CitiBank account in Denpasar Bali

Tuesday morning I went to CitiBank on Jl. Teuku Umar in Denpasar to open a checking account. Citibank is a business bank, that deals in large scale clients. What does that have to do with me?

Where banking is concerned, I am small scale, but the thing I like about Citibank is it is a well respected, international bank, with branches everywhere and even lounges at airports in Indonesia. Banks in Indonesia are unregulated, you can start your own if you have the cash.

The idea of getting paid via a Citibank account and avoiding the ATM costs of my other account, is attractive. Citibank has a bright and shiny building and is very easy to locate (if I can find a place in Denpasar, its easy to locate), and the staff bury you in ‘Ba Paks’. It’s a super nice place, in no way like BNI, or any of those other places, where its cattle call to get to the counter. There is a reason for all this, I found out.

In order to open a CitiBank account in Denpasar, you need to maintain a balance of US$5,000 and have KITAS. No KITAS, no account. I thanked them and was about to leave, when the sales staff informed me that I could open an account in Singapore, without KITAS! Awesome, sign me up, I’ll get an ATM card and we’re rocking’. Read the small print: You don’t need KITAS, you do need US$20,000 as a minimum balance. How many people do you know who keep $20,000 handy in their checking account? I don’t know any and certainly am not one who can.

Oh well, its was a nice look at how the big boys bank. CitiBank and its staff seem very professional, and if I win the California lottery I might go back.