Trade Services
IMPORTS
* LC Opening Commission* LC Amendments Commission* Bills under LC’s* Endorsement/Certification* Import Payment Retirement Service Charges* Imports on Consignment (Contract) Basis* Import Document Handling* Confirmation Commission* LC Cancellation Charges* Credit Report Charges
EXPORTS
* LC Advising/Amendment/Confirmation* Export LC Transfer/Reimbursement* Restricted Letter of credit* Collection* NOC Issued/DOCS Transferred* Freight-Subsidy Processing* Handling of Other Subsidy Applications* Credit Report Charges
INLAND BILLS (EXPORT)
GUARANTEES
* Shipping Guarantees* Other Guarantees* Back to Back* Legal Charges* Expired Guarantee* Service Charges for Claims by Beneficiary
Contents Citibank N.A. Pakistan
Cash Services
* Remittances (FCY)* Remittances (LCY)* Standing Instructions* Mannually Initiated Funds Transfer* Cheque Purchase* Clearing* Collection* Prepaid Card Services* Commercial Card Services* Miscellaneous* Electronic Disbursement* Easy Pay Corporate Services* Third Party Payment For Worldlink Customer/
other Bank* Time Deposit* Duplicate Statement of account* Cheque Book Issuance* IPS – Investor Portfolio Securities Accounting
Other Services* Term Finance Certificate* Sale and Purchase of Securities
& safe custody* Securities Services
Miscellaneous:* Stock Inspection of Customers* Market/Trade Checking Done* Cash Access via 3rd Party* Miscellaneous Certificates/Letters
Contents Citibank N.A. Pakistan
Contents
* Retrieval of Documents* Foot Note (Glossary)* Local Mail (Ordinary) within Pakistan* Foreign Mail (Ordinary) Through Post Office* International Registered Mail* Product Wise Local/Foreign/Postal Charges* International Courier Service* Courier Service within Pakistan* Note:* List of Branches:
Citibank N.A. Pakistan
ImportsA. LC OPENING COMMISSION
Trade Services
B. LC AMENDMENTS COMMISSIONRs. 1500/- per amendmentfor amendments otherthan increase in amountor extension in period ofshipment, if amendmentinvolves: increase/extension then chargesas per ‘A’
C. BILLS UNDER LC’SBill under the above LCs to Min. Rs. 1,500/- per billbe charged at the time ofretirement of bill.
a) Documents returned unpaidunder letters of credit Rs. 500/-
Note:In the case of usance import bills, bank will chargecommission upto the rate of 0.20% per month withminimum Rs. 500/- for the period beyond the validity ofthe letter of credit. In other words, if the usance is coveredby a letter of credit period for which commission as per(A) above has already been recovered no extracommission upto the rate of 0.20% will be charged.
D. ENDORSEMENT/CERTIFICATIONAirway bill endorsement Rs. 3000/- Flat
E. IMPORT PAYMENTRETIREMENT SERVICECHARGES (FCY Bills) 0.10% on Rupee value
Min. Rs. 1500/-
1
0.50% for first quarter or part thereof;0.25% for each subsequent quarter or part thereof;Min. Rs. 2500/-
Citibank N.A. Pakistan
Trade Services
F. IMPORTS ONCONSIGNMENT (CONTRACT)BASIS
a) Contract RegistrationCommission 0.25% Flat Min. Rs. 1,500/-
b) Contract Amendment Rs. 1500/- per amendmentCommission for amendment other than
increase in amount if amendment involve increase then chargesas per ‘a’
c) Document received Rs. 1500/- per documentagainst contract
G. IMPORT DOCUMENT HANDLINGAgainst FCY Demand Draft/TT 0.1% without LC / Contract. Min Rs. 3,000/-
H. CONFIRMATION : Case to case basisCOMMISSION
I. LC CANCELLATION : Rs. 1,500/- Flat plus actual CHARGES telex charges
J. CREDIT REPORTCHARGES : Actual cost plus
Rs. 1,000/-handling charges
Note:a) Collecting agent’s charges, will be extra if the
collecting bank is another bank.b) Telex/Phone Call charges will be extra, if status of
the instrument is asked for by telex/Phone.
