BWI: Citibank Launches Preferred Rupee Checking Account for NRIs

Press release from Business Wire India
Source: Citi
Tuesday, May 05, 2009 11:41 AM IST (06:11 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
Release no: 19863
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Citibank Launches Preferred Rupee Checking Account for NRIs


Mumbai, Maharashtra, India, Tuesday, May 05, 2009 -- (Business Wire India) -- Citibank N.A. today announced the launch of the Preferred Rupee Checking Account, a one-of-a-kind niche offering for Non Resident Indians (NRI). The key value-added features of the Citibank Preferred Rupee Checking Account are a dedicated priority service platform, superior foreign exchange rates on inward remittances, lower service charges on a range of banking services and custom-designed privileges on some characteristic India-oriented requirements of NRIs.

The Preferred Rupee Checking Account will be an account domiciled in India and denominated in Rupees under the aegis of Reserve Bank of India. Through a wide range of convenient and secure channels, Preferred Rupee Checking Account customers will be able to remit money from a foreign country into this account, which can then be operated by their mandate holder in India.

Customer privileges offered with the Citibank Preferred Rupee Checking account are:

-- Competitive Foreign Exchange rates on inward remittances

-- Preferential Service Charges on transactions

-- Superior Service Delivery: Citibank Preferred Rupee Checking Account customers will have access to a dedicated helpline attended directly by a CitiPhone officer with a priority turnaround time for query resolution.

Announcing the launch, N Rajashekaran, Country Business Manager, Global Consumer Group, Citi India, said, "The Rupee Checking Account is our flagship product for the Non Resident Indian and we are delighted to complement this very successful offering with the launch of the Preferred Account. Recognizing the subtle yet distinctive differences in the needs of the NRI, the Preferred Rupee Checking Account offers both transactional and lifestyle benefits. We are confident that our assembly of privileges for the Preferred Rupee Checking Account holder will help make his interactions with home more enjoyable and rewarding."

Citibank recently launched Citi Online Remit, a new online money transfer service to India that provides NRIs based in the US the facility to transfer funds to India from any US Checking/Savings account or using a US Credit/Debit Card as a direct transfer into the beneficiary's Bank account or as a draft couriered to the beneficiary's mailing address in India.

Global Indians have trusted Citibank NRI Business to manage their wealth for over two decades. Recognizing the needs of the Non Resident Indian, Citibank offers a number of products such as the Citibank Rupee Checking Account, international ATM and Debit cards and an unparalleled service in draft delivery to beneficiaries in India. The business also provides Wealth Management for the Global Indian. The NRI business has a presence across the globe with eight major regional hubs in USA, Canada, UAE, UK, Australia, Kenya, Singapore, and Bahrain, and manages assets worth over US$ 6 billion for 200,000 customers. Citibank NRI Business has been present in the US since 1985 and today manages the banking and wealth management needs of over 120,000 clients in the country.

For more information on the Citibank Preferred Rupee Checking account, please visit www.citinri.com.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.


CONTACT DETAILS
Indu Aishwerya Anand, Citi, + 91 (0124) 418 6766, indu.anand@citi.com
Shreela Roy, IPAN, + 91 9820149119, shreela.roy@ipan.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst

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