Citi Introduces Citigold Private Client World Elite Debit Mastercard in Hong Kong

Citibank has launched the Citigold Private Client World Elite Debit Mastercard, the first and highest tier of its kind in Hong Kong. This new debit card is designed to offer unparalleled privileges and worldwide payment convenience to Citigold Private Client (CPC) customers.

The Citigold Private Client World Elite Debit Mastercard targets high-net-worth individuals in Hong Kong, addressing their evolving spending habits and needs. The card offers a range of exclusive benefits, including airport lounge access, complimentary golf rounds, and buy-one-get-one-free buffets. Additionally, it boasts a daily spending limit of up to HKD 300,000, the highest in town.

A significant feature of the card is the Mastercard Travel Pass, which provides access to over 1,300 airport lounges globally. Cardholders also benefit from 24/7 global travel and lifestyle concierge services, exclusive offers on hotel accommodations and car rentals, and up to USD 500,000 in travel insurance coverage.

The launch of the Citigold Private Client World Elite Debit Mastercard marks a significant development in the region's debit card market, offering high-net-worth individuals unparalleled privileges and worldwide payment convenience. This could lead to increased competition among banks to offer premium debit card services, benefiting consumers in the end.

Citi has partnered with Mastercard to launch this elite debit card, marking a significant development in the region's debit card market. Helena Chen, Managing Director for Hong Kong & Macau at Mastercard, expressed her enthusiasm: "Mastercard is delighted to partner with Citi in launching the Citigold Private Client World Elite Debit Mastercard."

The launch event for the Citigold Private Client World Elite Debit Mastercard took place on June 3 at an exclusive luncheon attended by 100 Citigold Private Client members. This event follows the card's initial launch in Singapore in January.

In addition to offering luxury benefits, Citi is committed to sustainability through its partnership with the Mastercard Priceless Planet Coalition. For every HKD 5,000 spent on the card, Citi will restore a tree, with a pledge to fund the restoration of at least 12,000 trees over two years.

The introduction of the Citigold Private Client World Elite Debit Mastercard comes at a time when debit card usage in Hong Kong has surged. A Citi survey indicates that overall debit card usage has increased by 90% over the past five years, with a notable rise in foreign currency transactions for dining, travel, and grocery shopping, reflecting a shift in consumer behavior.

Vicky Kong, Chief Executive of Citibank Hong Kong, highlighted the bank's commitment to providing top-tier services: "With our long-standing leadership in wealth management, Citi has been on the forefront of identifying and addressing the financial needs of its customers."

The Citigold Private Client World Elite Debit Mastercard represents Citi's dedication to catering to the unique needs of high-net-worth clients in Hong Kong. With its array of exclusive privileges and commitment to sustainability, the card sets a new standard in the region's debit card market, offering a private banking experience.

Key Takeaways

• Citibank launches Citigold Private Client World Elite Debit Mastercard in Hong Kong.
• Card offers airport lounge access, golf rounds, and buy-one-get-one-free buffets.
• Daily spending limit is up to HKD 300,000, the highest in Hong Kong.
• Card includes Mastercard Travel Pass, 24/7 concierge services, and travel insurance.
• Citi partners with Mastercard to launch the card, with a focus on sustainability.