Press Release Citigroup Inc (NYSE symbol: C) February 15, 2006
Euro payments to become yet more advantaged for businesses from February
Clients of Citibank a.s. ranking from mid-sized businesses will significantly save upon making Euro payments. As, beginning by February 1, 2006, for the same advantaged fee, they can transfer amounts that are sizeably higher.
A special, advantaged fee that was formerly applicable to cross-border transactions up to EUR 12,500 will, commencing on February 1, 2006, apply to wire transfers of up to EUR50,000.
‘This limit so increased is bound to help our clients to make sizeable savings in terms of fees because these payments account for a large share of all transactions,’ said Tomáš Hadžega, the sales director of the Commercial Banking Group, which provides services to enterprises with annual turnover of more than CZK 50 million. ‘When transferring higher amounts, clients can save up to several thousand crowns a month.’
The preferential rates will apply to all outgoing payments denominated in Euro provided that the following parameters are met:
contained is the beneficiary’s account number in IBAN format,
valid bank identification code (BIC) is provided,
the charge is a SHARE fee, where the payer covers the sending charges and the beneficiary covers the other charges.
transfers must be made within the territory of countries of the European Economic Area
the maximum amount of a transfer is EUR 50,000.
Through the auspices of Commercial Banking Group, Citibank a.s. has been providing banking services to Czech mid-sized companies since 1999. The Group provides a full range of financial products including working capital financing, investment financing, account services, trade financing, as well as sophisticated foreign exchange products such as derivatives.
For more information, please contact: Markéta Dvořáčková Andrea Machálková
1 Public Affairs Officer Communications Executive Phone: 233 031 041 Citibank a.s. Mobile: +724356358 Phone: 233 062 781, e-mail: [email protected] e-mail: [email protected]
Note for editors Citibank a.s. began operating in the Czech Republic in 1991. It swiftly established a leading market position in corporate banking and gradually expanded its portfolio of products and services to encompass small and medium-sized enterprises. Citibank a.s. entered the retail banking market in the Czech Republic in January 2001, since when it has offered its clients myriad banking products and services such as personal accounts, credit cards, personal loans, investment in unit trusts and the CitiGold private banking service. Further information about Citibank a.s. is available at www.citibank.cz. Citigroup (NYSE: C), the preeminent global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at www.citigroup.com.
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