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Frequently asked questions

Application

How can I apply for the Citi Global Currency Account?
How can I add an other currency?
  • You can add the following currencies to your Citi Global Currency Account:

    • US Dollar
    • Euro
    • British Pound
    • Singapore Dollar
    • Hong Kong Dollar
    • Canadian Dollar
    • New Zealand Dollar
    • Japanese Yen
    • Swiss Franc

    Simply login to your Citi Mobile® App and turn on Citi Smart Wallet. Once this is switched on, you will be able to add currencies to your account instantly.

Can I open an account in my business name or with my partner?
  • Business, trust and joint account options are presently not available, but will be supported in the near future.

Interest, Fees and Charges

Will you pay interest on any of the accounts?
  • For the Australian Dollar account the interest is calculated daily and paid monthly. View interest rates.

    Citi does not currently pay interest on foreign currency accounts.

Is there a minimum or maximum account balance?
  • There is no minimum or maximum account balance on any currency accounts.

Purchases, Deposits and Transactions

Are there any transaction or card limits I need to be aware of?
  • Transfers and purchases are limited to the total available balance in your account. Please be aware that there are daily limits apply.

Do I get a separate Debit Card?
  • If you already have a Debit Card, you will not receive a new card. You can link the new accounts to your existing Debit Card via Citibank Online and Citi Mobile® App.

What product does my Debit Card default to?
  • If you open an account and have an existing Debit Card your card remains linked to the same account it is currently linked to. To link your debit card to a new account, simply login to the Citi Mobile App and select the Profile & Settings icon. Click 'Cards / Accounts', then choose the card you want to update. Select 'Account linkage', enter your Citi Mobile token and then follow the prompts.

    If the Citi Global Currency Account is your first Citi Product, the Debit Card will automatically be linked to the Australian Dollar Currency Account for use.

Can I deposit cheques, traveller's cheques and money orders into this account?
  • Yes, you can deposit cheques, traveller's cheques and money orders into this account.

    You can make deposits into this account at:

    • Australia Post (with Bank@Post facilities, for the Australian currency account)
    • Send it to us –

      Citibank
      GPO 40
      Sydney NSW 2001
      (Ensure your account details are included on the cheque)

Is there anything I should be mindful of when making online purchases?
  • When making an online purchase, some online retailers may not change your Debit Card immediately when you complete the purchase.

  • For example, some retailers will not apply the purchase to your Debit Card until your item is shipped.

  • Check the Citi Mobile® App or Citibank Online to ensure the purchase has been applied to your currency account before you change your Debit Card linkage.

Can I set up a direct debit?
  • You can set up a direct debit to both the Australian dollar currency account and the Debit Card. Please note – if the direct debit is set up to the Debit Card, the amount and currency debited, will be based on the currency account linked to the Debit Card at the time of the transaction.

Citi Smart Wallet

How does Citi Smart Wallet work?
  • Citi Smart Wallet is a currency matching service for Citi Global Currency Account customers. It detects the currency you are spending in and will apply the transaction to a matching currency account, if you have one. There is no need to manually link your debit card to a foreign currency account.

    This can be used for purchases using your debit card, ATM withdrawals overseas, or if you are transacting online in a foreign currency.

What is a default account?
  • The default account is the account which your debit card is linked to. If you make most of your transactions in Australian Dollars (AUD), then you should link your debit card to your AUD account. If you are a new Citi customer then your debit card will be automatically linked to your AUD account.

    For example – you are making a purchase for USD 250 but you only have USD 100 in your USD currency account. The smart wallet will detect that you do have enough money to cover the entire purchase in USD and try to apply the purchase to the default account. In this example, your debit card is linked to your AUD currency account, so if there is enough money to cover the entire purchase, a foreign exchange will take place and the transaction will be applied in AUD.

    If there is not enough money in the default account, the transaction will be declined.

    Citi Smart Wallet will not check any other accounts you hold.

How do refunds work with the Citi Smart Wallet function?
  • In most cases a refund will be processed in the currency of the original transaction. If this is not possible (e.g. your currency account has been closed), the refund will be processed to your default account.

How do I turn Citi Smart Wallet on or off?
  • Simply follow these easy steps:

    a. Download or update the Citi Mobile® App

    b. Register or log in to the Citi Mobile® App

    c. Select the Profile icon

    d. Select 'Cards / Accounts', then select the 'Accounts' tab

    e. Choose the 'Citi Smart Wallet' button and follow the prompts.

    Note: Be sure to select the account you want to be the default account. Your default account is the account that will be linked to your debit card and should be in the currency you mostly use.

    If Citi Smart Wallet is unable to match your transaction to an account held in the same currency, the transaction will be debited from the default account.


    If you would like to change your default account, follow the steps below:

    a. Select the Profile icon

    b. Select 'Cards / Accounts' then choose the card account you want to update

    c. Select 'Account linkage'

    d. Enter your Citi Mobile token and then follow the prompts.

What if I have more than one account of the same foreign currency?
  • If you hold more than one account of the same foreign currency, only one account can be added into your Citi Smart Wallet. You will be asked to nominate which account is to be included when you turn on Citi Smart Wallet.

Important information

1. Citibank Australia does not charge Citi Global Currency account holders a fee when they withdraw funds from an international ATM or use their Debit Card to make in-store purchases overseas. Customers may be charged by the third party provider, which Citibank Australia does not control.

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. You should also obtain and consider the relevant Product Disclosure Statement and terms and conditions before you make a decision about any financial product, and consider if it's suitable for your objectives, financial situation, or needs. Investors are advised to obtain independent legal, financial, and taxation advice prior to investing.

Citi Global Currency Account is issued by Citigroup Pty Limited ABN 88 004 325 080, AFSL 238098, Australian credit licence 238098.

©2021 Citigroup Pty Limited. All rights reserved. Citi, Citibank and Arc Design and other marks used herein are service marks of Citigroup Inc. or its affiliates, used and registered throughout the world.

Eligible Transaction

Eligible Transaction means any purchase excluding (but not limited to) Cash Advances, Balance Transfers, Special Promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, payments to other Citi accounts, bank fees and charges such as interest and ATM charges, transactions made using Points and government related transactions. Government related transactions include transactions with government or semi-government entities, or relating to services provided by or in connection with government (for example but not limited to transactions made at Australia Post, payments to the Australian Taxation Office, council rates, motor registries, tolls, parking stations and meters, fares on public transport, fines and court related costs). Please note that whether or not a transaction is an Eligible Transaction will be determined based on information provided either by the merchant or the relevant financial institution (including information about the type of business conducted by the merchant). This means that, for example, spend with certain merchants may be characterised as spend with a government related entity and therefore not an Eligible Transaction, even if that merchant is not in fact a government related entity.

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