‘Citi India customers now served by Axis Bank’: Important points Citi customers need to know 

Axis Bank announced on Wednesday that it has completed the acquisition of Citibank’s India consumer and non-banking finance businesses. Announced last year, the deal is valued at around Rs 11,603 crore. Citi India has now flashed a message on its website stating that its customers will now be served by Axis Bank. It said that consumers can continue using all existing branches, ATMs, internet banking and the mobile app. All Citi India branches will now be rebranded as Axis Bank.

“Citi India consumer banking customers are now served by Axis Bank. Citi India has transferred ownership of its consumer banking business to Axis Bank (registration number L65110GJ1993PLC020769). Consumer banking customers can continue to use all existing Citi products and/or services, branches, ATMs, internet banking and Citi Mobile® App as usual. Axis Bank is the provider of Citi branded consumer banking products in India temporarily and Citi India is providing certain services in respect of those products. The trademarks "Citi", "Citibank", "Citigroup", the Arc design and all similar trademarks and derivations thereof are used temporarily under license by Axis Bank from Citigroup Inc. and related group entities,” the message stated.

Here are a few things that Citibank’s India consumer business’ customers need to keep in mind:

• The Citi mobile app and online banking could still be used by consumers.
• All Citi branches will be branded as Axis Bank branches and consumers would still be able to use the same.
• There will be no change in account number, IFSC, MICR codes.
• Citi consumers will be able to continue using their debit, ATM, credit cards and cheque books as usual.
• Reward points across both credit and debit cards would continue to accrue and remain available for use. There will be no change to the earning ratio and redemption process.
• There will be no change in fees, charges, billing cycle, payment due date and bill payment methods for credit cards.
• All standing Instructions with regards to loan payments, bill payments, or any other account transfer will continue as usual.
• Citi consumers’ investment portfolios will also continue without any change.
• The account number and DP ID for demat account with Citi will remain the same. The DI slips that have been issued for transactions will continue to be valid.
• For insurance policies availed via Citi, the policy number, product features and benefits, renewal dates will continue with no change.
• Citibank has surrendered its IRDAI licence and hence all requests related to insurance policies will be attended by Axis Bank.
• For loans, the account number, fees, charges, product features, repayment cycles will remain as is.

Also read: Axis Bank completes acquisition of Citibank’s India consumer business