SINGAPORE, Dec 27, 2023 - (ACN Newswire) - Need to hold funds in a foreign currency outside of the region you are residing in? Citibank's Foreign Currency Account may be your solution - with a single account, you can conveniently carry out transactions in multiple currencies.

Foreign Currency Accounts are highly beneficial to frequent travellers, expatriates, and international traders or investors who deal in multiple currencies. Here are the 3 essential benefits you can enjoy as a Citibank Foreign Currency Account holder:

• Carry out cross-border transactions with ease
• Deposit funds in your preferred currency, simplifying the management of your overseas transactions.
• Make hassle-free payments abroad with Citibank Debit Mastercard in multiple foreign currencies.

A Foreign Currency Account can be instrumental in streamlining your international banking needs. To understand this service better, we will explore the various types of Foreign Currency Accounts offered by Citibank.

Choose from a wide range of Foreign Currency Accounts from Citi

Citibank offers four types of Foreign Currency Accounts to its customers:

• Global Foreign Currency Account : This account allows you to streamline your transactions in multiple currencies such as Australian Dollar, Canadian Dollar, Euro, Hong Kong Dollar, Japanese Yen, New Zealand Dollar, Sterling Pound, Swiss Franc, US dollar, and more on a single platform. You can use the Citibank Debit Card to pay for your international purchases without incurring any currency conversion fees. Additionally, this account helps you easily manage all your regular international transactions via Internet Banking, ATMs, AVR, and CitiPhone Banking. Checking facilities are also available for USD transactions - the first cheque book will be issued upon request at no charge once your account is opened, and subsequent chequebooks can be issued upon request via Citibank Online.
• CitiAccess Account : This checking account is offered by Citibank in the US dollar (USD) denomination, enabling you to handle your USD transactions conveniently. Upon opening this account, you will receive a free chequebook without additional charges. A complimentary check imaging service is also provided with this account to help you monitor and track your transactions.
• US$ Savings Account : As the name suggests, this Foreign Currency Account is a savings account that helps you conveniently manage your US dollar funds. It allows you to transfer funds between accounts, access global ATMs, and conduct seamless regular transactions through Internet Banking and Citi Phone Banking. This account is particularly advantageous for individuals who are not Singapore residents but frequently conduct transactions in US dollars. With this account, you can obtain preferential rates to exchange Singapore dollars and reduce currency exchange and international transaction fees.
• US $ Checking Account : This current account allows you to clear US dollar cheques locally in Singapore. Overseas fund remittance can also be easily done via the Citi Mobile® App or Citibank Online. This Foreign Currency Account by Citibank provides greater transactional flexibility and comes with a complimentary Citibank Debit Card.

Conclusion

Citibank's Foreign Currency Account will come in handy if you frequently carry out international transactions. You can not only transact in multiple currencies on a single platform but also enjoy preferential exchange rates and streamline your overseas transactions. Apply for a Citibank Foreign Currency Account to start enjoying the benefits today!

Citi Singapore

Citi Singapore is a full-service bank offering consumers, corporations, governments and institutions in Singapore a broad range of financial products and services. It is one of the largest foreign banking employers in Singapore and a significant hub for Citi globally. 

The content reflects the view of the article's author and does not necessarily reflect the views of Citi or its employees. Please read the products and offers on the Citi Singapore website for accuracy or completeness of the information presented in the article.

Contact Information
Sonakshi Murze
Manager
sonakshi.murze@iquanti.com

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