Citibank Enhances Debit Card Benefits for Top-Tier Clients and is First Bank in Singapore to Partner Mastercard in Tree Restoration Initiative

Bank launches Citigold Private Client World Elite Debit Mastercard and joins Mastercard Priceless Planet Coalition; commits to restoring a tree with every S$1,000 spent on card

SINGAPORE, Jan. 24, 2024 /PRNewswire/ -- Citibank Singapore is offering its high-net-worth clients enhanced debit card privileges with the new Citigold Private Client (CPC) World Elite Debit Mastercard, becoming among the first Citi markets globally to do so.

Citibank's new World Elite debit card will see its CPC clients, those with a minimum AUM of S$1.5 million, enjoying superior travel, services and lifestyle privileges over the existing World Debit Mastercard platform. Examples of enhanced privileges include higher tier membership with internationally renowned hotels and better travel insurance coverage (please refer to the appendix below for more details). 

Citibank marked this launch by being the first bank in Singapore to join the Mastercard Priceless Planet Coalition, which unites the efforts of consumers, financial institutions and merchants to fight climate change through the restoration of 100 million trees.

This initiative will see Citibank pledging to restore at least 1,000 trees monthly over two years in partnership with Mastercard and environmental non-profit groups Conservation International and World Resources Institute. From March 1, Citibank will restore one tree on the CPC client's behalf with every S$1,000 spent on their debit card.

Brendan Carney, Citibank Singapore Chief Executive Officer, said: "Our CPC clients are global citizens with interests and responsibilities that transcend geographical borders, and we designed these card enhancements to provide them with even more value as they work, play, and travel globally. We know that sustainability matters to our clients in this top-tier segment, and that's why we joined the Mastercard Priceless Planet Coalition in tandem with this launch."

Deborah Heng, Country Manager, Singapore, Mastercard, said: "Our latest partnership with Citibank reflects a shared commitment to environmental stewardship, setting a new benchmark for premium financial experiences with a sustainable ethos — a crucial step towards a thriving future for generations to come. At the same time, we are pleased that CPC World Elite Debit Mastercard cardholders can also look forward to enhanced rewards & truly priceless experiences."

This latest Citibank initiative follows the opening of two new wealth centres in Parkway Parade and One Holland Village to better serve clients by the end of the first quarter this year.

The bank expects to roll out further initiatives across 2024 to expand its product offerings, benefits and solutions for its CPC clients, such as alternative investment solutions in the private credit space.

About Citi: 

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | Twitter: @Citi |

LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi 

APPENDIX

Enhanced Benefits to CPC clients with CPC World Elite Debit Mastercard*

Complimentary Access

• 4x complimentary green fees at 74 golf courses worldwide or golf lessons at one golf academy in Singapore
• 2x complimentary airport lounge access in 2024 with Mastercard Travel Pass (MTP) provided by DragonPass
• Concierge service via Mastercard Travel & Lifestyle Services

Enhanced Benefits

*Terms and conditions apply.

Mastercard Priceless Planet Coalition

• Citi is a founding member of the Mastercard Priceless Planet Coalition in 2020. The coalition unites the efforts of consumers, financial institutions and merchants to fight climate change through the restoration of 100 million trees globally.
• Together with Conservation International and World Resources Institute, the Priceless Planet Coalition is not simply planting trees, but regrowing forests in places that science tells us will have the greatest impact on climate, community and biodiversity.
• Mastercard is developing a global portfolio of high-quality restoration projects that currently includes 20 reforestation projects across six continents, helping to remove carbon dioxide from the atmosphere, tackle biodiversity loss and environmental pollution, and empower local communities.

Citigold Private Client (CPC)

• At least S$1.5 million of AUM with Citibank
• CPC clients are supported by Senior Relationship Managers who have at least 10 years of experience and have been trained through the Citi-Wharton Global Wealth Institute.
• They are also backed by a team of senior specialists including Portfolio Counsellors, Treasury Specialists, Insurance Specialists and Mortgage Advisors to attend to clients' banking and wealth needs.
• Clients are also given access to proprietary tools such as Portfolio 360 to provide them with a holistic multi asset view of their portfolio.  This tool combines the expertise of Citi's key proprietary tools (portfolio risk evaluator bond advisory, and equity analysis) at a single touchpoint, giving clients the convenience and confidence to make well-informed wealth management decisions.
• Clients also gain access to world-class insights backed by over 350 research analysts worldwide, comprehensive market research reports and an enhanced suite of wealth product offerings across investments, insurance and mortgage.