Citibank Corporate Cards: Everything you need to know

What does the Citibank Corporate Card offer?

Benefits of the Citi Corporate Card:

• Low annual fee
• Travel accident coverage
• Flexible liability

Citibank Corporate Card Fees

The Citi Corporate Card has an annual fee of S$150 (not including GST), which is lower than some of its competitors’.

Earn up to 0.3% cashback on annual spending with the Citi Corporate Card. Every S$1 spent earns you one Citi ThankYou Point. These points can be redeemed for reward vouchers or cash rebates.

ThankYou Points can also be exchanged for flight miles, at a rate of 5 Citi ThankYou Points to 2 Frequent Flyer Miles. On top of this, enjoy free travel accident insurance coverage of up to S$1,000,000 per cardmember.

Choosing the Citi Corporate Card also allows you access in terms of liability flexibility.

Your company can pick from Sole Corporate Liability, Joint & Several Liability, Cardmember Liability and Personal Liability. This allows you to manage card payments more efficiently within the company.

Personal Liability cardmembers can also enjoy contactless payment using the PayWave feature for transactions below S$100.

To set up a Citi Corporate Card, your company’s minimum net worth must be S$50,000+, depending on years of operation.

Take note that the minimum annual income for foreign employees holding the cardmember or personal liability card is S$42,000, versus S$30,000 for Singaporean residents.

Verdict: Should you get the Citi Corporate Card?

The Citi Corporate Card is good for larger businesses looking for a no-frills, globally recognised corporate card. However, smaller businesses might not be a good match for the Citi Corporate Card because of its minimum net worth requirement.

How to apply for the Citi Corporate Card?

Step 1: Visit the Citi Corporate Card website 

Step 2: Be sure to read the benefits, terms and conditions and eligibility & fees diligently 

Step 3: Click on “contact me” 

Step 4: Fill in the necessary details on the contact form, including your contact information and company registration number 

Step 5: Click submit! A Citi Commercial Cards Sales Manager will reach out to you within 3 business days

Citibank corporate card: Are there any promotions?

When you’re a Citibank card member, you get to accumulate ThankYou points. Simply head to the ThankYou website to find a wide range of ways for ThankYou members to redeem their points. Some of the ways include using points to book your next flight, cash rewards, purchase gift cards and shop on participating online partners such as Amazon.

Should you activate your Citibank corporate card for overseas usage?

If you’re planning an upcoming work trip, it’s best to activate your corporate card for overseas use well in advance. Should there be a need for added cash, you also have the option to withdraw money from eligible ATMs. All you need to do is activate the card for overseas use via the Citibank Online website, Citi Mobile app or hotline.

All Citibank Cards for Businesses in Singapore

Here are the three types of Citibank cards businesses established and operating in Singapore can access. 

Citi Purchasing Card

Ideal for a business of any shape or size operating in Singapore, the Citi Purchasing Card helps streamline business expenditures. Its affordable pricing structure and incredible features make it more attractive.  This card's annual fee is S$28.04, offering up to 0.5% cashback and rewards, and travel accident insurance and corporate liability waiver covers can be included. 

However, it doesn't offer any scope for cash advances, and the qualifying requirement is that the business must have a net worth of S$100,000. Unlike the other two options mentioned below, this card doesn't give access to any cash advances. However, the online portal offers consolidated data about the company or business's spending in one place. 

Citi Corporate Card 

The corporate card from Citibank, or Citi corporate card, is one of Singapore's most preferred and commonly used business cards. Some common Citi corporate card benefits include offering cash flow support and exciting cashback rewards on spending that can be used to stay on top of business expenses. It offers global travel deals and other exclusive discounts and membership parks. 

For instance, it offers a 55-day interest-free credit line to enhance the business's cash flow. However, the to qualify for this card, the business should have a net worth S$100,000, and it comes with an annual fee of S$150. This card also offers complimentary travel insurance coverage of up to S$1,000,000 per card. Any bill payments to Citibank can be easily made online through this bank's online portal from anywhere, at any time.  

Citi Business Card 

This is the perfect business card for medium and small enterprises operating in Singapore. An added benefit is that it can be used to better manage business expenses and improve cash flow. An interesting feature of this Citi business credit card is the reward point structure. Earn up to twice the usual ThankYou Citi points on expenses and redeem them for rewards later. 

Foreign transactions can be performed with this card in person or online. Up to 55 days of interest-free credit and travel accident insurance up to S$1,000,000 per card are included to improve the business cash flow. The online portal can access all the account-related statements and expenditures. This can also be used to stay on top of the company's spending. 

Breaking Down The Benefits For All Your Business Needs

By using a Citibank card, your business in Singapore can achieve the following benefits.

