Citibank Plus Account – Everyday Account
Citibank is one of the world’s leading financial institutions. They offer a comprehensive range of services that are designed with their customers in mind. The Citibank Plus account is a great product for people who are looking to have the freedom of a credit card but also would like to benefit from not having any fees.
How Much Does the Citibank Plus Account Cost?
This account gives you access to a Visa Debit card as well as a cheque book, so unlike a regular credit card, you do not have any annual fees to pay. You will be able to take advantage of an unlimited number of free transactions every month and there is a $0 monthly fee for account keeping. By not having to pay for these services, you will be saving a large sum of money in the long run. $0 ATM Fees at Citibank, Westpac, BankSA and St .George branded ATMs around Australia.
In addition to this, you will be able to perform instant global transfers to other Citibank accounts in 25 different countries around the world for $0. Anyone who has transferred money knows how costly this can be. With this great account from Citibank, you will have access to this service for absolutely no charge.
What Are the Features of This Account?
Citibank’s Plus account is designed to fit the needs of every customer and offers card holders a number of very flexible options. The minimum opening balance for the account is $0, and the minimum ongoing balance is also $0. Because there are no minimums, you will not feel stressed or pressured with having to make minimum deposits into your account every month.
You will be given a Visa Debit card, which can be used exactly like a regular credit card. You will be able to make purchases locally, internationally and on the Internet. By having this account, you will always have access to your money – wherever you are in the world.
Citibank are known for the service that they provide their customers. With this account, you will have access to your account with telephone banking, online banking and even mobile banking. By offering these services, Citibank ensures that you will be able to monitor your money at all times.
You also have the option of linking your Citibank Plus account to as many as three other Citibank Plus savings accounts.
Fee Free Banking
Fee free banking rates high in my star rating for any product I use from Australian lenders. Even a pesky $8month account fee will add up over the years. Plus I could buy myself a couple of cups of coffee for that money. The Citibank Plus Transaction Account comes fee free. This means you will not have to pay a single cent to use this lifestyle account for your own purposes.
- No account-keeping fees to pay
- Unlimited monthly transactions
- Free money transfer to other Citibank accounts in 25 countries
Important Note re Fees
While the use of this account is free of charge, there are fees you must consider for things like; international payments, bank cheques, overdrafts, foreign currency services, dishonours, direct charges from other ATM owners and other general banking services.
Since you will be responsible for this account you should apply the usual caution recommended for any financial service.
On-Demand Funds
Imagine having a transaction account that costs you no single cent, yet when you want your money available it will be instantly. The Citibank Plus Transaction Account gives you peace of mind whether you holiday in Australia, go shopping in your home town or venture abroad. Your linked Visa debit card will allow you instant access 24/7 from any ATM that displays the Visa logo worldwide. You can also transfer your money electronically to other global approved Citibank locations .
How to Access Your Money
Accessing your money with this account is easy. You can use the following tools to do that:
- Visa Debit Card
- ATMs and EFTPOS
- Overseas ATMs
- Australia Post Bank@Post Outlets
- Internet Banking
- Phone Banking
- Written Instructions
- With a Cheque Book
Will I Earn Interest With This Account?
You will earn indirect interest with this account. This means the Citibank Plus Transaction Account is not earning you a cent in interest. But, the linked savings account will. You earn 3.25% p.a. To benefit from these earnings you will have to move your funds into the linked account via online banking. It is in the nature of these accounts that they are to be used online.
My tip is to move the larger portion of your savings into the interest-giving account, and leave enough in the transaction account to allow you to pay for your lifestyle.
If need be you can move your money daily to take advantage from the small interest given. Remember, every dollar counts.
What is the Minimum Deposit Required
The minimum deposit required to open a Citibank Plus Transaction Account is zilch = $0. Provided you fulfill the requirements to open one of these accounts you can get started today if you like.
Other Specifics
Monthly Statement
Citibank will also provide you with a monthly account statement to help you keep track of your spending.
Personal Only – No Business
You should be aware that this account is not open for businesses, not-for-profit and other organisations and trusts. Personal use only.
Who Can Apply?
