New York Demand Deposit Accounts

What is it?

A U.S. dollar checking account maintained at Citibank®, N.A. 111 Wall Street, New York, U.S.A., where funds are held and may be managed and accessed by clients. You can receive credits or withdraw U.S. dollar funds on demand without restriction or penalty.

How does it work?


A New York Demand Deposit Account (DDA) also allows you to issue cheques drawn on Citibank® New York. These cheques may be customised to bear your name.

There is also the option of having the cheques customised to meet your specific requirements.

What are the benefits?


Efficiency: Direct access to the US Clearing systems results in more expedient access to funds from cheque deposits and wires into these accounts

Protection: United States Sovereign Risk

Interest potential: Interest from Sweep Investments is credited daily based on predetermined minimum investment requirements.

Convenience: Offers the ability to issue cheques drawn on a US bank – widely accepted by your beneficiaries.

Requirements


Incorporation documentation for your company and the Company Board of Directors' resolution authorizing the opening of the account and those persons authorized to sign. These must be original documents signed by the duly authorized persons in your company, usually the Chairman and Company Secretary.

Account opening documentation


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Cash Management
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Local Savings Accounts
London Accounts
General Account Conditions
Local Conditions: New York Accounts
Local Conditions: Jamaican Accounts