Moving Money

FAQs on Funds Transfers

Citibank provides its customers with access to their funds 24 hours a day, 365 days a year. This means that you can carry out every transaction through our telephone and online services.

Funds transfers are one of our highest risk transactions, and as such, require specific security measures that help protect our customers and the bank. The following section will provide more detailed information on the process and on the most effective way for our customers to effect a funds transfer.

New enhanced fraud prevention measures for Citibank Online

Launching in September 2012, in order to protect your account and enhance your online experience, all new payees will need to be verified with a one-time pass code which we will send to you by SMS text message. To check the number we have recorded for you, please send us a secure message containing your mobile number by ‘Signing On’ to Citibank Online. Alternatively you can visit us in branch or call us on 0800 00 55 00. If you are a Citigold customer, speak to your Relationship Manager today.

How can I telegraphically transfer funds from my Citibank account?
What security procedures will you require when I instruct a funds transfer from my account?
Is it mandatory to have a TPIN to give a Funds Transfer instruction through CitiPhone?
Do I need to have an account with Citibank UK to transfer money overseas?
What is the fastest way for me to transfer money from overseas or from another bank in the UK to my Citibank UK Account?
What is the deadline (time) I need to submit by to guarantee the funds transfer leaves the same day?
What information do I need to provide to effect an outgoing funds transfer?
When transferring money from an overseas bank or from another bank in the UK to an account with Citibank UK, what information should I give my bank?
What is a SWIFT code and why should I use it?
What is the use of Sort Code, National IDs of the bank and how do I identify them?
What is an IBAN number?
Where can I find my IBAN?
What is Citibank UK’s SWIFT code and when should I use it?
How long does it take for my money to reach the beneficiary for an outgoing international funds transfer?
What should I do if the beneficiary has not received the funds sent?
How long does it take for my money to reach the beneficiary (the place I sent the funds) for a transfer within the UK?
Are there any fees applicable for outgoing Funds Transfers?
Why is the amount that reaches the beneficiary sometimes less than the amount sent?
What should I do if I do not receive funds sent from the remitting bank?
How can I find out if my incoming funds have arrived?
Are there any fees applicable for incoming international fund transfers into Citibank UK?
Can I check whether a person's Citibank account is operational?

How can I telegraphically transfer funds from my Citibank account?

We provide you with three ways to transfer funds from your Citibank UK Account:

By writing to Customer Services, PO Box #49930, London, SE5 7XT
By calling CitiPhone on 0800 00 55 00 (if calling from within UK) or +44 207 500 5500 (from outside UK)
In person at one of our UK branches.

We may call you to verify your instructions in the interests of security. Please make sure you sign any instruction for a transfer of funds or any other transaction request.

What security procedures will you require when I instruct a funds transfer from my account?

Written instructions: Please make sure you sign any instruction for a transfer of funds or any other transaction request.
CitiPhone: We will ask that you identify yourself through your card number and TPIN.
Branch: We will ask that you identify yourself with Card and ATM PIN and complete a form with your signature and the complete instructions

Please ensure that your contact details are current and correct in case a verification call becomes necessary. Only the contact details on record will be used.

Is it mandatory to have a TPIN to give a Funds Transfer instruction through CitiPhone?

Yes a TPIN (Telephone PIN) is our primary way of identifying you, and therefore is necessary when instructing a funds transfer over the phone.

Do I need to have an account with Citibank-UK to transfer money overseas?

Yes, as this is the most cost effective and secure method of making the transfer.

In exceptional cases, if you hold accounts with Citibank in another country, you can transfer funds to that account. You need to visit one of our branches to effect a funds transfer with your Citicard, Government issued photo identification, and proof of address. There is a £40 charge for this service.

What is the fastest way for me to transfer money from overseas or from another bank in the UK to my Citibank UK Account?

An electronic or SWIFT instruction is the fastest way to get funds directly into your Citibank account. Please advise of routing details to be provided to the remitting Bank when transferring funds from overseas to your Citibank Account in the UK.

What is the deadline (time) I need to submit by to guarantee the funds transfer leaves the same day?

Your telegraphic transfer will be processed on the same banking day if we receive your instructions by 3pm. Any instructions received after 3pm will be processed on the following banking day.

What information do I need to provide to effect an outgoing funds transfer?

Amount and Currency of the Transfer.
Beneficiary Bank name & Country, Address, BIC/SWIFT Code.
Cover Bank: Citibank will try and locate this for you. However if you have the cover bank details and provide your preference, the payment will be processed accordingly.
Beneficiary Name and Account Number.
Reference for the transfer.
Reason for the transfer.
Your a/c number to be debited for the transfer and the fees.

