We're pleased to advise that on 1 June 2022, National Australia Bank Limited (NAB) acquired the consumer banking business from Citigroup Pty Ltd (Citi) and appointed Citi to provide transitional services. "Citi", "Citibank", "Citigroup", the Arc design and all similar trade marks and derivations thereof are used temporarily under licence by NAB from Citigroup Inc. and related group entities.
Does the Citi Global Currency Account have any fees?
Is there a monthly service fee or minimum balance required?
No, there isn't a monthly account keeping fee or a minimum balance required.
Are there any ATM fees?
No, we won’t charge any fees, but the ATM operator you use may.
Are there any fees when sending money (Australia or overseas)?
No, we won’t charge any fees, but the bank that's receiving the money may.
Are there any fees when receiving money (Australia or overseas)?
No, we won’t charge any fees, but the bank that's sending the money may.
Are there any fees when making overseas purchases?
No, there are no foreign transaction fees on this account.
Is there a fee for closing my account?
No, but we’d be sad to see you go.
Note: if an account is closed with a balance of less than AUD $5 (or equivalent in another currency), the credit balance will not be returned to you. Refer to your account Terms and Conditions for more information.
Is there a fee if my account is overdrawn?
No, but you will not be able to make more purchases until a positive balance is restored.
Do I earn interest on the account?
Yes, you can earn interest on your Australian Dollar currency account based on the account balance.
If you have any more questions about your Citi Global Currency Account, please contact us.
How To Apply
What you need to know before applying
- You must be over 18 years old.
- You must have a valid email, mobile number and Australian residential address.
- Transaction accounts opened online are for personal use only and cannot be used for business purposes.
- Joint accounts currently cannot be applied for online, single applicants only.
- While it is not mandatory to provide your Tax File Number, without this we are required to deduct tax at the top marginal rate.
- You must have either an Australian Drivers Licence or Passport, so we can verify your identity online.
Who is this account best for?
This account is best suited for Australian residents those who live a global life. For example you could:
have parents, children or family living abroad
have international investments or are looking to invest internationally
have properties overseas which you collect income from
regularly travel to a country for work, to visit family or leisure
regularly make international purchases or transfers
The product may not suit you if you need to earn interest on balances of less than AU $25,000 or earn interest on balances held in a foreign currency.
Have you considered a basic account?
A basic account have, at a minimum:
No account keeping fees
Free periodic statements
No minimum deposits
Free direct debit facilities
Access to a debit card at no extra cost
Free and unlimited Australian domestic transactions*
*Note that you may be charged for certain ancillary services. For example, bank cheques, telegraphic transfers, or transactions at ATMs owned and operated by third parties.
Special features of a basic account:
No informal overdrafts (except where it is impossible or reasonably impractical for us to prevent your account from being overdrawn)
No dishonour fees; and
No overdrawn fees.
If you have a government card, such as Commonwealth Seniors Health Card, a Health Care Card, or Pensioner Concession, you may instead want to consider opting for our basic account, Citibank Plus Transaction Account.
Citi Global Currency Account.Your global life, made simple.
Whether it's for work, leisure or family we all find ourselves dealing with foreign currencies at some point. By understanding why currencies change in value you will be able to better determine when to buy or sell currencies, and that knowledge can save you thousands of dollars.
1. Additional fees may apply from other financial institutions.
National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”), is the issuer of Citi branded financial products. NAB has acquired the business relating to these products from Citigroup Pty Limited (ABN 88 004 325 080, AFSL and Australian credit licence 238098) (“Citi”) and has appointed Citi to provide transitional services.
NAB is an Authorised Deposit-taking Institution (“ADI”). Under the Australian Government’s Financial Claims Scheme your AUD deposits with NAB may be guaranteed up to $250,000 per account holder per ADI. Citigroup Pty Limited holds no deposits. The Scheme does not apply to your non-AUD deposits.
“Citi”, “Citibank”, “Citigroup”, the Arc design and all similar trade marks and derivations thereof are used temporarily under licence by NAB from Citigroup Inc. and related group entities. .