Citibank Singapore Corporate Bank Account

Citibank Singapore Ltd is a wholly-owned subsidiary of Citigroup, one of the world's largest financial services organizations. Citibank Singapore offers a range of financial services in Singapore including corporate banking, deposit accounts, foreign currency deposits and investments as well as credit cards, mortgages, insurance and charge cards.

Account Opening Timeline

For Singapore incorporated companies, the account opening process is fairly quick (couple of days) as long as the bank is satisfied with the documents submitted and no further verifications are required. The account opening for an offshore company can take few weeks.

Account Types & features

High Yield Current Account • Operates as ordinary corporate account • Earns interest on daily transactional balance • Free unlimited checks • Monthly statements with cheque images • Round the clock phonebanking and internet banking CitiAccess Account • Interest earning US dollar checking account • Free unlimited checks • Monthly statements with cheque images • Round the clock phonebanking and internet banking

Minimum Balance

A minimum initial deposit and total average monthly balance of S$50,000 must be maintained. The minimum balance for all types of business accounts and currencies is S$50,000 equivalent. This balance is computed as a total of all accounts held with Citibank. A maintenance fee of S$100 is payable if the balance falls below the required minimum.

Internet Banking Features

CitiDirect Online Banking combines quick and easy installation and automatic system upgrades with custom reporting and around-the-clock access to account information in real time from anywhere in the world. It combines centralized access to corporate banking functions with flexible reporting and file management capabilities. It can be integrated with other backend applications. Features include:

• Enables you to manage a list of reports you have designated as Favorites for faster access to the information you need on a regular basis.
• WorldLink Payment Services through CitiDirect Online Banking is a cross-border payment service that allows you to make payments in multiple foreign currencies, purchase foreign exchange online to fund the payments and then fund Citibank in your local currency with a single, consolidated remittance.
• Notifications on events such as Transactional credits and debits, Current and Scheduled Available Balance, Prior day ledger balances etc can be delivered to you via e-mail or any e-mail enabled handheld device such as a cell phone, pager, BlackBerry device and PDA.