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- Citibank Ultimate Business Saver
Earn high interest for your business, trust or Self Managed Super Fund and enjoy the convenience of access to your funds via ATM, phone and online banking.
- Earn 3.00%p.a. standard variable rate for the portion of your balance between $10,000 to $1 million. For any part of your balance which exceeds $1 million you'll earn a 1.75%p.a. standard variable rate.
- Designed for business, trusts or Self Managed Super Funds.
- $0 monthly fee.
- Fee free ATM withdrawals at over 3,000 Citibank, Westpac, St George, Bank of Melbourne and Bank SA ATMs around Australia.
- Minimum ongoing balance $10,000.
- Access to your money anytime, anywhere at ATMs, EFTPOS or through phone and online banking4.
- Visa Debit and cheque facilities1.
Flexibility
| Transaction frequency | High |
| Minimum opening balance | $0 |
| Minimum ongoing balance | $10,000 |
| Funds at call | |
| Monthly statement |
Stepped Interest
Interest on the Ultimate Business Saver is stepped which means that different rates of interest apply to different portions of your account balance. The portion of your balance between $10,000 and $1million will attract the highest rate of interest.
| Interest earned | View rates |
| Interest paid | Monthly |
| Calculated daily |
Access
| ATM/EFTPOS1 | |
| Cheque book access2 | |
| Australia Post Bank@Post Outlets | |
| Overseas ATM1 | |
| Internet banking1 | |
| Phone banking1 | |
| Written instructions |
* All points of access may not be available if method of operation requires more than one to sign.
Apply now
Apply for an Ultimate Business Saver account and start saving today.
- Visit a branch
- Print out application form
- Call 13 24 8413 24 84, 24 hours a day, seven days a week
What you will need:
You will need the following information to apply for a Ultimate Business Saver account:
| Proof of age: | You must be over 18 years of age or older. |
| Personal identification: | All account holders must be able to be identified in Australia at or before account opening. This includes providing two forms of identification, one of which must be photo identification, along with your application at one of our branches or at an Australia Post outlet. |
| Personal details: | Residential address, contact details (for all account holders if applying for a joint account) and current e-mail address of all account holders. |
| Business, Trust or Self Managed Super documentation: | We will need to conduct an identification check before your account can be opened. To understand what documentation is required and to arrange an appointment, contact CitiPhone on 13 24 8413 24 84, or visit your local branch. |
| Tax File Number (TFN) Or valid exemption: | Or valid exemption - you do not have to provide your TFN, but without it we will be required to deduct tax at the top marginal rate. |
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Opening Ultimate Business Saver
To open an Ultimate Business Saver simply visit your closest branch or call 1300 559 424. Our staff will help you complete the application form and organise for the account to be opened. Before you arrive, please read below to ensure you bring the necessary paperwork with you.
What you need to apply
- Australian Business Number (ABN)
- Personal details of all account signatories. All signatories will need to be identified. For examples of identification that can be used visit our How to Apply page
- Tax File Number (TFN). (This is optional, however, depending on the account type if it is not supplied Citibank is required to withhold tax at the with top marginal rate)
- Originals of relevant documentation to verify your entity, such as:
- Certificate of Incorporation (or Commemorative Record of Registration) for a body corporate
- Certificate of Registration for a business
- Signed Partnership Agreement
- Trust Instrument.
No, this account is only available for business customers. For personal accounts a great rate is available through the Citibank Ultimate Saver.
Yes. However, it is important to note that if two or more signatories are required to operate the account, then you will not be provided with a Debit Card or Internet Banking access.
You will receive your account number in writing once your account is open.
From the time we receive your application and identification documents, it can take up to 3 business days to activate your account(s) and up to 7 business days for you to receive your Citi Debit Card, Citi ATM Card, ATM PIN and deposit book (if you have requested one).
Yes. However, only if your account is listed as 'anyone to sign'. If your account is listed as 'more than one to sign' then we cannot issue you a Citi Debit Card. Without a Citi Debit Card you cannot access ATMs and Online Banking.
You can provide a cheque with your account application to ensure that your account is funded and earning a great rate of interest from the time of opening.
Otherwise, you can fund your account by:
- Direct Credit from another account
- Cash or cheque at any National Australia Bank branch
- Mail a cheque and deposit slip to:
Banking Services
Citigroup Pty Limited
GPO Box 40
Sydney NSW 2001
You will be advised in writing once your account is open and ready for use.
You will receive monthly account statements by mail.
