Earn high interest for your business, trust or Self Managed Super Fund and enjoy the convenience of access to your funds via ATM, phone and online banking.
Earn stepped interest with a variable introductory rate of 4.85% p.a.1 on the portion of your balance from $10,000 to $1million with interest calculated daily and paid monthly. The first $10,000 does not earn interest.
Designed for business, trusts or Self Managed Super Funds.
$0 monthly fee.
10 free withdrawals each month at more than 3,000 Citibank, Westpac, St.George, Bank of Melbourne and BankSA ATMs around Australia2.
Minimum ongoing balance $10,0003.
Access to your money anytime, anywhere at ATMs, EFTPOS or through phone and online banking4.
Visa Debit and cheque facilities5.
Flexibility
Transaction frequency
Moderate / Low
Minimum opening balance
$0
Minimum ongoing balance
$10,0003
Funds at call
Monthly statement
Interest
Standard Variable Rate (on portion of balance from $10,000 to $1million)
4.85% p.a.1
Interest paid
Monthly
Calculated daily
Stepped Interest
Interest on the Ultimate Business Saver is stepped which means that different rates of interest apply to different portions of your account balance. The portion of your balance between $10,000 and $1million will attract the highest rate of interest.
Balance
Interest rate
$0 - $10,000
0.00%p.a.1
$10,000 - $1million
4.85%p.a.1
$1million+
3.40%p.a1
Access*
ATM/EFTPOS
4
Cheque book access
X5
Australia Post Bank@Post Outlets
Overseas ATM
4
Internet banking
4
Phone banking
4
Written instructions
* All points of access may not be available if method of operation requires more than one to sign.
Product Fees and Charges
Free transactions per month
102
Fee per withdrawal thereafter
$2
Minimum opening balance
$0
Monthly account keeping fee
$0
Minimum ongoing balance
$10,0003
Apply now
Apply for an Ultimate Business Saver account and start saving today.
What you will need:
You will need the following information to apply for a Ultimate Business Saver account:
Proof of age:
You must be over 18 years of age or older.
Personal identification:
All account holders must be able to be identified in Australia at or before account opening. This includes providing two forms of identification, one of which must be photo identification, along with your application at one of our branches or at an Australia Post outlet.
Personal details:
Residential address, contact details (for all account holders if applying for a joint account) and current e-mail address of all account holders.
Business, Trust or Self Managed Super documentation:
We will need to conduct an identification check before your account can be opened. To understand what documentation is required and to arrange an appointment, contact Citiphone on 13 24 84, or visit your local branch.
Tax File Number (TFN) Or valid exemption:
Or valid exemption - you do not have to provide your TFN, but without it we will be required to deduct tax at the top marginal rate.
To open an Ultimate Business Saver simply visit your closest branch or call 1300 559 424. Our staff will help you complete the application form and organise for the account to be opened. Before you arrive, please read below to ensure you bring the necessary paperwork with you.
What you need to apply
Australian Business Number (ABN)
Personal details of all account signatories. All signatories will need to be identified. For examples of identification that can be used visit our How to Apply page
Tax File Number (TFN). (This is optional, however, depending on the account type if it is not supplied Citibank is required to withhold tax at the with top marginal rate)
Originals of relevant documentation to verify your entity, such as:
Certificate of Incorporation (or Commemorative Record of Registration) for a body corporate
Yes. However, it is important to note that if two or more signatories are required to operate the account, then you will not be provided with a Debit Card or Internet Banking access.
From the time we receive your application and identification documents, it can take up to 3 business days to activate your account(s) and up to 7 business days for you to receive your Citi Debit Card, Citi ATM Card, ATM PIN and deposit book (if you have requested one).
Yes. However, only if your account is listed as 'anyone to sign'. If your account is listed as 'more than one to sign' then we cannot issue you a Citi Debit Card. Without a Citi Debit Card you cannot access ATMs and Online Banking.
You can provide a cheque with your account application to ensure that your account is funded and earning a great rate of interest from the time of opening.
Otherwise, you can fund your account by:
Direct Credit from another account
Cash or cheque at any National Australia Bank branch
Mail a cheque and deposit slip to: Banking Services Citigroup Pty Limited GPO Box 40 Sydney NSW 2001
For any enquiries please contact CitiPhone Banking on 13 24 84 (or +61 2 8225 0615 if you are calling from overseas) 24 hours a day, seven days a week. Or alternatively speak to your Relationship Manager.
You can access your account at anytime using ATMs, EFTPOS, Citibank Online Banking or CitiPhone Banking - all are available 24 hours a day, seven days a week.
You can provide a cheque with your account application to ensure that your account is funded and earning a great rate of interest from the time of opening.
Alternatively you can make deposits into your Citibank accounts in any of the following ways:
Online and Phone Banking
Direct Credit from another account
Cash or cheque at any National Australia Bank branch
Mail a cheque and deposit slip to: Banking Services Citigroup Pty Limited GPO Box 40 Sydney NSW 2001
Yes. To set up a regular credit from another bank, you will need to contact your bank directly to set up a standing order. You will need to advise them of your Ultimate Business Saver Account number and the Citibank BSB which is 242-200.
Yes, BPAY® can be used with this account. To find out how to pay bills by BPAY® either sign on to Citibank Online and refer to the 'Transfers and Payments' section, or call CitiPhone Banking on 13 24 84, and follow the voice prompts.
To close your Ultimate Business Saver please complete a letter in writing stating your intention to close the account. You can send this instruction to:
Interest is calculated daily on a stepped basis. This means that different rates of interest apply to different portions of your account balance.
For example if the interest rate is 4.00% p.a. on the portion of your balance from $10,000 - $1,000,000 and your account balance is $550,000, then the interest rates are earned as follows:
The first $10,000 earns 0% p.a. The next $540,000 earns 4.00% p.a.
In case you do not meet the ongoing monthly balance requirement, Citibank reserves the right to close the account and refund the balance in the account to you.
Interest income earned on the account will be sourced in Australia. If you are a resident of Australia in the income year in which the interest is paid or credited, your interest will be included in assessable income for Australian tax purposes.
You are not required to quote your TFN/ABN or an appropriate exemption. However, if you do not, and you are a resident of Australia, Citibank is required to deduct tax at the top marginal rate.
Once you have registered on Citibank Online using your Citi Debit Card number, ATM PIN and account number all you will need to sign on is your username and password.
Simply call CitiPhone Banking on 13 24 84, available 24 hours a day, seven days a week and enter your Citi Debit Card number and your Telephone Personal Identification Number (TPIN) if you have one. Then follow the simple instructions to obtain account balances and recent transactions, transfer funds, plus much more.
Direct debits are an agreement between yourself and the merchant or service provider, therefore you will need to contact the company directly to advise them of your new account details. For details about switching bank accounts refer to our step-by-step guide.
You need to contact your previous financial institution personally to close your account. You should first make sure all your service providers have redirected any direct credits or debits to your new account before you close your old account.
