What is it?
Local savings accounts are locally held accounts. They are available in either local TTD currency or foreign USD currency denominations.
How does it work?
- You are able to access your funds by means of a withdrawal slip. Deposits can take the form of cash, cheques or transfers in.
- Interest is compounded quarterly and is based on the average monthly balance. (Special conditions apply).
- At the end of each quarter you will receive an account statement detailing your transactions.
- All local currency deposits at Citibank (Trinidad & Tobago) Limited, are insured by the Deposit Insurance Corporation (DIC) up to an aggregate amount of TT$300,000 or foreign exchange equivalent. This is in accordance with the rules and regulation, per entity, established by the DIC unless otherwise specified. DIC does not protect against foreign currency losses.
What are the benefits?
- Service: Assistance from our capable and courteous personnel.
What are the requirements?
In addition to completing our account opening documentation, the following are required for opening any of our chequing or savings accounts:
- Must be a corporate entity.
- A letter requestimg the establishment of accounts, TTD and/ or USD, at Citibank Trinidad and Tobago Limited.
- Certificate of Incorporation/Registration.
- Articles of Incorporation.
- By Laws.
- Notice of Directors.
- At least one Bank reference.
- 3 yrs. audited financials (or projected financials if new entity).
- Copies of picture and signature page of passport, of signatories on the account.
- If a non-resident entity, copy of W-9 BEN document to be completed.