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Frequently Asked Questions
How to Use Citibank Online


Direct Debit - Standing Instructions for Credit Card payment :
Q1: What is Direct Debit ?

Payee List :
Q1: What is a Payee List and what is it used for ?


Investment Services :
Q1: Can I open an Investment Account if I do not have a bank account?
Q2: Can I open more than one Investment Account?
Q3: Is Risk Profiling mandatory ?
Q4: What happens if I do not want to follow the recommendations from the Risk Profiling?
Q5: Can I debit an AED bank account to buy a USD denominated Mutual Fund? What will be the exchange rate applicable?
Q6: What will be the exchange rate applicable for Mutual Funds denominated in other Foreign currencies, apart from USD?
Q7: When I am buying Mutual Funds, which funds are marked with an asterisk sign?
Q8: After I have placed a buy order for a Mutual Fund, how long will it take for the units of the fund to be credited to my account?
Q9: : What are the fees applicable for buying Mutual Funds?
Q10: Can I sell Mutual Funds with B-Class shares through Citibank Online?
Q11: What are the charges for selling A-Class share Mutual Funds?
Q12: After I have placed a sell order for a Mutual Fund, how long will it take for the funds (sale proceeds) to be credited to my bank account?
Q13: How can I view the latest NAV for a Mutual Fund that I am holding?
Q14: Can I switch Mutual Funds of one Fund House for that of another Fund House?
Q15: What is the charge for "Switching?''
Q16: After I have placed a switch order, how long will it take for the units of the new Mutual Fund that I have chosen to buy to be credited to my account?
 
Customer Service :
Q1: Tell me about the Messaging Service on Citibank Online.
Q2: Are the rates that I see in Rate Inquiry up-to-date ?
Q3: Can I get my account statement from Citibank Online ?
Q4: In what currencies can I request for a checkbook?
Q5: How will I receive the checkbook that I have requested?


Account Information :

Is the information on Citibank Online up-to-date?
Yes, the available balance on your bank account(s) and available credit limit on your credit card are as of the current day. However, the current balance or amount used on your credit card does not include the pending transactions you made recently.

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How far back can I view my credit card transactions?
You can view activities covered in the last two months' bank statements, and pending transactions which were posted after the last statement date.

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What about my bank accounts? How far back can I view their transaction history?
For Savings and Checking Accounts, you can view transaction activities that you performed in the past 90 days.

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What is the "Download Account Activity" function for?
The function allows you to download account activities to other financial management softwares. Three download file formats (QIF, OFX, and CSV) are available making file importing into applications like Quicken, Money 99, or Excel hassle-free. You can download activities of all accounts available in "Account Activity" except for Time Deposit.

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I am not a Citibank customer, how do I apply for Citibank Internet Banking?
You will need to open a Citibank account or get a Citibank Credit Card. To apply, click here.

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Transfers & Payments :

What are the different types of Transfer & Payments available?
The following are available to you on Citibank Online :
1. Citibank Global Transfers - Instant Foreign Currency Fund Transfers within Citibank worldwide
2. Transfer funds from your Citibank account to any other bank account in the world
3. Transfer funds from your Citibank account to any other bank account in Citibank UAE
4. Issue Demand Drafts in local & foreign currencies
5. Issue Manager Checks in local currency
6. Set up a Standing Order
7. See or Cancel a Standing Order
8. Payment for your credit card(s) from your bank account.
9. Utility bill payment for AADC, AADC, SEWA, DEWA and ETISALAT from your Credit Card and Bank Account.

You can now enjoy preferential rates on Fund Transfers through Citibank Online.

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Will the transfer take place immediately ?
a. Citibank Global Transfers is Instant. The foreign destination account gets credited instantaneously without a time lag.
b. Transfer to another Citibank UAE account will happen immediately.
c. Transfer to another bank account within UAE in local currency will be processed within 1 working day.
d. Transfer to another bank account within UAE in foreign currency will be processed within 2 working days.

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What would the preferential rate be if I make an online transfer ?
1. Citibank Global Transfers - USD 5 per transfer
2. Foreign Currency Wire Transfers :
A fee per transfer will be debited along with the transaction amount, as mentioned below :

Amounts in USD Fee per transfer
USD 1 to 2,499 USD 10
USD 2,500 to 9,999 USD 15
USD 10,000 to 49,999 USD 25
USD 50,000 + 0.10% (Max. USD 100)

3. Local Currency Wire Transfers: A flat fee of AED 50 per transfer will be debited along with the transfer amount.

4. Manager Checks (MC) / Demand Drafts (DD)
Issuance Fees (LCY/FCY) – A fee of 0.10% (minimum USD 10 & maximum USD 50 or equivalent in AED) of the value of the MC/DD will be debited along with the transaction amount.

