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Transition Journey for Citibank Investment Customers
As we move Forward Together in the transition of Citi’s consumer business in India to Axis Bank, we are delighted to introduce you to a world of redefined possibilities with enhanced investment opportunities.
Explore the potential of investing with us to realize your financial dreams - whether you seek expert advice or prefer self-directed investing, our diverse range of solutions are designed to cater to all your financial needs.
We are committed to making this transition journey a seamless one for you!
If you hold a Citibank Investment Services Account (“ISA”), all your holdings including transaction history will be migrated seamlessly to Axis Bank by the migration date. We are ensuring there are minimal changes to the way you invest and are working diligently to ensure that your data is integrated into Axis Bank systems. Post the migration, you should see the below changes:
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Existing Systematic Investment Plan, Systematic Withdrawal Plan and Systematic Transfer Plan mandates in your
Citibank ISA will be seamlessly migrated with no action from your end.
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If you hold an individual demat account under DP ID IN300685, your holdings will be migrated to Axis Securities
DP ID IN304295. Non-Individual demat account holders will be migrated to Axis Bank DP ID IN300484. You will receive a separate communication from us in this regard.![green-tick]()
You will get access to invest in 4500+ Mutual funds, AIF, PMS.
Existing Systematic Investment Plan, Systematic Withdrawal Plan and Systematic Transfer Plan mandates in your
Citibank ISA will be seamlessly migrated with no action from your end.
For any further queries and more information on Investments
Frequently Asked Questions
Where will my investment holdings be migrated?
Your holdings under Citibank Investment services account will be migrated to the corresponding Axis Bank investment account.
Do I have to open a new banking and investment account with Axis Bank?
No, we will migrate your existing Citibank savings or current account and any linked investment account to the Axis Bank platform.
Will there be any change to the distributor code of my investment portfolio?
Yes, all your holdings will reflect under Axis Bank Limited AMFI Code: ARN-0019.
I have already submitted my FATCA and KYC documents. Do I need to re-submit any KYC documents & FATCA for my investment account(s)?
FATCA: If you are an individual customer and have already provided FATCA documents, you are not required to submit the details again. However, if your FATCA / KYC documents are not updated, you will be prompted to update the details on the Axis Bank platform while executing transactions through Internet / Mobile Banking App, open or through any of our branches.
Non-Individual customers will be prompted to submit their FATCA documents at the Axis Bank branch when placing a transaction request at the time of executing the first transaction after the completion of Investment account migration.
KYC updates: If your KYC documents are already updated, you will not be required to update the same again for either type of accounts i.e., Individuals and Non-Individual.
Will the details of my mapped bank account change?
Your bank account number will remain the same post the migration to Axis Bank. However, the IFSC and MICR code for your account have changed. We will update the same on best effort basis with the Registrar & Transfer Agents, Depositories and PMS/AIF providers. You are also requested to verify this across your investment holdings.
How do I open an investment account for my family member?
Please visit your nearest Axis Bank branch or contact your Relationship Manager. Alternatively, an investment account can also be opened easily from the Axis Bank Internet Banking / Mobile Banking App, open.
I have accounts and an investment portfolio in both Axis Bank and Citibank How will they operate post the migration?
Your accounts as well as your investment portfolios will continue as is. The migrating savings and linked investment account will be housed under your existing Axis Bank Customer ID.
The investment account number of the migrating account will comprise of 10 digits of your erstwhile Citibank Investment account number + last 4 digits of the linked Current/ Savings account (Total: 14-digit account number).
You will be able to view and manage your account and investment portfolio via various Axis Bank platforms like Internet Banking and Mobile Banking.
I have already done my risk profiling with Citibank . How will my risk profile be migrated? How long will the same be valid for?
• Your existing Citibank risk profile will be migrated to Axis Bank along with the existing expiry date. It will be valid till the expiry date or 1 year, whichever is earlier.
• Risk profiles at Citibank will be mapped to Axis Bank Risk Profiles as follows:
| Citibank Risk Profile | Axis Bank Risk Profile |
|---|---|
| IP1 | Risk Averse |
| IP2 | Conservative |
| IP3 | Balanced |
| IP4 | Growth |
| IP5 & IP6 | Aggressive |
• In case your risk profile is in expired status, you will be prompted to update the same when executing your first investment transaction through Axis Bank Internet Banking or Mobile Banking App, open or an Axis Bank branch.
