FOREIGN CURRENCY BANK ACCOUNTS

Foreign Currency Bank Accounts.

Foreign Currency Bank Accounts.
Multi Currency Account

Multi Currency Account

Citibank's foreign currency accounts are designed to help you manage your foreign currency needs, giving you the ability to hold and transact in multiple currencies. We also offer foreign currency term deposits.

Benefits for individuals
  • Work with our team of foreign currency specialists to keep up to date on currency markets, global research, trends and forecasting to help you get the most out of your investment.
  • Flexibility to move between currencies to take advantage of favourable exchange rate movements.
  • Hold and transact up to 11 currencies including USD, Euro, GBP, and NZD.
  • No up-front or monthly account keeping fees.
  • Minimum investment AUD$10,000 or equivalent in another currency.

Citibank's Multi-Currency Account. Easy access for expats on the move.

James is an engineer who recently resettled in Australia from the UK. He held personal savings in British Pound Sterling (GBP) and wanted to earn interest and retain this currency until the exchange rate was more favourable. He was also waiting on the sale proceeds of his UK property.

Citibank's Multi-Currency Account proved the ideal vehicle for James, providing a place to park his GBP funds, until the preferred exchange rate was available to exchange into AUD. He was able to manage the transfer locally with the support of Citibank's foreign currency specialists. James decided to combine his Multi Currency Account with a Citibank Plus account enabling him to view his Australian and GBP accounts in one convenient place.

This example is for illustrative purposes only and is not intended to bear resemblance to any existing individual or circumstance. Any similarity to an existing person is purely coincidental.

Benefits for business
  • Access to our local team of foreign currency specialists offering market advice and insights to keep up to date on currency markets, global research, trends and forecasting.
  • Flexibility and convenience to hold up to 11 currencies.
  • Manage your business foreign currency requirements locally from Australia.
  • Competitive rates with interest calculated daily.
  • No up-front or monthly account keeping fees.
  • Minimum investment AUD$10,000 or equivalent in another currency.

Citibank Multi-Currency Account helps business owners manage foreign currency conversion.

Tony is a small business owner, who regularly imports stock from Hong Kong. He needed a flexible account in order to make regular payments in USD. He sought local expert advice from Citibank's foreign currency specialists on how he could more effectively manage the conversion of his currency and they were able to help him set up a Multi-Currency Account so he could manage his foreign currency needs in Australia and also recommended a Currency Exchange Order Watch Contract for the foreign currency conversion. This advice enabled Tony to convert his currency at a preferred conversion rate and hold it in USD until he needed to transfer the funds to Hong Kong. Ultimately, Tony was able to save valuable time because he did not have to continually monitor the market waiting for his preferred conversion.

This example is for illustrative purposes only and is not intended to bear resemblance to any existing individual or circumstance. Any similarity to an existing person is purely coincidental.

Features and access

Citibank offers two foreign currency bank accounts as part of our Multi Currency Account range:

Overnight Multi-Currency Account

Allows you access to your money with one business day's notice.

US Dollar At Call Account

A US Dollar denominated at call investment, allowing you to access your money on the same business day1.

Currencies AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD* USD
Transaction Frequency Moderate High
Minimum Investment AUD $10,000 or equivalent AUD $10,000 or equivalent
Interest Accrued daily, paid on the first business day of each month Accrued daily, paid on the first business day of each month
Fund availability Overnight At Call
Monthly Statement Yes Yes

* Availability of the currencies and terms is subject to change without notice. For more information on features and access, view the Product Disclosure Statement

Important information:

Multi Currency Accounts are issued by Citigroup Pty Limited ABN 88 004 325 080, AFSL No 238098, Australian credit licence 238098. Terms, conditions, fees and charges apply and are contained in the Product Disclosure Statement

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. Investors investing in funds denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Investments are not deposits or other obligations of, guaranteed, or insured by Citibank N.A., Citigroup Inc., or any of their affiliates or subsidiaries, or by any local government or insurance agency, and are subject to investment risk, including the possible loss of the principal amount invested.