5. Transfers between Citibank UAE bank accounts are free.

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Will I be able to debit the beneficiary for transfer charges ?
No, this facility is not available online currently. Your account will be debited for any transfers made online.

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Is there a limit for the amount to be transfered ?
For Transfers to another Citibank UAE customer and Local Currency Wire Transfers within UAE there is an outgoing amount limit of AED 100,000 per transfer. For Citibank Global Transfers, the limit is US$ 3000.

For Foreign Currency Wire Transfers exceeding US$ 5,000 per transfer, a call back will be done for confirmation. There is no limit set for Managers Checks or Demand Drafts.

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How will the Managers Check / Demand Draft be sent out ?
While filling up the Managers Check or Demand Draft application online you will be prompted to enter the mailing address. The Managers Check or Demand Draft will be mailed by registered post to the address provided online.

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Will I be able to request for a debit to my foreign currency account while making a transfer in local currency ?
No, currently this is not available. While setting up a local currency transfer, you will be able to view only your local currency accounts.

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Can I collect the Managers Check or Demand Draft personally from the bank ?
Yes, please specify the branch you would like to collect it from while requesting for a Managers Check or Demand Draft online. The same can be collected after two working days.

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Will I be able to request for a foreign currency transfer online over the weekend ?
You can transfer funds over the weekend using 'Citibank Global Transfers'. Click here for more details on this transfer service.

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How can I add my beneficiary accounts ?
You can add 2 types of beneficiaries for fund transfers which are
1. Any Citibank account outside UAE. Click here for a list of valid Citibank Global Transfers destinations.
2. Another Citibank UAE customer and
3. Beneficiary for Local Currency Transfers

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Direct Debit - Standing Instructions for Credit Card payment

What is Direct Debit ?
It is a service with which you can request the bank to make regular payments towards your credit card(s) by debiting your bank account for the minimum amount due. You may also change or cancel the Direct Debit instructions anytime.

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Payee List :

What is a Payee List and what is it used for ?
The Payee List function allows you to set-up your own Payee List for Utility Bill Payments, and Fund Transfers. Once you have updated this list, you do not need to input the payee account number every time you pay your utility bills or you transfer funds. All you need to do is select the payee from this list, and enter the amount you want to pay.

To change your Payee List, click "Add a Payee" or "Delete a Payee" to update the payees on your personalized list. Click here for details on adding and activating a Payee for a Funds Transfer.

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Bill Payment :

What is Bill Payment ?
Bill Payment is a service wherein you can pay for your Utility Bills like Etisalat, Electricity & Water (DEWA, SEWA, AADC & ADDC) bills by debiting your Credit Card or Bank Account.

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Do I need to enter the utility bill account number every time I make a payment?
No. The "Add a New Payee" option is for you to update your own personalized payee list. Every time you want to pay your bills, you only have to select the payee from the list and input the payment amount.

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I have two telephone lines at home, can I set up two payee accounts for ETISALAT ?
Yes, the system allows setting multiple payee accounts.

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Investment Services :
Can I open an Investment Account if I do not have a bank account?
No. An Investment Account can be opened only if you have an existing bank account with Citibank UAE.

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Can I open more than one Investment Account?
No. You may open only one Investment Account.

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Is Risk Profiling mandatory ?
Yes. If you do not want to be profiled, then you will not be permitted to transact for Mutual Funds through Citibank Online - Investment Services.

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What happens if I do not want to follow the recommendations from the Risk Profiling ?
You are always advised to follow the recommendations of the Risk Profiling, as this will help you choose investment products that are in line with your profile, i.e. your attitude towards risk and investing. However, if you choose not to follow the recommendations, then you will be assigned a default risk profile of "Conservative Investor."

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Can I debit an AED bank account to buy a USD denominated Mutual Fund? What will be the exchange rate applicable ?
Yes. The exchange rate applicable for AED / USD conversions for buying Mutual Funds will be the mid-rate (of conversion) for AED / USD.

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What will be the exchange rate applicable for Mutual Funds denominated in other Foreign currencies, apart from USD ?
The exchange rate applicable in all such cases will be the prevailing exchange rate at the time of transaction. The applicable exchange rate is displayed on the screen for your perusal.

