SUBSCRIBERS

Update: Citi moves goalposts on retail banking monthly fees

Total relationship balance required for mass retail segment triples to $15k, but higher-end clients enjoy lower TRB

Published Sun, Jan 22, 2017 · 09:50 PM

Singapore

CITIBANK Singapore has tripled the amount of money that its mass retail clients have to tie to their accounts to avoid incurring a monthly fee, sharpening its focus on the "emerging affluent" market.

The US bank told customers that it has standardised its total relationship balance (TRB) to S$15,000 for all its banking clients. This is up from S$5,000 for the mass retail segment, or what Citi calls Citibanking.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes