Send money just about anywhere in the world with one of the convenient and affordable international money transfer options from Citibank
Send Citibank international money transfers with two convenient options available to Citibank account holders: Citibank Global Transfers and international wire transfers. Citibank Global Transfers offers a fee-free way to send money to Citibank bank accounts in more than 20 countries, while wire transfers are available to just about anywhere in the world, for a fee.
With the ability to send funds direct from your Citibank account to your recipient’s overseas bank account, Citibank makes it easy to send international money transfers.
What is Citibank?
Founded in 1812 in New York City, Citibank has grown to become a leading global financial institution. Citibank has more than 200 million customer accounts with operations spanning 160 countries around the world.
As a large global bank, Citibank offers a diverse range of products to its customers. These include corporate and investment banking solutions, wealth management and securities brokerage. Its suite of personal banking solutions includes everything from credit cards and mortgages to saving, checking and investment accounts. Citibank international money transfers are also available to account holders.
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How can you send money overseas with Citibank?
There are two options for sending money overseas with Citibank: Citibank Global Transfers and international wire transfers. Citibank Global Transfers can be sent to any Citibank account in more than 20 countries around the world. These transactions can be lodged online, at a branch or at an ATM, and all you have to do is provide your recipient’s name and Citibank account number. There are no transfer fees when you send your money using this option. Note that both you and your recipient must be using your Citibank accounts to complete the transfer in order to qualify for the Citibank Global Transfer.
International wire transfers allow you to send your money to more than 7,000 banks in locations all over the world. Citibank account holders will be charged a $35 fee for these transfers, while Citigold account holders will be charged $25. Citibank Private Bank accounts are waived all fees, no matter what type of transfer. The fees are less if you are making an outbound domestic wire transfer. You are required to provide the name and location of your recipient’s bank, as well as the name of the recipient and their account number. A SWIFT, BIC code or UID number will also be required.
Whichever transfer option you choose, you’ll need to have a Citibank checking, savings or money market account. Same-day processing of transfers is typically available and the funds are then deposited directly into your beneficiary’s bank account. The process is quick, easy and convenient.
Pros and cons of using Citibank
- Fee-free transfers. Citibank Global Transfers allow you to send money to other Citibank account holders in more than 20 countries without incurring any fees. All fees are waived for Citi Private Bank clients.
- Simple. You can quickly and easily send a Citibank international money transfer from your online banking account.
- Fast. Citibank international money transfers are sent the same business day if received before 5:15pm ET.
- Transfer options. Transfers can be sent online, from ATMs or by visiting your nearest branch, and can be funded from a checking, saving or money market account.
- Wire transfer fees. Be prepared to pay a fee when you send money via international wire transfer to a non-Citibank account.
- Limits. Depending on your account type, the amount you can transfer at one time is limited, generally to $50,000 per day or day.
What other products does Citibank offer?
- Credit cards. Citibank offers an extensive range of business credit cards, student credit cards, travel credit cards, rewards credit cards, no annual fee credit cards and more.
- Mortgages. Citibank provides home loan products for home buyers, investors and those looking to refinance an existing mortgage.
- Home equity lending. Take advantage of your home’s equity when you take out a loan with Citibank.
- Personal loans. Borrow funds for just about any purpose and enjoy competitive interest rates and flexible features.
- Investing. Invest in a wide range of financial instruments on your own or with the help of a Citibank advisor.
Frequently asked questions about Citibank
What fees apply to Citibank international money transfers?
If you and your recipient have Citibank accounts, you qualify for a Citibank Global Transfer and fees are waived. However, if you send a standard international wire transfer to a recipient without a Citibank account, you will pay a fee of up to $35 per transfer. Citigold accounts are charged $25, while fees are waived for Citibank Private Bank clients.
Which countries can I send Citibank Global Transfers to?
The Citibank Global Transfers service allows you to transfer funds from the United States to Citibank accounts in the following countries: Australia, Bahrain, China, Colombia, Hong Kong, Hungary, India, Indonesia, Japan SMBC Trust Company, Korea, Malaysia, Mexico, Philippines, Poland, Singapore, Taiwan, Thailand, United Arab Emirates, United Kingdom, and Vietnam.
How can I fund a Citibank international money transfer?
You can send money overseas from your Citibank checking, saving or money market account.
How long does it take for a wire transfer to be sent?
Citibank will typically process your international wire transfer on the same day you submit it, as long as you lodge your transaction before 5:15PM ET.
Do I need to visit my nearest branch to send a transfer?
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.
What information do I need to provide to send my money?
If you’re sending a Citibank Global Transfer, all you need to provide is the beneficiary’s name and their account number. International wire transfers, however, require you to provide the name of your beneficiary and their account number, the name of your beneficiary’s bank and its location, as well as a SWIFT code, Bic code or CHIPS UID number.
Can I set up a recurring wire transfer?
While you can set up a recurring transfer for domestic wire transfers, this option is not available when you are sending money overseas.
Can I send money in a foreign currency?
Yes. However, the exchange rate will include a fee charged by Citibank for the currency conversion.
When you need to send money overseas, the two international money transfer options available from Citibank offer a quick and easy solution. However, before you commit to any international transaction you should always make sure to compare all your available options to ensure that you get the best value for your money.