The Preferred Rupee Checking Account will be an account domiciled in India and denominated in Rupees under the aegis of Reserve Bank of India. Through a wide range of convenient and secure channels, Preferred Rupee Checking Account customers will be able to remit money from a foreign country into this account, which can then be operated by their mandate holder in India.
Customer privileges offered with the Citibank Preferred Rupee Checking account are:
-- Competitive Foreign Exchange rates on inward remittances
-- Preferential Service Charges on transactions
-- Superior Service Delivery: Citibank Preferred Rupee Checking Account customers will have access to a dedicated helpline attended directly by a CitiPhone officer with a priority turnaround time for query resolution.
Announcing the launch, N Rajashekaran, Country Business Manager, Global Consumer Group, Citi India, said, The Rupee Checking Account is our flagship product for the Non Resident Indian and we are delighted to complement this very successful offering with the launch of the Preferred Account. Recognizing the subtle yet distinctive differences in the needs of the NRI, the Preferred Rupee Checking Account offers both transactional and lifestyle benefits. We are confident that our assembly of privileges for the Preferred Rupee Checking Account holder will help make his interactions with home more enjoyable and rewarding.
Citibank recently launched Citi Online Remit, a new online money transfer service to India that provides NRIs based in the US the facility to transfer funds to India from any US Checking/Savings account or using a US Credit/Debit Card as a direct transfer into the beneficiarys Bank account or as a draft couriered to the beneficiarys mailing address in India.
Global Indians have trusted Citibank NRI Business to manage their wealth for over two decades. Recognizing the needs of the Non Resident Indian, Citibank offers a number of products such as the Citibank Rupee Checking Account, international ATM and Debit cards and an unparalleled service in draft delivery to beneficiaries in India. The business also provides Wealth Management for the Global Indian. The NRI business has a presence across the globe with eight major regional hubs in USA, Canada, UAE, UK, Australia, Kenya, Singapore, and Bahrain, and manages assets worth over US$ 6 billion for 200,000 customers. Citibank NRI Business has been present in the US since 1985 and today manages the banking and wealth management needs of over 120,000 clients in the country.