(A) General Terms and Conditions:
- The Promotion Period is valid from November 1 to November 30, 2020, inclusive of both dates (“Promotion Period”).
- The Offer is not applicable for U.S. persons.
- Unless otherwise specified, the Offer is not eligible for overseas clients (with an overseas correspondence address).
- Each client will only be entitled to the Offer once during the Promotion Period. For joint accounts, the Offer will only be given to the Primary Account Holder.
- Cash Rebate will be credited to an eligible client’s account within 5 months from the date of account upgrade and upon new funds deposit (if applicable).
- Citibank (Hong Kong) Limited and/or Citibank, N.A. (Citibank, N.A. organized under the laws of U.S.A. with limited liability) (the “Bank”) reserves the right to reclaim the gift should the upgraded account be closed / downgraded within 6 months from the date of account upgrade / the designated Average Daily Combined Balance (as defined in clause 9 in this Section A below) falls below the minimum balance requirement. The gift value will be debited from the client’s account at the time of account closure or downgrade, or 1 month from the first day the account balance falls below the required level whichever is earlier.
- If the client closes his / her account(s) within 6 months from the date of account upgrade, an account closure fee of HK$500 (or equivalent) will be charged.
- New Funds are defined as the incremental new-to-bank funds when compared to the Average Daily Combined Balance of the previous month, including cash, checks/cashier’s orders, local inter-bank fund transfers through the FPS network and CHATS (Clearing House Automated Transfer System), telegraphic transfers from other banks, transfer-in Mutual Funds/Bonds/Securities (Hong Kong, US or A shares via Hong Kong Shanghai Connect). Only Mutual Funds / Bonds offered by Citibank (Hong Kong) Limited, Citibank, N.A., Citigroup Inc. will be accepted for transfer-in. The transfer-in process may take at least 2 to 3 months. New Funds exclude renewal or rollover of existing time deposits, transfers of funds from any account within the Bank or any currency converted from Premium Accounts upon maturity.
- The “Average Daily Combined Balance” is calculated based on the sum of your daily balances of deposit, investment and accumulated paid premium of selected insurance products of all your single name account(s) and joint name account(s), divided by the number of calendar days in the month. Selected insurance products mean insurance policy(ies) with savings element or investment-linked insurance. For insurance policy(ies) with savings element, accumulated paid premium means total premium paid minus value of outstanding policy loan. For investment-linked insurance policy(ies), accumulated paid premium means total premium paid minus value of fund sold.
- The Bank reserves the right to amend these Terms and Conditions without prior notice. All matters and disputes will be subject to the final decision of the Bank.
- Unless otherwise specified, the Offer cannot be used in conjunction with any other promotion offers.
- The English version of these Terms and Conditions shall prevail wherever there is a discrepancy between the English and the Chinese versions.
- These terms and conditions shall be governed in accordance with the laws of the Hong Kong SAR and the Clients irrevocably submit to the non-exclusive jurisdiction of the competent court of the Hong Kong SAR.
(B) Terms and Conditions for Citi Priority Upgrade Offer:
- To be eligible for the Citi Priority Upgrade with New Fund Offer below, the client must fulfill all the requirements as set below,
- successfully upgrade from a Citibanking to a Citi Priority account during the Promotion Period; and
- maintain specific Average Daily Combined Balance (refer to the table below) for the first 3 calendar months till the month end from the date of account upgrade(including specific amount of new funds as stated in Section B clause 2(iv) below); and
- deposit specific amount of new funds within 1 calendar month from the date of account upgrade (refer to the table below); and
- agree with the relevant terms and conditions by signing the fund maintenance agreement at branches in person or by submitting the online upgrade form (as the case maybe).
|Citi Priority Upgrade with New Fund Offer
||Cash Rebate Entitled
- Deposit new funds of HK$500,000 or above; and
- Maintain Average Daily Combined Balance of HK$800,000 or above for the first 3 calendar months till the month end from the date of account upgrade
|Account Upgrade Date
||January 2, 2020|
|New Funds Deposit Deadline
||February 1, 2020|
|Average Daily Combined Balance (including new funds) Maintenance Period
||January 2, 2020 to March 31, 2020|
- If the client is an existing client of Citigold Private Client / Citigold / Citi Priority within the past 6 months, or newly opened a Citibanking account within the past 6 months, the client will not be eligible for the Offer.
- Citi Priority is exclusive for clients who maintain the Average Daily Combined Balance of HK$500,000 or above, otherwise the Bank reserve the right to convert the client’s Citi Priority account to Citibanking account. For the fees of individual services, please refer to the latest service fee guide. A monthly service fee of HK$400 will apply to all International Personal Banking Citi Priority clients, irrespective of the clients’ Average Daily Combined Balance.