Home Banking Credit Cards Lending Mortgages Insurance Current Promotions Citibank Plus Citibank Online Saver Term Deposits Switch to Citibank   Tick off your wish list sooner by earning 5.80%p.a.1 on every dollar you save. Best of all there's no minimum balance and no account fees2. Simply link your Citibank Online Saver to any other Australian bank account and transfer money in and out as you need.   A great variable introductory rate of 5.80% p.a.1 for the first 6 months from your account opening on balances less than $2,000,000 ($500,000 from 8 February 2012). At the end of the 6 months you'll receive our standard variable rate, currently 4.75%p.a.1. No account fees2 and no minimum balance No fixed terms or hidden catches Access your money 24 hours a day, 7 days a week through phone and internet banking Balances of up to $250,000 held with Citibank will be covered by the Financial Claims Scheme3. Deposits Unlimited (from any Australian source)* Withdrawals Unlimited (to your nominated linked account) Minimum Opening Balance $0 Minimum Ongoing Balance $0 Monthly Statement Yes (e-statement only) Interest Introductory Rate (for the first 6 months) 5.80% p.a.1 Standard Variable Ongoing Rate 4.75% p.a.1 Interest Calculated Daily Interest Paid Monthly Access Internet Banking Phone Banking NAB Branches* ATM X Deposit Book X Cheque Book X * NAB accepts cheque deposits only. Cheques must be in the name of the account holder. Cash deposits are not available on this account. No account fees2 Unlimited free deposits Unlimited free withdrawals to your Nominated Linked account For other general bank fees please see our Schedule of Fees and Charges Apply Online If you have any queries you can call us on 13 24 84, available 24 hours a day, 7 days a week. How do I open a Citibank Online Saver? You can apply online for your Citibank Online Saver. If you need any help with your application please call us on 13 24 84, 24 hours a day 7 days a week. This account is available to personal customers only. If you want to open a Business account, a great rate is available through the Ultimate Business Saver. Who can apply for this account?   You must be an Australian resident for taxation purposes   You must be 18 years of age or older What are the benefits of the account? No account fees2 and no minimum balance No fixed terms or hidden catches Access your money 24 hours a day, 7 days a week through phone and internet banking Savings up to $1 million will be covered by the Australian Government Guarantee3 How does the account work? How will I know when my account is ready to use? You can start making deposits as soon as your account in open. All you need is your Citibank Online Saver account number and BSB. Your account will be ready to use once you activate your account by depositing funds from your nominated linked account to your Citibank Online Saver. If your nominated linked account is a Citibank account it will be automatically activated. All you need to do is call Citiphone to activate your Internet Access Number, then log on to www.citibank.com.au to set up your account. If you are new to Citibank you will need to set up access to our secure internet banking portal, Citbank Online. Once you receive your Internet access number, Internet PIN and Telephone PIN, simply call 13 24 84 to activate your online access. Which accounts can I nominate as my linked account? You can nominate any Australian bank account as your nominated linked account, as long as your bank permits it. Can we set up a joint account? Yes. Just follow the online application process and click on the 'joint account' option. Please note that your nominated linked account must also be in the same names as your joint Citibank Online Saver application. How do I set up my account? Citibank will advise you via email when your account has been opened. You can start making deposits as soon as your account is open. To complete set up of your account you will need to activate your nominated linked account so that you can make withdrawals. If your nominated linked account is a Citibank account it will be automatically activated. To activate simply transfer funds of any amount from your nominated linked account to your Citibank Online Saver. When will I receive my account number? You will receive your account number at the end of the application process. We will also provide you with your account number within 10 business days of your account being opened, in your Welcome Pack, which will be mailed to you. You will also receive a Telephone PIN for telephone banking, an Internet Access Number and Internet PIN for you to start banking online. How can I make a deposit into my account? You can make deposits from: Your nominated linked account Any direct credit (from an Australian source) Cheque (made out to the account holder) Dividend Payments* Any other electronic credit Note that cash deposits are not available into this account. * Dividends paid through cheque will need to be deposited at National Australia Bank. How much can I deposit into my Citibank Online Saver Account(s)? There are no restrictions on the maximum amount that can be placed in this account. For amounts over $2 million please view our current rates schedule. Can I have more than one Citibank Online Saver Account? Yes, you can open as many accounts as you would like, but the introductory rate will only apply to the first Citibank Online Saver account that you open. How do I transfer funds? It's easy, once your account is activated you can transfer money in to your account from any other account held with an Australian bank. You can also arrange to have your salary or dividends credited directly to your Citibank Online Saver. After you have activated your nominated linked account, you can transfer money out to your nominated linked account 24 hours a day 7 days a week at www.citibank.com.au or through Citiphone on 13 24 84. Daily transaction limits for transfers If you transfer funds through Citibank Online Saver there are maximum amounts that can be transferred/withdrawn per account per day. If you have any questions about transfer limits, simply call us on 13 24 84. Making Withdrawals How can I make withdrawals? You can make withdrawals electronically to your nominated linked account. Where can I make withdrawals to? You can make withdrawals only to your nominated linked account. Can I make withdrawals from an ATM? No, this account is designed for online usage, and you will be issued with an Internet access number that you can utilise to set up online access. When can I start making withdrawals? You can start making withdrawals only after you have activated your nominated linked account by making at least one electronic credit from your nominated linked account to your Citibank Online Saver. If your nominated linked account is a Citibank account it will be automatically activated. Please note, for security reasons, funds deposited