Citibank money transfers review November 2018 | finder.com

Review: Citibank international money transfers – November 2018

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Enjoy fast, secure transfers and multiple options when sending money overseas.

A respected global financial institution, Citibank offers a broad range of banking products and services to personal and business customers around the world. If you need to move money internationally, Citibank provides two competitive and secure options:

  • Citibank Global Transfers. Send money from your Citibank account to other Citibank accounts in more than 20 countries — all without paying a transfer fee.
  • International wire transfers. Send money to more than 7,000 banks worldwide.

You can initiate a transfer from your local bank branch, online or through a Citibank ATM.

Product NameCitibank
Min. Transfer Amount$0
Max. Transfer AmountNo limit
Transfer Methods
Online, Phone, Agent, , ...
Transfer Options
Regular payments, One off payments
Transfer Speed
Minimum transfer time
2 days
Customer Service
Phone, Branch
Available CurrenciesAED, AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, RUB, SEK, TRY, USD, ZAR
Exchange Rate UpdatesReal time

Highlights

  • Bank-to-bank transfers. You must have a bank account with Citibank to make a transfer with the financial institution. And you can only transfer money to a bank account. Your recipient cannot pick up cash.
  • Large transfers. Depending on the type of account you hold with Citibank, you can send up to $250,000 a day.

Citibank SWIFT/BIC information

Bank nameSWIFT/BICBank addressRecipient’s nameRecipient’s account number
CitigroupCITIUS33111 Wall Street New York, NY 10033Beneficiary’s name as it appears on the bank statementComplete bank account number

How much will I pay to transfer money with Citibank?

If you use Citibank Global Transfers, you won’t pay a transfer fee for your international money transfers. You can send and receive money internationally without incurring any charges.

International wire transfer fees vary depending on the type of account you have:

  • Citigold and Citipriority — $25 per transfer
  • Citi Private Bank — $0 transfer fee
  • Citi International Personal — $30
  • Citigold International — $20
  • Citigold Private Client — $0
  • Citi Global Executive — $30
  • Citi Global Executive Preferred — $30
  • All other Citi accounts — $35 per transfer
  • Wires initiated at a bank branch — $45 per transfer

How are Citibank’s exchange rates?

Citibank’s exchange rates are regularly updated to keep pace with market fluctuations, so it’s important that you check the rates that apply to your transaction before you send any money.

Because it’s a global bank, Citibank can typically offer more competitive exchange rates than banks with a presence in the US only.

What types of transfers can I make with Citibank?

  • One-off transfers. Send a one-time transfer from your Citibank account.
  • Recurring transfers. This option is only available for Citibank-to-Citibank transfers.
  • Bank-to-bank transfers. Citibank only gives you the option to transfer money to a bank account. Your recipient cannot pick up cash.

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Pros and cons of using Citibank

Pros
  • Fee-free transfers. With Citibank Global Transfers, you can send money to other Citibank account holders in more than 20 countries without incurring any fees.
  • Simple process. Quickly and easily send a money transfer from your online account.
  • Fast transfer speeds. International money transfers are sent the same business day if received before 5:15 p.m. ET.
  • Transfer options. Transfers can be sent online, from ATMs or by visiting your nearest branch, and they can be funded from a checking, savings or money market account.
  • Worldwide access. Citibank makes it possible to send money to just about anywhere in the world.
Cons
  • High wire transfer fees. Prepare to pay a fee when you send money by wire transfer to a non-Citibank account.
  • Transfer limits. Depending on your account type, how much you can transfer at one time is typically limited to $50,000 a day.

How do I send money overseas with Citibank?

Citibank offers two options for you to send money overseas: Citibank Global Transfers and international wire transfers.

Citibank Global Transfers

Citibank Global Transfers can be sent to any Citibank account in more than 20 countries around the world at no charge. You can initiate a transfer online, at a branch or through an ATM with only your recipient’s name and Citibank account number.

International wire transfers through Citibank

With a wire transfer, you can send your money to more than 7,000 banks worldwide.

Citibank account holders pay a $35 transfer fee, while Citigold account holders pay $25. Citibank Private Bank accounts are waived of all fees, no matter the type of transfer. If you’re making an outbound domestic wire transfer, you’ll pay lower fees.

For a wire transfer, you provide the name of your recipient and their bank’s routing, account and SWIFT numbers.

Whichever transfer option you choose, you’ll need a Citibank checking, savings or money market account. Same-day processing of transfers is typically available, with the funds deposited directly into your beneficiary’s bank account.
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Does Zelle work with Citibank?

