March 7, 2013
After winning the #1 position for five years in a row from MasterCard for Best Bank Account of the Year with the revolutionary Citibank Zero Fee Bank Account launched in 2008, Citibank Hungary is again pioneering in launching another innovative product with outstanding benefits in its category, under the brand name of New 0 HUF Bank Account.
Customers meeting the criteria* of this new generation product, including a HUF 2 million total monthly balance requirement, will be able to enjoy unlimited free local currency domestic digital transactions initiated via the Citibank Online internet banking service as well as free domestic purchases with the Citi debit card. Free domestic local currency ATM cash withdrawals from all ATM networks in the country are also part of this proposition. The new product also offers a Savings Plus Account without a monthly fee, granting an on-demand 5 percent time deposit rate, which is higher than the market average.**
Batara Sianturi, Citi Country Officer for Hungary said, “Citibank is pleased to launch this new generation 0 HUF Bank Account to address the new market challenges and bring our customers unmatched benefits. It represents another pioneering product during our nearly 20 years of operation in the consumer market in Hungary. Consistently providing innovative products and services to our customers remains at the core of our business strategy, and we look forward to continuing to pioneer in the future.”
Jon Wiggins, Consumer Business Manager for Hungary also remarked, “We are aligning our consumer products and services, our multiple distribution channels focused on digital banking and our business strategy to attract the assertive, urban, tech savvy mass affluent customers whom we believe can benefit most from our innovations. Through this new generation bank account we are looking to mitigate the increased banking costs of our customers resulting from the introduction of the financial transaction tax, while meeting their lifestyle needs.”
“Citibank facilitates this by promoting the digital banking transactions offering all local currency domestic online banking and purchase transactions with Citibank debit card for free, and as we understand that there is still some need for cash in the society, we are also providing free domestic ATM cash transactions in this proposition. With this, we are bringing back a new generation zero fee bank account to the market”, added Mr. Wiggins.
Customers who do not meet the above detailed account balance criteria for using the free transactions granted with the bank account in any month, will be charged a HUF3,999 (around $20) customer relationship fee in that particular month, while all the free transactions will remain available for them.
Individuals meeting the New 0 HUF Bank Account application criteria may apply for this product at Citibank branches or through the sales representatives.*** For further information, customers may call CitiPhone Banking at 06-40-24-84-24.
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