Citibank Payroll Account - Citibank Hong Kong

The promotion offer is valid from April 18 to Jun 30, 2013, inclusive of both dates (”the Promotional Period”).

To enjoy the promotion offer in the Promotional Period, the client must successfully open and use the Step-Up Interest Account for payroll deposits, and be the primary account holder during the Promotional Period and fulfill all other criteria mentioned below (“Eligible Client”).

The Citibank client can enjoy a minimum balance fee waiver provided that the client uses the Step-Up Interest Account for monthly payroll purposes. Service charges for certain products apply. For details, please refer to the latest Service Fees booklet^.

The preferential deposit interest rate of up to 0.8%p.a. will only apply to the Step-Up Interest Account. All deposit rates are for reference only and are not guaranteed. Deposit rates will be subject to change from time to time without prior notice. For details and the terms and conditions of the Step-Up Interest Account, please refer to the Step-Up Interest Account leaflet^.

Conditions for Payroll reward for new Citibank payroll account clients:

The client must make 3 consecutive monthly payroll deposits into the Step-Up Interest Account via autopay or standing instructions or check deposit within 5 months from the account opening month. The monthly salary deposited must be HK$10,000 or above.

For Payroll reward, the amount of credit card spending and air miles will correspond to the salary tiers and payroll deposit methods stated in the table below:

	Monthly Salary	Autopay or Standing Instruction
Citibanking Clients	HK$10,000 or above	HK$400 Credit Card Spending	Or 8,000 Miles
Citibanking Clients	HK$30,000 or above	HK$800 Credit Card Spending	Or 15,000 Miles
Citigold Clients	New funds of HK$500,000 or above and monthly income of HK$30,000 or above	HK$1,500 Credit Card Spending	Or 22,000 Miles

If the client makes a check deposit of HK$10,000 or above, the Citibanking client is eligible to enjoy HK$200 credit card spending; If the client makes a check deposit of HK$30,000 or above, the Citibanking client is eligible to enjoy HK$400 credit card spending.

To be eligible for HK$1,500 credit card spending, new clients must successfully open a Citigold account and a Step-Up Interest account and bring in new funds of HK$500,000 or above and maintain“Average Daily Combined Balance” of HK$500,000 or above in the first year upon account opening. New clients are required to maintain 3 consecutive monthly payrolls of HK$30,000 or above (as per client's declared basic salary (“payroll”)) within 5 months of account opening in the Step-Up Interest Account through autopay or standing instruction and sign the hold fund agreement. New funds exclude transfer of funds within Citibank. Transfer-in Mutual Fund/ Bonds/ Securities will be counted as New Funds. Only Mutual Funds offered by Citibank (Hong Kong) Limited, Citibank, N.A., Citigroup Inc. will be accepted. The transfer-in process will at least take 2 to 3 months.

New clients must maintain “Average Daily Combined Balance” of HK$500,000 or above (with HK$30,000 or above monthly payroll) in the first year upon the date of account opening. Afterwards clients need to maintain the “Average Daily Combined Balance” of HK$1,000,000 or above. Please refer to clause 3 above.

To be eligible for the rewards, the client must open the Payroll Account successfully within the Promotion Period. The client can register for the Asia Miles reward via online banking at www.citibank.com.hk/flynow after the account is opened within one month upon account opening. Overdue registrations will not be eligible for the reward. Client can apply for Asia Miles membership if the client is not a member of Asia Miles. Eligible client who does not register online will be rewarded with credit card spending as stated in Clause 5b above.

Eligible clients must be members of Asia Miles and be able to provide a valid membership number and registration name for his /her Asia Miles account when converting Points to Asia Miles. Citibank will reserve the right to reward credit card spending instead of Asia Miles in case of any incorrect information provided by the Eligible Clients.

Each Eligible client should acknowledge that his / her Asia Miles registration name, Asia Miles membership number and the total quantity of Asia Miles to be credited will be submitted to Asia Miles Limited for the purpose of crediting the miles to his / her Asia Miles account.

Payroll reward is calculated according to the actual monthly payroll deposited. Clients must submit a valid proof of employment as stated in the leaflet. If the actual payroll amount deposited is different to the declared amount (Example: the actual monthly payroll amount after deducting MPF is lower than declared basic salary), the rewards will be determined according to the actual payroll deposited, whichever is lower. The term ‘Payroll deposit’ refers to basic salary only. Any commission, bonus, overtime allowance, double pay, reimbursement, and/or other payments made on top of the basic salary will be excluded from the calculation.

