% 0.15% 0.30% 0.50% 0.50% 0.50%
Custodian Fees 0% 0.015%
( No cap)
0.0165%
(No cap)
0% 0.015%
( No cap)
0.0165%
(No cap)
Transfer Fee In/Out USD 0
SEC Fees for Sell Trades 0.00229% of trade amount

Custodian Fees are payable every 6 months on your monthly average stockholding. Inclusive of GST where applicable.

Prevailing Goods & Services Tax (GST) of 8%^ applies to the brokerage rates.

^With effect from January 1 2023, the prevailing Goods & Services Tax (GST) will be increased from 7% to 8%.

* A fee of USD75 will be charged for transfer in of securities held under the Direct Registration System (DRS).

Citibank Brokerage Hong Kong Market
Securities Trading in HKD Internet / Mobile Rates Phone Rates
Client Segment CPC Citigold Citibanking CPC Citigold Citibanking
Min Commission
(Per Contract)
 HKD 80 HKD 80 HKD 120   HKD 180  HKD 180 HKD 180 
Commission
Rate
(Per Contract)
Below
HKD 300,000
0.12% 0.15% 0.30% 0.50% 0.50% 0.50%
HKD 300,000
and above
0.20%
Custodian Fees 0% 0.015%
( No cap)
0.0165%
(No cap)
0% 0.015%
( No cap)
0.0165%
(No cap)
FRC transaction levy (effective January 1 2022) 0.00015% (rounded to the nearest cent)
Transfer Fee In/Out HKD 0
Scrip conversion HKD 380
Stamp duty 0.10%
Transaction levy 0.0027%
Trading levy* 0.00565%

*With effect from January 1 2023, the trading levy imposed by the Stock Exchange of Hong Kong will be increased from 0.005% to 0.00565%.

Custodian Fees are payable every 6 months on your monthly average stockholding. Inclusive of GST where applicable.

Citibank Brokerage Singapore Market
Securities Trading in SGD Internet / Mobile Rates Phone Rates
Client Segment CPC Citigold Citibanking CPC Citigold Citibanking
SGD Min Commission (Per Contract )  SGD 21 SGD 21 SGD 28  SGD 50  SGD 50 SGD 50
Commission Rate
(Per Contract)
Below SGD 50,000 0.12% 0.15% 0.25% 0.50% 0.50% 0.50%
SGD 50,000-
SGD100,000
0.20%
SGD 100,000
and above
0.18% 0.40% 0.40% 0.40%
Custodian Fees 0% 0.015%
( No cap)
0.0165%
(No cap)
0% 0.015%
( No cap)
0.0165%
(No cap)

Custodian Fees are payable every 6 months on your monthly average stockholding. Inclusive of GST where applicable.

Citibank Brokerage Singapore Market
Securities Trading in HKD Internet / Mobile Rates Phone Rates
Client Segment CPC Citigold Citibanking CPC Citigold Citibanking
HKD Min Commission (Per Contract )  HKD 80 HKD 80 HKD 200   HKD 280  HKD 280 HKD 280 
Commission Rate
(Per Contract)
Below HKD 250,000 0.12% 0.15% 0.25% 0.50% 0.50% 0.50%
HKD 250,000-
HKD 500,000
0.20%
HKD 500,000
and above
0.18% 0.40% 0.40% 0.40%
Custodian Fees 0% 0.015%
( No cap)
0.0165%
(No cap)
0% 0.015%
( No cap)
0.0165%
(No cap)

Custodian Fees are payable every 6 months on your monthly average stockholding. Inclusive of GST where applicable.

Citibank Brokerage Singapore Market
Securities Trading in USD Internet / Mobile Rates Phone Rates
Client Segment CPC Citigold Citibanking CPC Citigold Citibanking
USD Min Commission
(Per Contract)
 USD 18 USD 18 USD 28  USD 38  USD 38 USD 38
Commission Rate
(Per Contract)
Below USD 30,000 0.12% 0.15% 0.25% 0.50% 0.50% 0.50%
USD 30,000 to
USD 60,000
0.20%
Above USD 60,000  0.18% 0.40% 0.40% 0.40%
Custodian Fees 0% 0.015%
( No cap)
0.0165%
(No cap)
0% 0.015%
( No cap)
0.0165%
(No cap)

Custodian Fees are payable every 6 months on your monthly average stockholding. Inclusive of GST where applicable.

Travellers checks are available in U.S. Dollar and the Euro.