For any enquiries please contact CitiPhone Banking on 13 24 84 or (+61 2 8225 0615) if you are calling from overseas) 24 hours a day, seven days a week. Or alternatively speak to your Relationship Manager.
Deposits and withdrawals
You can access your account at anytime using ATMs, EFTPOS, Citibank Online Banking or CitiPhone Banking - all are available 24 hours a day, seven days a week.
You can provide a cheque with your account application to ensure that your account is funded and earning a great rate of interest from the time of opening.
Alternatively you can make deposits into your Citibank accounts in any of the following ways:
- Online and Phone Banking
- Direct Credit from another account
- Cash or cheque at any National Australia Bank branch
- Mail a cheque and deposit slip to:
Banking Services
Citigroup Pty Limited
GPO Box 40
Sydney NSW 2001
You can withdraw money from your Citibank accounts in any of the following ways:
- Via any ATM in Australia
- EFTPOS
- Direct Debit
- Online and Phone Banking
- BPAY®
- Visa Debit
- Written Instructions
Yes. To set up a regular credit from another bank, you will need to contact your bank directly to set up a standing order. You will need to advise them of your Ultimate Business Saver Account number and the Citibank BSB which is 242-200.
Yes, you can set up your standing orders via Citibank Online Banking. Sign on to Citibank Online and refer to the 'Transfers and Payments' section.
Yes, BPAY® can be used with this account. To find out how to pay bills by BPAY® either sign on to Citibank Online and refer to the 'Transfers and Payments' section, or call CitiPhone Banking on 13 24 84, and follow the voice prompts.
No, a cheque book will not be provided with the exception of accounts that require more than one signatory.
Your new Ultimate Business Saver account will be automatically linked to your Citi Debit Card.
Please contact CitiPhone Banking as your Ultimate Business Saver account will not automatically be linked.
To close your Ultimate Business Saver please complete a letter in writing stating your intention to close the account. You can send this instruction to:
Banking Services Citigroup Pty Limited
GPO Box 40
Sydney NSW 2001
Interest, Fees and Charges
Please click here to view the latest rates on this account.
Interest is calculated daily on a stepped basis. This means that different rates of interest apply to different portions of your account balance.
For example if the interest rate is 4.00% p.a. on the portion of your balance from $10,000 - $1,000,000 and your account balance is $550,000, then the interest rates are earned as follows:
The first $10,000 earns 0% p.a.
The next $540,000 earns 4.00% p.a.
Interest is paid monthly on the last business day of the month.
There is no monthly fee for this account.
You will need to maintain an ongoing monthly balance of $10,000 in the account.
In case you do not meet the ongoing monthly balance requirement, Citibank reserves the right to close the account and refund the balance in the account to you.
There are no restrictions on the maximum amount that can be placed in this account.
Fees and charges are as per the Schedule of Fees and Charges.
Interest income earned on the account will be sourced in Australia. If you are a resident of Australia in the income year in which the interest is paid or credited, your interest will be included in assessable income for Australian tax purposes.
You are not required to quote your TFN/ABN or an appropriate exemption. However, if you do not, and you are a resident of Australia, Citibank is required to deduct tax at the top marginal rate.
Internet and Phone Banking
Once you have registered on Citibank Online using your Citi Debit Card number, ATM PIN and account number all you will need to sign on is your username and password.
Simply call CitiPhone Banking on 13 24 84, available 24 hours a day, seven days a week and enter your Citi Debit Card number and your Telephone Personal Identification Number (TPIN) if you have one. Then follow the simple instructions to obtain account balances and recent transactions, transfer funds, plus much more.
Switching Bank Accounts
Citibank has a free and easy service to transfer your regular payments to your new Citibank account. Switch now.
Simply complete the Salary Credit form and return to your employer.
Terms & Conditions apply and are available on request
- ATM, Internet and Phone Banking are not available on accounts that require more than one signatory to operate.
- Only available where more than one signature is required to operate the account.
- Non-Citibank and non-Partner* ATM owners may charge you a fee for use of their ATMs. *Partner ATMs include Westpac branded, St. George, Bank of Melbourne and Bank SA ATMs within Australia.
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.
Ultimate Business Saver is issued by Citigroup Pty Limited ABN 88 004 325 080 AFSL 238098 (Citibank). 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 is appropriate for your particular circumstances.
Further information and our dispute resolution process is available at www.citibank.com.au or by phone on 1300 137 931.
© 2013 Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098. Citibank®, Citi® and Arc Design® are service marks of Citigroup Inc.