- Jun 30, 2002
2,500 is pretty much its entire Australian workforce!
Despite the so-called government guarantees (both in the US and Australia), I am reviewing my banking exposure to Citi. I have far more $$$ invested with Citi than cash outstanding on my Citi Visa.
The bank can still go under...
I don't believe either the US or Australian government guarantees go as far as to guarantee that it will be business as usual at Citi (ie you will be able to get withdraw your money on demand) if the bank fails.
Have seen the news on the web, citi will cut 2500 employees in Australia to save the cost. They may consider starting charging any fees they can put on you.
Slightly OT, for Citi online savings/banking accounts, I figured all banks with an Aussie banking license were covered by the Australian Govt guarantee.
What is the possibility that Citi (domestic Aussie account) deposits are not guaranteed?
Your Deposits with Citibank
As a result of the extraordinary circumstances in global financial markets, the Australian Federal Government has announced it will guarantee all bank deposits held in Australian-owned banks, Australian subsidiaries of foreign-owned banks, building societies and credit unions.
As an Australian subsidiary of a foreign-owned bank, we would like to assure all of our clients that all their deposits held with Citigroup Pty Limited ("Citibank Australia") will also be covered by this protection.
Following further clarification from the Australian Federal Government, after 28 November 2008 customers with deposits greater than $1 million will have the option to take advantage of the Government’s deposit guarantee for a fee of 0.7%. All deposits within Citibank Australia remain guaranteed (free of any fee) until 28 November 2008.
As a result of Citigroup Pty Ltd’s strong credit rating our customers benefit from the lowest fee offered by the Government of 0.7%.
I found the page with the Citi info on the Oz guarantee. Read the bold text for your on amusement.
or even the reality of 450 seats (14F, 72J, 32W, 332Y). Coincidently the same number of seats as in a QF 747-300.Don't they love spin! This nearly as good as the marketing spin from Qantas about giving you more space on the A380 by configuring it for 555 passengers - compared to the original (seriously downsized) proposal of 580.
or even the reality of 450 seats (14F, 72J, 32W, 332Y). Coincidently the same number of seats as in a QF 747-300.
FWIW I phoned Citibank today asking for a promotion code for this or a similar offer...no dice!
May I ask what kind is this code for?
You certainly may. This thread was for a Citibank Gold no annual fee for life. To utilise this offer, a promotion code was required (embedded in the URLs earlier in this thread). I asked Citibank for a promotion code so that I could plug it into the 'cardoffer' page on the Citibank site. Sorry I cannot post a URL as I have made less than ten posts. Hope this helps!