This was posted 2 years ago, and might be an out-dated deal.

Related
  • expired

Citi Global Currency Account $0 Per Month (10 Currencies in 1 Account) @ Citibank

240
Citi Global Currency Account $0 Per Month (10 Currencies in 1 Account) @ Citibank
Go to Deal
AussieDeals on 22/11/2022 - 22:37 www1.citibank.com.au (539 clicks)
Last edited 28/11/2022 - 10:40 by 1 other user

Was clearing out inbox and noticed that Citibank (now owned by NAB) sent an email notifying that they are going to stop offering the Citibank Global Currency Account for new customers who do not have a relationship manager from the 24/11/2022. Nothing mentioned on the website about this change though. Transaction account that holds up to 10 different currencies and no monthly fee.

Benefits and
Features:

Control your exchange rate
Access excellent exchange rates, updated every 10 seconds, to give you control over the best time to change your money. View current exchange rates here.

No fees to send and receive money*
We wont charge you any transfer fees to send or receive money, plus no ATM fees when withdrawing in local currency.
*Receiving bank may charge a fee.

Make purchases in foreign currency
Shop online, in-store or overseas with your Citi Debit Card and in your chosen currency to save on international transaction fees.

Access accounts for 10 currencies
With a Citi Global Currency Account, you'll have accounts for 10 currencies in one place.

Hold and exchange with no wait
Receive and hold up to 10 currencies and move money between them instantly at an excellent exchange rate for immediate use.

 
Available Currencies:

In addition to AUD, you can hold and transact in the following currencies:
Canadian Dollars (CAD)
Japanese Yen (JPY)
Pound Sterling (GBP)
Euro (EUR)
New Zealand Dollars (NZD)
Swiss Francs (CHF)
Hong Kong Dollars (HKD)
Singapore Dollars (SGD)
United States Dollars (USD)

Financial Bank Account Transaction Account

Related Stores

Citibank Australia
Citibank Australia

closed Comments

  • capslock janitor on 22/11/2022 - 22:47

    what's "relationship manager"?

  • easternculture on 22/11/2022 - 22:56
    +2

    Already have one from 10 years ago

  • sydboy007 on 22/11/2022 - 23:07

    just get the HSBC account

  • dyziplen on 22/11/2022 - 23:19
    +1

    I have a basic Plus account, and in the app there is a add currency tab and I just added USD and NZD and two accounts just showed up. Does this mean I now have a global currency account?

  • Ladcake on 22/11/2022 - 23:33
    +1

    Why not just use wise?

  • nightfever on 23/11/2022 - 00:00
    +1

    Why is this a deal? What does it mean? Are you saying everyone who wants it should go and apply for an account before 24/11/22?

    • Dajaba on 23/11/2022 - 00:22

      Same - what does it mean? Is it a way to be able to transfer money from different citibank accounts overseas for free?

      • tharlow on 23/11/2022 - 02:00
        +2

        You’re better off reading the product brochure, but this is my take — the Plus account allows you to spend via debit card or withdraw cash overseas (no international transaction fees). The Global Currency account is more for holding non-AUD currencies (i.e., for receiving rent from your Hong Kong investment property in HKD). You could also use the Global Currency account to convert to USD in advance of your trip to the US, hold that USD in a separate account, and thus insulate yourself from further currency fluctuations. But, of course, almost nobody knows if that would be better than just spending as you go, and getting the daily VISA/Mastercard rate each time

  • oceani on 23/11/2022 - 05:49
    +1

    Go with Revolute. 2hr transfer to OS bank accounts. No commission, no international transaction fee, no commission on exchange either. Loving it. Just watch out for weekend exchange fee.

    • lgacb08 on 23/11/2022 - 06:59

      Revolt is meh, wise is better, they have fee but the actual cost difference is negligible because anyone claiming no transaction fee already add their fees into the rate, Revolut just copied the marketing crap from Western Union PayPal. All they do now is trying to upsell you the exorbitant monthly fee and the useless metal card.

      • Happybird on 23/11/2022 - 10:58
        +2

        I find that Revolut generally has better rates than Wise even with the $8 fee. but it may depend on the currency you transfer to.

        • tharlow on 23/11/2022 - 20:06
          +1

          Revolute

          The French fintech looking to make its mark

          Revolt

          Targeting customers fed up with old-school banking

          Revolut

          Never heard of them…

  • FredAstair on 23/11/2022 - 10:19

    Any idea if this one includes free travel insurance.

    Hard to find which cards do and which don’t.

    • tharlow on 23/11/2022 - 13:11

      A debit card? Unlikely

  • shw01 on 23/11/2022 - 12:10
    +1

    From a customer with Citi for years (I have both Plus and Global Currency accounts), these accounts used to be good, fee free and handy for international transactions and transfers. But now, the pains using them outweigh any benefits.

    As a matter of fact, I am still waiting for an OSKO transfer to be cleared in my Citi account since last night. And similar delays have occurred repeatedly since late last year or earlier this year.

    • nightelves on 23/11/2022 - 16:51

      What are the pain points?

      • shw01 on 23/11/2022 - 19:57

        Repeated random delays with OSKO transfers. It seemed to be less of a problem when the transfers were from some banks in some cases, but "random" is the keyword.

        And don't get me started with their overseas transfer delays.

        They always claimed that they required further information before they could release the funds when I contacted them. BUT the issue is that they never notified either senders or receivers about their questions. Every time I had to call their customer service first to realize that they were actually after some info. Otherwise the money was just being there as "unavailable"…

    • FredAstair on 23/11/2022 - 20:00

      Ok. Thank you.

  • G-Dawg on 23/11/2022 - 14:25

    I think a big difference between this and Wise is that Wise has limits to how much foreign currency you're able to hold in your account. Once you go over this limit Wise start charging you a monthly fee.

    I haven't done the calculations to check whether Citibank is a good value solution for holding foreign currency over longer periods, but it's worth noting that (I believe) interest is only paid on the AUD account (as per their webpage):

    "If you have at least $25,000 in your Australian Dollar account, you’ll earn 2.20% p.a. interest"

    My general approach has to be transfer and exchange foreign currency using Wise, but I'm not sure if Citibank is the best solution available for holding foreign currency.

    • nightelves on 23/11/2022 - 16:50

      Is it free conversion with WISE and how are their exchange rates?

      • G-Dawg on 23/11/2022 - 16:57
        +1

        Wise isn't free, but their rates tend to be good.

        Also, some providers that advertise 'fee free' conversions have really poor conversion rates, which can make them more expensive overall.

  • 1parle on 23/11/2022 - 19:03

    Help Please -
    what's the best way to encash a cheque issued in USD? I got some stocks via the employer held in US. Now and then, they send a dividend cheque in USD of 50-100$, but none of the major banks processes foreign cheques now, or the fee far outweighs the value of encashing the small cheques.

    Also, when I sell the shares, what's the best way to get the money in my Australian bank? I mean, which banks have the best rates and fewer fees? Does Wise or Revolt offer a bank account I can use to receive the money?

  • mwclih on 24/11/2022 - 12:08

    If receiving USD and needing to convert it immediately, is Wise still the best option? For example, receiving USD100k into Wise and then converting and transferring it to an Australian bank account.

Login or Join to leave a comment
Login Join