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Treasury and Trade Solutions picture
Treasury and Trade Solutions

The foundation of Citi's cash management service is the provision of domestic and multicurrency accounts together with account structuring facilities. This is complemented by payment and collection capabilities to assist customers to optimise their cash flow cycle and improve operating efficiencies. Our solutions range from domestic and foreign currency payment capabilities, to collection services including online invoice presentment and payment and cheque collection services.

Our award-winning corporate Internet banking solution, CitiDirect® Online Banking, supports this range of products and services. It offers full access to account information for domestic and foreign currency accounts, the ability to initiate domestic and cross-border payments and is seamlessly supported by a robust security infrastructure. In addition to the transaction initiation capabilities, CitiDirect® provides file import and export functionality and delivers timely reporting information.

New to our Cash Management product inventory is "Citi Online Investments". Available through CitiDirect ®, Online Investments provides you with the ability to view live rates and book NZD term deposits with Citi throughout the working day. Settlement to your current account is instantaneous and you can print out a record of your transaction immediately. You can also access user-friendly reports of all transactions booked online to better manage your cash forecast. For more information on this free, convenient and secure service, please contact your usual Citi representative, or Citiservice New Zealand on 0800248 444.

Current New Zealand Rates

Product Interest Rate % p.a. *
Premium Cash Management Account 3.15
Cash Management Account 1.60
Wholesale Deposit 0.45
Gold Deposit 0.20
Standard Deposit 0.10
Prime Rate 8.25

Interchange Reimbursement Fees

An interchange reimbursement fee is a fee paid by an acquirer (a financial institution that processes card transactions on behalf of a merchant) to an issuer (a financial institution that issues cards to cardholders). With effect from 1st August, Citibank N.A. - New Zealand Branch as an issuer of Visa and MasterCard branded payment cards has set the following interchange reimbursement fees that will apply to New Zealand acquired transactions.

MasterCard

For transactions conducted in New Zealand on Citibank N.A. - New Zealand Branch issued MasterCard branded payment cards:

a) Commercial payment cards

Interchange Category Interchange Rate
Strategic Merchants 0.70%
Utilities 0.80%
Recurring Payments 0.80%
Commercial 2.00%

For further information please refer to MasterCard's Website

Visa

For transactions conducted in New Zealand on Citibank N.A. - New Zealand Branch issued Visa branded payment cards:

a) Commercial payment cards

Interchange Fee Program Interchange Rate
Government & Utilities NZ $0.70
Insurance NZ $1.00
Recurring Payments 0.70%
Strategic Merchant Electronic 0.80%
Strategic Merchant - Card Not Present 0.98%
Electronic - Commercial 2.00%
Standard - Commercial 2.00%

For further information please refer to Visa's Website

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