Citibank Korea, 100% FX Discount for Customers with Overseas Students

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2008-11-02 09:00

Seoul--(뉴스와이어)--Citibank Korea Inc. (CEO, Ha Yung Ku www.citibank.co.kr) is offering a deep discount on foreign exchange fees for the families who have students studying overseas and experiencing difficulties due to the recent surge in the KRW/USD exchange rates.

The FX Promotion continues until January 30sth , 2009 for new customers who designate Citibank Korea as their FX exchange bank for sending money overseas. For first remittance, the FX discount offered is 100% on up to 10MM Won through one of Citibank’s branches, and 90% discount will be provided for subsequent remittances up to five times until end of 2009 if exchange is done through Internet (Cap 10MM per transaction, 90% discount for Internet transactions will be applied from November 17th).

Local banks normally give 30% to 70% discounts at best given certain conditions are met, and even the most affluent customers do not get FX discount of 100% or 90%, which is why this promotion is sensational.

Citibank Korea’s Marketing Division Head, Jun Hee Soo, remarked, “We are more focused on helping our customers either immigrants or have children studying abroad and under difficult situations due to FX rates volatility rather than our profitability” and added, “There is not a long list of conditions attached to this promotion and customers can benefit from our FX discounts by visiting our branches or through the Internet, and we expect that it will serve as a good opportunity for the families currently going through financial pressure as result of FX rates.”

Also, customers who are converting Korean Won currency to USD, YEN, and EUR for overseas travel or short business trips can get 100% FX discount on up to 500,000 Won by applying Citibank’s International Cash Card (discount applied to one transaction after card issuance) during the promotion period.

Citibank official commented, “During these times of FX rates fluctuations, we believe it would be more beneficial for customers to convert some money at departure and use the International Cash Card overseas by withdrawing cash from domestic account, rather than converting a large sum of money at once through remittance.

For details, please contact 220 Citibank branches around the country, or log into Citibank homepage (www.citibank.co.kr).

About Citibank Korea Inc.

Citibank had opened its first branch in Korea in 1967, and was born newly as Citibank Korea Inc. (CKI) through integration with KorAm Bank in 2004. CKI serves customers at 230 branches (as of June 2008) in Korea by providing the first class financial products and services based on the various products and know-how of Citi with global network including more than 100 years of history and 200 million customers in more than 100 countries. CKI delivers new financial world to the customers through development of innovative financial products and services, encompassing from corporate and investment banking to consumer banking, private banking, and wealth management. Furthermore, Citibank Korea Inc., as a responsible corporate citizen, conducts diverse community activities in the areas of financial education, next generation education, woman, diversity, community, and environment consistently in corporation with sound non-profit organizations.

웹사이트: http://www.citibank.co.kr