Is U.S. CitiGold status from Citi Bank worth it in Thailand?

[Will2011]

Hello,

After the recent AEON ATM "takedown" on free withdrawal fees, I was wondering if anyone had experience with Citi Bank U.S. and its CitiGold status, especially using Citi ATMs in Bangkok.

I am contemplating U.S. CitiGold status, as it seems to suit my needs. But before acting, I'd like to hear from your comments.

Thanks

[Will2011]

Am I posting in the right section?

Sent from my iPad using Thaivisa Connect Thailand mobile app

[ozsamurai]

Citibank is pleased to invite you to become our Citigold Global Client in order to enjoy more privileges. Regarding to our conversation on Citibank Thailand and Citibank Japan difference / similar points. May I inform our similar privileges because we may have some different policy under each country regulation. And comparison about Citibanking Account and Citigold Account, please kindly consider per below :

• We have Global Citigold Client process – If you have Citigold account in Japan, you can open Citigold account in Thailand without requirement to maintain minimum balance THB 2million. In the same way, if your open Citigold account in Thailand with minimum balance THB 2million, and you don’t have Citigold status in Japan, you can refer Citigold status in Thailand to upgrade your account in Japan to be Citigold status as well.

• We have Global Citigold privileges as same as every Citibank country in the world.

Global Access

We're always standing by to help you. As a Citigold client, you can visit our Citigold lounges across the globe and have access to complimentary business facilities such as local telephone, fax and meeting rooms.

Global Reach

Whilst travelling, Citigold clients can reach out to our 24-hours Citigold Hotline in Thailand via a single toll free number 800-CITI-CODE (800-2484-2633) free-of-charge. To reach out to the 24-hour Citigold Hotline in Thailand, you are advised to call us from your landline telephone from the participating countries. In case the call is made from your mobile phone, you may be subject to both domestic line usage and International Roaming usage or other types of associated fee.

1. Simply dial the International Access Code (e.g. 001), followed by 800-2484-2633. International Access Code may differ from country to country. You are advised to find out further information from local phone operator.
2. Enter country code 66 for calling Citigold Hotline in Thailand.

Emergency Cash

If you find yourself in an emergency situation in overseas, you’re able to withdraw up to US$10,000 from your account in Thailand free of charge. Simply dropping by the nearest local Citigold center, picking up your cash from your account in Thailand, and you’ll be on your way in no time.

Emergency cash may be with Citicard, you can withdraw cash from over 1,000,000 ATMs in the Citibank, PLUS, STAR and NYCE network in more than 160 countries with handling charge waived. Available in US dollars or other available denominations depending on locations.

Overseas ATM withdrawal

With Citigold Citicard, you can withdraw cash from over 1,000,000 ATMs in the Citibank, PLUS, STAR and NYCE network in more than 160 countries with handling charge waived*.

Citibanking Account

Initial account opening balance is 100,000 Baht(equivalent)for Thai Baht account and US$ 5,000 for US$ Account. Interest is calculated daily and is credited to your account twice a year in June and December.

• Enjoy easy access to your account via ATM, online, and phone.
• Cash withdrawal through ATM locally and globally through International Citicard.
• Fee-free cash withdrawal through Citibank ATM and participating ATM locally and globally*.
• Free International Citicard annual fee.
• Citibank Normal Savings Account conveniently allows automatic fund transfer service between your Savings Account and Checking Account.

Foreign Currency Saving Account

Citibank U.S. Dollars, Australian Dollars, Singapore Dollars, Hong Kong Dollars, Yen, Pound Stering, Euro and Swiss Franc are foreign currency savings, which allows you to use for settlement perpose.

Citigold Wealth Management

Initial account opening balance is 2,000,000 Baht(equivalent)for Thai Baht account. Making very interaction meaningful, at Citigold every conversation is about helping you enhance your wealth. You will have access to personalized wealth advisory services. Backed by our global expertise that provides you with customized solutions, tailored to meet your needs.