• In case you have multiple risk profiles across various Citibank investment accounts, the lowest risk profile will be migrated to Axis Bank.
What all investment products will be available for me after the migration?
You will get access to all investment products (within your Risk profile) that are on offer currently on the Axis Bank platform . For more details click on the link:
How do I execute investment transactions in Mutual Funds, PMS, AIF and bonds post the migration?
• You can make Mutual Fund transactions through Axis Bank Internet Banking or Mobile Banking App, open (Available to individual account holders). You can also reach out to any Axis Bank branch for the same.
• Transactions in PMS, AIF and bonds can be executed through any Axis Bank branch.
• Sovereign gold bonds can be purchased through Axis Bank Internet Banking or Mobile Banking App, open or any of the Axis Bank branch.
Will Internet and Mobile Banking services be affected by the acquisition? Can I use my Citibank Online login ID and password?
Citibank Online and Citibank Mobile App will not be functional post the migration and hence you will not be able to use the same login ID and password. You will need to register on Axis Bank Internet Banking / Mobile Banking App, open and setup a new login ID and password. The login credentials that you set for your Axis Bank account can also be used to access your investment portfolio. (Available to individual account holders)
What happens to my ongoing Mutual Funds SIPs registered with Citibank? Do I need to give fresh mandate / Standing Instruction (SI) for the same?
All existing SIP registrations will be migrated and mapped to the corresponding Axis Bank Investment account.Similarly, all mandate(s) will be mapped to the migrated savings / current account.
Will I continue to get portfolio statements as I have been getting so far from Citibank?
Following investment reports will be available for you to download through Axis Bank Internet Banking / Mobile Banking platforms, open, in lieu of the erstwhile CRISIL reports:
1. Portfolio holding statement
2.
Transaction statement
3. Capital gain / loss statement
4. Dividend (IDCW) statement.
These statements provide similar information as was available in the erstwhile CRISIL reports.
The CRISIL reports will not be available post the migration.
I have an investment account both with Citibank and Axis Bank with common folios. What will be the impact on my holdings post the migration?
Your lump sum investments will be merged in the existing Axis Bank investment account.
Any existing SIP in the Citibank system will be discontinued from Citibank platform and re-registered or re-activated under existing Axis Bank investment account automatically at our end.
My investment account is blocked in the Citibank system. How will it be migrated to Axis Bank?
All accounts that are blocked on the Citibank system will be migrated to Axis Bank in a blocked status and you will be required to contact your Relationship Manager or visit the nearest Axis Bank branch to activate the account.
Would the transaction history of my Citibank Investment account be available post the migration?
Yes, historical data for active folios will be available post migration on Axis Bank platform . However, historical data will not be available for any folio that was closed in the Citibank system.
Will the Systematic Withdrawal Plans also be migrated to Axis Bank?
Yes, existing Systematic Withdrawal Plans will also be migrated along with SIPs as upon migration from Citibank to Axis Bank systems.
How will my individual demat account be migrated?
Your individual Demat account will be migrated from Axis Bank Ltd (DP ID IN300685) to Axis Securities Ltd. (DP ID IN304295). This is being done to ensure that you can avail the full suite of services offered by Axis Group including trading accounts / facilities at attractive pricing.
How will this migration affect my existing Demat holdings and transactions ?
Your existing holdings will be seamlessly migrated to Axis Securities DP ID IN304295. You will be able to continue to transact and manage your holdings hassle-free, through Axis Bank branches providing demat services.
Will my DP ID / Client ID change after the migration?
Yes, DP ID will change to Axis Securities DP ID IN304295. However, the Client ID may change in certain cases, and we will keep you informed of the same.
What happens to my existing DI slip booklet after migration?
Your existing DI slip booklet(s) will no longer be valid post the migration. Axis Securities will send you a new welcome kit with updated booklets and instructions post the migration.
What will happen if I have pending requests like dematerialization, rematerialization or conversion with Axis Bank DP ID IN300685 at the time of migration?