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When I am buying Mutual Funds, which funds are marked with an asterisk sign ?
All those Mutual Funds that are consistent with your risk profile are marked with an asterisk sign.

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After I have placed a buy order for a Mutual Fund, how long will it take for the units of the fund to be credited to my account ?
If the order is received before the cut-off time for the particular fund, from Monday to Friday, then the order will be processed on the same day - otherwise, the order will be processed on the next working day. Typically, after the order is processed, it will take about 3 working days for the units to be credited to your account.

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What are the fees applicable for buying Mutual Funds ?
For A-Class shares, there is an up-front fee that is applicable - this fee is displayed to you on screen when you are carrying out the transaction. The amount you wish to invest, plus the fee applicable, is debited from the transaction account chosen by you.

For B-Class shares, there is no up-front fee on purchase. However, such units are subject to a fee on redemption (CDSC), the details of which may be obtained from the relevant fund prospectus.

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Can I sell Mutual Funds with B-Class shares through Citibank Online ?
No. As of now, sell orders for B-Class shares cannot be serviced.

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What are the charges for selling A-Class share Mutual Funds ?
There is no charge for selling A-Class shares.

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After I have placed a sell order for a Mutual Fund, how long will it take for the funds (sale proceeds) to be credited to my bank account ?
If the order is received before the cut-off time for the particular fund, from Monday to Friday, then the order will be processed on the same day - otherwise, the order will be processed on the next working day. Typically, after the order is processed, it will take about 3 working days for the funds to be credited to your bank account.

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How can I view the latest NAV for a Mutual Fund that I am holding?
You have to click on "View your current Mutual Fund Portfolio." All the Mutual Funds in your Investment Account along with the number of units held are displayed on screen - By double clicking on any fund name, you can view the latest updated NAV for the particular fund.

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Can I switch Mutual Funds of one Fund House for that of another Fund House?
No. Switching is possible only between funds belonging to the same Fund House and of the same share class.

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What is the charge for "Switching?"?
As of now, switching is not subject to any charge.

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After I have placed a switch order, how long will it take for the units of the new Mutual Fund that I have chosen to buy to be credited to my account?
If the order is received before the cut-off time for the particular fund, from Monday to Friday, then the order will be processed on the same day - otherwise, the order will be processed on the next working day. Typically, after the order is processed, it will take about 3 working days for the units to be credited to your Investment account.

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Customer Service :

Tell me about the Messaging Service on Citibank Online.
This facility allows you to send and receive secure e-mail communication with Citibank. You can send various queries via Citibank Online. The Customer Service Unit will receive and respond to your messages through IEMS (International Electronic Messaging System).
To send a message just select one of the pre-defined subject headings and type in your message.
When you logon to Citibank Online, a pop-up message will appear (under the Customer Service icon) telling you how many new messages you have received.

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Are the rates that I see in Rate Inquiry up-to-date ?
Yes, they are updated daily.

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Can I get my account statement from Citibank Online ?
You can request statements (for a particular account or consolidated) for the following accounts:
- Checking
- Savings
- Credit Cards
You will receive a copy of your Account Statement by mail.

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In what currencies can I request for a checkbook?
Checkbooks are available in AED, USD and GBP Checking Plus or Current accounts.

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How will I receive the checkbook that I have requested?
You may collect the checkbook after two working days from your branch.

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Information Center :
What is the Information Center?
This feature allows you to browse our Citibank UAE website which has the full range of products and services, while you stay signed on to Citibank Online. When you have finished browsing the Website, to return to Citibank Online simply close your browser.

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Won't I get logged out of Citibank Online if I browse Citibank's web site?
If you have logged on to Citibank Online and have not used the system for more than a few minutes, you will get a reminder message that says "We have not heard from you for awhile". Make sure to acknowledge the message if you wish to stay logged on while you browse the website.

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What are the transactions that I can print in Summary Record?
You can print the transactions you performed in that current session, such as summary of accounts, account balance details, transfers and payments, direct debit, newly added payee information, newly deleted payee.

However, you will not be able to print out the following :
1. Information viewed from Account Activity
2. Account Activity file downloaded
3. Information viewed from "See a Payee"
4. New Messages read
5. Messages sent
6. Saved Messages read
7. Rates viewed

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What is the Refresh button on the Record screen for ?
By clicking the Refresh button, you will see transactions that you have just performed, updated to the Record screen.

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