can a non-australian open an online cash management acount with citibank australia? it seems yes according to their site but not sure. for your information, this account is no monthly fees, no minimum ballance, 100% online and gives 5.4% interest rate calculated daily and paid monthly. this is the best bank account in the world so you must deffinitly try it.

Originally posted by jeha8147
can a non-australian open an online cash management acount with citibank australia? it seems yes according to their site but not sure. for your information, this account is no monthly fees, no minimum ballance, 100% online and gives 5.4% interest rate calculated daily and paid monthly. this is the best bank account in the world so you must deffinitly try it.

Can I have the link? Can't find anywhere....

Would also like to see that, sounds to good to be true ;-)

Hmm, seems to be true! http://www.citibank.com.au/portal/citiau_home_center.jsp?frameval1=AU2HeroProm2&menuID=AU2leftNavDeposit

Ok, was to good to be true ;-) Read: http://www.citibank.com.au/australia/pdf/OCM_PDS_0204.pdf

"Interest Income

Interest income earned on your OCM Account will be sourced in Australia. If you are a resident of Australia in the income year in which the interest is paid or credited your interest will be included in assessable income for Australian tax purposes. If you are a non-resident, you will be subject to 10% interest withholding tax."

There are several other paragraphs in the PDF that makes this account pretty uninteresting for foreigners.

i applyed for this account and i'm not australian nor ever been there, i'm waiting for the confirmation that the account was opened and will keep you informed but beleive me, the fact that it's 100% online and gives 5.4% per year make it the best account in the world i really advise many of you to try it.

yes, you can, if you have a local Citibank near you to verify your identifications, it speeds up the process a lot. Actually Citibank online cash manager is the account we advise our customers to open, so they can transfer their OZEX balance into it and earn high interest.

Originally posted by Lorenz
Ok, was to good to be true ;-) Read: http://www.citibank.com.au/australia/pdf/OCM_PDS_0204.pdf

"Interest Income

Interest income earned on your OCM Account will be sourced in Australia. If you are a resident of Australia in the income year in which the interest is paid or credited your interest will be included in assessable income for Australian tax purposes. If you are a non-resident, you will be subject to 10% interest withholding tax."

There are several other paragraphs in the PDF that makes this account pretty uninteresting for foreigners.


My understanding is if you paid tax in australia, you don't have to pay tax in your own country, or you can deduct the amount in your tax return

Unless most of your clients are in Australia this account is not that much useful

not true, my clients are mostly foreign. They can withdraw up to A$3000 per day with a citicard at a citibank in their city, and get very good rate. If they also open a citibank account in their own country, they can wire more fund to their account for free. I can't see any better solution than this

Hi
Hopefully able to open account in US? That will be great and make us easier no addition ex-rate loss.


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why are you wasting your time trying to open an account in the U.S. while an account in Canada, Australia or even Malaysia gives you all what you need? you want to withdraw your paypal balance? no problem, link an account in one of these countries, receive money in it than transfer the money to were you are in the world with wire transfer through the internet or get your money from an atm near you with the international debit card that the bank sent you when you opened an account in one of these countries.it's as easy as that, no need for ssn, itn, fbi,cia, dhs or patriot act.

well, it's against Paypal rule to open an account that's not in your country of residence, they will freeze your account if they detect your IP is not right. You can only add US bank and bank in your country.