Being part of the giant Citigroup, Citibank
is one of the largest international banks in the world. The entity was founded in the beginning of the 19th century and currently operates in more than 100 countries, working in 1400 offices. Except for the standard banking services, Citibank offers credit cards, insurance and investment products, and has developed its online banking to reach 15 million users. The stock symbol of Citibank is “C”.
Citibank UK operates at a local level and is the first UK bank
to introduce online banking in the country. Its innovative approach towards new technologies is reconfirmed by delivering a screen keyboard for online customers that provides greater security against hackers. The bank offers performing tasks over the phone – CitiPhone Banking.
The UK bank delivers a broad range of banking services that are grouped in several sectors:
• Current accounts
• Credit cards
• Savings and investments
The current accounts offer an extensive package of benefits. They are variable and divide into Access Accounts (overdraft of 13.9 % EAR), Plus Accounts (benefits and insurance), US Dollar and Euro Accounts (the transferred sum is converted directly into dollars or Euro), UK Easy Account for Polish Nationals (allows sending money to Citi Handlowy accounts in Poland free of charge), Overdrafts, Citigold Current Accounts (exclusive personal banking and wealth management).
The Credit cards services provide for tracking of the customer’s spending and plan ahead, viewing the diligently organized monthly statements any time, and protection with a modern encryption technology.
The savings and investments sector proposes Reward Saver Issue 2 (1.83 % gross p.a.), Flexible Saver Issue 6 (3.25 % gross p.a.), US Dollar Reward Saver Issue 2 (0.75 % gross p.a. on US dollars), Foreign Currency Deposit Accounts, Fixed Rate Deposits, Investment ISA (potential for bigger returns than traditional savings accounts).
City Bank UK delivers insurance services for its customer’s accounts: insurance targeting credit card holders; insurance for Citygold holders, insurance for current account sustomers; and Life Insurance.
The International banking deals with foreign currency accounts (free cash withdrawals), global transfers (of funds between accounts online), and services for foreign nationals in the United Kingdom (with some benefits for them). The UK Citibank’s most developed banking service remains the option for online banking which brings the company forward in a world of advanced technology.
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