Citibank Launching “FX Auto Buy&Sell” Automatic Foreign Currency Trading Account
With ‘FX Auto Buy&Sell’ deposit, customer will set an FX rate range he or she wishes to conduct trading at. The closing FX rate will be observed on daily basis, and once the FX rate falls into the range set by the customer, the set amount of foreign currency will be sold or bought automatically. Such trading can be made in 8 major currencies including US dollars, Yen, Euro, Canadian dollars, Australian dollars, English Pounds, Swiss Franc and New Zealand dollar, and up to 40M US dollars a day.
Customers can set their foreign currency trading in many ways including “Designated period type”, which refers to having automatic trading made during a set period of time when the FX rate meets the criteria set by the customer, “Monthly designation type” which refers to choosing a date of each month such as salary day or expense payment date, or “Designated day type” which refers to designating a certain day.
For ‘FX Auto Buy&Sell’ trading, won currency deposit and foreign currency deposit are required, and once the account is opened, the customer can easily set the trading at branches or through the Internet. Moreover, if the foreign currency trading is accomplished, it is informed to the customer, making it even more convenient.
A Citibank insider explains “In days like these days when the FX rate fluctuation is extreme, it is not easy for a customer who needs foreign currency to decide when to buy and when to transfer. Most of the times, customers need to buy a lump sum of foreign currency even it is difficult to prospect the FX rate. However, the rates have been going up and down by 10~20 won recently, which may result in loss of 100M won when exchanging 10M dollars”. He added “To minimize the FX risk, it is essential to purchase foreign currency that you need in smaller amounts, so by using products like ‘FX Auto Buy&Sell’, customers can save foreign currencies in advance, and by setting the rate for selling in advance, customers can also exchange back to won, so this service is very useful to customers who need foreign currency like travelers, overseas students or import and export business providers”.
To celebrate the launch of ‘FX Auto Buy&Sell’ deposit, CKI will apply preferential rate of 70% to all transactions made through ‘FX Auto Buy&Sell’ until August 31, 2009.
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 231 branches (as of end of March, 2009) 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
연락처
Shin, Hyeon Jeong
Communication Dept.
Citibank Korea Inc.
82-2-3455-2330
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2010년 8월 15일 10:43
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