Citizens Bank International Wire Transfer

Citizens Bank International Wire Transfer services offer a reliable way to send money overseas, whether for business payments, personal or study support or global transactions. Understanding the process, fees, and timelines ensures a smooth transfer experience with Citizens Bank.

This guide provides everything you need to know about Citizens Bank international wire transfers, including how to initiate them, associated costs, processing times, and tips to save on fees.

Why Choose Citizens Bank International Wire Transfers?

Citizens Bank offers several advantages for international wire transfers, making it a popular choice for both personal and business transactions. Here are the benefits of wire transfer with Citizens Bank:

• Robust Security: Advanced encryption and fraud prevention measures protect your personal and financial information.
• Global Reach: Access to a network of correspondent banks in over 100 countries simplifies transfers to various destinations.
• Multiple Currency Options: Send funds in over 125 currencies, reducing the need for costly conversions.
• Dedicated Support: A specialised customer service team is available to assist with any transfer-related queries.
• Flexible Initiation: Transfers can be initiated in person at a branch, ensuring personalised assistance.

Also Read: How to Transfer money using IBAN?

How to Make A Citizens Bank International Wire Transfer?

Initiating an international wire transfer with Citizens Bank is straightforward but requires specific information and steps. Below is a step-by-step guide to ensure a smooth process.

1. Gather Required Information: You’ll need the recipient’s full name, address, bank account number, and the recipient bank’s SWIFT wire transfer code or BIC code. An International Bank Account Number (IBAN) may be required for certain countries, such as those in the European Union.
2. Visit a Branch: International wire transfers must be initiated in person at a Citizens Bank branch. Online initiation is currently available only for domestic transfers.
3. Provide Transfer Details: Specify the transfer amount, currency, and purpose of the transaction to comply with regulatory requirements.
4. Review Fees and Exchange Rates: Confirm the applicable fees and exchange rates with a bank representative. Fees typically range from USD 30–USD 50, with additional costs for currency conversion.
5. Verify and Submit: Double-check all details for accuracy before submitting the transfer request. Keep the reference or confirmation number for tracking purposes.
6. Track the Transfer: Transfers typically take 1–5 business days, depending on the destination country and intermediary banks involved.

Required Information for Citizens Bank International Wire Transfer

Initiating or receiving an international wire transfer through Citizens Bank requires specific details to ensure a secure and timely transaction. Whether you’re sending funds abroad or expecting money from overseas, having the correct information is crucial to avoid delays or errors.

Required Information for Sending a Transfer

To initiate an international wire transfer from your Citizens Bank account, you’ll need:

• Recipient’s Details: Full name and address as registered with their bank.
• Bank Information: Recipient’s bank name, address, SWIFT/BIC code, and account number (or IBAN, if applicable).
• Transfer Details: Amount, currency, and purpose of the transfer.
• Your Details: Your full name, address, and Citizens Bank account information, including the branch routing number.

Receiving an International Wire Transfer

To receive an international wire transfer into your Citizens Bank account, provide the sender with:

• Your Bank Details: Citizens Bank’s name, address (211 Third Street, Elkins, WV 26241 for Citizens Bank of West Virginia, for example), and SWIFT code.
• Your Account Information: Your full name, address, and account number as shown on your bank statement.
• Routing Number: The appropriate routing number for your Citizens Bank branch.

Citizens Bank International Wire Transfer Fees

Understanding the fee structure is crucial to avoid unexpected costs. Below is a detailed breakdown of the fees associated with Citizens Bank international wire transfers, based on the latest available data.

Service	Transfer Fee	Notes
Outgoing international wire (USD to foreign currency)	USD 30–USD 50	Includes possible exchange rate markup and intermediary bank fees.
Outgoing international wire (USD only)	USD 35	Additional intermediary bank fees (USD 10–USD 100) may apply.
Incoming international wire	USD 12.50 (customers), USD 50 (non-customers)	Fees vary by account status.
Stop payment	USD 20	Applicable for canceling a transfer within 30 minutes, if possible.
Chargeback/return	USD 25	Charged if the transfer is returned or fails.

Exchange Rate with Citizens Bank Wire Transfer

Citizens Bank applies an exchange rate markup, typically 5–7% above the mid-market rate, which can significantly increase costs, especially for less-traded currencies like the Indonesian rupiah or Nepali rupee. For major currencies (e.g., EUR, GBP, SGD), markups are generally lower. Always check the exchange rate at the time of transfer to understand the total cost.

How Long Does Citizens Bank International Wire Transfer Take?

International wire transfers with Citizens Bank typically take 1–5 business days, depending on factors such as:

• Destination Country: Transfers to countries with advanced banking systems (e.g., UK, Canada) are often faster.
• Intermediary Banks: Additional banks in the SWIFT network may delay processing.
• Cut-Off Times: Transfers must be initiated before 5:00 PM ET for same-day processing; otherwise, they are processed the next business day.
• Compliance Checks: Regulatory requirements, such as KYC or anti-money laundering checks, may extend processing times.

To ensure timely delivery, submit your transfer early in the day and verify all recipient details to avoid delays.

Must Read- HDFC International Wire Transfer 

Tips to Save on Citizens Wire Transfers

Citizens International wire transfers can be costly, but you can minimise expenses with these strategies:

• Compare Providers: Non-bank services like Wise or Remitly often offer lower fees and better exchange rates than traditional banks.
• Choose the Right Currency: Sending funds in the recipient’s local currency can reduce conversion fees.
• Verify Details: Incorrect recipient information can lead to return fees or delays. Double-check SWIFT codes and account numbers.
• Ask About Fees: Clarify all potential fees, including intermediary bank charges, with your branch representative.
• Consider Alternatives: For smaller transfers, peer-to-peer platforms like Zelle (domestic only) or PayPal may be cheaper, though less suitable for large sums.

Citizens Bank offers a reliable and secure option for international wire transfers, with access to over 125 currencies and a global network of correspondent banks. While the in-person initiation process ensures personalised service, fees and exchange rate markups can add up. By understanding the process, verifying details, and exploring cost-saving alternatives, you can make informed decisions for your international transactions.

FAQs on Citizens Bank International Wire Transfer

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