January 07, 2005
Malaysia: Citibank Introduces Interbank Paperless Funds Transfers (GIRO)
1,751 Local Bank Branches Available Nationwide with MEPS Interbank GIRO
Kuala Lumpur – Do Citibank credit card discounts at your favorite places sound very attractive to you? Yes. Does a chance at winning cool prizes entice you? Yes. What about paying bills online? Well yes, but they say that’s possible only if you have a Citibank bank account. So does a Citibank credit card still sound attractive to you? Why yes, you say, except that the thought of having to go in to the city each time you need to pay your bills can be really tiresome.
Well, now paying your bills need not be a major production involving an excursion in to the city center each time. Citibank is now the first and only foreign bank with complete access to the MEPS Interbank GIRO*. The MEPS Interbank GIRO is a paperless funds transfer for any payments between GIRO-enabled banks. You can now pay at any of the 1,751 local bank branches nationwide.
Citibank customers can transfer money of up to RM 100,000 per transaction from their local bank’s current or savings accounts to pay for their Citibank housing loan or credit card. Deposits can also be made into their Citibank accounts from any participating local banks. Conversely, Citibank current or savings account holders can also transfer funds, of up to a maximum of RM 5,000 per day, to their local bank accounts through Citibank Online. Deposits can also be made into their Citibank accounts from any participating local banks. So if you’re presently cutting checks and running around to deliver to various banks, Citibank through MEPs IBG just made life much simpler for you.
“Citibank customers no longer need to have to physically go to any Citibank branch to settle their bills. You can now pay at over 1,751 local banks, and surely one of them is just right around the corner from you. With MEPS Interbank GIRO, you can debit an account from one bank and use the funds to pay your Citibank loans or credit card accounts. Eventually, you can settle all your Citibank bills this way without raising any physical supporting vouchers. You are assured of secure same day settlement between banks. In a few simple words, MEPS IBG is paperless, convenient, time saving, tamper proof, secure, and efficient,” said Allen Tan, Director of Citibank Berhad.
“Citibank is privileged to be granted access to what previously was exclusive to the local banks network. This opening up is part and parcel of the liberalization that the government is implementing in the industry. Ultimately, with the liberalization, it is the consumer that benefits. In our case, as the leading foreign bank in the country, over 1 million Citibank customers already stand to benefit from this service,” added Tan.
Along with the launch of the MEPS Interbank GIRO, Citibank unveiled its latest campaign Surprise! Surprise! with over 40 offers including credit card specials, home loan promotions, investment exclusives, and online privileges. “We’ve always been committed to deliver the best-in-market products. Our activities in this first quarter alone all contribute to making what’s already good even better,” continued Tan.
New Citibanking and CitiGold Wealth Management customers are enjoying extended double interest rates on their Time Deposit. Citibanking and CitiGold members will enjoy 6% per annum on a one month tenure on a maximum of RM100,000 in time deposit.
Citibank customers who want to refinance their home loan or are looking for a home loan can now take advantage of the fantastic ‘Double Zero’ Home Loan offer from Citibank FlexiHome Loan. Customers will enjoy zero cost and zero percent interest rate when they take up the Citibank FlexiHome Loan. The zero percent interest rate is for the first three months.
At the same time, all approved new applicants for Citibank credit cards and existing cardholders will be in the running to own an exclusive Valencia home with a residents-only golf course worth RM 775,000. What’s more, to usher in 2005, a whopping 2,005 prizes are up for grabs! All customers need to do is spend a minimum of RM100 on their card to gain a contest entry, and chances are higher if they use their card 5-days in a week with entry chances going up 10 times. More privileges are in store for new Citibank credit card customers! They can double their contest entries by applying for two Citibank credit cards at once (i.e. the new Citibank Cash Back card and any other Citibank credit card) while enjoying a 5-year fee waiver on both cards.
Not to be left out, of course, are the users of Citibank Online. Users who pay their bills online get a chance to win 10 of the latest model Sony Handycam, perfect for capturing those precious moments at family gatherings this holiday season. Additionally, 24 free Astro packages with 1-year subscription will also be given away. Entries double up with more bills paid using Citibank Online.
“We have a whole range of products – from those that you need as you run the course of your day like credit cards, to products that help you achieve your dreams to owning a home. We acknowledge that your life and ours are intertwined at many points so it makes perfect sense not only to keep improving on our products and services but to keep rewarding you for your loyalty and continued patronage,” concluded Tan.
For Citibank latest promotions, please call (03) 2383 1616 or visit our website at www.citibank.com.my.
