Choose from a single or multiple foreign currencies of your choice to deposit in and earn higher interest when you save more in your Foreign Currency Account. Deposit single or multiple foreign currencies into your Foreign Currency Account and earn a higher interest rate as you save more. Manage and transact in multiple currencies easily, giving you complete flexibility and control over your global finances. Daily transactions are seamless, with the ability to handle them through various channels like Internet Banking, ATM, AVR, and CitiPhone Banking.
Why deposit in a Citibank Foreign Currency Account
- Choice of currencies: AED, AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK and ZAR
- Access to multiple foreign currency types
- Carry out transactions on different currency types from a single platform
- Convenient way to manage day-to-day transactional needs through Internet Banking, ATM, AVR and CitiPhone Banking.
- Free Citibank ATM / Debit card
Non-Interest bearing for non-individual Foreign Currency Account
For your convenience, you can:
- Deposit cash in AUD, HKD and JPY at our branches
- Remit funds via telegraphic transfer or Citibank Global Transfer (CGT)
- 24-Hour Online Banking
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What are the advantages of a Foreign Currency Account?
A Foreign Currency Account makes managing finances in multiple currencies easier. Customers can choose from a wide range of currency options, including AED, AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK, and ZAR. You can enjoy a simplified banking experience through a single platform that allows transactions on multiple currencies. Furthermore, you will have the convenience to manage your daily transactional needs via Internet Banking, ATM, AVR, and CitiPhone Banking. You will also be entitled to a free Citibank ATM/Debit card empowering you with enhanced accessibility and flexibility to handle your foreign currency transactions.
How does a Foreign Currency Account Work?
The way a foreign currency account operates is a relatively straightforward procedure. For new customers, the first step is to complete a form, after which the bank will contact them. In case of any additional inquiries, there is an option to submit a note through the provided link. Existing Citibank IPB customers can quickly initiate the process by contacting their Relationship Manager or the 24-hour CitiPhone Banking service. Alternatively, they can dial +65 6224 5757 to get assistance. Existing customers can also choose to submit a note via the provided link if there are any further questions or concerns. The bank ensures a seamless experience for new and existing customers interested in opening a Foreign Currency Account.
What is a Foreign Currency Account?
Foreign currency account signifies those banking accounts that maintain and denominates funds in a currency different from the bank's local currency or the account's location. These accounts are typically advantageous for people involved in frequent international transactions, allowing them to send and receive payments and execute transactions seamlessly in foreign currencies.
Foreign Currency Time Deposits
Foreign currency investments are subject to rate fluctuations, which may provide both opportunities and risks. You may experience a loss when you convert foreign currency back to your home currency. Exchange controls may be applicable from time to time to certain foreign currencies. You should therefore determine whether any foreign currency investment is suitable for you in the light of your investment objectives, your financial means and your risk profile. Foreign currency investments are not insured by the Federal Deposit Insurance Corporation.
Deposit Insurance Scheme - Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Citibank full disclaimers, terms and conditions apply to individual products and banking services.