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Citibank N.A. Pakistan
ExportsA. LC ADVISING/AMENDMENT/CONFIRMATION1) Advising: Rs. 2,500/-2) Amendments: Rs. 1,000/-3) Confirmation/Acceptance Case to case basis or as per
arrangement with correspo-dent bank
B. EXPORT LC TRANSFER/REIMBURSEMENTPAYMENT
1) Transfer of export LC. Rs. 1500/- per trans-fer plus applicabletelex/courier charges
2) Reimbursement Payment to Min. Rs. 500/-other banks from nonresi-dent rupee account :
C. RESTRICTED LETTER OF CREDITIf the documents are sent to Rs. 750/-other local bank for negotiationunder restricted letter of credit:
D. COLLECTION1) Clean export collection Rs. 750/-
per collection
2) Documentary export collection Rs. 1,000/-per collection
3) Handling of duty drawback claims 0.25% minRs. 200/-
4) Service charges for export 0.13%proceeds
E. NOC ISSUED/DOCSTRANSFERRED Rs. 1,000/-
Trade Services
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Citibank N.A. Pakistan
F. FREIGHT-SUBSIDYPROCESSING Rs. 80/- per case or
as per existingregulations
G. HANDLING OF OTHERSUBSIDY APPLICATIONS 0.25% min Rs. 500/-
per application
H. CREDIT REPORT CHARGES actual cost plus Rs. 1,000/- handling charges
INLAND BILL (Export)Documentary bills (with orwithout LC’s) within Pakistan.
1) SightBill (Negotiation) Commission 0.30% flat,
Min. Rs. 500/- for eachbill and Mark-down onadvance (Negotiation)@ as per arrangementwith customer.
2) UsanceBill (Discounting) Commission 0.30% flat
Min. Rs. 1500/- for eachBill and Mark-downon advance (Discounting)@ as per arrangementwith customer.
3) NoteMark-down if the bill isnot paid on Maturity, forthe overdue period@ as per arrangementwith Customer.
4) Documentary Collection 0.30% Collection Com-(Inland) mission Min. Rs. 1,500/-
to be recovered uponrealization ofproceeds.
Trade Services
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Citibank N.A. Pakistan
GuaranteesA. SHIPPING GUARANTEES
Guarantees issued to Rs. 3000/- Flatshipping companies inlieu of Bills of Lading:
B. OTHER GUARANTEES1) Guarantee Issuance 0.50% per quarter or part
thereof Min. Rs. 3000/- p.aor part thereof
2) Amendment other thanincrease in amount orextension in period Rs. 2000/- per amendment
C. BACK TO BACKa) Guarantee issuance: 0.50% per quarter or part
thereof Min USD 500/-p.a. or part thereof inclusiveof correspondence chargesor as per arrangement withcorrespondent bank
b) Amendment other than USD 50/- flat Inclusivean increase in amount of correspondenceor extension in period charges
D. LEGAL CHARGES Actual
E. EXPIRED GUARANTEEGuarantee charges will continue till original guarantee is returnedto the bank (will be recovered quarterly basis)
F. SERVICE CHARGES FOR CLAIMS BY BENEFICIARYRs. 1000/- flat plus out of pocket expenses
NOTE:-
Citibank provides Electronic Banking, Investment Banking, TradeFinance, Customised Cash Management solutions, Financial AdvisoryServices, and Commercial transactions. Fees and other chargesmaybe recovered on a case to case basis. Charges for Global CashManagement Customer will be as per arrangement.
Telex / Postage Charge shall be Levied as per schedule.Banking Services and Financing facilities are subject to taxes, dutiesand levies as imposed by the government from time to time.
Trade Services
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Citibank N.A. Pakistan
Cash Services
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A. REMITTANCES (FCY)
1) Per Outward Remittance*
Demand Draft/T.T. ** Rs. 500 per item
*Telex charges also apply as per schedule on pg 16
**In case of foreign remittances, correspondent bank charges will be
deducted as per actuals.
