Citibank money transfer

As a global bank, Citibank makes it easy for you to manage your money around the world. Whether you?re doing business in Europe or dealing with personal interests in Australia, with Citibank you can send money overseas quickly, securely and conveniently. Citibank offer two main methods of transferring money abroad:
  • Citibank Global Transfer1 ? offering free* and immediate funds transfers to other Citibank accounts in the USA, Europe, India, and Singapore (selected branches only). Available through Citibank Online Banking and Citibank Card Banking Centers.
  • SWIFT transfer ? a telegraphic transfer service that can be arranged using CitiPhone or at one of our branches, and allows you to send money to bank accounts almost anywhere in the world.
*Applies to transfers made in the same currency. Transfers made across currencies will attract a charge.

Citibank Global Transfer

With this unique funds transfer service you can send money for free1 and immediately to Citibank accounts in the USA, Europe, India, and Singapore (selected branches only).

You can transfer up to £10,000 in Sterling or in the currency of the recipient account every day (please note that some countries don?t allow you to transfer this amount). The service allows you to view the exchange rate before you complete the transaction.

If you are transferring between your UK Citibank Accounts, you can transfer up to $500,000 (or currency equivalent) per day.

Citibank Global Transfer is available through Citibank Online and Citibank Card Banking Centers (located within UK branches of Citibank), 24 hours a day, 7 days a week. The only time it is unavailable is during system updates.

SWIFT transfer

Sending money abroad

This telegraphic overseas funds transfer service can be arranged through CitiPhone Banking or through any Citibank branch in the UK. Your telegraphic transfer will be sent on the same working day, provided you call and provide the required details and documentation before the following times:

  • For sending Sterling and euro 2.00pm UK time.
  • For sending US Dollars 3.00pm UK time.
  • For sending all other currencies 11.00am UK time.

Requests received after these times will be processed the following working day. There is a standard charge for this service.

As a general guideline international funds transfers may take five to six working days to be credited to the beneficiary account. Citibank cannot guarantee the exact time taken as this depends on the local and intermediary bank systems.

Receiving money from abroad

Your Citibank account has been designed to give you fast and convenient access to your money. For maximum flexibility, funds in any currency can be received into your Citibank account in the following ways:

  • Telegraphic transfers.
  • Bank drafts.
  • Personal cheques.

We would recommend telegraphic transfers as the most reliable method of receiving funds from overseas, as cleared funds are credited to your Citibank account. Citibank uses an international transfer process called SWIFT2.

When receiving SWIFT telegraphic transfers, you must supply the bank or individual making the payment with the following information:

IBAN (International Bank Account Number)

Please quote your IBAN, which is noted at the top of your Citibank Monthly Statment. This IBAN is for International and European transfers only. If receiving monies from a payer in a European country you should pass your Citibank IBAN to the payer to quote as the beneficiary account number. If you are sending monies to a European country you should quote the relevant IBAN number on the funds transfer request as the beneficiary account number.

Official site: www.citibank.co.uk