Citibank N.A. New Zealand

Citi has provided financial services in New Zealand since 1974. Banking operations commenced with the local incorporation of Citicorp Forex Ltd and Citicorp New Zealand Ltd in 1982. In July 1987 Citibank, N.A. (New Zealand Branch) was granted a full banking license and was designated a registered bank. In November 1990 Citi became a settlement bank and thus became a direct participant in the New Zealand Clearing System.

Citi has an extensive representation in the New Zealand banking industry, which includes being a member of the New Zealand Bankers’ Association as shareholder and board representation in Payments NZ Limited – New Zealand’s Clearing House.

With a presence in Auckland, Citi provides services to global and local corporations, financial institutions, and government bodies.

Our Business

Citi in New Zealand offers our clients the full range of financial markets services, including foreign exchange, rate derivatives, commodities, equity execution/custody and multi-asset investment products. The NZD is freely floating and offers the liquidity of the World’s 10th most traded currency.

Globally, Citigroup transacts the highest volumes of FX, and New Zealand clients can use this by accessing the bank’s award-winning suite of online FX execution strategies, including our fully internalized algorithms Ripple, and Instant Match, to ensure the most transparent, price-efficient and confidential transaction completion.

For New Zealand’s leading companies, we provide comprehensive financial advisory and capital raising services, treasury and trade solutions including funds transfers to over 130 countries and international supply chain financing solutions. Our foreign exchange services cover every geography and time zone to trade in over 100 currencies.

For New Zealand’s institutional investors, we cover all primary and secondary equity and debt markets, including equity and credit derivatives, secured financing, money market and commercial paper, and commodities.

  • Investment and Corporate Banking
    From strategic financial services to meeting the ongoing financial needs of corporations, institutions and governments, Citi offers the industry’s most extensive range of products and services. Our strategic services include advice on acquisitions, mergers, divestitures, capital markets issuance, structured finance and balance sheet restructuring. Our banking services include loan products, cash management, trade finance and securities services. The result is impartial advice and sustained value for clients.

    Mergers & Acquisitions
    Citi has more than 1,200 corporate finance staff and 350 M&A specialists on five continents involved in the most significant deals in the marketplace. Through strengths that include effective negotiation, product-neutral financing, precise execution and industry expertise, we have been involved in the largest and most complex deals in the marketplace. As a result, we are consistently ranked among the top tier of advisors in regional and global markets.

    Capital Markets
    Whether equity or debt capital markets expertise is required, Citi has the experience and balance sheet to achieve the objectives of corporations throughout the world. We are the largest supplier of corporate finance in the world which, when combined with our local trading expertise, provides clients with access to multiple markets and identification of the most suitable financial solutions. We have highly experienced teams in both equity and debt capital markets as well as in the wholesale banking markets and securitisation.
  • Treasury and Trade Solutions
    The foundation of Citi’s cash management service is the provision of domestic and multicurrency accounts together with account structuring facilities. This is complemented by payment and collection capabilities to assist customers to optimise their cash flow cycle and improve operating efficiencies. Our solutions range from domestic and foreign currency payment capabilities, to collection services including online invoice presentment and payment and cheque collection services.

    Our award-winning corporate Internet banking solution, CitiDirect® Online Banking, supports this range of products and services. It offers full access to account information for domestic and foreign currency accounts, the ability to initiate domestic and cross-border payments and is seamlessly supported by a robust security infrastructure. In addition to the transaction initiation capabilities, CitiDirect® provides file import and export functionality and delivers timely reporting information.

    New to our Cash Management product inventory is “Citi Online Investments”. Available through CitiDirect ®, Online Investments provides you with the ability to view live rates and book NZD term deposits with Citi throughout the working day. Settlement to your current account is instantaneous and you can print out a record of your transaction immediately. You can also access user-friendly reports of all transactions booked online to better manage your cash forecast. For more information on this free, convenient and secure service, please contact your usual Citi representative, or Citiservice New Zealand on contact numbers provided.

    Current New Zealand Rates
    ProductInterest Rate % p.a. *Premium Cash Management Account2.30Institutional Deposit1.60Corporate Deposit0.95Cash Management Account0.15Wholesale Deposit0.00Gold Deposit0.00Standard Deposit0.70Standard Deposit0.10Prime Rate6.75* Interest Rates effective 6th October 2022. Margins may apply.

    Interchange Reimbursement Fees
    An interchange reimbursement fee is a fee paid by an acquirer (a financial institution that processes card transactions on behalf of a merchant) to an issuer (a financial institution that issues cards to cardholders).

    MasterCard
    For information regarding transactions conducted in New Zealand on Citibank N.A. – New Zealand Branch issued MasterCard branded payment cards – please refer to MasterCard’s Website

    Visa
    For information regarding transactions conducted in New Zealand on Citibank N.A. – New Zealand Branch issued Visa branded payment cards – please refer to Visa’s Website
  • Securities and Fund Services
    Our custodial business, Global Securities Services, is the fastest growing domestic custodian in Australia and New Zealand and currently has assets under custody of over NZD$100 billion. Globally, we are the recognised leader in custody of cross-border assets, the provision of global securities, depository receipt services and agency and trust services. We have more than 2,500 customers in this business and over US$6.6 trillion in assets under custody.

    Citi is the only custodian in Asia Pacific capable of offering a single instruction and reporting interface for all markets or a direct interface with individual countries. Our branch network of 48 locations ensures consistent transaction processing worldwide, proprietary control of clearing cycles and reduced risk in all cross-border transactions.

    For global investors, we offer superb execution, global consistency and local market expertise, including custody, securities financing, outsourcing services, performance measurement, derivatives, short-term investment funds, AutoFX, compliance monitoring, trustee services, investment administration, accounting and offshore funds.

    For intermediaries, we support the international securities trading and investment activities of leading institutions through efficient receipt, delivery and safekeeping of securities as well as the related cash and FX functions.

    For issuers looking to raise short-, medium- and long-term debt in all major markets, Agency and Trust provides a full range of support across multiple currencies, regionally and globally. In addition, our Depositary Receipts provides broad pre- and post-DR program services.
  • Customer Feedback and Complaints

    Your satisfaction is very important to us and we’d love to hear about positive experiences you’ve had. Alternatively, if we’ve let you down in some way, we’d also like to know about it so we can do our best to resolve things. Our staff are committed to treating complaints seriously and resolving them as quickly and fairly as possible.

    Citibank N.A., New Zealand Branch is a participating bank in the Banking Ombudsman Scheme: https://bankomb.org.nz/. The Banking Ombudsman Scheme may also be contacted directly in relation to complaints via the following weblink: https://bankomb.org.nz/complaints/new. The Banking Ombudsman Scheme is free of charge and can be contacted on phone 0800 805950.

    Citibank agrees to observe the Code of Banking Practice. You can view the Code of Banking Practice via the following weblink: https://www.nzba.org.nz/banking-information/code-of-banking-practice