Sydney 18 September 2009: Citibank will join the list of customer-focussed banks in slashing its fees for customers holding Citibank deposit accounts.
From September 28, Citibank will cut its fees by more than 50 percent for customers whose payments are rejected due to insufficient funds.
This includes customers facing honour fees (when funds are insufficient but the withdrawal or transaction is honoured), and dishonour fees (when funds are insufficient and the payment in not honoured).
Citibank will reduce these fees from $35 to $10 for honour fees, and from $40 to $9 for dishonour fees.
The decision follows a number of customer focussed initiatives including the launch of 'Citibank Support'- an information portal on the Citibank website that provides advice, assistance and guidance for customers who are experiencing financial difficulty.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citi.com.au.