2) Inward Remittance:
a) If the proceeds are
credited to an account with
i) Another bank: 5% of the amount or Min
Rs.500/- Max. Rs. 10,000
ii) Citibank branches: Nil
b) Home remittance Nil
B. REMITTANCES (LCY)
1) Payorder Rs. 500/- Flat
2) Demand Drafts for Citibank 0.10% of the amount
location or Min. Rs. 500/-
3) Demand Drafts for non 0.30% of the amount
Citibank Locations or Min. Rs. 500/-
4) Postage on Drafts As per schedule on pg 16
C. STANDING INSTRUCTIONS Product charges plus
Standing instructions charges Rs. 250/- per transaction
will be recovered in addition to
usual charges on remittances
etc, if any: (not applicable for
Paylink, Speed Collect accounts
and inter Branch accounts).
Citibank N.A. Pakistan
Cash Services
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D. MANUALLY INITIATED Rs. 500/- per transaction
FUNDS TRANSFER
(MIFT) CHARGES
E. CHEQUE PURCHASE*
1) Local Currency Outstation
Cheques
a) Annual Volume less 1.1% of the amount or
than Rs. 15 million Min. Rs. 400/-
(per customer).
b) Annual Volume more 0.25% of the amount or
than Rs. 15 million Min. Rs. 300/-
(per customer).
2) For Cheques drawn on banks 0.60% of the amount or
(other than Citibank) in cities Min. Rs. 500/-
where Citibank has branches:
3) For Cheques drawn on Citibank 0.3% of the amount
Branches in Pakistan or Min. Rs. 300/-
a) Drafts/Clean Cheques drawn 0.5% of the amount or
on Citibank N.Y Min Rs. 500/-
b) Drafts/ Clean Cheques drawn 1.0% of the amount or
on other than Citibank N.Y Min. Rs. 500/-
* Subject to internal credit approvals
F. CLEARING Rs. 100/- Flat
a) Cheque returned (Outgoing
Clearing) or over the counter.
No charge for cheques returned
on the basis of signature
difference and stop payment:
Citibank N.A. Pakistan
b) Return clearing charges Rs. 200/- Flat
(Incoming Clearing).
No charges for cheques
returned on the basis of signature
difference and stop payment:
c) Cheque returned for Rs. 200/-
Speed Collect accounts
d) Same day Outgoing Clearing: Rs. 120/- per cheque
G. COLLECTION
1) Foreign Currency
a) Cheques deposited in account:
Rs. 500/- Flat Plus Postage/Telex as per schedule
b) TCs sent for collection 0.2% of the amount
or Min. Rs. 600/-
Max. Rs. 5,000 (or
equiv. in foreign currencies)
2) Local Currency
a) Cheques deposited in account (Inland)
Citibank/NIFT Locations Rs. 200/-
Other Locations 0.2% of the amount or
Min. Rs. 200/-
3) Foreign Demand Draft/Cheque/PO
sent for collection returned unpaid Rs. 1,000/- + telex charges
4) Local Demand Draft/Cheque/PO
sent for collection returned unpaid: Rs. 300/- per collection
H. PREPAID CARD SERVICES
This facility is offered only to our corporate clients.
Corporate Charges Cost (Rs.)
Card Issuance 250
Shipping 50 (or as per invoice)
Loading 500
Cash Services
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Citibank N.A. Pakistan
Cash Services
9
Card Holder Fees
Monthly Maintenance 50
(on inactive accounts)
ATM withdrawal (Domestic) 15 (Minimum of Rs. 15 or as per
bank’s ATM charges whichever
is higher)
Replacement of Lost card 200
Balance inquiry at ATM 15 (Minimum of Rs. 15 or as per
bank’s ATM charges whichever
is higher)
Account Closure (Card Cancellation) 200
I. COMMERCIAL CARD SERVICES
Annual Fee: PKR 6,000
Transaction Fee: 2% of the amount
International Transaction Fee: 4% of the amount
Cash Advance/ATM Fee: 4% of the cash advance
amount or PKR 500 whichever
is the greater.
Return Payment Fee: PKR 4,000
Purchasing Card: Pricing to be provided upon
request
Virtual Card Account (VCA) Fee: Pricing to be provided upon
request
Late Payment Fee: 4% of the outstanding balance
on which payment is due will be
charge each month until paid in
full.
Card Design/Logo: Pricing to be provided upon
request
Card Pull Request: Pricing to be provided upon
request
Project Implementation Costs: PKR 800,000
Citi Bank Management Information Rs. 500,000
System (CCRS)
Raw Data/Flat File Feed: Pricing available upon request
Central Travel Account/Travel Pricing available upon request
Agency Data:
Citibank N.A. Pakistan
J. MISCELLANEOUS
1) Hold Mail Rs. 1000/- per Quarter
2) Issuance of Counter Cheque Rs. 300/- per cheque
3) Issuance of SBP Cheque Rs. 450/- per cheque
only for Financial Institutions
settlement transactions
4) Issuance of duplicate Proceeds Rs. 550/- per certificate
Certificate (with SBP approval)
5) a) Cancellation of LCY DD and MC Rs. 300/-
b) Cancellation of FCY DD: $ 15 or equivalent PKR
6) Stop Payment of Cheques Rs. 400/- per each stop payment
Drawn on us:
7) Cash Withdrawal:
i) Deduction of withholding tax WHT will apply as imposed
(WHT) on cash withdrawal by the government from
transaction time to time.
8) FCY DD Inquires / Copy request $ 10 or equivalent PKR
(with Drawee Bank)
K. ELECTRONIC DISBURSEMENT
1) Stop payment for Paylink Rs. 100/- Flat
MC and DD:
2) Cancellation of Pay link MC Rs. 50/- Flat
3) Cancellation of Pay link DD Rs. 100/- Flat
4) Local courier charges for Actual courier
Paylink charges
5) Old Records retrieval charges Statement of a/c:
* For current year or previous 12
months, Rs. 1000/- per month.
* Over 1 year and up to 5 years,
Rs. 3,000/- per month.
* Over 5 years up to 10 years,
Rs. 5,000/- per month.
Cash Services
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Citibank N.A. Pakistan
Cash Services
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6) Duplicate Advices Collected within:3 months: Rs. 50/- per advice3-12 months: Rs. 100/- per adviceover 1 year: Rs. 300/- per advice
Note:The price per cheque excludes government taxes and duties.
THE ABOVE PAYLINK INSTRUMENT CHARGES EXCLUDE ALLAPPLICABLE GOVERNMENT TAXES AND DUTIES.
L. EASYPAY CORPORATE SERVICES:Annual Charges: Rs. 2,400/- to 25,000/-
(Depending on number oftelephone lines)
M. THIRD PARTY PAYMENTFOR WORLDLINK CUSTOMER / OTHER BANK
i) Pay Order Rs. 200/: Flatii) Draft for Citibank locations 0.20% of the amount or Min. Rs. 500/-iii) Draft for non- Citibank locations 0.30% of the amount or Min. Rs. 500/-
Note: For cancellation, duplicate advice, stop payment and oldrecord retrieval, the charges mentioned in section ‘H ElectronicDisbursement’ would apply.
Note:Citibank provides Electronic Banking, Investment Banking, Trade Finance,Customised Cash Management solutions, Financial Advisory Servicesand Commercial transactions. Fees and other charges may be recoveredon a case to case basis. Charges for Global Cash Management Customerwill be as per arrangement.
Telex / Postage Charge shall be Levied as per schedule.Banking Services and Financing facilities are subject to taxes, dutiesand levies as imposed by the government from time to time.
Citibank N.A. Pakistan
Cash Services
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N. TIME DEPOSIT
Any premature encashment of a term deposit shall be subject
to the following:
Pre encashment Penalty = Replacement Cost of funds + Cash Reserve
Requirement (CRR) Cost (Applicable only for term deposits origianlly
placed for one year or above)
1) Replacement Cost of fund will be calculated on Citi internal
money market rates basis.
2) CRR Cost will be calculated on the basis of Cash Reserve
Requirements as set by the State Bank of Pakistan at the time
of pre encashment. This is only applicable for term deposits which
are booked for a year or above but are pre encashed before one
year.
3) There will not be any profit adjustment for the period your deposit
stays with us. You will get your profit on the same rate that your
term deposit was placed with us. Only the pre-encashment charge
will be deducted form the accumulated profit (net of taxes)
4) For foreign currency time deposit:
- Zero or CTGL*** (Offer side) whichever is higher, on the
date of early termination minus the Applicable Rate whichever
in higher. The applicable CTGL*** will be that of the remaining
tenure (nearest quoted tenure) on the date of such early
termination.
*** CTGL (Citibank London Rates)
Please note that the terms and condition stated above are applicable
to all time deposits accepted under the said conditions.
The premature encashment cost/charge is levied to recover the fund
replacement cost incurred by the Bank due to early encashment of
time deposit.
O. DUPLICATE STATEMENT OF Rs. 35/- per statement
ACCOUNT
P. CHEQUE BOOK ISSUANCE
1. First Cheque book issuance Free of charge
2. New Cheque Book issuance Rs. 10/- per leaf + Govt.
taxes
Citibank N.A. Pakistan
Q. Investor Portfolio Securities (IPS) Accounts
1) IPS Account Opening Charges : Rs. 1,000
2) Transaction Changes : Rs. 200 / transaction
3) Safekeeping Charges/Stamp Duty : Rs. 1,000 annually
Legal Fee
R. FED will be charged on all the Bank Commissions
imposed by the government from time to time.
Cash Services
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Citibank N.A. Pakistan
A. TERM FINANCE CERTIFICATE1) Safekeeping charges 1% p.a.2) Registration charges 0.25% p.a.
Min. Rs. 1,250/-3) For registration outside Actuals
Karachi the courier and in-surance charges
4) Stamp Money ActualsB. SALE AND PURCHASE OF SECURITIES AND SAFE
CUSTODY.1) Sales and Purchase of 0.125% on the First
Securities Rs. 10,000/- of PurchasePrice of Cost thereof0.0626% on amountexceeding Rs. 10,000/-
Floatation A/c of Shares for Rs. 20,000/- or 0.5% ofCustomers: the subscription amount
whichever is higherNote:i) These charges are in addition to brokerage.ii) Commission is not to be recovered on Purchase on
newly Floated Securities, where it is payable by thegovernment, Government Agencies, and from theSubscribers to new Share Floatation.
iii) When Order for Purchase or Sales of Securities areexecuted through the Bank’s other Offices, all inci-dental Expenses such as Postage, InsuranceCharges, etc. Incurred will be recovered in additionto the commission/Brokerage Charged.
C. SECURITIES SERVICESCustodial Services offered to local and non-residentCustomers include the following, as appropriate:i) Settlement.ii) Safekeeping.iii) Income collection and distribution.iv) Corporate action.v) Registration.vi) Foreign Exchange (in conformance with local
regulations).a) Transaction fee: Based on value/volume
Safekeeping charges Based on asset value.Stamp duty, legal fees,
Other Services
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Citibank N.A. Pakistan
Central depository company Based on actualsCharges and other expenses:Outward funds transfer Rs. 500/-(Securities Related transaction)
b) GDR / ADR Conversion Fee $ 0.15 per 100Shares Payable in PakRupees
D. MISCELLANEOUS1) Stock Inspection of Cus- Actuals per inspection
tomers:2) Market/Trade Checking done Actuals + Rs. 1,000/-
on behalf of Customers handling charges
3) Cash access from bank Rs. 100/- per transactionvia third party for bank account
4) Miscellaneous/Balance Rs.1,000/- FlatCertificate
5) Retrieval of Documents(a) Paid cheque/Fund Transfer Doucmentsi) Within 1 year Rs. 1,000/-
per cheque/documentii) Between 1-3 years Rs. 2,000/-
per cheque/documentiii) More than 3 years Rs. 3,000/-
per cheque/document
GLOSSARYLC = Letter of CreditMC = Managers ChequePO = Pay OrderMT = Mail TransferTC = TravelersChequesDD = Demand DraftFCY = Foreign CurrencyLCY = Local CurrencyTT = Telegraphic TransferPIB = Pakistan Investment BondEquiv. = Equivalent
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Other Services Citibank N.A. Pakistan
A. LOCAL MAIL (ORDINARY) WITHIN PAKISTANRs. 8.00 upto 20gm LettersRs. 15.00 upto 50gm “Rs. 20.00 upto 100gm “Rs. 30.00 upto 250gm “Rs. 40.00 upto 500gm “(For over please contact us)Domestic Registered Mail for General Users Rs: 20.00
B. FOREIGN MAIL (ORDINARY) THROUGH POSTOFFICE
Weight up to For all countries For India For Indonesia For BangladeshRs. Rs. Rs. Rs.
20gm 55.00 28.00 38.00 23.0050gm 100.00 44.00 60.00 35.00
100gm 170.00 69.00 94.00 55.00250gm 390.00 158.00 213.00 125.00500gm 740.00 269.00 400.00 235.00
1000gm 1350.00 523.00 706.00 415.002000gm 2470.00 914.00 1233.00 725.00
International Registered Mail(1) For every Letter mail article Rs. 100.00
e.g. If an envelope of 20gm sent through registered mail followingwould be the applicable charges. Rs. 155.00 per 20gm envelopeC. PRODUCT WISE LOCAL/FOREIGN/POSTAL
CHARGESManager Cheques Rs. 20.00DD and Advice Rs. 20.00ICs LCY Rs. 50.00IBs Rs. 20.00Any Bank Instrument- For USA Rs. 50.00- Other than USA Rs. 25.00Telegram Inland Rs. 30.00Short Telex Charges Rs. 1500.00Full telex Charges/LC’s Rs. 2500.00
D. INTERNATIONAL COURIER SERVICE*Int’l Courier Charges Rs. 1500/- per document
upto 500 gmThe above charges are inclusive of Sales Tax.
E. COURIER SERVICE WITHIN PAKISTAN*Domestic (Nationwide)(Next Day Delivery) Rs. 100/- 500 gms Envlp
Local (Within City)(Next Day Delivery) Rs. 30/- 500 gms Envlp
* Subject to revisions by courier companies.
Other Services
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Citibank N.A. Pakistan
Note
17
Telex / Postage Charge shall be levied as perschedule.
Banking services and financing facilities are subjectto taxes, duties and levies as imposed by thegovernment(s) from time to time.
Citibank provides Electronic Banking, InvestmentBanking, Trade Finance, Commercial transactions,Cash Management Services and Financial AdvisoryServices. Fees and other charges may be recoveredon a case to case basis.
Citibank may, in its sole discretion, give full orpartial discount/exemption from payment of anyfee(s) /charge(s) as mentioned in this Schedule ofBank Charges subject to the condition that Citibankshal l have the r ight to wi thdraw suchd i s c o u n t / e x e m p t i o n w i t h o u t g i v i n gcustomer/account holder any further notice.
This Schedule of Charges is subject to such termsand conditions which are applicable to the bankingservices and financing facilities provided byCitibank. Further this schedule shall be considereda part of above referred terms and conditions.
Citibank N.A. Pakistan
SO
C-G
CG
-V6-
07-1
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Citibank N.A.
AWT Plaza, I.I. Chundrigar Road, P.O. Box 4889, Karachi - 74200.
Tel : (021) 111-999-999 Fax : (021) 32638208
Citibank N.A.
94, West, Aamir Plaza, Jinnah Avenue, Blue Area, P.O. Box 1815, Islamabad.
Tel : (9251) 207-2000 Fax : (9251) 282-1353
Citibank N.A.
5th Floor, EFU House, Jail Road, Lahore.
Tel: (042) 111-999-999
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