Travel Smart with Citi Global Wallet

Whether for business or pleasure, the benefits of travelling cannot be overemphasized. From enlightenment to stress-relief, exploring other places has far-reaching effects, making more and more people view it as a necessity rather than a luxury. Now more than ever, with the adverse impact of the pandemic on travel, we’re having to devise creative ways to do so safely and smartly. Expectedly, technology plays a huge role, with various apps and services popping up to digitise the travel experience.

itibank Global Wallet is one of such services, designed to help users enjoy a smooth experience when making payments or withdrawing cash abroad, or when shopping online from foreign websites. So, whether or not you physically travel, with Citibank Global Wallet, you can shop from your favourite stores and pay in a convenient and affordable way.

What is Citibank Global Wallet?

Citibank Global Wallet is a feature available to all Citibank Debit Mastercard holders, which enables users to make payments in foreign currencies. When turned on, users can access up to eight currencies to make purchases overseas at point-of-sale or online and withdraw cash from Citi proprietary ATMs without incurring additional foreign currency conversion fees and administration fees. Say, for example, you visit Spain on holiday and decide to turn on your Citibank Global Wallet feature; Euro payments or cash withdrawals you make with your card while in Spain will be debited directly from your Euro Savings account with Citi, at no additional fees. Whereas, without the feature, payments would be debited from your primary AED account, and currency conversion rates and fees would apply.

Get Started

As an existing Citibank account holder with a Mastercard Debit card, you are eligible to use the Global Wallet feature. All you need to do is go to your Citi Mobile® App and turn on the feature. Once it is turned on, your Citibank Global Wallet automatically links to all your foreign currency accounts. Currently, the eight (8) available foreign currencies are Swiss Franc, Australian Dollar, Canadian Dollar, Euro, Japanese Yen, New Zealand Dollar, Sterling Pound, and US Dollar.

Benefits of Using Citi Global Wallet

Convenience: Citi Global Wallet enables users to streamline payments and gain control over their international spending. You don’t need to spend time trying to figure out currency exchange rates or conversion fees. In addition, if you’re physically abroad, it eliminates the need to queue at banks or currency exchanges to get local currency. It also removes the risks involved with travelling with large amounts of cash.

Easy Set Up: The feature is available to all Citi Debit Mastercard holders and is easily turned on via the Citi Mobile® App. While there is no minimum deposit required to turn on the feature, do make sure you have a sufficient balance in your foreign currency account for the transactions you want to carry out. Once the feature is activated, you do not need to manually switch between currencies, as your debit card will automatically choose the right currency for you by matching the currency of the transaction or the withdrawal against the currency of the account. It’s really that easy!

Savings: Without Citi Global Wallet, foreign currency transactions or withdrawals are debited from your primary AED account at the prevailing exchange rate and are subject to administrative fees. With Citi Global Wallet, however, you not only avoid additional administrative fees, but you can also take advantage of favourable exchange rates. Let’s say you have a trip to the US coming up in a few months, but the current USD exchange rate is good; you can add a USD savings account to your Citi Global Wallet now, in anticipation of your trip. To add an account, simply tap "+" under "Citibank Global Wallet", select a currency, and then a Savings Account of the currency you pick will be created and added to Citibank Global Wallet. You can then exchange the foreign currency amount you need to be added to your account.

Virtual Travel Shopping Experience: Another major benefit of the Citi Global Wallet feature is that it is available to you even if you’re not physically abroad. Once the feature is activated, you can use your Citi Debit Mastercard to shop from your favourite online stores around the world and pay in the local currency of the store — as long as it is one of the eight foreign currencies currently available on Citi Global Wallet. So, even if you’re not yet able to travel, you can still experience the pleasures of retail therapy right from the comfort of your living room!

Citi Global Wallet is a must-have for savvy physical and virtual travellers, so activate it today to experience fee-free shopping and all its other benefits!

To get started or learn more about this feature, please click here.

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Dania Nwizu is a creative entrepreneur based in Lagos, Nigeria. She spends most of her time writing, telling food stories and walking on water.

This article is intended to provide general information about finance and investments and does not replace or should be taken as professional financial advice. The content reflects the view of the author of the article and does not necessarily reflect the views of Citi or its employees, and we do not guarantee the accuracy or completeness of the information presented in the article except information on Citibank N.A. – UAE products referenced herein.
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