Citi

As a major player in the U.S. long before it came to Australia, Citi came in with heft and expertise, and its offering of credit cards has always been competitive.

Citi has been a stalwart of U.S. banking since the early 1800s so it was only a question of time before it spread its scope abroad. It now has a presence in more than 100 countries. By 1985 Citi came to Australia and now claims a large share of the banking business here. As an innovator in the business – it was the first bank to install an ATM back in 1960 – Citi has always kept up with the credit card race. Its range of cards now includes options such as attractive rewards, low interest rates, low balance transfer offers, online banking, protection safeguards and promotions exclusive to Citi cardholders.

Citi provides its Australian customers with the full range of banking services including personal accounts, credit cards, savings, term deposits, home loans, insurance, investments, online banking and other financial services. It also provides a comprehensive range of credit cards.

Citibank originated in New York in 1812 with the creation of the City Bank. In 1865 it became part of the U.S. national banking system and was re-branded as National City Bank of New York. By the start of the 20th century, the bank was firmly established as one of America’s largest financial institutions, and had begun to spread its influence to the international banking markets.

At the same time, it was at the forefront of reducing costs and offering something extra to the customer. In 1960, First National City Bank – renamed Citibank 16 years later – installed a Bankograph, the precursor to the now-ubiquitous Automatic Teller Machine, or the ATM. The bank realised that customers wanted to be able to access their account any time of the day, any day of the week, so during the 1970s, along with other banks, created the card technology for use with modern ATMs.

Today, Citibank and parent company Citigroup form one of the world’s major financial players, with 200 million customers in more than 140 countries, and is the third largest bank holding company in the United States.

Citi in Australia

Citibank was one of the first foreign banks to be granted a banking licence in the country. Citibank Australia opened in 1985, and today has its headquarters in Sydney with major offices in Melbourne, Perth, Adelaide and Brisbane. The bank employs approximately 2,000 Australians and, along with Citigroup, had over 1 million customers across the Australian and New Zealand markets by 2012.