(1888PressRelease)
August 09, 2008 - Citibank will launch Singapore’s first instant savings account opening service through its Citibank Online platform on April 8, once again redefining the service standards for ‘instant’ banking in the industry. With the instant account opening service, customers will receive their account numbers within 60 seconds of submitting their applications online.
For a start, the instant account opening service will be made available to Citibank’s existing Credit Card or Ready Credit customers who wish to open the Step-Up Interest Account. This is a savings and checking account that allows customers to step-up to higher interest rates when balances grow. The instant account opening service will be extended to more products and to new Citibank customers in the near future.
This new, first-of-its-kind service is a continuation of the series of ‘instant’ initiatives introduced by Citibank to provide Singaporeans with greater convenience and accessibility to its world-class products and services. Some of the other ‘instant’ initiatives launched in the past two years include instant issuance of credit cards, instant approval for Ready Credit and instant online approval for home loans.
Ms Vibha Coburn, Head of Citibank Online, said, “Making efficient use of online technology is a key priority for us. This Instant Account Opening service offers a
powerful proposition for our existing customers - we are shifting what is traditionally an over-the-counter transaction to an instantaneous online experience that can be performed literally anywhere and at any time. This is an extension of our efforts to offer more seamless and convenient banking choices to our customers.”
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