US Dollar Savings Account (Gaika Cash Card)

No commission charge when withdrawing US Dollars in US

US Dollar Savings Account (Gaika Cash Card) Information Memorandum (PDF file 37.97KB)
Commission of US Dollar Savings Account (Gaika Cash Card) and other important notices

Use your Gaika Cash Card to withdraw US Dollars cash directly from your US Dollar Savings Account. The US Dollar Savings Account is an exclusive account for the Gaika Cash Card in which the money to be used for various local, expenses in United States, is deposited.

Benefits

You will not have to worry about the fluctuations in the exchange rate because the funds are in US Dollars. When withdrawing funds from a US Dollar Savings Account using a Gaika Cash Card, no exchange transaction will be charged. You can use the Gaika Cash Card in about 400,000 ATMs across the United States.
Please note that an exchange commission (1 Yen per US Dollar) will be charged for depositing into MultiMoney Yen Savings Account.

Features

Important Notes

How to Apply?

Features of US Dollar Savings Account (Gaika Cash Card)

Withdraw US Dollar cash from your US Dollar Savings Account across the United States using your Gaika Cash Card

Stop worrying about exchange rate fluctuation as your funds are available in US Dollar.

No Exchange Commissions

Exchange commissions will not be charged for withdrawals from a US Dollar Savings Account with a Gaika Cash Card.
※ Please note that an exchange commission (1 Yen per US Dollar one way) will be charged for deposit to a US Dollar Savings Account from MultiMoney Yen funds.

At CD/ATMs in the United States

You can use your Gaika Cash Card at approximately 400,000 ATMs across the United States (including Hawaii, Guam, Saipan, etc).

※ A separate US Dollar Savings Account has to be opened for a Gaika Cash Card.

You can use your Gaika Cash Card at CDs/ATMs displaying any of the following logos.

You can use your Gaika Cash Card at CDs/ATMs displaying any of the following logos.


	※ When transferring funds from Yen savings, conversion to US Dollars will be done at the TTS rate prevailing on the date of transfer.

Exclusive account only for US Dollars

This is an exclusive account for depositing US Dollar cash which can be withdrawn in the United States for local use.

Setting the withdrawal limit

You can set the usage limit (withdrawal limit) per day to the minimum to protect yourself from theft of card etc.

More on Limit Control

※ To avail and use your Gaika Cash Card, a US Dollar Savings Account has to be opened and funds have to be deposited to the same. Please note that this is different from US Dollar savings in a MultiMoney Account.

About Gaika Cash Card

You will need to submit a separate application for US Dollar Savings Account to request a Gaika Cash Card. The maximum daily limit for withdrawals is 3000 US Dollars (1000 US Dollars per transaction)

At the time of deposit
Please note that direct transfer from a Yen Savings Account to a US Dollar Savings Account (Gaika Cash Card) is not possible while transferring funds via Citibank Online.

[Step By Step Guide to transfer funds via Citibank Online]

Yen Savings Account -> Yen savings in MultiMoney Account -> (Currency exchange) -> US Dollar Savings Account.

Withdrawal fees
Some operators of overseas CDs/ATMs (including some overseas Citibank CDs/ATMs) charge network fees.
Withdrawal limit
Overseas withdrawal limit is up to 3,000 US Dollars per day (*). If the limit is exceeded, you may not be able to withdraw until the next day. Withdrawal limit per transaction differs according to the type of CD/ATM. The limit set as per “Limit Control” will be the limit for the card usage.
＊ There is a possibility that some banks may have fixed the withdrawal limit per day as below 3,000 US Dollars.

Overseas usage of US Dollar Savings Account is limited to individuals. Sometimes you may be unable to access a CD/ATM due to network connection problems or machine incompatibility

Overseas usage of US Dollar Savings Account is limited to individuals. The use of funds withdrawn overseas by residents of Japan is restricted to "living expenses" as specified by Japan's foreign exchange regulations. They include accommodation, transportation, dining, other expenses related to clothing/food/accommodation, personal necessities and gifts, school tuition and medical expenses.
In some rare instances, you may be unable to withdraw money due to connection problems involving international or local network conditions in Europe or other places. There are also some types of CDs/ATMs in the United States that are incompatible with Japanese Banking Cards. We recommend that you prepare for such eventualities, and for the possibility that there is no CD/ATM in the area you are visiting, by carrying alternative instruments such as a Credit Card or traveler's checks along with your Banking Card. In case of emergency please contact 81-44-540-0741.
Automatic debit from account
There may be times when your account is not debited immediately when you withdraw cash from an overseas ATM due to problems with telecommunications lines. In such cases, your account will be debited once the network has resumed to normal. However, in the mean time if you withdraw in excess of your available funds, we will contact you later about depositing the necessary amount to replenish your account. Problems with telecommunication lines might also result in your account being debited, even when you have not actually withdrawn any cash. If this occurs, contact Citibank immediately. We will investigate the situation and, depending upon the outcome, refund the appropriate amount.

