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2022 Citigold Upgrade Program Terms and Conditions

(A) General Terms and Conditions:

  • The Promotion Period is valid from January 1 to December 31, 2022, inclusive of both dates (“Promotion Period”).
  • The upgrade offer (the “Offer”) is not applicable for U.S. persons and/or CitiBusiness® Accounts.
  • 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.
  • The above product(s) and/or service(s) mentioned in this form are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man and United Kingdom. This form is not intended as a recommendation or an offer or solicitation for the purchase or sale of any of the above product(s) and/or service(s) to such individuals.
  • 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 after 1 month of upgrade when compared to the Average Daily Combined Balance of the previous month end, 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.
    Example:
    Clients upgrade in January 2021
    Formulation of New Funds:
    New Funds = Average Daily Combined Balance of February 28, 2021 minus Average Daily Combined Balance of December 31, 2020
  • 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 Citigold Upgrade Offer:

  • To be eligible for the Citigold Basic Upgrade Offer of HK$800 cash rebate, the client must fulfill all the requirements as set below,
    1. successfully upgrade from a Citi Plus / Citi Priority / Citibanking to a Citigold account during the Promotion Period; and
    2. maintain an Average Daily Combined Balance (as defined in clause 9 of Section A above) in the amount of HK$1,500,000 or above for the first 3 calendar months till the month end from the date of account upgrade; and
    3. participate in an appointment with Relationship Manager at a branch or via channels including but not limited to the following - phone call, “Citi Live Chat” or other available channels as the Bank may provide from time to time; and
    4. sign the fund maintenance agreement in person at a branch or agree with the relevant Terms and Conditions via other channels as stated in clause 1 (iii) of Section B above (as the case maybe).
  • To be eligible for the Citigold Upgrade with New Fund Offer below, the client must fulfill all the requirements as set below,
    1. successfully upgrade from a Citi Plus / Citi Priority / Citibanking to a Citigold account during the Promotion Period; and
    2. maintain specific Average Daily Combined Balance (refer to the table below) for the first 3 calendar months till the end month from the date of account upgrade (including specific amount of new funds as stated in Section B clause 2(iv) below); and
    3. participate in an appointment with Relationship Manager at a branch or via channels including but not limited to the following - phone call, “Citi Live Chat” or other available channels as the Bank may provide from time to time; and
    4. deposit specific amount of new funds within 1 calendar month from the date of account upgrade (refer to the table below); and
    5. sign the fund maintenance agreement in person at a branch or agree with the relevant Terms and Conditions via other channels as stated in clause 2 (iii) of Section B above (as the case maybe).
    Citigold Upgrade with New Funds Offer* Cash Rebate Entitled
    1. Deposit new funds of HK$2,500,000 or above; and
    2. Maintain Average Daily Combined Balance of HK$3,000,000 or above for the first 3 calendar months till the month end from the date of account upgrade
    HK$6,000
    1. Deposit new funds of HK$1,500,000 or above; and
    2. Maintain Average Daily Combined Balance of HK$2,500,000 or above for the first 3 calendar months till the month end from the date of account upgrade
    HK$4,000
    1. Deposit new funds of HK$1,000,000 or above; and
    2. Maintain Average Daily Combined Balance of HK$2,000,000 or above for the first 3 calendar months till the month end from the date of account upgrade
    HK$3,000
    * This Upgrade with New Funds offer has already included HK$800 cash rebate of the Basic Upgrade Offer.
    For example:
    Account Upgrade Date January 2, 2021
    New Funds Deposit Deadline February 1, 2021
    Average Daily Combined Balance (including new funds) Maintenance Period January 2, 2021 to March 31, 2021
  • If the client is an existing client of Citigold Private Client / Citigold within the past 6 months, or newly opened a Citi Plus / Citi Priority / Citibanking account within the past 6 months, the client will not be eligible for the Offer.
  • Citigold is exclusive for clients who maintain the Average Daily Combined Balance of HK$1,500,000 or above, otherwise the Bank reserve the right to convert the client’s Citigold account to a Citi Plus or Citi Priority or Citibanking account. Only the client who has been upgraded by invitation from the Bank via direct mail will be entitled to perpetual service fee waiver so long as maintaining Citigold account with the Bank. While other clients will be entitled to the first 12th month service fee waiver. Thereafter, should the Average Daily Combined Balance fall below HK$1,500,000 for 3 consecutive months, a monthly service fee of HK$300 will be charged (the monthly service fee for Offshore Banking clients is HK$500 or equivalent). For the fees of individual services, please refer to the latest service fee guide.
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  • I agree to provide the above information to Citibank (Hong Kong) Limited, Citibank N.A. and its subsidiaries for service and product promotion.
  • I agree to upgrade to Citigold and I acknowledge that I have read, understood and agreed with the Upgrade Offer Terms and Conditions stated above including the relevant account Average Daily Combined Balance to be maintained.
  • I agree Citibank (Hong Kong) Limited and/ or Citibank, N.A. to contact me to provide with information on the above products in which I am interested or to follow up on the upgrade request upon my acceptance of all relevant terms and conditions stated in this form, and understand that the upgrade request is subject to the Bank’s approval.
  • This form does not constitute any offer or solicitation to buy or sell. Investors should refer to the relevant offering documents for detailed information prior to subscription. Investments are not bank deposits and involve risks, including the possible loss of the principal amount invested. Investors investing in investments denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Investment prices may go down as well as up. Unless specified, these investments 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 governmental or insurance agency.
  • I acknowledge that I have read, understood and agreed with the Policy Statement relating to the Personal Data (Privacy) Ordinance.
  • With respect to this form and any other relevant documents, in case of any discrepancy between the English and Chinese version, the English version shall prevail.
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