Exclusive access to Citigold Wealth Management Services

o Benefit from the advice of your personal Citigold Relationship Manager and Investment Consultant

o Receive comprehensive Portfolio Review of your investment portfolio on a regular basis

o Be invited to Citigold exclusive Investment Saminars very month

o Receive periodic Market Outlook Update from our Global Research team

Unmatched banking Convenience

o Complimentary access to a Citigold Client Lounge at over 100 Global Access Branches

o Fee free ATM withdrawal at all ATMs in Thailand

o Fee free local fund transfer via Citibank Online to all banks in Thailand

o Access 24hours to CitiPhone Banking Services 02-232-2400

o Access your account through Citigold Online www.citigold.citibank.co.th

Global Banking – A Citibank customer anywhere, is a Citibank customer everywhere.

o Pre-arrival account opening assistance when you relocate to another country.

o Free and instant fund transfers to Citibank accounts worldwide through Citibank Global Transfer

o Enjoy the Citigold status when you open a new account in other country

o Free cash withdrawals overseas at over 20,000 ATMs and 4,000 branches in 42 countries

o Access to complimentary emergency cash services up to USD$10,000 from your account without any fee

o Connect to 24/7 CitiPhone service in your home language from any place in the world via Citigold Global Toll-Free number 800-CITI-CODE(800-2484-2633)

Enjoy preferential rates, reduced fees and priority services.

Service fee and charges

Minimum Balance fee

Citibanking

Citigold

When deposit balance under amount required

THB100/month

THB500/month

Foreign Currency deposit(USD Account)

Citibanking

Citigold

Cash Withdrawal-com in lieu of exchange(FAF)

2% of amount

1% of amount

Deposit-com in lieu of exchange(FAF)

1% of amount

1% of amount

IBSS services

Citibanking

Citigold

Emergency cash withdrawal service for Citibank

fee-USD25

Fee-Free

Maximum amount

USD1,000/month

USD10,000/month

*depend on your available balance in your Citigold

account

International Fund Transfers

Online Channels (Citibank Account to Citibank Account).

Citibank Global Transfers

Citibanking

Citigold

Fee

Fee-Free

Fee-Free

Limit per day

USD 20,000/day/Transaction

USD 20,000/day/Transaction

Remittance Time

Immediate

Immediate

Online Channels (Citibank Account to non-Citibank Account).

Citibank Telegraphic Transfers

Citibanking

Citigold

Citibank, N.A.(Thailand) charges

THB500/Transaction

THB250/Transaction

Limit per day

USD 20,000/day/Transaction

USD 20,000/day/Transaction

Remittance Time

2 Business days

2 Business days

Domestic Fund Transfers

Online Channels (Citibank Account to Citibank Account).

Local Citibank Transfers

Citibanking

Citigold

Fee

Fee-Free

Fee-Free

Limit per day

THB 150,000/day

THB 300,000/day

Remittance Time

Immediate

Immediate

Online Channels (Citibank Account to non-Citibank Account).

Local Citibank Transfers

Citibanking

Citigold

Fee

Fee-Free

Fee-Free

Limit per day

THB 150,000/day

THB 300,000/day

Remittance Time

2 Business days

2 Business days

Over the Counter Channels at Branch

Citibank to Any Account.

Citibank Telegraphic Transfers

Citibanking

Citigold

Citibank, N.A.(Thailand) charges

THB700/Transaction

THB350/Transaction

*Com In Lieu 0.25%(Min THB300)

*Com In Lieu 0.125%(Min THB150)

Limit per day

No Limit

No Limit

Remittance Time

2 Business days

2 Business days

ATM Channels

Fund Transfer from local Citibank Account to local Citibank Account.

Local Citibank Transfers

Citibanking

Citigold

Fee

Fee-Free

Fee-Free

Limit per day

THB 150,000/day

THB 300,000/day

Remittance Time

Immediate

Immediate

Fund Transfer from local Citibank Account to non-Citibank Account.

Local Citibank Transfers

Citibanking

Citigold

Fee

Fee Waived up to 2 transactions per month*

Fee Waived up to 2 transactions per month*

- *for 1st transaction of each calendar month on

- *for 1st transaction of each calendar month on

Citibank ATMs

Citibank ATMs

- *for 1st transaction of each calendar month on

- *for 1st transaction of each calendar month on

non-Citibank ATMs

non-Citibank ATMs

- THB 25/Transaction with transfer amount up to

-THB 25/Transaction with transfer amount up to

THB 10,000

THB 10,000

- THB 35/Transaction with transfer amount of

-THB 35/Transaction with transfer amount of

THB 10,000 - THB 30,000

THB 10,000 - THB 30,000

Limit per day

THB 100,000/day

THB 100,000/day

Remittance Time

Immediate

Immediate

Cash Withdrawal.

Local ATMs in Thailand

Citibanking

Citigold

Fee

Fee-Free

Fee-Free

Limit transaction per day

No limit

No limit

Limit per day

THB 50,000/day

THB 100,000/day

Disclaimer : For more information, please contact Citibank branch

Subject to bank conditions.

[Will2011]

Hello,

Thanks for the info. You are good at copy-pasting!!!

