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Citibank international money transfers – Review & Analysis

Learn more about the services offered by Citibank in Canada.

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Claire Horwood

Updated Sep 19, 2018

Fact checked

Citibank has a global network and online resources that allow you to access and send money from almost anywhere in the world with ease and flexibility. However, Citibank services in Canada are very limited. Read on to find out more about the services offered across Canada.

Citibank services in Canada

Citibank offers a few services in Canada including:

Citi Corporate and Investment Banking. Citibank offers investment and corporate banking services to a variety of customers in various sectors and industries, including metals and mining, energy, manufacturing and telecommunications. Citi’s Corporate and Investment Banking has offices in Toronto, Calgary and Montreal.
Markets and Securities Services. Citibank offers financing solutions for corporations, governments and institutional and retail investors through a variety of services, including underwriting, sales, trading and distribution capabilities.
Citi Private Bank. Through Citi Private Bank, it’s possible to bank internationally. Described as a service for “wealthy and worldly” individuals or families, this service allows customers to customize their banking preferences. Services include risk management, investment advice, portfolio management, business financing and trust and estate services.
Citi Treasury and Trade Solutions. Citibank offers integrated cash management and trade finance services to corporations, financial institutions and public sector organizations around the world.

You should keep in mind that although Citibank offers the above services in Canada, there are no Citibank ATMs in this country.

What other products and services does Citibank offers in Canada?

Credit cards. Citibank offers a few different commercial and consumer credit cards to suit different spending needs and preferences. Customers can choose from the Home Depot Consumer Credit Card, the Home Depot Commercial Revolving Card and the Home Depot Commercial Account credit cards, each of which offers different reward programs and low rates.

Citibank international money transfers

If you wish to transfer money overseas and have a Citibank Private Bank account, you can send money to over 42 countries worldwide. Citibank online transfers enable you to transfer funds domestically or internationally to other bank accounts or to Citibank accounts.

Citibank Canada’s SWIFT code/ BIC is CITICATTBCH.

Transfer type	Purpose	How long?
Global	Sends funds instantly between Citibank accounts in certain countries.	Instant.
Online	Send funds domestically or internationally to any other bank account.	3-5 business days.

Citibank foreign exchange rates

As a Citibank customer, you get access to a wide range of foreign currencies at competitive rates as well as a host of other useful products. If you conduct business overseas, travel a lot or invest in foreign currencies, Citibank may provide useful services for you. With their services and accounts, you may be able to exchange one currency for another at prevailing exchange rates.

Why choose Citibank?

A global network. Citibank has more than 40,000 branches in over 42 countries, ensuring that you will find a branch or ATM around the globe, outside Canada.
Business solutions. Citibank offers a variety of different solutions for businesses, governments and multinational corporations.
Wealth management solutions. Citibank offers private banking services to wealthy individuals and families.

What are the pros and cons of using Citibank?

Pros

Security. Citibank ensures that all of your online money transfers are secure. It uses the latest encryption technology to protect your information online.
Global banking. Citibank has an extensive network and global support to provide you with banking solutions around the world.

Cons

Processing delays. International money transfers from Citibank accounts to other financial institutions around the world can take up to five days to be processed, which can cause inconvenience in urgent situations.
Limited options. The banking options offered by Citibank in Canada are very limited.

Compare Citibank to other money transfer services

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
CAD 1	Same day	CAD 0.00	0.794	USD 3,971	XE has fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 1.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, COP, CRC, CVE, CZK, DJF, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TMT, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
USD 150	1 day	CAD 15.00	0.79	USD 3,939	Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee. OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount USD 150.00 Transfer methods Online, Phone, Agent Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ARS, AUD, AZN, BGN, BHD, BND, BRL, CAD, CHF, CLP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XAF, XOF, XPF, ZAR Go to site Read the full review
CAD 10	Within an hour	N/A	N/A	N/A	Special offers like free transfers and better exchange rates available for new customers. Remitly has quick, affordable transfers around the world, with both express and economy options.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 10.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, BDT, BGN, BOB, BRL, CAD, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
CAD 0	Within an hour	CAD 3.99	0.795	USD 3,971	Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply. WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XOF, ZAR, ZMW, BYN Go to site Read the full review
USD 10,000	1 - 2 days	N/A	N/A	N/A	Dunbridge Financial offers diverse transfer options to more than 120 countries. Powered by Currencycloud.	Go to site	Compare	Show details	Details Minimum transfer amount USD 10,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AFN, ALL, AMD, ARS, AUD, AZN, BAM, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, BYR, CAD, CHF, CNY, COP, CRC, CZK, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MXN, MYR, MZN, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, THB, TJS, TND, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, VND, VUV, WST, XOF, XPF, YER, ZWD, ZAF Go to site Read the full review
CAD 1	1 - 2 days	CAD 45.00	0.798	USD 3,955	Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 1.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, ERN, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
GBP 5,000	1 - 2 days	-	-		CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 5,000.00 Transfer methods Online, Phone, Bank Account to Bank Account, International Money Order Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ARS, AUD, BGN, BHD, BRL, CAD, CHF, CNY, CZK, DKK, ERN, EUR, GBP, GHS, HKD, HNL, HRK, HUF, ILS, INR, JMD, JOD, JPY, KES, KWD, MAD, MUR, MXN, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, ZAR Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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Claire Horwood

Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, along with an Associate's Degree in Science from Camosun College. Much of Claire's coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.

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Citibank international money transfers – Review & Analysis

Learn more about the services offered by Citibank in Canada.

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