The Overnight Deposit is a deposit facility to store multiple currencies. This facility offers convenience to customers without a Global Foreign Currency Account by providing a debiting/crediting option for foreign currency transactions.
While the Overnight Deposit can be used for debiting or crediting purposes during an investment transaction or via Citi Online Foreign Exchange (eFX), it is not a transactional account and cannot be used for cash withdrawals, debit card payments or remittances. Balances in the Overnight Deposit may be non-interest bearing and can only be withdrawn by transferring to a Global Foreign Currency Account or Checking/Saving Account via Citibank Online.
Overnight Deposits are opened upon request when customers transact in Investment Products such as Time Deposit, Premium Account, Unit Trust, Portfolio Finance, etc.