Cash Management

Solutions for smooth, safe and effective transactions.

Solutions for smooth, safe and effective transactions

We have a variety of cash management solutions to help you manage your business transactions effectively and efficiently - ranging from the company current account to our online banking systems.

Account & Liquidity Management
Current Account
Description Product Type : Current Account IDR, USD, EUR, GBP, AUD, HKD, SGD, JPY
Current account is bank account that is used to support company’s financial activities such as or cash deposit and withdrawal, payment and collection and investment
Benefit
  • Facilitating company’s payment and collection activities
  • Consolidated reporting
Risk
  • Account can be put in blocked status if there is any request from government legal entities such as tax office, court, Bank Indonesia, etc
  • Account can be closed due to inactive for certain period of time
  • Financial lost due to insolvency
Procedure
  • Complete the sign off an account opening form
  • Provide the required documentation such as deeds of establishment, signature specimen, tax ID/NPWP, copy of passport or ID card/KTP, etc
  • For further queries or complaint on this product clients can contact “Citiservice” or the respective “Relationship Manager
Fees
  • Required minimum balance
  • Monthly fee if below minimum balance
  • Monthly maintenance fee
  • Dormant account fee
Interest Not Available
Pricing Simulation

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Virtual Account
Description Client can provide virtual account number to each of its counterpart where the number is unique to each Client’s counterpart, and will be used by client’s counterpart for the purpose of payment to client
Benefit
  • Reduce manual reconciliation process
  • Eliminate the needs of opening many accounts to reconcile the collection account
Risk
  • Client cannot receive the funds because their counterpart put incorrect virtual account
  • Customer cannot receive the funds due to bank mistakenly mapped to another account
Procedure
  • Client cannot receive the funds because their counterpart put incorrect virtual account
  • Customer cannot receive the funds due to bank mistakenly mapped to another account
  • For further queries or complaint on this product clients can contact “Citiservice” or the respective “Relationship Manager
Fees
  • Set-up fee
  • Monthly maintenance fee
Interest Not Available
Pricing Simulation

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Time Deposit
Description Time Deposit is an investment product where the clients can place their idle or surplus balance for a better yield with a special tenor as mentioned above, Client will gain a higher interest rate.

Online Time Deposit is an investment product where the clients can place their idle or surplus balance for a better yield online. Client has the capability to perform investment module online to create the transaction more via CitiDirect functions and features.
Benefit Interest income from the placement
Risk The deposit placement cannot be terminated before the due date
Procedure
  • Clients have a Citibank account
  • Clients have to sign the letter of instruction to open time deposit
  • For Online Time Deposit client should sign form to setup Online Investment Platform
  • For further queries or complaint on this product clients can contact “Citiservice” or the respective “Relationship Manager
Fees Free
Interest Time deposit interest
Pricing Simulation

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Fund Transfer (FT)
Domestic Fund Transfer
Description IDR Fund transfer using local clearings SKN BI and BI RTGS

Citibank offers IDR fund transfer services through account based solution and flexible delivery options.
Benefit
  • Convenient Online Access through CitiDirect BE:
    o Global views
    o Secured Mobile Authorization
  • Late cut-off time
Risk
  • Market Risk (currency fluctuation, unfavorable market conditions, etc)
  • Regulatory Risk
Procedure
  • Applicable for all Citi Indonesia clients
  • For further queries or complaint on this product clients can contact “Citiservice” or the respective “Relationship Manager
Fees Fund Transfer Fee for SKN BI or BI RTGS
Interest Not Available
Pricing Simulation

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Cross-Border Fund Transfer
Description Citibank offers cross border (non IDR) fund transfer services (CBFT) through account based solution and flexible delivery options via SWIFTNet FIN, CitiDirect BE Online banking.

