NEWSROOM

Keep up to date with
Citi in the news.

Keep up to date with Citi in the news.

Media Release - 19 March 2012

It's official! Citibank Plus Account is Australia's best transaction account Fee-free transactions and instant rewards

Sydney, 19 March 2012: The Citibank Plus account has been independently selected as Australia's best transaction account, taking out two major awards; Money magazine's Best Innovative Product (Banking) Award and the CANSTAR 2012 Innovation Excellence Award.

The Citibank Plus account was re-launched to the market in October 2011, becoming Australia's first absolutely fee-free transaction account with no monthly account keeping fees, hidden service fees or requirements for a minimum monthly deposit.

The Citibank Plus account also provides customers with automatic inclusion to the Citibank Dining Program, that gives customers a free bottle of award-winning wine every time they dine and pay with their Citibank Plus Visa debit card at any of the 300 participating restaurants nationwide.

David Mouillé, Head of Retail Banking, Citibank said winning both awards is a testimony to Citibank's goal of providing the best transaction account in the market.

"In a cluttered market, where all the transaction accounts look very much the same, the Citibank Plus account has become the stand-out product for Australian consumers, offering fee-free banking both here and overseas," Mr. Mouille said.

"The independent recognition by both Money magazine and CANSTAR are a true testimony to the product's value and benefits for customers."

The Citibank Plus account is fee-free both in Australia and abroad, with unlimited free withdrawals at more than 3,000 ATMs locally through a partnership with the Westpac, St George network. Internationally, customers can use their Visa Debit card fee-free for in store purchases or for cash withdrawals at Citibank ATMs.

Citibank launched the original Citibank Plus account in 2006, which was the first in-market with a low account-keeping fee and fee-free ATM access. The account won several industry awards including the Best Personal Transaction Account category at the AFR Smart Investor Blue Ribbon Awards for Banking and Insurance.

Since then, the product has been enhanced to provide even better benefits with no account keeping fees and global benefits such as free-free, global transfers anywhere in the world (with instant transfers available to more than 27 different countries) and fee-free Citibank ATM withdrawals and point-of-sale purchases whilst overseas.

According to David Mouillé, Australian consumers should take the time to compare all the transaction accounts available in the market.

"It's never been easier to switch banks to secure the best deal. I'd urge all Australians to compare their transaction account with ours to see how it stacks up," Mr. Mouille said.

Features of Citibank Plus include:

  • Membership to the Citibank Dining Program - a benefit that gives customers a free bottle of wine at more than 300 participating restaurants when they pay with their Citibank card. Some notable participating restaurants include 'The Sydney Morning Herald Good Food Guide's restaurant of the year - Sepia, Est, Bilson's and Quay in Sydney and Ezard, Pearl and Gordon Ramsay's Maze in Melbourne.
  • Unconditional fee-free account (no requirement for a minimum monthly deposit)
  • Fee-free transactions at Citibank branded ATMs as well as any Westpac, St George, Bank of Melbourne or Bank of SA ATM across Australia
  • Citibank will not charge a fee for overseas Citibank ATM transactions and fee-free point-of-sale transactions internationally
  • Citibank Global Transfers - fee-free, global transfers anywhere in the world (with instant transfers available to more than 27 different countries)
  • Global View of Accounts - the ability to view Citibank accounts online for 13 different countries across the globe
  • The ability to link up to three accounts, including the Citibank Online Saver, which currently offers an introductory interest rate of 5.80%p.a.

Media Contact:

Judy Hitchen Tel: +61 2 8225 1643 Email: judy.hitchen@citi.com

Citi:

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

In Australia, Citi serves over 1 million customer accounts and 900 corporate accounts. It has the most comprehensive offering and largest global reach of any bank with operations in Australia.

Additional information may be found at citigroup.com,citi.com.au or citibank.com.au; on Twitter@citi or @citibankaus, on Facebook at /citi or /citibankaustralia, on linkedin.com/company/citi, on youtube.com/citi and at our blog http://new.citi.com.