The most effective subsidiary of Citigroup, Citibank is one of the most popular as well as largest financial institutions in the United States. Apart from offering some versatile financial products, the bank transfer process is also comparatively faster. This is why many people consider choosing Citibank. Thanks to this global powerhouse, customers are able to transfer money through numerous modes. Whether you have plans to send money from one state to another, abroad, a Citi account, or other banks, Citibank will always help the users. But keep in mind that services provided by Citibank won’t come cheap, especially when you want to transfer money to a different country. Depending on the Citibank account you have, you need to pay certain fees. To know more about Citibank international wire transfer, keep reading.
Why You Should Choose Citibank to Transfer Money?
Many people assume why they need to prioritize Citibank over the other money-transferring options. To ease their confusion, here are a couple of benefits of transferring money through Citibank:
- If you want to send money to someone who is also a Citibank customer or has an account with Citibank, you don’t need to pay any transfer fees.
- The process is extremely simple as well as convenient. Sending money from your online account is just a matter of seconds.
- The transfer speed is also super fast. Most of the time, the money will be credited to the Receiver’s account on the same day.
Also Read: How Can You Pay Student Loan While Working Abroad?
How Many Options Are There to Transfer Money Through Citibank?
Citibank offers two different types of money transfer options for their clients and customers. The first one is Citibank Global Transfers and the other one is the Online Wire Transfer Services.
Keep in mind that you need to make a choice as per the Citibank account you have. Not to mention, the location to which you’re sending the money will also have a massive impact.
Citibank Global Transfers
Whether you want to send money across the state or internationally, Citibank Global Transfers is one of the most effective ways for people who want to send money from their savings, checking, or money market accounts.
Apart from the United States, the services are also available in other countries such as Poland, China, Indonesia, India, Australia, Thailand, the United Kingdom, Singapore, Vietnam, Mexico, Malaysia, Korea, and many more.
This option will also prove super beneficial if you want to send money to someone who already has a Citibank account.
Online Wire Transfer Services
This is another money transfer option from Citibank that you need to consider. This option is perfect for people who have a Citibank account but want to send money to someone who doesn’t have an account on Citibank.
Thanks to this option, people will be able to either send money one time or follow the recurring process. If you don’t know the perfect process of transferring money with the help of this option, consider checking their website where they have a detailed guide.
Also Read: What is Domestic Wire Transfer?
How Much Do You Need to Pay for Wire Transfer?
The wire money transfer fee of Citibank will depend on multiple factors such as the type of wire transfer you choose as per your needs. If you have plans to send money to another Citibank account across the state or internationally, you don’t need to pay anything for the service.
If you’re looking for ways through which you can transfer money without paying a significant amount of fees, consider Fly Finance.
However, if you send money to a non-Citibank account holder, you will need to pay certain fees. The fees of the wire transfer will vary depending on the account package you choose.
| Account Type | Domestic | International |
| Citigold Private Client | Waived | Waived |
| Citigold | USD 17.50 | USD 25 |
| Citi Priority | USD 17.50 | USD 25 |
| Citi Private Bank – Citibank account package | Waived | Waived |
| Citigold Private Client International Account | Waived | Waived |
| Citi Private Bank – Citigold account package | Waived | Waived |
| Citigold International Account | USD 10 | USD 10 |
| Citigold International Personal Account | USD 18.75 | USD 30 |
| All Other Accounts | USD 25 | USD 35 |
What are the Transfer Limits?
This is one of the most important things you need to know about Citibank international wire transfers. The transfer limit of Citibank will depend on the account you have. For instance, if you choose a Citigold package, you won’t be able to send more than $2,000 daily. On the other hand, Citibank’s global transfer service has a limitation of $5,000 daily. Not to mention, the transfer limit will also change if you want to send money to a non-Citibank account user.
Depending on your intention of either selling or purchasing a currency, the exchange rate of Citibank will also depend. Consider checking the website of the bank to know more about the currency exchange rates.
Must Read: What is SWIFT Wire Transfer?
FAQs
If you have a valid account in Citibank, the bank will let you conduct both domestic as well as international money transfers.
Here are important pieces of information you need to transfer money through Citibank:
The name of the recipient
The location, name, and country of the recipient’s bank
The SWIFT code of the recipient
The account number of the recipient
The self-account transfers have a daily limit of INR 100,000.
This is everything you needed to know about Citibank international wire transfers. If you want to achieve your study abroad dreams, consider contacting Leverage Edu.
