-CITIBANK: Citibank banks in cyberspace.

M2 PRESSWIRE-21 October 1998-CITIBANK: Citibank banks in cyberspace (C)1994-98 M2 COMMUNICATIONS LTD

RDATE:230998

-- New Internet Banking Service offers on-line bill payment, zero transaction charges and a year's free Internet access

Citibank has today launched Citibank Internet Banking which uses the Internet to give customers direct access to a complete range of bank facilities with no set-up charges, zero transaction charges and a year's free Internet access.

Customers can use the service from most desktops or laptops linked to the net (whether at home, in the office or a cybercafe) to access their account at www.citibank.co.uk and can pay bills online, set up standing orders or instantly transfer funds to other UK bank accounts or to Citibank accounts in six continental European countries - Belgium, France, Germany, Greece, Luxembourg and Spain.

The service includes foreign currency accounts and new functionality (such as Euro accounts from January 1999) will be added automatically via the site.

Members of the public can call 0800 008100 for further information or visit www.citibank.co.uk for a demo and comprehensive user information. Applications can be made over the telephone or via our web site.

"13% of the UK adult population (5.9 million Britons) have surfed the Web, more than double the number of visitors in 1996(1). Just like the telephone, this trend tells us that the Internet is becoming an integral part of daily life in the UK. As a bank structured to offer direct relationships with its customers, Citibank is using the web to offer customers a new choice in how they do their banking. Apart from being an extremely easy and convenient way for customers to access their accounts, our service is totally integrated enabling customers to use it in conjunction with other mechanisms, tow and when they wish", said Alyson West, Marketing Controller, Citibank International plc.

"Citibank in the UK doesn't have the legacy of an established branch system. Direct banking is what we do, and the Internet fits right into that frame. The service we have introduced today is not a pilot; it is up and running, available to all our customers and underlines our commitment to become the leading virtual bank in the UK. We believe the Internet package we are offering is unrivalled. It is free and flexible, and we're even helping customers get on line by offering 12 months' free unlimited Internet access through Virgin Net," she added.

Customers can use PC computers (running MS Windows 95/98/NT) or Macintosh (running Mac OS 8 or higher). PC requires a Pentium processor or greater; Macintosh: Mac PowerPC. For either memory of 16MB and above is recommended with available hard disk space of 20 MB or greater. The service requires an Internet browser that supports strong encryption capabilities, such as Netscape Navigator, Netscape Communicator and Microsoft Explorer 4.00 and above. These can be easily downloaded from the web if customers do not already have them.

Citibank's Internet service was developed by Citibank's Advanced Development Group, and is fully integrated with all the electronic delivery solutions used by Citibank operations throughout the world. Whether customers access their accounts at a Citibank branch, via CitiPhone (worldwide freephone banking), Citibank cashpoints, or now via Internet banking, the transaction goes into one system which allows the different access mechanisms to communicate with each other in real time. The Advanced Development Group based in Silicon Valley, err ploys 500 professionals focussed on the development and integration of customer focussed electronic delivery solutions.

Key features of Citibank's new Internet Banking Service:

* Free: No set up costs or monthly fee; 12 months' free Internet access available; free bill payments & transfers; 4.75% interest* paid on current account balances (*interest rate correct on 19th September 98).

* Account Management: Real time account information; view balance summary, account details, and account activity; print balance summary and activities; download account information into personal financial management packages including Quicken, Microsoft Money, or Excel.

* Bill Payments & Money Transfers: Transfer money between a customer's UK Citibank Accounts, to another bank in the UK, or to another Citibank customer; transfer money to another Citibank customer in Europe; pay bills online and schedule or cancel bill payments; set up recurring standing orders; view and cancel standing orders; view or delete payee list.

* Security: 128-bit encryption (the most up to date strong encryption available); automatic time-out after 5 minutes of no activity; Personal Direct Access Identification Number (DAIN).

Technical details:

User Specification: To access Citibank's Internet banking service, customers will need; a Citibank Current Account, a PIN number issued by Citibank, access to a Macintosh or PC computer; access to the Internet; and an Internet browser that supports strong encryption capabilities, such as Netscape Navigator, Netscape Communicator and Microsoft Explorer 4.00 and above.

Requirements for Macintosh Users: Operating System: Mac OS 8 or higher; Processor: Mac PowerPC; optimal screen resolution 800 x 600; memory: 16 MB and above recommended; available hard disk space: 20 MB or greater.

Requirements for PC Users: Operating System. MS Windows 95/98/NT; Processor: Pentium processor or greater; optimal screen resolution 800 x 600; memory: 16 MB and above recommended; available hard disk space: 20 MB or greater.

Browser Specification: The service requires an Internet browser that supports strong encryption capabilities, such as Netscape Navigator, Netscape Communicator and Microsoft Explorer 4.00 and above. These can be easily downloaded from the web if customers do not already have them. Account Criteria: Citibank Accounts are available to customers with a household income of GBP 30,000 or more. To take advantage of the 12 months' free Internet access through Virgin Net (worth GBP 143.88) customers must deposit GBP 2,000 in their account for one month.

NOTE TO EDITORS:

Worldwide: Citibank currently provides consumer banking services through 1,200 branches to 20 million accounts in over 41 countries. It is the world's largest issuer of credit cards, with 80m cards currently in issue in over 40 countries. Citibank's Advanced Development Division, based in Silicon Valley employs 500 people devoted to developing electronic delivery solutions for Citibank operations throughout the world.

In the UK: Since Citibank launched its Consumer Banking Service in the UK in 1995 it has added to its range of products and services to offer one of the most sophisticated and easily accessible banking operations in the UK. Citibank account holders can now undertake their banking from anywhere in the world, using a wide range of remote access facilities, for instance free worldwide telephone banking and Internet banking. In addition, Citibank has a highly-commended website, and its increasing use of the net for marketing and customer service purposes are a precursor to Citibank becoming the first truly virtual bank.

The banking service is characterised by Citibank's ability to offer customers easy access to, and management of, their accounts from anywhere in the world. Customers have access to over 350,000 cash machines worldwide, and 18,000 cash machines in the UK. Counter transactions can be made at any one of Citibank's three London branches.

Services available to Citibank clients include: * GBP and $ interest bearing Current Accounts * GBP and $ Gold Visa Credit Cards * Citicard - cash, cheque guarantee and debit card rolled into one * Free access to 18,000 UK cashpoints - with access to 350,000 worldwide * 24 hour CitiPhone Banking - FREE call from anywhere in the world * US Dollar Account - with cheque clearance through New York * 15 interest bearing Foreign Currency Savings Accounts with instant access * Unique Citicard Banking Centers - international network of secure lobby facilities open 24 hours a day, 365 days a year * Citibank Personal Reserve - a flexible, "total credit line" facility * Free internal electronic transfer system enabling Citibank customers to transfer funds instantly between their accounts held in France, Belgium, Greece, Germany, Luxembourg, Spain and Britain. * CitiStatement - one consolidated statement of all a client's accounts * Saving accounts, TESSAs, Time Deposits

Deposits are made with Citibank International plc.

Citibank International plc is a member of the Deposit Protection Scheme established under the Banking Act 1987 (as amended). Payments under the scheme are limited to 90% of a depositor's total deposits subject to a maximum payment to any one depositor of GBP 18,000 (or ECU 20,000 if greater). Most deposits denominated in Sterling and other European Economic Area currencies and ECU made with offices of the Bank within the European Economic Area are covered. Further details of the Scheme are available on request.

(1) Quoted from the internetTrak survey that was commissioned by Ziff-Davis, KPMG and Yahoo! and conducted by NOP in the first quarter of 1998.

CONTACT: Alyson West, Marketing Controller, Citibank International plc Tel: +44 (0)171 500 3225 e-mail: alyson.west@citibank.com Ruth Weighill/David Morton/Denise Lyttle, Polhill Communications Tel: +44 (0)171 369 9333 e-mail: r_weighill@polhill.com e-mail: d_morton@polhill.com e-mail: d_lyttle@polhill.com

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