Anyone know the details of Citibank's new Citigold Reserved banking status? Is it with free equity trades (like BoA) via SB? Where can I find all the details?

Hey Dolmer! Are you there?

Tintin

Not even close Citigroup choose to discontinue there discount brokerage unit and convert all bank brokers to Smith Barney as they did not want to compete with BOA and Well Fargo offers. Smith Barney and Citibank and going after wealthy people who want full service accounts. In my opinion this move was intended to make small non profitable brokerage account close there accounts and go else where.

Citigold Reserved requires $500k assets between Citibank and Smith Barney. Only extra benefits it gives over standard Citigold is ATM rebates, 1 year annual fee waiver on Citi Chairman Card, Free brokerage Quicken access waiver($4.95 monthly otherwise), Free non standard checks orders ie Free Laser Voucher Checks if you want, Free outgoing Fed Wires, Free Citi Global Transfer and no annual fee on brokerage account or min trading revenue at all because of as March 1st all brokerage account with less than $500k in assets will be subject to $45 annual fee per account or max $100 per household.

1 more thing. Citigold Reserve will not count loan balances either. It has to be $500k+ in assets ie cash in Citibank accounts or Stocks, bonds and mutual funds position in Smith Barney Accounts.

Hi Dolmer,

Great info. Thank you so much.

Tintin

Your welcome btw just so you know I have no proof that Citigroup want people with small accounts to close there accounts and leave that is just my guess only as all other banks offer free brokerage accounts with no fee's at all like Wamu, Wells Fargo, BOA, Wachovia, Sun Trust, Fifth Third Bank etc.

All other banks offer self service options too. Citigroup no longer offers a self service account at all as they killed off CIS which was there self service division and converted all CIS accounts to Smith Barney account this year in April.