When transferring money from an overseas bank or another bank in the UK to an account with Citibank UK, what information should I give my bank?

The bank will ask you for the name of the person receiving the money and their account number (IBAN) as it appears in their Citibank Account statement. Please see routing details of various currencies transferred.

What is a SWIFT code and why should I use it?

SWIFT code is an 8 or 11-character bank code, which allows effective identification of the Bank to which the funds are being sent (beneficiary bank).

For example, the SWIFT code of Citibank in Greece is CITIGRAA where CITI – is the name of the bank, GR – Country code for Greece and AA – Head office code (Athens in this case). To denote a branch a three alpha/numeric/alpha numeric character may be suffixed. E.g. CITIGRAAXYZ, where XYZ –Branch code. A valid SWIFT code (BIC code) ensures the efficient transfer of funds.

What is the use of Sort Code, National IDs of the Bank and how do I identify them?

Sort Codes, National Ids, or Branch Codes are specific codes allocated to each and every bank/branch so that these banks can easily be located, thereby enabling the efficient transfer of funds. Listed below are a few examples of National Ids.

ABA – American Banking Association – This is a 9-digit number, which is mandatory for all USD transfers within the USA.
BSB – Bank State Branch – This is a 6-digit number used in South Africa, Australia and New Zealand.
Sort Code – This is a 6-digit bank code used for transfers within the United Kingdom.
BLZ – This is an 8-digit bank code used in Germany

What is an IBAN number?

IBAN stands for the International Bank Account Number and is used by banks in European countries for international funds transfers. Every customer has their own unique IBAN, which should be quoted for all international funds transfers.

The format of IBAN for Citibank-UK customers is as follows GBXXCITIYYYYYYZZZZZZZZ where GB – Great Britain, XX – Two digit numeric code, CITI – Citibank, YYYYYY – Citibank-UK’s Sort Code, and ZZZZZZZZ – Your 8 digit Citibank Account number.

Where can I find my IBAN?

Your IBAN can be found on your monthly statement or by calling CitiPhone at 0800 00 55 00 (if calling from within UK) or 0044 207 500 5500 (from outside UK).

What is Citibank-UK’s SWIFT code and when should I use it?

Our SWIFT code is CITIGB2L. You should provide this to the Bank transferring funds to your Citibank UK Account for all international wire transfers. Please routing details to be provided to the remitting Bank when transferring funds from overseas to your Citibank Account in the UK.

How long does it take for my money to reach the beneficiary in case of an outgoing international funds transfer?

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.

What should I do if the beneficiary has not received the funds sent?

Please call CitiPhone at 0800 00 55 00 (if calling from within UK) or 0044 207 500 5500 (from outside UK) and provide the following information to allow us to investigate quickly:

Beneficiary bank name & account number
Routing instructions provided
Date funds were sent
Amount of funds sent
Reference number if any

Our investigation will take between 3 – 4 days but we will keep you updated on our progress. We may need your assistance in contacting the beneficiary Bank.

Are there any fees applicable for outgoing Funds Transfers?

Please note fees applicable for Outgoing Funds Transfer.

Please note that intermediary banks may debit a fee when the funds pass through them, which means the amount arriving may differ slightly from what was sent.

Why is the amount, which reaches the beneficiary sometimes less than the amount sent?

This could happen due to the following reasons:

The cover bank used to process the transfer might have charged a fee to process the transfer.
The beneficiary bank might charge a fee to credit the funds received into the beneficiary’s account.

What should I do if I do not receive funds sent from the remitting bank?

In such cases you can ask the remitting bank to provide a copy of the MT 103 message and fax it across to us at 0207 892 0818. You should also advise the remitter to send a TRACER message to the intermediary bank marking a copy to CITIGB2L (Attention LONHM).

CitiPhone will also be happy to assist you with this process.

How can I find out if my incoming funds have arrived?

Simply call CitiPhone on 0800 00 55 00 (if calling from within UK) or 0044 20 7500 5500 (if calling from abroad) or log onto Citibank Online.

Are there any fees applicable for incoming international fund transfers into Citibank-UK?

No, there are no processing fees for crediting funds into a Citibank-UK customer’s account. Please note the fund transfer fees applicable for outgoing funds transfers.

Can I check whether a person’s Citibank account is operational?

No. All customer account information is confidential. Please refer to our privicy policy.