The Citibank Plus is a no monthly fee transaction account that also offers unlimited free basic transactions within Australia.
Given Citibank’s global presence it’s not surprising that transferring funds overseas is one of it’s forte’s. Using Citibank’s Global Transfers system you can transfer funds for free, almost ‘intstantly’ they claim, to one of 27 specified major countries for no transaction fee. There will be a ‘commission’ charge on the change of denomination however. The destination bank account must also be with Citibank but does not have to be in the same name.
Summary of basic features:
- no monthly account fee
- no transaction fees for basic Australian transactions
- no minimum deposit or ongoing balance
- free transfer of funds to Citibank bank accounts in 27 major countries in most cases ‘almost’ instantly (subject to exchange rate commission)
- free unlimited ATM withdrawal access from Westpac, St George, Bank SA or Citibank ATMs in Australia
The current interest rate like most is 0%. For high interest savings accounts see the Citibank Online Saver. You can attach up to 3 separate high interest savings accounts to the Citibank Plus account.
You can use the associated Visa Debit card to withdraw funds from any Westpac, St George Bank, Bank SA or Citibank ATMs in Australia or via EFTPOS. There is also a cheque book facility available and funds can be moved around using phone and internet banking.
Ability to transfer funds almost instantly to other Citibank bank accounts (does not have to be in your name) in 27 major countries.
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Disclaimer: Product features including interest rates can change without notice. Please confirm all details with the product provider before taking any action.