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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.
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