What does wealth mean to you? Is it providing for future generations, pursuing your passions, or spending quality time with your loved ones? Whatever your definition, MoneySmart is here to help make it a reality by giving you an objective view of financial products.
In this blog post, we’ll dive into Citigold and discover the account opening requirements, welcome rewards, and possibility of opening a Citibank offshore account to make sure you have the necessary information to make an informed decision!
Table of Contents
- MoneySmart’s Citigold exclusive welcoming offer
- Citigold account opening promotion
- What is Citigold?
- What is the minimum balance on a Citigold account?
- What are the features of a Citigold account?
- Citigold/Citigold Private Client exclusive services
- What are the features of a Citigold offshore account?
- How to apply for a Citibank offshore account?
- How to open a Citibank offshore account (Citibank International Personal Bank) in Singapore
- Frequently asked questions: Citigold account
MoneySmart’s Citigold exclusive welcoming offer
[product card]
Citigold account opening promotion
There’s more than MoneySmart’s exclusive offer. You can now earn up to HK$78,800 with Citigold’s promotional offer. Check out the following to find out how to get them!
1) New fund offer: up to HK$48,000 cash rebate with new fund offers
To receive the offer up to HK$48,000, simply make deposits that meet the required amount.
| Account Type | Required New Funds | Cash Rebate |
| Citigold Private Client
|
HK$13 million or above | HK$48,000 |
| HK$10 million or above | HK$33,000 | |
| HK$8 million or above | HK$31,000 | |
| Citigold
|
HK$5 million or above | HK$23,300 |
| HK$4 million or above | HK$15,500 | |
| HK$2.5 million or above | HK$11,500 | |
| HK$1.8 million or above | HK$7,500 | |
| HK$1.5 million or above | HK$6,500 |
2) Product balance reward: up to HK$20,000 with a product balance rebate
To earn rewards, you must maintain designated products such as mutual funds, bonds, structured products, insurance Plans, refundable insurance plans, and mortgage loans with Citigold.
| Account Type | Designated Product Balance | Cash Rebate |
| Citigold Private Client | HK$4 million or above | HK$20,000 |
| Citigold
|
HK$2 million or above | HK$15,000 |
| HK$1.5 million or above | HK$11,500 | |
| HK$650,000 or above | HK$6,500 | |
| HK$200,000 or above | HK$2,000 |
3) Referral Reward: up to HK$10,000 per reference
Citigold offers a referral reward that allows you to earn cash rebates when you successfully refer new clients to join their exclusive account.
| For each successful referral | The referred person’s required new funds | Referrer’s cash rebate |
| Citigold Private Client | HK$8 million or above | HK$10,000 per person |
| Citigold | HK$1.5 million or above | HK$2,388 per person |
4) Register payroll reward: up to HK$800
By registering your payroll with a Citigold account, you can receive a cash rebate of up to HK$800, earning some extra cash along the way.
| Monthly Salary | Cash Rebate |
| HK$80,000 or above | HK$800 |
| HK$50,000 or above | HK$500 |
| HK$30,000 or above | HK$300 |
What is Citigold?
Citigold is a prestigious account for managing wealth with Citibank. You can now also open an offshore account with Citibank.
What is the minimum balance on a Citigold account?
To access our Premier Banking services exclusively, simply maintain a minimum Citigold balance of HK$1,500,000.
If you’re interested in Citigold Private Client, a balance of HK$8,000,000 is required.
What are the features of a Citigold account?
When it comes to Citigold accounts, investments play a significant role. Citigold offers a wide range of investment options, along with professional advice and comprehensive tools to help you navigate through market storms.
Trusted professional advisors
Citigold provides valuable insights into high potential sectors and specific stocks across multiple markets. With personalised recommendations based on the latest trends and analysis, you can begin your journey towards financial freedom and success.
Citigold isn’t just about managing your wealth; it’s about finding your true wealth and building a relationship based on trust. At the Citi Wealth Hub, located in the stunning K11 ATELIER Victoria Dockside, you can experience a personalised approach to financial success.
Comprehensive tools are available
Citigold offers a range of wealth advisory tools. Citigold Total Wealth Advisor (TWA) and the Citigold Diversification Index (CDI) to grow your wealth:
Citigold Total Wealth Advisor (TWA)
The Total Wealth Advisor (TWA) is a real-time overview of your portfolio and performance analysis, allowing you to keep track of your goal status at any time and from any location.
Citigold Diversification Index (CDI)
Diversification helps to decrease risk by investing in various products rather than relying on a single investment for a prolonged period of time. With the help of the Citigold Diversification Index (CDI) tool, your Relationship Manager can provide you with valuable insights into the diversification level of your current investments.
ESG-focused investment opportunities
Citi offers Environmental, Social, Governance (ESG) investment options, providing you with the opportunity to tune your portfolio towards ESG trends such as renewable or clean energy.
Citigold/Citigold Private Client exclusive services
Citibank provides a suite of exclusive financial services to its clients, including the shopping perks of using the Citigold Debit card, access to their “Global Wealth Management Center” for market research covering 70 countries. More than that, they offer cash support, a dedicated service hotline, and specialised support for children’s educational needs.
Citigold Debit Mastercard perks
The Citigold Debit Mastercard isn’t just any ordinary card when it comes to shopping. It offers a suite of exclusive perks that are sure to enrich your shopping experience.
From a 1% cash rebate for the first 6 months to discounts on hotels, travel, shopping, and dining, to online shopping protection and wallet loss compensation insurance, the Citigold debit mastercard has got you covered.
Plus, with the Citi Global Privileges logo, you can enjoy related benefits when consuming at restaurants, hotels, and tourist attractions. And if you’re a fan of buffets, you’ll love the buy 2 get 2 free promotion at the Hong Kong Jockey Club Citi VIP Box.
Banking services fee waivers
You can now enjoy the convenience of fee-free online wire transfers when purchasing gift cards, travel checks, and bank drafts with Citigold. Plus, you can access your money without paying any extra fees when using Citibank’s ATMs overseas.
Free global hotline
It only connects with Citigold’s 24-hour phone banking hotline in your country or region by dialling the toll-free global direct dialling number IDD-800-2484-2633.
Children’s overseas education services
Citigold provides exciting opportunities for the children of account holders. They can receive specialised training from the Citi Wharton Global Wealth Institute and take advantage of free online seminars on overseas education as well as consulting services.
Emergency cash support
In the event of an emergency, no sweat; you can access up to USD 10,000 free of charge from over 300 wealth management centers worldwide.
What are the features of a Citigold offshore account?
For those considering offshore accounts, Citigold also provides such services. Take a deep dive into the world of Citigold’s offshore accounts:
- Global account overview service: Check Citibank accounts in 14 countries or regions, including the US and the UK, and view balances.
- Citibank Global Transfer: Transfer money instantly to 18 countries and regions worldwide with no handling fees and a daily limit of HK$1 million.
- Citi Live Chat: Citigold customers can make appointments with dedicated customer managers for Citi Live Chat or contact them through the Citi Mobile App and online wealth management services.
- Free international direct dial telephone wealth management service
How to apply for a Citibank offshore account?
To open a Citibank offshore account and enjoy the benefits of Citigold and Citigold Private Client services, you must meet the minimum balance requirements set by the offshore bank.
For example, if you want to open an offshore account in the United States, you must have at least $200,000 in the offshore account and a minimum of HK$1.5 million in your Citigold account in Hong Kong.
On top of that, you must provide identity documents and taxpayer identification numbers when opening an account. If you wish to open an investment account, you will also need to provide proof of address.
Citibank offshore account opening process
To open an offshore account, you must first open a Citigold or Citigold Private Client account, and you need to apply for an account on the official website. Here are the necessary steps:
- Apply through the Citibank official website.
- Fill in personal information.
- Schedule a meeting.
- Choose the type of account as Citigold or Citigold Private Client.
- Answer relevant questions.
After submitting the online application, bring the required documents, including an ID, proof of address with a name, and a taxpayer identification number (TIN) or equivalent proof, and go to the branch to complete the account opening process.
During the account opening process, the relationship manager will discuss offshore account opening matters with the applicant. If necessary, they will refer relevant information to the local Citibank.
The time required for the process varies by region. For example, opening an offshore account in the United States may take 2-5 weeks to complete the entire account opening process.
Which countries or regions have Citibank offshore accounts that can be opened?
| Country/Region | Is Offshore Account Opening Possible? | In-Person Account Opening Required? |
| Hong Kong | Yes | No |
| United States | Yes | No |
| United Kingdom | Yes | No |
| Singapore | Yes | No |
| Australia | Yes | Yes |
| Canada | Yes | Yes |
| India | Yes | Yes |
| Indonesia | Yes | Yes |
| Malaysia | Yes | Yes |
| Philippines | Yes | Yes |
| Taiwan | Yes | Yes |
| Thailand | Yes | Yes |
| Vietnam | Yes | Yes |
| United Arab Emirates | Yes | Yes |
How to open a Citibank offshore account in Singapore
If you don’t have enough funds to open a Citigold account in both Hong Kong and overseas, Citibank SG offers a compromise solution. You can directly open an offshore account for the lower amount of $200,000 USD. However, keep in mind that if you don’t have a Citibank account, there may be a remittance fee when wiring money.
Requirements for opening a Citibank offshore account in Singapore
- At least 21 years old
- Possess at least $200,000 USD
Process for opening a Citibank offshore account in Singapore
- Fill in personal information on the Citibank Singapore website, leaving your phone number and email for application purposes.
- After applying, a Citibank customer manager in Singapore will directly notify the applicant for follow-up.
- After receiving the application form by email, fill in the relevant information, prepare a passport or lawyer’s notarization, an identity card, and address proof, and then email it to Singapore for review.
- If the Citibank staff in Singapore verifies the information, they will arrange for a DHL employee to collect the documents and send them by express delivery to Citibank in Singapore.
- If the application is successful, Singapore will send a Citibank Global Wallet ATM card to the applicant.
Please note that the normal application process takes about 2 weeks.
Frequently asked questions: Citigold account
What is the minimum balance requirement for Citigold account opening?
The minimum balance requirement for a Citigold account is HK$1.5 million; the minimum balance requirement for a Citigold Private Client account is HK$8 million.
What are the benefits and risks of opening a Citibank offshore account?
Offshore accounts can provide liquid capital for local investment and also serve as a hedging tool. When opening offshore accounts, consider whether the local financial and legal system is trustworthy, if there are additional fees, and if exchange rates and tax rates will affect your returns.
Related Articles
Wanna stay ahead of the herd? Let’s check out the MoneySmart blog for more financial tips!
MoneySmart—Your One-Stop Financial Products Platform
Homepage: www.moneysmart.hk/en/