However, my post is about asking comments from users rather than reading from a sales representative advertising. Plus, I never talk about Japan. My post refers to U.S. CitiGold status and using it in Thailand.

Any useful comment?

[roadrunerboi]

Dude... chill!

I have a Citigold account... I get paid in USD to a Citi account in the USA.

Having a Citigold account in Thailand means ZERO bank fees and relatively good forex conversion rates.

Service is good because its personal to the extend that sometimes its irritating cos they call you to tell you what rate your EFT is at, etc.

It makes paying the Royal Orchid Plus and Ultima credit cards a breeze!

Now... I am a Citi Global Executive so am not subjected to min. balance and alot of those restrictions in the copy and paste above do not apply to me as well... but there maybe a THB100,000 min balance you have to maintain...but it should be peanuts if you are asking re Citigold accounts.

Hope this helps!

Edited March 21, 2014 by roadrunerboi

[Soutpeel]

Hello, Thanks for the info. You are good at copy-pasting!!! However, my post is about asking comments from users rather than reading from a sales representative advertising. Plus, I never talk about Japan. My post refers to U.S. CitiGold status and using it in Thailand. Any useful comment?

Although I am not answering your direct question, I hold a citigold account in singapore and have had occassion to use the Citigold lounge in Citi Bangkok, and wasnt overly impressed as they couldnt even answer a basic query, the only benefit I got was using their phone to call Singapore myself..

My advice set your primary account up in Singapore and if looking to get round the THB 150 transction fee, open a smaller account with Citi Thailand and avail yourself to the free internal citi to citi transfers and periodically transfer cash to your Thai account and use your Thai Citi ATM card to withdraw in Thailand...Singapore requirements are the same USD 150k on account, etc etc.

this way you dont have large chunk of cash "exposed" in Thailand, Singapore obviously speaks good English and are very responsive on the customer care front, per comment from my relationship manager in Sing with resepct to Citi Thailand ATM cards, Citi Thailand operate with a 4 digit pin which in his opinion is not very safe and they should be using a 6 digit pin

Edited March 21, 2014 by Soutpeel

[Will2011]

Thanks for your advice, it's good to know.

There are two main things:

- I'd need to open an account in the U.S. for income purposes.

- The U.S. CitiGold status only requires USD50k as opposed to Singapore.

On the side note, I am unsure why I'd even bother opening a citi account in Thailand if there's no international citi atm and transaction fees with U.S. Citigold

[Langsuan Man]

and relatively good forex conversion rates.

Not in my experience

When I was buying my condo I had to raise the cash deposit while I transferred funds from other bank accounts to E*trade for a SWIFT wire. Used both the E*Trade and my US CitiBank ATM card and was really annoyed at the lousy exchange rate I got using the CitiBank card

This was in the days before the 150 / 180 THB fee for using a Thai ATM with a foreign card so I was using all different Thai bank ATM's so it was a relevant test and CitiBank was a major fail, at sometimes two or three baht lower rate per dollar exchanged than the E*trade card

The good news was that when time for the big SWIFT transfer came I had already learned that CitiBank was not the way to go for Forex

[ozsamurai]

I posted the information (Pasted) from a personal email, it took me quite a great deal of effort to get this clear information for comparison, it clearly tells you what the advantages are and are not, if you did not find it useful, then you can go and take a flying leap, I will not bother next time. Some people....

Oz

[Soutpeel]

Thanks for your advice, it's good to know.

There are two main things:

- I'd need to open an account in the U.S. for income purposes.

- The U.S. CitiGold status only requires USD50k as opposed to Singapore.

On the side note, I am unsure why I'd even bother opening a citi account in Thailand if there's no international citi atm and transaction fees with U.S. Citigold

But using you US citi ATM card even at a Citi bank ATM in BKK, may attract the THB 150 transaction fee on Citi international cards, this is a Thai goverment thing not Citi bank, On this one I am not sure of, the times I have used my Singapore Citi cards in the BKK ATM was before Citi got caught up in the Thai surcharge thing.

[Langsuan Man]

Why do people keep blaming the Thai government for the 150/180 THB fee for using a foreign ATM card. It was The Thailand Bankers Association that encouraged their members to implement the fee. Not the Thai government. So CitiBank's decision to start charging was a profit decision, not something that they were required to do by any government agency

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[commentor101]

So will a US citibank citigold debit card get charged 180Baht fee at a Thai Citibank ATM?

Seems like people are saying that a regular US Citibank Debit is going to get charged 180baht at a Thai Citibank ATM.

True to both?