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Citibank is Citigroup's subsidiary company. As most people know, Citigroup is one of the most prominent financial services company all over the globe. With regard to holdings, Citibank is said to be the largest in the United States. As records reveal, Citibank is comprised of more than 200 million clients from 100 different nations. More than 1,400 business offices of Citibank are in the United States alone. These offices can be found wide spread mostly in New York City and some parts of Washington D.C., Miami, Chicago, and California.

Aside from its banking offers, Citibank is also an active company player in the community. In New York, for example, Citibank agreed to be the corporate sponsor of the proposed New York Mets Stadium. The prospected opening date of the new stadium they will be calling Citi Field will be sometime in the year 2009.

Citibank in Australia, on the other hand, has this goal of taking part in promoting community and education development in the country. In line with this goal, Citibank in Australia actively participates in programs such as Corporate Community Partnerships, Volunteer Program, and Workplace Giving Program--all directed towards the development of Australian community and its local residents.

Citibank's History

Originally, Citibank was founded as City Bank of New York in 1812, but Citibank reached Australia only in 1985 after being granted a banking license. From Samuel Osgood's ownership, the company was then given to Moses Taylor who later on started the gradual growth of the said company. By year 1865, City Bank of New York became the National City Bank of New York after joining the national banking system implemented in the US then.

It was in year the 1894 when people had recognized the potential of the said fast growing company, which brought about its label as one of the largest banks in the United States during the said year. In the year 1897, Citibank was also able to put up a foreign department--a first among all major U.S. banks. Through the years, the bank had undergone several changes. A lot of its services and products further improved to cope up with the seemingly fast-paced lives of their growing number of clients.

The years 1960's to 1970's made a mark for Citibank. During the 1960's, Citibank tried to dive in the famous credit card business and bought Hilton Hotel's famous Carte Blanche. But due to some circumstances, Citibank was forced to sell it after three years. In 1968, Citibank decided to make a card of their own called "The Everything Card," but the promotion didn't go well for both the bank and their budget, which made them come up with a decision of joining MasterCard instead. They waited until 1977 before pursuing another line of credit cards they can proudly call their own called the Choice Card, but it didn't turn out well either.

As records show, it was also revealed that the famous and convenient way of 24-hours banking transaction through Automated Teller Machines (ATMs) was spearheaded by great minds behind Citibank in 1970's. As they had said, it was the answer to all their customers' call for a convenient way of accessing their accounts anytime of the day and any day of the week, without all the hassles.

Citibank as a Prime Banking Institution

Basically, as a premiere bank, Citibank offers all the standard banking transactions, which include deposits and withdrawals. Since savings is one of the primary goals why people rely on banking, Citibank offers variety of deposit accounts that can definitely suit your taste and lifestyle. Included in these choices are the "Citibank Plus Account," "Online Cash Manager," "Transaction Accounts," "Cash Management Accounts," "Term Deposits," and "Multi-Currency Accounts." All said deposit accounts have reasonable interest rates that can add up to your saving every year. Special features of each account also vary, depending on the target market it actually caters.

For the "Citibank Plus Account," there is an additional feature of Visa Debit Access, which you can easily use during purchases. If you are interested in the option of having a cheque book of your own, then what you need is a “Transaction Account” for a very low account fee. “Term Deposits,” on the other hand, are best for people who have money that they won't be using for a long period of time. It is a great way of investing your money instead of keeping it stored somewhere else. And if what you are holding on to is a foreign currency, it is pretty much recommended that you acquire the “Multi-Currency Accounts” as a form of investment.

Aside from these basic banking transactions, there are other bank products offered by Citibank. Some of these are credit cards, insurances, and investments.

Under their credit cards promo, Citibank offers 6 different types of cards, namely, "BP-Citibank MasterCard," "Citibank Cash Back," "Citibank Clear," "Citibank Platinum," "Citibank Gold," and "Citibank Silver." All vary in features and credit limits. Some of the cards offer rewards in exchange of use (this is applicable only to the Silver Platinum and Gold credit card holders). For purchases that cannot be supported by credit cards, Citibank also offers personal loan, personal credit, and business credit to provide the needed financial support to their clients.

As for an unpredictable future, it is better to be insured than sorry, especially if you have many dependents to support. Citibank offers different types of insurance plans depending on your preference and need. Basically, its insurance offers are composed of life insurance, vehicle insurance, home insurance, travel insurance, land lord insurance, and a lot more. These offers all come in easy payment plans. Indeed, nothing is really certain nowadays, so whatever happens tomorrow or the next day, it's much better to be prepared.

Citibank has become a household name. Tagged with its name is the respectable reputation it had built over a long period of time. And as for money matters, there is no better place to invest your money than the place that has been tried and tested by a lot of people for so many years now.