Moving Money

Citibank makes it easy for you to manage your money around the world. Whether you're doing business in Europe or dealing with personal interests in Australia, you can send money overseas quickly, securely and conveniently. We offer two main methods of transferring money abroad:

• Citibank Global Transfers – offer you fee free¹ and immediate funds transfers to other Citibank accounts in over 20 countries worldwide. You can arrange a transfer via Citibank Online Banking, Citibank Card Banking Centers and Citibank ATMs.

• SWIFT transfers – a telegraphic transfer service that can be arranged by calling CitiPhone Banking or by visiting one of our branches, and allows you to send money to bank accounts almost anywhere in the world.

  Please note: To maintain the security of your account, we may contact you to confirm your request before processing it. Please ensure that your contact details are current and correct in case we need to contact you to confirm your request.

  You can update your contact details by signing on to Citibank Online Banking or by calling CitiPhone Banking on 0800 00 55 00 (or +44 207 500 55 00 if dialing from abroad).
  

Citibank Global Transfer

With this unique funds transfer service you can send money immediately and without fees¹ to Citibank accounts in the following countries:

You can transfer up to £10,000 in Sterling or in the currency of the recipient account every day (please note that some countries don’t allow you to transfer this amount). The service allows you to view the exchange rate before you complete the transaction.

If you are transferring between your UK Citibank Accounts, you can transfer up to $500,000 (or currency equivalent) per day.

Please note: In certain circumstances – for example, if you are making a withdrawal for a large sum of money – we will contact you to confirm your request before processing it. This is to maintain the security of your account and is designed to protect your interests.

Citibank Global Transfer is available through Citibank Online Banking and Citibank Card Banking Centers (located within UK branches of Citibank), 24 hours a day, 7 days a week. The only time it is unavailable is during system updates.

Citibank Global Transfers also allow you to instantly exchange currency between your accounts at competitive rates.

How to use Citibank Global Transfer with Citibank Online

• Under the “Transfers & Payments” section of Citibank Online, choose the “Transfer to a Citibank Account abroad” link
• Next, choose the account from which you’d like to transfer funds, then type the name of the Citibank account holder for whom you would like to send the funds and choose the location of the Citibank account abroad
• Enter the number of the recipient Citibank account abroad
• Then enter the amount you would like to transfer
• Confirm the details of the transaction, enter your e-PIN, click next and the transaction will be completed

¹ Citibank transfers have no transaction fee however a Citibank exchange rate will be applied if the transfer is made across currencies.

² Citibank Philippines may charge an off line receiver fee to its customers. The fee is government regulated Documentary Stamp Tax.

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Sending money abroad

This telegraphic overseas funds transfer service can be arranged in two ways:

• Call CitiPhone on 0800 00 55 00 (or dial +44 20 7500 5500 if calling from abroad)
• Make a request in-branch

View the Telegraphic Transfer details that you should provide when making a payment.

Your telegraphic transfer will be sent on the same working day, if you can provide the required information before the following cut-off times.

CitiPhone Funds Transfers:

Branch Funds Transfers:

Requests received after these times will be processed the following working day. There is a standard charge for this service. Find out more about our rates and charges.

As a general rule international funds transfers may take 1-5 working days to be credited to the beneficiary bank.  Citibank cannot guarantee the exact time taken as this depends on the local and beneficiary bank systems.

If you wish to send payments from the UK using SWIFT, please provide us with the following information:

• The full account name of the person or company you wish to pay
• Their bank account number
• SWIFT code / ABA number / BIC (Bank Identifier Code - Known in the UK as the bank sort code)
• Where possible, details of the correspondent bank used by the destination bank
• Where possible for euro transfers, the BIC Code and IBAN (if the destination currency is euro)
• The full name of their bank and full branch address
• The amount and currency to be paid
• Payment reference (if required)

Receiving money from abroad

Your Citibank account has been designed to give you fast and convenient access to your money. For maximum flexibility, funds in any currency can be received into your Citibank account in the following ways:

• Telegraphic transfers
• Bank drafts
• Personal cheques

We would recommend telegraphic transfers as the most reliable method of receiving funds from overseas, as cleared funds are credited to your Citibank account. Citibank uses an international transfer process called SWIFT⁵.

When receiving SWIFT telegraphic transfers, you must supply the bank or individual making the payment with the following information:

IBAN (International Bank Account Number)

Please quote your IBAN, which is noted at the top of your Citibank Monthly Statement. This IBAN is for International and European transfers only. If receiving monies from a payer in a European country you should pass your Citibank IBAN to the payer to quote as the beneficiary account number. If you are sending monies to a European country you should quote the relevant IBAN number on the funds transfer request as the beneficiary account number.

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International banks use a mutually agreed transfer service, known as SWIFT Transfers, to transfer funds to one another around the world. As a result, you can have funds transferred into your UK account from anywhere in the world quickly and easily.

As there may be more than one bank involved in transferring the money to your account, you may need to provide a number of different bank addresses and account details.

Depending on the country that that the transfer is being made from and the payment currency, you can see the details you may need to provide to your payee in the table below.

You may need to provide up to 5 different pieces of information when arranging to receive a SWIFT Transfer:

1. Receiving Currency - This is the currency the payment is being made in.
2. Beneficiary Bank - This is the bank the funds are sent to i.e. Citibank International plc
3. Cover Bank - Some foreign currency transfers will need an additional transfer bank account, which is Citibank UK's clearing bank for that currency.
4. Beneficiary Account - This is the Citibank UK account that your funds are transferred to before they are credited to your account.
   1. 4.1. For a CHAPS Transfer, this is your own account.
   2. 4.2. For a SWIFT Transfer, this is the account that is used prior to any foreign currency exchange taking place - i.e. if the incoming funds are in US Dollars but your account is in Sterling then the currency is changed here.
5. For further credit to - This is the final destination of the transfer i.e. your Citibank UK account number and sort code.

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