Travellers Checks (TCs)
Encashment:
a) Involving foreign exchange
Other banks' TCs including those with Citibank private label $20 per transaction
b) Not involving foreign exchange
Other banks' TCs including those with Citibank private label 1% commission (minimum $10)in-lieu-of exchange, plus $20 per transaction
Collection Inward / Outward Bill
Clean:
Commission 1/8% on check amount (minimum $50)
Commission in-lieu-of exchange 1/4% on check amount (minimum $50)
Documentary:
Commission 1/8% on bill amount (minimum $150)
Commission in-lieu-of exchange 1/4% on bill amount (minimum $100)
Export Bill For Negotiation:
Commission 1/8% on bill amount (minimum $100)
Commission in-lieu-of exchange 1/4% on bill amount (minimum $100)
Online Remittances
Citigold / Citigold Private Client Involving foreign exchange Waived
Not involving foreign exchange
Citibanking Involving foreign exchange
Not involving foreign exchange
Offline Remittances
Telegraphic Transfers for Standing Instructions
From Time Deposits $10 commission plus 1/8% (minimum $20) plus postage or cable cost. $10 commission is waived if total charges exceed $30
From Transaction Accounts
Involving foreign exchange 1/8% (minimum $20) plus postage or cable cost
Not involving foreign exchange 1/8% (minimum $20) plus 1/8% in-lieu-of exchange (minimum $10) plus postage or cable cost
Inward Remittances:
Handling fee
For account holders Free
For non-account holders 1/8% commission (minimum $50)
For withdrawals in foreign currency notes not involving foreign exchange, an additional 1% commission (minimum $10) will apply.
Common Charges:
Cable cost $30 ( Citigold Private Client customer enjoys 2 monthly wavier)
Postage (Documents) $2.20 for local registered mail, $10 for overseas registered mail
Courier costs At UPS cost
Stop Payment $20 per transaction for S$ checks, plus cable cost (where applicable) $20 per transaction for $ checks, plus cable cost (where applicable)
Tracers for investigation $30
Third party and other charges which may be applicable to inward or outward remittances will be passed along at net, without markup or commission. For inward remittances, to ensure that the inward remittance amount received at Citibank is exactly your intended deposit amount, please inform your remitting bank to "Pay the Beneficiary in full".
Commercial Letters of Credit (LCs)
Import Letters of Credit:
LC opening 1/8% commission per month (minimum 1/4% or S$1004)
Transferable LC opening 1/8% commission per month (minimum 1/4% or S$1504)
Commission in-lieu-of exchange 1/4% on bill amount (minimum $100)
Amendments
Increase in amount 1/8% commission per month (minimum S$1005)
Extension of expiry date 1/8% commission (minimum S$505)
Other charges $100 flat plus telex cost5
Cable charges $150 per page for full text transmission of LC, $75 flat for brief cable
Shipping Guarantee 1/8% commission per month (minimum $50)
Export Letters of Credit
Advising commission $60 per item (for account holders)
Confirming commission 1/2% of the amount of credit per month (minimum $100)
Negotiation 1/8% commission on LC value (minimum $100)
Commission in-lieu-of exchange 1/4% commission on bill amount (minimum $100)
Standing Instructions
GIRO
Outward remittance Free
Returned GIRO $10 per transaction
Cashier's Orders
$10 per transaction plus cost of Cashier's Order and postage (where applicable)
Rejected Standing Instructions
$30 per transaction
Other Services
Transfers To Other Banks
UF/MF Transfer $250 per fund per transfer
Bond Transfer $250 per bond per transfer
Service Fee - Fixed Income Securities
0.08% to 0.50% p.a. is chargeable on holding period, depending on bond type
Holding Of Shares For Safekeeping/Collateral
Upon receipt $60 per annum per counter
Upon withdrawal 1/8% of current market value of shares (minimum $25, maximum $2,500)
Microfilmed Copies Of Statements and Checks
Current & previous month Free
Beyond 2 months $15 per statement/copy
Statement On Interest Earned & Interest Paid
Preceding year $15 per statement
Beyond 1 year $30 per statement
Audit Confirmation Request $50
Closure of Account/Relationship
Charge on accounts closed within 6 months of opening $300

Disclaimers

Footnote

  1. Minimum $100,000 equivalent
  2. Subject to availability. Large withdrawals may be subject to arrangement costs.
  3. Acceptance of these checks/currencies is at the sole discretion of the bank.
  4. Applicable to customers with arranged credit facilities. Otherwise the minimum opening commission for LC and Transferable LC is $250 and $500 respectively.
  5. For transferable LCs, minimum charge is $250.
  6. Subject to Goods & Services Tax.
  7. Preferential Pricing.

Important Notes:

All charges are in Singapore Dollars unless otherwise stated.

Check clearing periods stated exclude holidays in respective country of that currency.

All interest rates for time deposits & transaction accounts, fees, charges and terms & conditions are subject to change without notice.

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