Financial Services Guide

Transcription

1 Financial Services Guide This Financial Services Guide (FSG) is dated 1 October 2013

2 It provides you with information about the financial services provided to you by Citigroup Pty Limited ABN AFSL No ( Citibank, we, our, or us ) and its representatives including Citigroup Business Process Solutions Pte Ltd ARBN ( CBPS ), Diners Club Pty Limited ABN ( Diners Club ), Peakbound Pty Ltd ABN ( Peakbound ), TCS e-serve Limited ARBN ( TCS e-serve ), Tata Consultancy Services (Philippines) Inc. ARBN ( TCS Philippines) and The Direct Call Centre Pty Limited ABN ( DCC ) to help you decide whether to use the financial services offered. It also provides information on how Citibank and other relevant persons are remunerated and about what to do if you have a complaint and how it will be dealt with. Distribution of this FSG by its Authorised Representatives has been authorised by Citibank. With this FSG, you may also receive a Product Disclosure Statement ( PDS ) for a life insurance, general insurance or consumer credit insurance product (the Insurance Products ) when we may make a recommendation to you to buy an Insurance Product and/or arrange it to be issued by third parties. The purpose of the PDS is to help you compare products and make an informed decision about whether to acquire the Insurance Product. The PDS includes information such as the fees payable, risks, benefits and significant characteristics of the particular Insurance Product. Citibank Citibank holds an Australian Financial Services Licence (AFSL No ) and is authorised to deal and to provide general advice on the Insurance Products. You can contact Citibank by calling or write to Citibank, GPO Box 40, Sydney NSW CBPS, Diners Club, Peakbound, TCS e-serve, TCS Philippines and DCC CBPS (Authorised Representative No ), Diners Club (Authorised Representative No ), Peakbound (Authorised Representative No ), TCS e-serve (Authorised Representative No ), TCS Philippines (Authorised Representative No ) and DCC (Authorised Representative No ) are all authorised representatives of Citibank and may be engaged to provide financial services* on behalf of Citibank in relation to an Insurance Product. The financial services provided by CBPS, Diners Club, Peakbound, TCS e-serve, TCS Philippines or DCC, in relation to this FSG are provided for Citibank only. Should CBPS, Diners Club, Peakbound, TCS e-serve, TCS Philippines or DCC offer to provide you with any financial services under another authorisation, you will receive an FSG in relation to that service.

3 You can contact: CBPS at GPO Box 40, Sydney NSW 2001 Diners Club at GPO Box 5088, Melbourne VIC 3001 Peakbound at Level 3, Meagher Street, Chippendale NSW 2008 TCS e-serve at 223 Nesco Compound, Off Western Express Highway, Goregaon East, Mumbai , India TCS Philippines at 10th Floor, Ascendas Accralaw Tower, Second Avenue corner 30th St, E square I.T. Zone, Crescent Park West, Bonifacio Global City, Taguig City 1634, Philippines DCC at Level 9, 2 Park Street, Sydney NSW 2000 Our Authorised Representatives change from time to time. The list above is correct as at the date you are provided this FSG. You can obtain a copy of our current FSG from www. citibank.com.au or by phoning *Financial services provided Representatives of Peakbound, TCS e-serve, TCS Philippines or DCC may call you to discuss the offer of insurance described in the relevant PDS, if we have provided one to you. Representatives of Citibank, CBPS, Peakbound, TCS e-serve, TCS Philippines or DCC may discuss with you the offer of insurance when you contact any of them. These representatives are authorised to provide you with general advice only, relating to these Insurance Products. They are not able to provide you with personal advice, which means that your personal financial situation, needs and objectives will not be considered. Citibank is responsible for the financial service provided to you. As an Authorised Deposit-taking Institution, we are not required by the Australian Securities Investments Commission to obtain professional indemnity insurance. How do I pay for the financial services provided? If you purchase any of the Insurance Products, you will be required to pay a premium as described in the PDS and this charge is automatically billed to your nominated account. If you do purchase any Insurance Product there is no direct charge to you for the service provided. The Citibank representatives that provide you with information about the Insurance Products are paid salary or wages and may, where permissible, receive a commission of up to 40% of their salary (paid monthly), dependent upon their achievement of key performance indicators, including quality of service to you and sales of the Insurance Products. They may also be entitled, where permissible, to other incentives, such as gift vouchers. For selling Insurance Products that are credit card insurance