Applicable charges when withdrawing US Dollar overseas from Yen savings

When withdrawing US dollar overseas from your Yen Savings Account, the following charges are applicable - US Dollar TTS rate posted at Citibank Japan on that day + 3%(TTS1.03). Other currencies are first converted to US Dollars at a rate set by the affiliated bank and then converted from US Dollars to Yen at the above Citibank rate. You may incur a network charge depending on the CD/ATM network involved (including Citibank ATMs).

Details of the Alert Service

When you sign up for Alert Service, every time a cash card transaction involving your account is made, a notice is sent to your registered email address. If you have applied for a Gaika Cash Card after registering for the Alert Service, you will need to register for the Alert Service again. Until you register again, notifications regarding Gaika Cash Card transactions will not be sent.

Gaika Cash Card cannot be used within Japan

Your Gaika Cash Card can only be used in the United States (including Hawaii, Guam, and Saipan) The Gaika Cash Card cannot be used at any ATMs in Japan, or other overseas CD / ATMs.

Details regarding this product are available at Citibank Branch service counters. For more details contact a Branch service counter or Citibank Online.

We request you to read this document carefully. Before investing in foreign currency deposits, we recommend that you have a full understanding of the product, the associated risks and commissions applicable as described below.

There is a risk of loss of principal due to exchange rate fluctuations hence the value of Yen that you receive at maturity may be lesser than the amount of Yen you initially deposited.

A foreign currency deposit is one in which the principal is invested in a foreign currency. The interest rate is determined based on the foreign currency deposited, deposit tenor, etc. and interest is paid in the currency of deposit. Although it is a rule that deposit and repayment are to be made in foreign currency, it is possible to make a deposit by converting Yen funds to foreign currency, and repayment can be received by converting foreign currency to Yen.

Though there is no risk of loss of principal in deposited foreign currency, the exchange rate used for currency conversion can fluctuate; causing an exchange loss, and the value of Yen including interest received at maturity may be lesser than the amount initially deposited if the deposit currency has depreciated against the Yen. A loss of principal and interest may also occur when the Yen does not fall against the foreign currency by a margin that exceeds the foreign exchange commission.


	Example: Exchange loss while converting foreign currency back to Yen when Yen has appreciated against the foreign currency. A Foreign Exchange loss occurs when the exchange rate while converting Yen to a foreign currency is lower than at the time when the foreign currency is converted back to Yen (high valued Yen). There is a possibility of loss of principal when converted to Yen. Exchange rate fluctuations greatly influence the transaction returns in foreign currency deposits. Interest will be added to the above given amount.

Foreign exchange commissions for converting "Yen to Foreign currency" & "Foreign currency to Yen", and a US Dollar cash handling charge for deposit/withdrawal of US Dollars cash in Japan will also be applicable.

The rate at which Yen is converted to foreign currency (TTS Rate) and the rate at which foreign currency is converted to Yen (TTB rate) includes a foreign exchange commission prescribed by our bank at the time of exchange. (E.g.: Converting US Dollar to Yen= 1Yen/ converting US Dollar to Yen and back to USD = 2 Yen). As a result, loss of principal and interest may occur not only in case the deposit currency has depreciated against the Yen but also when the Yen strengthens fall against the foreign currency by a margin that exceeds the foreign exchange commission.

Foreign Exchange Commission

Currencies Available

Foreign Exchange Commission
(Per unit of foreign currency)

US Dollar

1 Yen for conversion to or from 1 foreign currency
2 Yen for conversion to and from 1 foreign currency

Other important notices

Foreign exchange commissions shown here are applicable as of October 4, 2009. Please note that these charges are subject to change without prior notice.
Foreign currency time deposits, including those renewed automatically cannot be cancelled before maturity date. However, a Step Up Time Deposit can be cancelled after the expiry of first six months from the date of deposit.

FeaturesImportant NotesHow to Apply?

At Citibank, customers are charged a monthly account maintenance fee of 2,100 Yen (tax included), which is deducted from their account on the first banking day of the following month. However, this fee is waived when any of the below criteria is met:

.	the Total Average Monthly Relationship Balancein foreign currency in the previous month is equivalent to 200,000 Yen or more,
.	the Total Average Monthly Relationship Balancein the previous month is equivalent to 500,000 Yen or more,
.	the customer is paying a housing loan (including Mortgage Power),
.	the average monthly loan balance for Advance Money or card loans in the previous month is 4 Yen or more,
.	the customer is a member of the Citi Platinum Card or Citi Gold Card issued by Citi Card Japan Inc. (Citi Platinum VISA Card, Delta skymiles Citi Platinum VISA Card, Citi Gold Card, Delta skymiles Citi Gold VISA Card, Citi Elite, and Citi Dollar Card) and designates a Citibank account to pay balances on these cards, or
.	a new account is opened for the month in which the account is opened and the two subsequent months.

Foreign currency deposits are not covered by any deposit insurance.

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