Citibank (NYSE: C), as one of Hong Kong's prominent foreign banks, offers a wide range of financial services including accounts in Hong Kong dollars and various foreign currencies. This article provides a detailed exploration of Citibank's popular account types, opening requirements, procedures, and related services.

Citibank Products and Services

Citibank Hong Kong provides several types of accounts tailored to different customer needs:

1. Citigold

• Opening Requirement: Minimum average daily balance of HKD 1.5 million.
• Service Fee: If the account balance falls below HKD 1.5 million for three consecutive months, a monthly fee of HKD 500 applies.
• Account Features: Provides comprehensive wealth management services including savings and checking services, with a linked Mastercard debit card and checkbook. Clients can enjoy services from professional financial advisors.

2. Citigold Private Client

• Opening Requirement: Minimum average daily balance of HKD 8 million.
• Service Fee: If the account balance falls below HKD 1.5 million for three consecutive months, a monthly fee of HKD 500 applies.
• Account Features: Exclusive services from the Private Client Business Center, with personalized investment portfolio advice provided by wealth planning advisors.

3. Cross-border Wealth Management (Southbound Wealth Management)

• Opening Requirement: Residents of the Greater Bay Area need to hold assets of at least RMB 2 million with Guangfa Bank and have a designated cross-border wealth management remittance account.

• Service Fee: Waived.

Additionally, Hong Kong residents can opt for other accounts such as Citi Plus and Citi Priority.

Global Transfer Services

Citibank is renowned for its efficient and convenient global transfer services, offering the following advantages:

• Citibank Global Transfers: Instant, fee-free transfers to Citibank accounts in 8 countries/regions globally, with a daily transfer limit of up to HKD 1 million.
• Global Wallet: Supports wallets in 12 currencies, linked to a Mastercard debit card for free withdrawals and spending, mitigating foreign exchange transaction fees and market exchange rate risks.

Account Opening Requirements and Process

Mainland residents wishing to open accounts in Hong Kong should visit a Citibank branch and provide the following documents:

• Identification documents: Copy of Hong Kong identity card or valid travel document (e.g., passport / travel permit).
• Proof of residential address (for investment-related accounts): Utility bill or phone bill dated within the last 3 months.
• Tax identification proof: Such as a TIN number.

Online Account Opening Process

Clients holding Hong Kong Permanent Identity Cards can self-register through the Citibank mobile app:

1. Fill out personal details and select desired investment services on the Citibank registration webpage.
2. Download the Citi Mobile App, enter the application number received during registration.
3. Capture ID card (including three angles), take a selfie for facial recognition, provide residential proof, and sign on a blank sheet.
4. Await bank confirmation and registration.

Branch Appointment and Locations

To save time, it is advisable to schedule an appointment for branch account openings. Contact number for appointments: +852 2860 0333. Here are some branch addresses and opening hours:

• Central: Ground Floor & 10th Floor, Citibank Tower, 20 Des Voeux Road, Central.
• Wan Chai: Ground Floor, 101-105 Gloucester Road, Wan Chai.
• Causeway Bay: Ground to 2nd Floor, 513-517 Lockhart Road, Wai Fung Plaza, Causeway Bay.

Branch opening hours are from 9:30 AM to 5:00 PM on weekdays and from 9:30 AM to 12:30 PM on Saturdays.