24-hour Remittance Service between UAE and Pakistan
Dubai-Citibank, a member of Citi, today launched a unique remittance banking service that will make money transfers between the UAE and Pakistan a convenient and hassle free experience.
The Citibank Rupee Current Account and Rupee Savings Ultimate Account relationship comprises two different accounts in Citibank UAE and Citibank Pakistan respectively. This unique Twin Account relationship will cater to the expatriate Pakistani segment (NRPs) who have a banking relationship in UAE but also need to send money to Pakistan.
Account holders can now transfer money through multiple access channels to Pakistan and enjoy special foreign exchange rates. Transfers from the UAE can be made, round-the-clock and instantaneously either by phone through the Dial-A-Remittance service provided by CitiPhone, through ATM Remittances at Citibank's 50 proprietary ATMs and via Citibank Global Transfers, at any Citibank branch or through Citibank Online.
Account holders will also enjoy term deposit rates of up to 5% p.a. at Citibank UAE, while customers in UAE and Pakistan will receive a cheque book and a Citibank Debit Card which can be used to settle payments at outlets in the UAE and worldwide, both free of charge.
Furthermore, the Twin Account relationship opens the door to Citibank's full range of personal banking products and services including auto and personal loans and credit cards.
"One of Citibank's key strengths is our ability to understand the full range of customer financial needs across different markets, thanks to our unrivalled global presence," said Sanjoy Sen, Citibank's Country Business Manager. "The unique Twin Account relationship meets the specific requirements of expatriate Pakistanis for convenient remittance back home as well as addressing their full financial aspirations."
Citi has been in the Middle East and Pakistan for nearly 50 years and currently offers consumer-banking services in the UAE, Bahrain, Egypt and Pakistan. In the UAE alone, Citibank, the consumer banking arm of Citi, has had a presence for the past 43 years, and is expanding its major operations within the country. The bank is currently a major player in the UAE's credit card market and a leading provider of banking, Wealth Management and Consumer credit services.
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About Citi:
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup's filings with the Securities and Exchange Commission.
For further information, kindly contact:
Aisha Ali
Media Relations
Citi
Tel: ++971 4 604 4250
Email: aisha.mohammad.ali@citi.com
© Press Release 2007