We will wait for the pending requests to get accepted / rejected by the Registrar & Transfer Agent, post which the specific holdings will be transferred to your new demat account created with Axis Securities Ltd. Upon the completion of migration, your demat account with Axis Bank will be closed. For any service request post migration, you will need to contact Axis Securities.
Will there be any changes in the way I access my demat account online?
Post migration, you will be able to view your demat account balances through Axis Bank Internet Banking / Mobile Banking App, open.
How will I receive statements and communication post migration?
Axis Securities Limited will send you weekly statements and all communication related to your demat account on the contact details registered with NSDL for your account.
Will there be any changes in the fees or charges associated with my demat account, post the migration?
Schedule of Charges (SOC) associated with your demat account will remain unchanged on account of migration.
How can I avail demat related services, post the migration?
Post the migration of your demat account, you can visit your home branch of Axis Bank or any Axis Bank branch providing Demat services, where Axis Securities staff will assist you with your queries and transactions .
What will happen to demat accounts under regulatory blocks or having holdings under restrictions?
Demat accounts under regulatory block or holdings that under restrictions like pending dematerialization, blocked ISIN, pledges etc., will not be migrated to Axis Securities DP ID IN304295 till such time these blocks / restrictions are regularized.
How will this migration affect my existing demat holdings and transactions?
Your existing holdings will be seamlessly migrated from DP ID IN300685 to another DP ID of Axis Bank (DP ID IN300484). This is being done with the objective of offering you a full suite of services from Axis Bank. You will be able to continue to transact and manage your holdings hassle-free, through Axis Bank branches providing demat services.
Will my DP ID / Client ID change after the migration?
Yes, your DP ID will change from DP ID IN300685 to another DP ID of Axis Bank (DP ID IN300484). However, Client ID may change in certain cases only, and we will keep you informed regarding the same.
What will happen if I have pending requests like dematerialization, rematerialization or conversion with Axis Bank Ltd DP ID IN300685 at the time of migration?
We will wait for the pending requests to get accepted / rejected by the Registrar and Transfer Agent, post which the specific holdings will be transferred to your new demat account created under DP ID IN300484. Post complete migration, your demat account under DP ID IN300685 will be closed. For service requests post the migration, you will need to contact Axis Bank branches providing demat services.
How will I receive statements and communication post the migration?
We will send you weekly statements and all communications related to your demat account on your contact details registered with NSDL for your account.
Will there be any changes in the fees or charges associated with my demat account post the migration?
Schedule of Charges (SOC) associated with your demat account will remain the same on migration.
How can I avail demat related services post the migration?
Post the migration of your demat account, you can visit your home branch of Axis Bank or any Axis Bank branch providing demat services, where you we will be happy to assist you with your queries and transactions .
What will happen to demat accounts under regulatory blocks or having holdings under restrictions?
Demat accounts under regulatory block or holdings under restrictions like pending dematerialization, blocked ISIN, pledges etc., will not be migrated to DP ID IN300484 till such time these blocks / restrictions are regularized.
Can I access my demat account online?
Post migration, you will be able to view your demat account balances through Axis Bank Internet Banking / Mobile Banking App, open
What happens to my existing DI slips booklet(s) after the migration?
Your existing DI slip booklet(s) will no longer be valid post the migration. We will send you a new welcome kit with updated booklets and instructions post the migration.
Contact Now
- Call us at 1860-419-5555 or 1860-500-5555 (local charges applicable) / 18001035577 (Toll Free)
- Use +91-22-4955-2484 for calling us from outside of India
- Phone Banking teams are available from 9 AM to 9 PM for all your banking needs.
- Chat online at www.axisbank.com/support
- Please write to head customercare@citi.com for any transition related queries or feedback.
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Citi India consumer banking customers are now served by Axis Bank.
Citi India has transferred ownership of its consumer banking business to Axis Bank (registration number L65110GJ1993PLC020769) with effect from 1st Mar 2023.
Consumer banking customers can continue to use all existing Citi products and/or services, branches, ATMs, internet banking and Citi Mobile®App as usual. Axis Bank is the provider of Citi branded consumer banking products in India temporarily and Citi India is providing certain services in respect of those products.
The trademarks “Citi”, “Citibank”, “Citigroup”, the Arc design and all similar trademarks and derivations thereof are used temporarily under license by Axis Bank from Citigroup Inc. and related group entities.