Citibank CBFT enables client to conveniently request payment in over 135 currencies. Client can utilize this solution without having to have multiple currencies accounts.
Benefit
  • Convenient Online Access through CitiDirect BE:
    o Global views
    o Secured Mobile Authorization
  • Competitive foreign exchange pricing:
  • Client only need one account to do the payment in multi-currency transaction
  • Reduce operational charges and maximize the benefit of excess fund
Risk
  • Market Risk (currency fluctuation, unfavorable market conditions, etc)
  • Regulatory Risk
  • Cross border risk:
    Operation center has release the fund to the beneficiary, however is not able to remit the funds due to regulatory prohibition
Procedure
  • Applicable for all Citi Indonesia clients with active Current Account
  • For further queries or complaint on this product, clients can contact “Citiservice” or the respective “Relationship Manager
Fees
  • Cross Border Fund Transfer Fee (Cable/Telex Fee)
  • Commission

Correspondent bank charges (passed on to clients when applicable)
Interest Not Available
Pricing Simulation

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Cash Services
Utility Billing Management System
Description Utility payment for corporate client’s telephone, mobile, electricity and water expenses.
Benefit
  • On time and real time banking services
  • Convenient registration, reconciliation and reporting
Risk
  • Wrong input of phone or number
  • Insufficient fund in during the debited account
  • Difference billing amount
Procedure
  • Client has a Citibank Corporate account
  • Client has to sign the utility payment agreement
  • For further queries or complaint on this product clients can contact “Citiservice” or the respective “Relationship Manager
Fees Not Available
Interest Not Available
Simulation Please contact your Relationship Manager for further information
Tax Payment Services
Description Citibank Corporate Tax Payment Services allows client to make tax payments (non-import tax) through Citibank (as an authorized tax payment bank for the State Treasury or “Bank Persepsi”) Client is able to make tax payment through tax counters at Citibank corporate branches or through electronic channel (Citi eTax).
Benefit
  • Timely tax payment
  • Tax payment through Citi eTax can reduce tax payment processing cost
  • Tax payment through Citi eTax can simplify tax reconciliation process
  • Tax payment through Citi eTax provides greater control function of client tax payment obligation
  • Additional service such as:Tax Payment Slip (SSP) pickup/delivery
Risk
  • Citibank does not execute tax payment in accordance with client instruction
  • Client does not submit complete tax information or submit invalid tax information
  • Non sufficient fund in the account during tax payment
  • Late submission for tax data and/or tax payment instruction
Procedure
  • As an authorized tax payment bank (“Bank Persepsi”), Citibank serves tax payment for all corporate tax payers.
  • For additional service, client requires to sign the respective service agreements.
  • For further queries or complaint on this product clients can contact “Citiservice” or the respective “Relationship Manager
Fees
  • Free of charge for tax payment service
  • Pickup/delivery service fee as quoted by third party service providers.
Interest Not Available
Simulation Please contact your Relationship Manager for further information
Post Dated Check (PDC) /Speedcollect
Description Citibank will warehouse or safe keep the post dated instruments from the time customer deposits the instruments with Citibank until the maturity of the instruments
Benefit
  • Customer can receive funds in the form of a check from the customers all over the place.
  • Help the clients to save the checks that have not meet the maturity date in the issuing bank
Risk
  • Clients experience delay in receiving funds due to funds are deposited in the incorrect account by bank
  • Check is missing
Procedure
  • Client has a Citibank Corporate account
  • For further queries or complaint on this product clients can contact “Citiservice” or the respective “Relationship Manager
Fees
  • Collection fee
  • Check clearing fee
  • Return charges on deposit items
  • PDC warehouse
Interest Not Available
Pricing Simulation

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Disclaimer:

  • Citibank adalah merek layanan Citigroup Inc. atau Citibank N.A., digunakan dan terdaftar di seluruh dunia.
  • Citibank N.A., Indonesia adalah bank yang telah memiliki izin usaha, terdaftar dan diawasi oleh Otoritas Jasa Keuangan.
  • Produk-produk dan servis diatas juga ditawarkan ke segmen nasabah Institusi lainnya.
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