1. Conditions
1.1. These Account Specific Terms and Conditions apply to the Citigold Flexible Saver Account (Issue 1). They are additional to and should be read together with the Citibank Account General Terms and Conditions. If there is any inconsistency between them, these Account Specific Terms and Conditions override the Citibank Account General Terms and Conditions to the extent of the inconsistency.
1.2. Account means the Citigold Flexible Saver Account (Issue 1).
1.3. Nominated Account means the UK account in your name held at a bank other than Citibank and notified to us by you through CitiPhone Banking. You may only have one Nominated Account.
1.4. The Account can only be opened by Citigold customers who pay in at least £1,250 a month and have at least one Direct Debit on their current account.
1.5. This account is for new to bank funds only. New to bank funds are defined as funds not previously held with Citibank – new to bank funds can be transferred into the Citigold Flexible Saver within 90 days following an initial receipt by Citibank in your Citigold current account.
2. Direct Debits/standing orders
2.1. You cannot set up:
(i) Direct Debits to make payments either to or from the Account; or
(ii) standing orders to make payments from the Account.
3. Overdrafts
3.1. There is no authorised overdraft facility available from this Account.
4. Interest
4.1. We pay interest on cleared credit balances up to £1,000,000 (one million pounds). No interest is payable on balances that exceed this amount.
4.2. Interest on any cleared credit balance is calculated on a daily basis.
4.3. Interest on any cleared credit balance is compounded monthly and is applied to the Account monthly in arrears.
5. Fixed introductory rate interest
5.1. You will receive a fixed introductory interest rate for the first six months from opening your Account, provided you meet the eligibility criteria in Condition 1.4 above, following which you will receive the variable standard interest rate.
5.2. The fixed introductory interest rate will be stipulated by Citibank.
5.3. You will only receive the variable standard rate of interest if you meet the eligibility criteria in Conditions 1.4 or 1.5 of these Account Specific Terms and Conditions.
6. Transfers
6.1. You may make a transfer from the Account to any other eligible Citibank Account via CitiPhone Banking, Citibank Online or a Citibank Branch in the UK.
6.2. Transfers made via Citibank Online to a third party may only be made to your Nominated Account.
7. Cheque books
7.1. No cheque book is available with this Account.
8. Citibank Card
8.1. If you do not already hold a Citibank Card, you will be issued with a Citibank Card for use on the Account. You will not be able to use the Citibank Card as a Citibank Direct Debit Card or a Citibank ATM Card.
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