• Whenever the Citi card is used to make any purchase, reward points are automatically credited to the member's account. These points can be later redeemed to purchase airline tickets, gifts, vouchers, leisure activities, or hotel stays. Another wonderful thing about these reward points is that they don't have an expiration date and can be redeemed at the cardholder's convenience.
• If a business uses the city credit card for its administrative tasks and business items, including car rentals, dining and travel, or hotel bookings, an attractive discount of up to 55% on participating partners can be obtained. Apart from this, there is also a wonderful 20% discount on dining charges within Singapore at participating outlets.
• The cardholder can make purchases related to business travel over the phone, in person, or even online. Citibank's 24 x 7 customer service help desk ensures the cardholders have the required support even while travelling.
• Cardholders also earn additional benefits in the form of access to spa and golf clubs across Singapore and over 30 participating countries. They also earn reward points on shopping expenditures, which can be redeemed.
• Another wonderful feature of all Citi cards for businesses and companies in Singapore is the ability to instantly obtain a credit line at low interest rates to supplement cash flow requirements.  
• Apart from all these benefits, Citibank also provides certain complimentary company benefits. For instance, it includes travel insurance coverage for any accidents for up to S$1 million, along with a corporate liability where insurance is US$25,000 per cardholder. Along with this, additional insurance against misuse by corporate employees with a coverage of US$25,000 is also provided.

Comparing Citibank Corporate Card with Competitors

There are several corporate cards in the Singapore market, each one provides different benefits, credit lines, rewards and come at a different fee. Here is how the Citibank Corporate Card fares when compared to its competitors in Singapore.  

Frequently Asked Questions

What are the key benefits of the Citi Corporate Card?

The Citi Corporate card in Singapore comes with a host of benefits that range from rewards and cashback, travel accident insurance, 24/7 customer support, global acceptance, upto 55 days of interest free credit, and Citi ThankYou Points. 

Does the Citi Corporate Card come with travel benefits?

Yes, the Citi Corporate Card in Singapore has a lot of travel perks including travel accident insurance. If the entire cost of the ticket is charged to the card, travel accident insurance is up to S$1,000,000 per cardholder.

Can I use a Citi business card for overseas transactions?

The Citi Business Card is a great addition to your overseas business trip. You can make foreign transactions online or swipe the card in person. The additional benefits of up to 55 days of interest-free credit and travel accident insurance up to S$1,000,000 per card makes it best for overseas use. If you run short on cash and need more money, you can withdraw from the authorized ATMs. To have easy access to money while on travel, simply enable the card for overseas use by activating the feature on the Citibank Online website, Citi Mobile app, or hotline.

How do I apply for a Citibank business card in Singapore?

You can apply for a Citibank business card in Singapore by just filling a form and submitting related documents. The process is simple. 
•    Log into the Citi Corporate Card webpage.
•    Check eligibility, terms, and fees.
•    Click on Contact Me.
•    Complete the contact form with your company's registration number and info.
•    Submit the form.
•    A Citi Commercial Cards Sales Manager will respond within three business days.
•    Fill out applications.
•    Approve the application agreement.
•    Check application status.

What happens if I lose my Citi business card?

If you lose you Citi business card, you should notify Citibank right away. You can do so my calling the number on the back of your card or logging into you online banking and report a loss of card. Once you do that, Citibank will promptly block your card, to avoid any further transactions. You will be reissued a fresh card so you can continue using your credit limit. 

Are there any alternative business card options?

If you’re a small business owner, the Citi Business Card might be more suited for you. Separate your business and personal expenditure and earn rewards faster.

As opposed to the Citi Corporate Card, the Citi Business Card has a points rate of S$1 to two Citi ThankYou Points, that means twice the rewards. Similar to the corporate card, you’ll also be eligible for free travel accident insurance.

This card also gives you access to a wide range of suppliers, along with a credit line of S$100,000 and an option to set card limits to monitor spending.

Verdict: Citi Corporate Card vs Citi Business Card

For small business owners, this card might be a better way to track business transactions and expenditure. Do take note that the Citi Business Card has an annual fee of S$150.

Another alternative is... the Aspire Corporate Card.

What is Aspire Corporate Card?

The Aspire Corporate Card is a virtual debit card that focuses on helping tech-savvy small and medium businesses to boost their marketing efforts. Linked to the Aspire Business Account, this card offers up to 1% cashback on online marketing and Saas spend on over 10 different merchants (including Facebook, Google). If you’re constantly running ads on these platforms, Aspire can help you save on your digital growth processes.

What’s more? Deal easily overseas with an ultra-low transparent fee of 0.7%, and no foreign exchange fees.

As an Aspire Corporate Card holder, you’ll also be privy to special deals and discounts. Gain access to over S$50,000 worth of benefits from our partners!

With zero hidden fees, Aspire’s Corporate Card is a great option for smaller businesses.

As a tech-savvy business owner, you’ll know that online marketing is one of the best ways to build brand knowledge. Save on advertising spend with Aspire. Apply today!