An application for this account can be made from the comfort of your home, online. You will need to consider the following before you proceed. Collect all necessary documents to make this a hassle free experience:
- Applican’ts must be 18 years or older
- At the end of your application you are asked to submit a signature card. Please bring your signature card into a Citibank branch. Alternatively you can mail it. If you do, make sure you send via registered mail
- Provide proof of identity; passport, driver’s license or utility bill – must be shown in branch or at an Australia Post outlet
- Provide full address details, including a valid email address (you will receive a confirmation email from Citi), if you apply as joint account holders both parties must provide specifics
- A TFN or a valid exemption proof
Features Re-Visited
In case you haven’t realised how good a deal this is, here it is again. A fee-free plus transaction account that allows you to travel, enjoy your lifestyle and keep the banking costs down to an absolute minimum. One of the best features of this deal is that it is provided by Citibank – a worldwide banking conglomerate. Giving you access to funds anywhere you go.
Transfer Money Freedom
With this account you can also transfer money to any non-Citibank account worldwide. Up to $100,000 as a matter of fact. Never be caught short handed while travelling overseas again. The charges for doing so are very minimal too:
- $25 per outward transfer from your Citibank Australia account.
- $10 per incoming transfer to your Citibank Australia account.
- It takes 3-5 business days for the transactions to be approved.
- If you transfer your money out of your Australian account into an overseas participating Citibank the transfer is instant and fee free. Bear in mind that local laws might delay access to your funds for up to 24 hours.
Free Transfers to the Following Citibank Locations
How Do I Apply?
The application process is very simple. You can apply online or in person at a Citibank branch. You will have to provide Citibank with certain pieces of information in order to apply for the account:
- You must provide proof that you are at least 18 years of age.
- You must provide two forms of identification that will prove that you are identified in Australia. One of these items has to be a form of photo identification.
- You will have to complete and submit a signature card to Citibank when the application process has finished. The signature card must either be mailed to Citibank at the specified address or taken to a branch.
- You will have to provide certain personal details. This includes your residential address and contact details as well as your current e-mail address. Your application will be confirmed and electronic notices will be sent to you via this e-mail address.
- You will have to provide your Tax File Number (TFN) or a valid exemption. It is not mandatory for you to provide your TFN, however, without it Citibank will have to deduct taxes at the highest marginal rate.
Related posts:
- Citibank Online Saver – The Easy to Use Savings Account
- Citibank Ultimate Business Saver
- ME Bank EveryDay Transaction Account
- Teachers Credit Union Everyday Account
- Helping You Pay Fewer Fees On Your Everyday Banking Account
- Teachers Credit Union Everyday Direct Account
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Read the official terms and conditions
Related posts:
- Citibank Online Saver – The Easy to Use Savings Account
- Citibank Ultimate Business Saver
- ME Bank EveryDay Transaction Account
- Teachers Credit Union Everyday Account
- Helping You Pay Fewer Fees On Your Everyday Banking Account
- Teachers Credit Union Everyday Direct Account
- People’s Choice Credit Union Everyday Account
Top High Interest Savings Accounts
All of these accounts are FREE to open and require no minimum deposit. They all have easy internet banking access with no transaction fees.
| Savings Account | Account Details | Maximum Variable Rate p.a. | Standard Variable Rate p.a. | Bonus Interest p.a. | Fees | Min Balance/Min Deposit | |
|---|---|---|---|---|---|---|---|
 UBank USaver | High ongoing rate of 5.41% p.a. Deposit $200 monthly to receive a bonus 0.60% p.a, taking this up to 6.01% p.a. Open online. | 6.01% | 5.41% | 0.60% | $0 | $0 / $0 |
 
|
 Virgin Saver Account | High introductory rate for 4 months to grow savings faster. | 5.85% | 4.65% | 1.20% | $0 | $0 / $0 |
|
 ANZ Online Saver | No min balance and earn up to 6.00% p.a. until 30 June 2012. Online exclusive offer. Apply online by 29 February 2012. | 6.00% | 4.25% | 1.75% | $0 | $0 / $0 |
|
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