Citibank International Money Transfers Comparison

Citibank international money transfers comparison

Send money worldwide with convenient, affordable international money transfer options.

Citibank account holders can transfer money internationally through two convenient options:

  • Citibank Global Transfers, a fee-free way to send money to Citibank accounts in more than 20 countries.
  • International wire transfers, available to just about anywhere in the world for a fee.

Either option sends money from your Citibank account to your recipient’s bank account worldwide.

How does Citibank compare to independent money transfer specialists

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds overseas with our money transfer partners.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

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Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
World First Foreign Exchange
USD 1,000 1 day USD 0.00 17.438 Online MXN 87,190 Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
Go to site View details
TransferWise International Money Transfers
USD 1 1 day USD 75.00 17.714 Online MXN
87,243
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site View details
OFX International Money Transfers
USD 150 1 day USD 0.00 17.643 Online, Bank Account to Bank Account MXN 88,217 Send safe, no-limit transfers with no fees and competitive exchange rates. Go to site View details
HiFX International Money Transfers
USD 100 2 days USD 5.00 17.635 Online MXN 88,085 Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000. Go to site View details
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How can 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 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.

What is a swift number?

Short for the cumbersome Society for Worldwide Interbank Financial Telecommunication, a SWIFT code is an international bank code used for incoming transfers. Overseas banks each have a unique SWIFT code that identifies which bank to send money to.

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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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.
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 limited typically to $50,000 a day.

What other products does Citibank offer?

  • Credit cards. Citibank offers an extensive range of business, student, travel, rewards and no annual fee credit cards.
  • Mortgages. Citibank provides home loan products for homebuyers, investors and those looking to refinance an existing mortgage.
  • Home equity lending. Take advantage of your home’s equity with a loan from Citibank.
  • Personal loans. Borrow funds and enjoy competitive rates and flexible features.
  • Investing. Invest in a wide range of financial instruments on your own or with the help of a Citibank adviser.

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What is Citibank?

Founded in 1812 in New York City, Citibank has grown to become a leading global financial institution with more than 200 million customer accounts in 160 countries around the world.

A large global bank, Citibank offers a diverse range of products to its customers that include corporate and investment banking solutions, wealth management and securities brokerage. Its suite of personal banking solutions include credit cards, mortgages, and savings, checking and investment accounts.

Bottom line

When you need to send money overseas, Citibank’s two international money transfer options are a quick, easy solution.

However, before you commit to any international transaction, compare your available options to make sure you get the best value for your money.

Frequently asked questions

If you and your recipient have Citibank accounts, you can send a free Citibank Global Transfer. For a standard international wire transfer to a recipient without a Citibank account, you will pay up to $35 per transfer. Citigold accounts are charged $25, while fees are waived for Citibank Private Bank clients.

Citibank Global Transfers allow you to transfer funds to Citibank accounts in Australia, Bahrain, China, Colombia, Hong Kong, Hungary, India, Indonesia, Japan, Korea, Malaysia, Mexico, the Philippines, Poland, Singapore, Taiwan, Thailand, United Arab Emirates, the United Kingdom and Vietnam.

You can send money overseas from your Citibank checking, savings or money market account.

Citibank will typically process your international wire transfer on the same day you submit it, as long as you lodge your transaction before 5:15  p.m. ET.

No. While it’s possible to send Citibank Global Transfers and international wire transfers at select bank locations, you can also make Citibank international money transfers online with your Citibank online banking account.

While you can set up a recurring domestic wire transfers with Citibank, this option is not available for overseas transfers.

Yes. However, the exchange rate will include a fee charged by Citibank for the currency conversion.

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4 Responses

  1. Default Gravatar
    SusanMay 10, 2017

    Am sending funds from online banking to another bank COT tranfer code n ask me for payment for that to whom will I send my payment to citi bank? Is it western union?

    • Staff
      HaroldJuly 3, 2017Staff

      Hi Susan,

      Thank you for your inquiry.

      Please use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds overseas with our money transfer companies.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    MichelleFebruary 12, 2017

    Can Citibank Korea transfer money to EastWest bank in the Philippines?

    • Staff
      AnndyJune 25, 2017Staff

      Hi Michelle,

      Thanks for your question.

      With Citibank wire transfers, you can send your money to more than 7,000 banks worldwide. It may or may not include EastWest. To confirm, it is best to contact Citibank directly.

      Cheers,
      Anndy

US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

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

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 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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