Payroll reward will be credited to each eligible client according to the schedule below:

Account opening date	3 consecutive monthly payroll deposit before	Payroll Rewards will be credited before
April 18 - 30, 2013	August 31, 2013	September 30, 2013
May 1 - 31, 2013	September 30, 2013	October 31, 2013
June 1 - 30, 2013	October 31, 2013	November 30, 2013
July 1 – 31, 2013	November 30, 2013	December 31, 2013

Credit card spending will be paid in terms of Citibank credit card spending. The priority of card type for offering credit card spending will be as follows: Citibank PremierMiles Card, Citibank Rewards card, and Octopus Citibank credit card. The client is not allowed to choose the card type for the credit card spending offer. If clients are not currently a holder of a Citibank Credit Card, they will be required to apply for a Citibank Credit Card and the credit card is subject to approval. The same value of cash rebate will be offered if the client’s card application is rejected or invalid, without further notice. Cash rebates will be credited to client’s Step-Up Interest Account.

Lucky Draw for new Citibank payroll account clients:

Clients who open a Payroll account successfully and have made at least one monthly payroll deposit through autopay or standing instruction or check deposit within the Promotion Period will be automatically entered into the Lucky Draw for the Swire Travel 5 Days 3 Nights Bordeaux package for 2 persons (Stay at Les Sources de Caudalie), including roundtrip economy air tickets from Hong Kong to Paris and 3 consecutive nights stay at Les Sources de Caudalie. The validity and use of any product or service of the lucky draw prizes under the Program shall be subject to the relevant usage instructions and terms and conditions set by Swire Travel Limited.

Each client will be eligible for the lucky draw once only. Two winners will be drawn in the lucky draw.

A redemption letter will be sent to the winners within 8 weeks following the promotion period.

Citibank (Hong Kong) Limited (“the Bank”) makes no representation or warranty with respect to the performance and quality of the services provided by the service provider. The Bank shall not be responsible for any matters relating to the services provided. The service provider is solely responsible for all obligations and liabilities in relation to the services.

Extra Offer:

Citibanking: Each eligible account holders is required to fulfill the below requirements within the first month upon account opening to enjoy HK$150 coupon: (i) enroll banking e-statement; AND (ii) successfully log-on to Citibank online banking; AND (iii) successfully open a stock account . Citibank reserves the right to reclaim the full cash value of the instant gift in the event that the stock account is canceled or e-statement is cancelled in the first year upon account opening. An extra HK$50 instant reward will be offered to Citibanking client who has done the pre-registration online or via hotline.

Citigold: To be eligible for HK$800 cash coupon, new Citigold banking clients are required to successfully set up a Citigold banking and payroll account and fulfill the following requirements during promotion period; i) clients are required to register to use e-statement service of banking account during account opening. For the terms and conditions about the e-statement service, please refer to the branch staff for details. Should there be any dispute, the Bank's decision will be final. ii) clients are required to logon Citigold Online Banking services during account opening. (iii) clients are required to open Stock Accounts (HK & US), Mutual Fund Account and Premium Account during the account opening. Citibank reserves the right to reclaim the full cash value of the instant gift in the event that the stock account is canceled or e-statement, Stock, Mutual Fund Account or Premium Account is cancelled in the first year upon account opening.

The above Welcome Rewards are not applicable to existing banking clients of the Bank or clients who have maintained a banking relationship with the Bank in the past 12 months.

The Bank reserves the right to reclaim the full cash value of the gift in the event that there is no consecutive payroll deposit in the first year following the opening of the Step-Up Interest Account.

10.

Only those Eligible Clients whose relevant accounts are valid and in good standing during the entire promotion and redemption period will be eligible for the rewards. If the account status changes, the Bank reserves the right to terminate the Offers to the Eligible Client, without prior notice.

11.

The offers cannot be used in conjunction with other special promotions, discounts or promotional coupons, nor be transferred or exchanged for cash or other offers.

12.

Availability of the offers is subject to offer or service availability, account status checking and final acceptance by Citibank and the respective merchants' absolute discretion. Photos, product specifications and prices are for reference only. Citibank shall not be responsible for any matters in relation to the related products or services. The respective merchants are solely responsible for all obligations and liabilities relating to such products or services and all auxiliary services.

13.

If a new client closes all of his/her accounts within 6 months from his/her account opening date, an account closure fee of HK$500 (or equivalent) will be charged.

14.

The above banking welcome offers are not applicable to U.S. persons, except the deposit interest rate.

15.

The Bank and the respective merchants reserve the right to amend any of these terms and conditions without prior notice. All matters and disputes will be subject to the final decision of Citibank and the respective merchants.

16.

In the event of discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.

Important Disclaimers:

You should seek advice from your professional advisors as to your particular tax position, including but not limited to estate duty and withholding tax that might arise from investing in overseas products. This material is for information purpose only and does not constitute any offer or solicitation or advice to buy or sell any security. Investments are not bank deposits and are not obligations of, guaranteed or insured by Citibank (Hong Kong) Limited, Citibank, N.A., Citigroup Inc. or any of its affiliates or subsidiaries, or by any local government or insurance agency, and involve risks, including the possible loss of the principal amount invested. Share prices may go down as well as up. Investment products are not available for U.S. persons and might only be applicable to limited jurisdiction. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment.

You may visit Citibank website (www.citibank.com.hk)/any branch or 24-hour Citiphone Hotline at 2860 0333 to obtain the latest copy.