into your Citibank Online Saver can only be withdrawn to your nominated linked account from 5 business days after activation. If your nominated linked account is a Citibank account, you will be able to withdraw funds from your Online Saver from 5 business days after account opening. Account Information How will I receive account statements? Electronically via Citibank Online. You will be notified by email when your statement is ready for viewing. How frequently will I receive statements? Monthly Managing my Account details How do I change my account details? To change any account details, all you need to do is log on to Citibank Online with your ID and password, and provide us with instructions to change your account details. What if I want to change my nominated linked account details? To change your linked account, all you need to do is log on to www.citibank.com.au with your ID and password, and provide us with instructions regarding your new linked account. We will send you a sms and a letter to confirm your request. Please note that if you change your nominated linked account, you will need to re-activate your Citibank Online Saver by making at least one electronic transfer from your new linked account to your Citibank Online Saver. This only applies if your new linked account is not a Citibank account. For your security, if you change your linked account, you will not be able to make withdrawals to your linked account for 5 days after your re-activation. What if I want to set up a Regular Savings Plan? To set up a Regular Savings Plan, all you need to do is log on to Citibank Online Internet Banking with your ID and password, and provide us with the amount and frequency at which you want us to direct debit your nominated linked account. What is a Direct Debit Request Service Agreement? A Direct Debit Request is an instruction you give Citibank to allow us to take money from your nominated linked bank account to deposit into your Citibank Online Saver account. Not all bank accounts allow funds to be withdrawn and deposited into another institution, so you should check to make sure that the account you wish to nominate as your linked account has this access. How do I provide you with my Tax File Number? To provide us with your Tax File Number, all you need to do is log on to www.citibank.com.au with your ID and password, and provide us with the relevant Tax File Number. How long is the introductory interest rate applicable? The variable introductory interest rate applies for the first 6 months after your account is opened. What will happen at the end of the introductory period? After 6 months, your account will start earning the standard variable interest rate applicable at that time. How will the interest be calculated and paid? Interest is calculated daily and paid monthly into your account on the last business day of the month. Every dollar that you save in this account will earn you interest. How will I know how much interest I have earned, and the interest rate that is applicable to me? Your statement for every month will indicate the interest credited to your account as well as the interest rate that is applicable to you when your statement is issued. You can also check the current Citibank Online Saver rates online Is tax payable on the interest earned on this account? Yes, tax is payable on the interest earned on this account. You are not required to quote your TFN or an appropriate exemption. However, if you do not, and you are a resident of Australia, Citibank is required to withhold tax at the highest marginal tax rate plus the Medicare levy from income earned on your Account. If you do not supply a TFN at the time of application you can do so at any time once your account is open through Citibank Online Internet Banking. If you are a resident of Australia in the financial year in which the interest is paid or credited, your interest will be included in assessable income for Australian tax purposes. If you are a non-resident you will be subject to 10% interest withholding tax. You should seek your own independent financial and taxation advice before making a decision whether to open an account. Fees What fees apply to this account? There are no account fees2 for this account. However, other service fees may apply. Please refer to our Schedule of Fees and Charges Are there any transaction fees? There are no transaction fees or limits on number of transactions to the nominated linked account. Do I pay any transaction fees for transferring between my nominated linked account and my Citibank Online Saver? No, the Citibank Online Saver offers unlimited free transactions to your Nominated Linked account. Is there anything else that I need to know? I already have an existing Citibank account. Can I open this account? Yes you can. All you need to do is select the 'existing customer' option when you apply and follow the steps indicated. What if I want to speak to someone? You can call CitiPhone on 13 24 84 (or +61 2 8225 0615) if you are calling from overseas to speak to a Citibank Customer Service Officer. CitiPhone is available 24 hours a day, seven days a week. Apply Now View the Terms and Conditions (Adobe PDF, 304kb) View the Schedule of Fees and Charges (Adobe PDF, 72kb) 1. The variable introductory rate, currently 5.80% p.a. on balances between $0 to $1,999,999.99 is offered for 6 months from the date of account opening and is applicable on the first Citibank Online Saver that you open. 4.75%p.a. applies to the full balance whenever your balance is $2,000,000 ($500,000 from 8 February 2012) or more. At the end of the 6 month offer period you will automatically receive the standard variable rate, currently 4.75% p.a. Rates are effective 9 December 2011 and are subject to change at any time. 2. While no account fees are payable on your Citibank Online Saver, fees may apply to your nominated linked account. Please check with the financial institution where your nominated linked account is held. For service fees that might apply, please refer to the Schedule of Fees and Charges. 3. Total balances held by a depositor with Citibank, up to an amount of AUD$250,000, automatically access the Financial Claims Scheme.  For more information go to www.apra.gov.au or call 1300 55 88 49. Any advice is general advice only. It was prepared without taking into account your objectives, financial situation, or needs. Before acting on this advice you should consider if it's appropriate for your particular circumstances. Details on our dispute resolution system and full details of the terms and conditions are available by calling 13 24 84 or at citibank.com.au. Citibank Online Saver is issued by Citigroup Pty Limited ABN 88 004 325 080 AFSL 238098 ("Citibank"). You should consider whether or not this product is appropriate for your particular circumstances. ©2012 Citigroup Pty Limited. 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