Information about the acquisition
On 1 June 2022, National Australia Bank Limited ('NAB') acquired the Citigroup Pty Ltd (‘Citi’) consumer business in Australia (‘Citi Consumer’ business).
Citi Consumer customers will have already received communication from Citigroup via email or letter about the transfer.
What does this mean for customers?
From 1 June 2022, NAB will continue to operate the Citi Consumer business largely on a standalone basis for a transition period.
Integration of the Citi Consumer business into NAB will occur progressively over the next two to three years. NAB will communicate with Citi Consumer customers about any changes to products and services as required over this period.
Citi Consumer customers can continue to access and manage their accounts using their existing cards, app and services. They will continue to be supported by Citi Consumer teams on Citigroup systems until the integration is complete. The Citi brand is being used by NAB temporarily under licence from Citigroup Inc. and related entities.
NAB has also acquired Diners Club Pty Ltd (Diners) as part of the transaction. Diners customers have products including Diners branded charge cards and Spot. Buy Now, Pay Later. Diners customers are remaining customers of Diners and their customer service channels are not changing.
Citi Consumer products include mortgages, deposit products, investment products, personal loans and credit cards, including Citi branded and white label branded cards.
Co-branded and white label products include the following brands:
- Bank of Queensland & Virgin Money
- Suncorp Bank
- Card Services
- IMB Bank
- Auswide Bank
- Emirates (co-brand)
There are no changes to products and services for standard NAB customers. Although, NAB customers who also hold Citi branded accounts should read the FAQs on the Citi website below including about the changes to the application of the Financial Claims Scheme.
Citi Consumer customers should continue to use their existing service channels. Customers with Citi branded products can refer to the Citi website for FAQs about what the transfer means in relation to their products and services: Citi's transition to NAB, opens in new window
Get in touch
Customers with Citi branded products can continue to use the following avenues to receive support:
What happens next?
NAB will review the products and services we provide (including the Citi Consumer products it has acquired) and may make changes as part of this process. NAB will communicate with customers about any changes to products and services as required.
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