Yes. Zelle, a new peer-to-peer payment service, is available through the mobile apps Citi Mobile and Citibank Online. To send money to other Zelle accounts you need to:

  1. Log in and select Send money with Zelle.
  2. Follow the onscreen instructions to choose who you want to send it to and how much.

How do I register and transfer funds with Citibank?

To set up a Citibank Global Transfer, you specify your recipient’s name and account number. After you confirm the details of your transaction, the money is debited from your account and sent to your recipient’s account.

For international wire transfers, you’ll need to provide:

  • Your recipient’s full name.
  • Your recipient’s bank name, address, and SWIFT code.
  • Your recipient’s bank routing and account numbers.

International money transfers are sent the same business day if received before 5:15 p.m. ET.

Where can I send money?

Citibank Global Transfers allow you to send funds to:

  • Australia
  • Bahrain
  • China
  • Colombia
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Japan SMBC Trust Bank Ltd
  • Korea
  • Malaysia
  • Mexico
  • Philippines
  • Poland
  • Singapore
  • Taiwan
  • Thailand
  • United Arab Emirates
  • United Kingdom
  • Vietnam

More countries are available for Citibank’s Wire Transfer service.

Bottom line

Citibank offers two easy, effective solutions when you need to send money overseas. But before you commit to any international transaction, compare your available options to make sure you get the best value for your money.

Compare other international money transfer providers

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$0 3 - 5 days USD 0.00 0.875 EUR 4,373 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 0.874 EUR 4,371 No maximum limit, no fees and competitive exchange rates for 100+ currencies. Go to site Show details
USD 1 Within an hour USD 3.99 0.874 EUR 4,367 Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
Go to site Show details
USD 1 3 - 5 days USD 50.00 0.882 EUR
4,366
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 0.873 EUR 4,366 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

Compare up to 4 providers

Frequently asked questions

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

No maximum limit, no fees and competitive exchange rates for 100+ currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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8 Responses

  1. Default Gravatar
    NakigoziOctober 9, 2018

    Hello, please advise me, someone sent me money for Barbados through city bank to uganda on Thursday last week, it is now Tuesday, how long am I supposed to wait?

    • finder Customer Care
      nikkiangcoOctober 10, 2018Staff

      Hi Nakigozi,

      Thanks for your inquiry and for visiting our page.

      Sorry to hear about the delay. Citibank international money transfers usually take a minimum of 2 days to remit to the receiving by the bank. However, this varies per country. There are times that there may be delays in the processing and release of funds on the receiving end. It would be best to ask Citibank directly to check on the status of the transfer and check with your bank how they process an international money transfer.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Regards,
      Nikki

  2. Default Gravatar
    MandelaMarch 15, 2018

    Please i need the swift code for international transfer in Kenya,Nairobi..Thank you

    • finder Customer Care
      RenchMarch 21, 2018Staff

      Hi Mandela,

      Thanks for reaching out to us. Please note that we are not affiliated with Citibank or any company we feature on our site and so we can only offer you general advice.

      For sending money internationally and need a SWIFT number, ask your recipient for the SWIFT number of the bank to which their account belongs.

      You may also contact Citibank directly for further assistance by visiting their official site.

      Best regards,
      Rench

  3. Default Gravatar
    UdoikoMay 24, 2017

    Please where do i send my international wire transfer information,can i transfer DGS through here?

    • finder Customer Care
      HaroldJune 25, 2017Staff

      Hi Udoiko,

      Thank you for your inquiry.

      For a wire transfer overseas, you will pay $35 for most transfers, although this cost rises to $45 if you initiate the transfer at a bank branch. The fee is waived for Citigold account holders. You can check your options of which providers are available for your through checking on section where it says “Compare other international money transfer providers.”

      I hope this information has helped.

      Cheers,
      Harold

  4. Default Gravatar
    GraceApril 18, 2017

    I soldi a property in mexico and funds were being held in escrow, by citibank since April 10 2017 the wire transfer had not been receive to my bank in mexico. Why this delay.
    Please give me information

    • finder Customer Care
      HaroldJuly 30, 2017Staff

      Hi Grace,

      Thank you for your inquiry.

      As per the information you have provided. It would be nice to coordinate directly with the bank where you had the issue during fund transfer process. You can clarify with them what are issues occurred and asked them what are the options to resolve it.

      I hope this information has helped.

      Cheers,
      Harold

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