All banks will tell you that their bank is special, that their services, interest rates, and offers are unique or the best in the market. They’ll coin catch phrases and buzzwords that are meant to excite and give a distinct identity to their bank. But more often than not, it’s akin to barrels of apples. You can look at golden delicious, bright red ones, or whatever, but they’re still all apples. It’s a rare specimen that can really be called different, and here’s where CitiGold priority banking makes the grade.
As Annette Wassmer-Tirol, vice president, relationship marketing head explains, "At CitiGold, the relationship is unique. Here, the first question is: What are your needs? The introductory session is one of needs assessment, whether paper- or computer-based. For example, if you are you a risk-taker, what are your goals for the next five years, the next 10 and how do you get there? We want to understand what kind of an investor you are to begin with. In Manila, it’s traditionally been a product/sell market; but how does that pan out in terms of applications in life? Here, you have "relationship managers," it’s a team, you have access to them and this applies even after banking hours. Because they’re a team, they’re on call 24 hours of the day, toll-free. If you want to check your balance, have payments made, or if you’ve lost your card, it doesn’t matter what your need, they’re ready to attend to it. And this goes beyond the level of just replacing a lost card. Say I’m in Hong Kong, I can enter any Citihank branch, show my card, and when they confirm with my relationship manager, I can even encash checks from my Manila account. With Citibank’s presence in more than 150 countries, you can see how special and convenient CitiGold can be."
"And when you call the hotline, it’s a human voice that answers, not just some machine," Ailene Manzano-Litonjua, CitiGold services area head, avers. ‘’With CitiGold priority banking, the emphasis is to bring back the old feel of what banking is all about in terms of personal relationships, while still taking full advantage of modern technology and the global access of Citibank. So what we have is a person answering who’s empowered to help. So, if you’re in Hong Kong, the one who answers the phone will be ready to tell you exactly where the nearest Citibank branch is, in relation to whether you’re in Kowloon or Hong Kong side."
Customers who open CitiGold relationships are assured of travel protection, as there’s a complimentary Travel Accident and Inconvenience Protection Plan. The package offers a maximum of US$500,000 for travel accidents plus inconvenience coverage from missed flight connections to lost luggage. As Annette relates, "You can’t imagine how many of our clients have come back with lavish praise for the complimentary Plan. It’s just the sort of thing that you take for granted until it comes to use. One client told us about how one member of his family fell sick while in Rome and thanks to the plan, the hospital bills were reimbursed upon their return, plus the Citibank representatives helped in finding the right doctor and hospital. Another client lost his luggage missing his connecting flight. While he did get the luggage within 48 hours, he had to make some clothes purchases while waiting for the luggage to turn up, he presented the bills upon his return and because he was covered we reimbursed those expenses."
There are CitiGold Centers in Makati and Cebu. Separate from the core banking areas, the Centers are exclusive for CitiGold members. Designed by Stephen Leach, the Makati center has Baldemor paintings, conference rooms, antiques, private cubicles, comfort zones of lounge chairs and couches; all assuring each and every customer that he or she will not stand or wait in line. Our clients are also assured of confidentiality, given the Center’s private tellering areas and meeting rooms. Refreshments and even snacks are offered. It’s like they’re making the Center your own place for business, a financial haven that you can retreat to if you desire. Naturally, the bulk of the business and transactions are done over the phone, where your relationship manager ensures that this is done with a high degree of comfort and convenience.
CitiGold members also have access to the Financial Needs Navigator. This was specially designed by Citibank and can be availed of through any of the personal computers found at the Center. It’s a financial planning that can be customized around the client’s own goals, resources and risk profits. Personalities as varied as Inno Sotto and Margarita Fores have made use of the Navigator. For Margarita, for example, the emphasis was for education for her son, followed by her dreams of business expansion. Given the select nature of CitiGold members, the Navigator allowed her to survey the rates for the different schools here and looking towards the future, gave her indicators of what Graduate School in Harvard or other top universities in the United States or Europe would cost years from now. Hence, all of this can be inputed into whatever long-term financial planning would be undertaken.
Ailene is proud to say, "While it’s very common with credit card companies, we’re one of the first banks that offer rewards for depositing and for helping us secure new members. And via a select network of restaurants, hotels and retail outlets we have discounts and perks to offer our members. "
Be forewarned that CitiGold Priority Banking is, in a true sense, a select club. It’s wealth management at a level that’s very focused. And to maintain the standards and plethora of services and features offered, the maintenance costs on the part of the bank necessitate that certain minimums be established. To qualify, one must maintain a minimum balance of US$100,000. With today’s exchange rate, that makes this a five million peso club. Given the individual’s needs and the available cash to "park," not everyone is ready for CitiGold; and there’s always the core-banking business of Citibank that’s ready to meet your needs. There are now more than 10,000 members. It’s a niche service that Citibank is especially proud of, and well they may be, as it’s truly a cut above the rest.