Dual Currency Account
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.
Terms and conditions apply and are available on request.
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. Before you decide to acquire a product, you should obtain the relevant Product Disclosure Statement, and consider its suitability for your objectives, financial situation, or needs.
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.
+ The performance of the Dual Currency Account is linked to the performance of the currency market. The return is dependent on the rate of interest as well as the applicable exchange rate.
* An investment in the Dual Currency Account is subject to the following risks:the risk that your return may be lower than if you traded directly in the currencies selected; the risk that your investment may be repaid at maturity in an alternative currency to your currency or deposit; the risk that your return may be lower than the applicable interest rate and the risk that you may experience a loss of principal if you convert the alternate currency back to the currency of deposit.
Terms and conditions apply and are contained in the Product Disclosure Statement dated 18 December 2006 and Supplemental Product Disclosure Statement dated 3 March 2013 available from a Citibank Branch and this website. Any advice provided is general advice only and does not take into account your personal circumstances. We recommend you seek advice on your personal circumstances from a professional adviser before acting on the information contained on this website. Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098. The Dual Currency Account is not available to US persons and may not be available in all jurisdictions.