Citibank launches Citigold Global Banking

June 16th, 2008 - 11:48 pm ICT by ANI  

New Delhi , June 16 (ANI/Business Wire India ): Citibank today announced the launch of Citigold Global Banking, a premium banking and wealth management service exclusive to Citigold clients.

The new Citigold Global Banking program takes financial mobility to a whole new level by enhancing the banking experience for Citigold clients not just in India but also around the world.

This initiative leverages on Citi’s strong worldwide presence to offer cross-border banking products and services to internationally mobile Citigold clients. India is among a select group of countries in the Asia Pacific region where this service has been launched today.

Citigold is Citibank’s wealth management business for its mass affluent client segment that provides a holistic suite of both retail banking and wealth management products and solutions that include investments, insurance, mortgage, business banking, retirement planning, succession planning and wealth transfer.

Today, Citibank serves over 400,000 Citigold clients in Asia Pacific (ex Japan ), underscoring the global financial institution’s leadership in the wealth management space.

As the economy and business environment in India continues to grow, professionals, entrepreneurs and investors in the region have more financial interests today that span multiple countries and currencies.

The trend of Indian talent taking on additional job responsibilities that result in expatriate or overseas assignments also continues to rise. Often, simple and routine transactions such as opening a bank account, remitting money, buying a house, taking a loan in case of emergencies become complicated in foreign lands.

Citi has estimated that, on average, the mass affluent segment in Asia Pacific is growing at about 15 per cent on an annual basis.

Today we live in a global village. As the world gets smaller, the needs of affluent clients get bigger. When people travel from country to country, a big area of concern is the loss of their ‘home’ banking relationship, their credit history, and easy access to their accounts from anywhere in the world. Citi understands that situation, which is why we developed a global ‘passport” through Citigold Global Banking to address our clients’ needs anytime, anywhere, said T. R. Ramachandran, Head, Retail Banking, Citibank N.A., India .

Citigold Global Banking provides an easy transition for clients, enabling them to open bank accounts, get credit cards, enjoy Citigold status worldwide, transfer funds conveniently and gain access to a powerful global network of branches and ATMs with emergency cash withdrawal facilities.

This service is further facilitated through Global Support Centers and a Global Banking Website that allows a snapshot view of all accounts and relationships that the client has with Citi around the world.

Sameer Kaul, Head, Branch Banking, Citibank N. A., India added, Our Citigold clients lead busy lives and they expect transactions, particularly cross-border financial transactions, to be faster, safer and more convenient than ever before. Citigold Global Banking is able to deliver on all these areas. Our clients’ local banking will now seamlessly merge with their global banking requirements. These are the advantages of Citi’s global reach, scale, and expertise.

Citigold Global Banking benefits

– Pre-Arrival account opening - Before the Citigold client reaches a foreign country, Citi will be able to start the account opening process and in most cases even have the accounts opened before the client reaches the foreign shores, depending on the regulatory norms in the foreign country. Using a client’s credit history, Citigold relationship managers can also help them open a credit card account for immediate access to credit upon arrival.

– Global support - Citigold clients have access to logistical and emergency support through an unparalleled network of more than 4,000 Citibank branches in 43 countries. Citi has also established four Global Support Centers in Europe, Asia, North and South America with teams of specially-trained staff members able to offer personalized cross-border account opening assistance to Citigold customers through the entire application process.

– Global recognition - Citigold clients can transfer their Citigold status from country to country, whether relocating or traveling, to enjoy the privileges, recognition and status they are accustomed to.

– Citigold center access - Access will be provided at over 550 Citigold Centers in 36 countries, including lounges and meeting rooms, as well as free use of telephone, fax and the Internet services.

– Emergency cash withdrawal - In the event of emergencies, and subject to proper verification, Indian Citigold customers can obtain the equivalent of up to US$2,000 from their accounts, at the designated Citi branches overseas.
– Toll-free Global Hotline (800-CITI-CODE) - Indian Citigold customers traveling abroad can contact their home Citigold Customer Service hotline via a single toll-free, global number to request assistance with their accounts. (ANI)

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