Global banking account

What is a Global Banking Account?

A global banking account, commonly referred to as an offshore bank account, is an account set up with a bank located outside the depositor’s country. The services available with the account are similar to those of a domestic bank account (offered by your local bank), but it usually comes with a wider range of currencies and a larger selection of investment products that can be tailored to individuals' needs.

As an expatriate, setting up and closing bank accounts take up a lot of time and effort in the process of relocation. Citibank International Personal Bank (IPB) Singapore provides you a convenient platform that allows you to choose how and where you would like to bank. Let us show you why many people around the world are choosing to open a Global Banking Account in Singapore.

Global Bank Account
Find out how to setup a Global Bank Account in Singapore

You can move, will your bank be there with you?

Instead of going through the trouble of setting up a new bank account and closing it whenever you relocate, opt for a more flexible banking service that caters to your global presence and lifestyle.

Citibank IPB Singapore offers flexible banking services that cater to international travelers such as yourself. Its global franchise allows you to access your funds from over 20,000 Citibank and shared network ATMs worldwide, while its 24-hour Citiphone service assures that your banking needs are always taken care of.

Will a global banking account give me more convenience?

Banks such as Citibank have simplified internet banking platforms to allow you to conduct most of your banking needs without the hassle of visiting a branch. You can also utilize the Citibank Global Transfer (CGT) to transfer funds to any Citibank account around the world.

Is a global banking account for me?

Global banking accounts provide a wide variety of products and services that cater to the needs of different individuals. If you are an expatriate working in a foreign country, you may enjoy the convenience and savings that a multi-currency account offers. A student studying overseas can also benefit from the cost-efficient international funds transfer.

A global banking account is also suitable for those who wish to allocate a portion of their wealth in regions that have potential for growth and which possess factors that are conducive for wealth preservation and management, such as political stability and strong financial infrastructure.

What are the factors to consider when opening a global banking account?

Without the limits of national borders, there are many factors you should consider when opening a global banking account. Here are the 5 most important factors:

1. Economic and Political Stability

Keeping your wealth in regions of strong growth and political stability may lead to greater investment and business opportunities. Singapore is located at the heart of the fast growing Asian economy.

2. Reputation Of Bank

There are many financial institutions that provide similar wealth management services in the market. It is important that you identify a reliable and reputable bank before you establish an account. Citibank has had almost 200 years of history and is focused on client service excellence and its core banking business. Known as a leading innovator in the financial services industry, you will have access to state-of-the-art technology and client-excellence focused services.

3. Ease Of Account Opening and Management

While face-to-face account opening can be done, Citibank International Personal Bank Singapore is able to open your account remotely, without you having to personally visit the bank or be in the country. The easiest and most convenient way is to apply online for the global account. It is also important to find a bank that has a world-class and highly secure online banking system that enables you to access and manage your account instantly, anywhere in the world.

4. Banking Support

Having a dedicated customer service channel that you can turn to whenever you have banking inquiries or require any assistance is important as well. This can come in the form of a customer service hotline, relationship manager or a branch (affiliates).

5. Exclusive privileges and rewards

Consider if exclusive privileges and rewards are important to you. Some banks offer preferential rewards and benefits for clients who invest more than a certain amount with them. For instance, clients who invest US$200,000 or more with Citibank IPB Singapore enjoy exclusive Citigold privileges such as having a dedicated Relationship Manager who is able to converse in the client’s local language and weekly financial market analysis.

Click here to apply for a bank account in Singapore now.

This article written in collaboration with Citibank International Personal Bank (IPB) Singapore.