Citibank digital banking service to debut in Hong Kong
Lender expects Citi Plus to help double new clients in two years
2 Dec 2020 | The Asset

Citibank has unveiled a digital banking service that covers clients’ deposits, investment, protection and shopping rewards. The service, called Citi Plus, will be officially launched in Hong Kong in the first quarter of 2021, with plans to expand it to other Asia-Pacific markets soon.

Aside from providing one-stop, round-the-clock banking service, Citi Plus also allows clients to obtain customized wealth management information through the bank’s mobile app.

The service features a “Citi Interest Booster”, which allows clients to manage their wealth more easily and earn higher deposit interest rates by accomplishing easy “missions” involving savings, deposit, debit/credit card spending, investment or foreign currency exchange.

Clients can opt for the appropriate "mission" according to their personal needs, and the deposit interest rate will be upgraded upon completion of each “mission", with an annual interest rate up to 1.8% after four "missions" are completed.

Through the Citibank Global Wallet, Citi Plus clients can use their MasterCard debit card to transact overseas or conduct online purchase transactions in 12 currencies without paying foreign currency transaction fees.

“Nowadays, young consumers have endless desires and expectations for digital living, and digital experience on wealth management is becoming part of their daily lives,” Lawrence Lam, consumer business manager at Citibank Hong Kong, notes. “We expect through launching this new service, our new clients will be doubled in the next two years.”