The Citibank Dual-Currency Account is suitable for those interested in taking advantage of currency movements or requiring different currencies, with access to competitive interest rates, with potentially higher returns than conventional investments.
You have a view of certain exchange rate movements and would like to take advantage of it.
You are comfortable with accepting exchange rate risk including the loss of principal for the ability to possibly earn an enhanced return.
You are currently holding more than one currency and are looking for opportunities other than bank deposits.
You are holding a currency that is stable or depreciating against another currency.
You are prepared to hold another currency (as selected) at maturity.
You have no urgent need of the funds in a particular currency.
Potential to earn an enhanced rate of return - if you are comfortable with accepting the exchange rate risk, you may receive interest at a rate that is generally higher than the interest rates offered on other short-term investments+.
Benefit from your view on exchange rate movements - you may earn higher interest rates by selecting investment parameters that reflect your expectation of how exchange rates will move during the investment term*.
Flexibility - you can tailor your investment parameters to suit your view, expectation and requirements.
Diversification - you gain exposure to foreign exchange markets and may achieve diversification in your existing investment portfolio.
Value-added service - you will have access to information on market movements and the assistance of a Treasury Portfolio Consultant in managing your Dual Currency Account.
In terms of flexibility, the Dual Currency Account represents a true tailor-made investment. Based on your investment objectives you can choose:
Investment Amount - A minimum of US$25,000 or equivalent in another currency.
Investment Term - 1 week, 2 weeks, 1 month, 2 months, 3 months or 6 months.
Currency pair (base & alternate currency) - Various currencies available AUD, USD, NZD, JPY, SGD, EUR, GBP, CHF, HKD and CAD.
Level of Return - Based on your view of future currency movements you can increase the level of interest the investment will earn by setting your Strike Rate closer to the current exchange rate and also increases the chances of your principal being repaid in your alternate currency.
Factors 2, 3 and 4 determine the level of interest that you can earn from this investment.
Contact your Relationship Manager or Personal Banker to apply for your first Dual Currency Account investment. Please note, as set out in the PDS before making your first investment in a Dual Currency Account you need to complete the Account Opening Form attached to the PDS. Please note that section 10 of the Account Opening Form will from 30 June 2010 operate as amended on page 8 of the SPDS, and not as printed in the PDS.