4 products, Citibank receives, where permissible, up to 20% commission of the premium amount from financial product issuers. This is a not a direct additional cost to you. Citibank representatives may receive from Citibank, where permissible, up to $15 per sale of credit card insurance products. Citibank representatives may also be paid, where permissible, bonus payments for the sale of credit card insurance products based on the achievement of sales targets. This is not a direct additional cost to you. For Insurance Products that are general insurance products, Citibank s brokers may receive from Citibank, where permissible, up to $40 per sale for referrals to Allianz Australia Insurance Limited that result in product sales. This is not a direct additional cost to you. For selling general insurance products, Citibank receives, where permissible, up to 20% of the first year s annual premium and 20% of the annual premium after the first year as ongoing commission from issuers. This is not a direct additional cost to you. Citibank representatives may receive from Citibank, where permissible, up to $40 per sale of general insurance products. In relation to Insurance Products that are life insurance products, Citibank s representatives may receive from Citibank, where permissible, up to $20 per lead for the generation of leads for the sale of life insurance products. This is not a direct additional cost to you. For selling life insurance products, Citibank receives, where permissible, up to 150% of the first year s annual premium and 20% of the annual premium after the first year as ongoing commission from issuers. Citibank representatives may receive from Citibank, where permissible, benefits equalling up to the amount of commission that Citibank receives. This is not a direct additional cost to you. For selling Insurance Products that are mortgage protection insurance products, Citibank may receive, where permissible, up to $250 per sale and up to 20% ongoing commission of the annual premium from the issuer. This is not a direct additional cost to you. Citibank representatives may receive from Citibank, where permissible, up to $140 per sale of mortgage protection insurance. Citibank may, where permissible, receive marketing rebates, sponsorship payments, system and administration rebates, or non-monetary benefits, such as briefings, training and sales materials from financial product issuers with whom insurance policies are placed. You may request particulars of these benefits by contacting us within a reasonable time after receiving this FSG and before any financial service set out in this FSG is provided to you.

5 Insurance products Citibank has a distribution agreement with MetLife Insurance Limited ABN AFSL No ( MetLife ) until July 2015, which means that Citibank will distribute non-superannuation life insurance, total and permanent disability and trauma insurance during that period where such insurance has been issued by MetLife in addition to insurance products issued by other providers including AIA Australia Limited ABN AFSL No , OnePath Life Limited ABN AFSL No , Allianz Australia Insurance Limited ABN AFSL No , ACE Insurance Limited ABN AFSL No , The National Mutual Life Association of Australasia Limited ABN AFSL No , Suncorp Life and Superannuation Limited ABN AFSL No and MTA Insurance Limited ABN AFSL No Diners Club distributes insurance issued by ACE Insurance Limited ABN AFSL No What if I have a complaint? We have established a free complaints resolution process. If you have a complaint please call Citibank on We will take action to investigate your complaint and will respond to you in writing, unless agreed otherwise, within 21 days to tell you of the outcome or that we need more time. You may also wish to write to us. Our address is: Citigroup Pty Limited Customer Advocacy Unit GPO Box 204 Sydney NSW If you are not satisfied with our response you can contact the Financial Ombudsman Service ( FOS ), our free external dispute resolution service, who will then investigate the matter. The telephone number is The address is: The Manager Financial Ombudsman Service Limited GPO Box 3 Melbourne VIC Please contact CBPS, Diners Club, Peakbound, TCS e-serve, TCS Philippines or DCC if you require further information about their relationships with other AFS licensees.

6 Privacy consent By submitting an application for an Insurance Product distributed by Citibank, you consent as follows: 1. We may collect and use your personal information to process your application, to offer you different products and services, and for planning, product development, research and related services. If you do not provide us with the information we ask for or if the information provided is incorrect or incomplete, we may not be able to process your application. 2. To distribute products and provide services to you, and to manage your relationship with us, we share your personal information with other Citigroup affiliates and sales agents. If we disclose your personal information to our affiliates and other entities that provide services to you on our behalf, your information may be transferred outside Australia. 3. We also share your personal information with: (a) any signatory to the policy or facility for which you are applying (b) any broker, financial, legal or other adviser acting in connection with your policy or application (c) any insurer issuing or relating to your policy (d) organisations wishing to acquire an interest in any part of Citibank s business for assessing any proposed acquisition, and (e) organisations that carry out functions on our behalf including mailing houses, data processors and researchers, some of which may be located outside Australia. 4. You can view our privacy policies on our website at www. citibank.com.au/privacy or obtain a copy by calling us on You can access the personal information we hold concerning you by contacting us at the number above. A charge may apply for this access. 5. Citibank, Citigroup affiliate companies and their partners may use your personal information to keep you informed about other products, services and offers which may be of interest to you. They may do this by phone, mail, and SMS. Citigroup operates in several different lines of business including banking, credit cards, consumer finance, securities and insurance. If you do not wish to receive these communications please notify us in writing or by phone on Note: If you have not told us that you do not wish to receive these communications by phone, you may be contacted even if you have registered your phone number on the national Do Not Call Register. 6. Your telephone calls and conversations with a Citibank representative may be recorded and monitored for quality, training and verification purposes. MCG13952_(1013)