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Wire transfer is the fastest mode of receiving money in your Citibank account. You can receive money from within USA (Domestic Wire Transfers) or from a foreign country (International wire transfer). The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.

International Wire Transfer to Citibank

International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in USA) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.

Note: Banks in USA don’t use IBAN account number.

High-wire transfer fees. Prepare to pay a fee when you send money by wire transfer to a non-Citibank account. Transfer limits. Depending on your account type, single-time transfer allowances is typically limited to $50,000 a day. Bank of america wire transfer form Direct Deposit Transfer Form If you have regular direct deposits to your account (such as paychecks, dividends or U.S. Treasury payments) you will want wire wire format WIRE TRANSFER REQUEST (DOMESTIC) PLEASE PRINT CLEARLY IN CAPITAL LETTERS THE REQUESTED INFORMATION, sign the form. The tips below will help you fill in Citibank Wire Transfer Form easily and quickly: Open the form in the full-fledged online editor by clicking Get form. Fill in the required fields that are colored in yellow. Hit the green arrow with the inscription Next to jump from box to box. Citibank international wire transfer fee Citibank clients can send money to other Citibank accounts around the world for no upfront fee. However, there is a charge wrapped up in the exchange rate used, which can push up costs. A Wire Move Authorization and Contract form can be obtainable through the Citibank website that you can download, print out and hand in at a regional Citibank area. The cable transfer fee varies based on what kind of Citibank accounts you have got and whether it is certainly an international or local transfer.

Incoming International Wire Transfer Instructions

To receive international wire transfer in your Citibank account, please use the following wire instructions:

Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. We recommend services like TransferWise for getting best conversion rates and lower wire transfer fees.

Domestic Wire Transfer to Citibank

Domestic wire transfers are run through either the Fedwire system or the Clearing House Interbank Payments System (CHIPS). Wire transfers are different from ACH transfers. Wire transfers are real time transfers (receiver usually get the money, same day) and costs more than ACH transfer (which takes 2-4 days for transfer of money).

Citibank Wire Transfer Instruction Form

Incoming Domestic Wire Transfer Instructions

You can receive funds to your Citibank account from any bank within USA using domestic wire transfer. You need to provide the following details to sender of the funds who will initiate the domestic wire transfer through his/her financial institution.

Wire Transfer Fees for Citibank

International and Domestic Wire Transfer Fees for Citibank are as follows:

Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.

Sending Wire Transfer From Citibank

To transfer funds to an International/Domestic account from your Citibank account, you need to fill Wire Transfer Request Form.

1. Complete all fields on this form as per Wire Transfer Instructions.
2. The completed and signed Wire Transfer form can be provided to any of Citibank Branch.
3. Keep the Wire Transfer Disclosure for your records.
4. Wire transfer requests must be received and confirmed by cut-off time of Citibank.
5. There is a fee for sending a wire transfer.

Note: For international wires requested after Citibank daily cut-off time, due to fluctuations in the foreign exchange rates, international wire transfers for amounts other than U.S. currency will be estimated and processed on the next business day at the foreign exchange rate valid at that time.

Wire Transfer Cut-off Time for Citibank

1. Wire transfer daily cut-off time for International wire transfers is 5:15 p.m. ET
2. Wire transfer daily cut-off time for Domestic wire transfers is 6 p.m. ET
3. Requests received after cut-off time will be processed the next business day.

Citibank account holders can send money directly to bank accounts around the world using wire transfers, or Citibank’s other specialist services.

The account type you hold, as well as the specific detail of the transfer you need to make, will dictate the fee you pay. This guide runs through all you need to know, and also introduces Wise as a smart alternative when sending payments overseas.

Citibank Wire transfer fee

You can send money domestically and internationally with Citibank. There are different ways to set up your payment depending on where you’re sending to, including which bank holds the account you want to transfer into.

Here are the fees you need to know about:

Citibank local transfer fee

You’ll have different options - and different fees - depending on the specific transfer you need to make.

If you’re sending money to a US based account in your own name, even with a different bank, you should be able to use the Citibank Inter-institution Transfer service for free.

If you’re sending money to someone else who also has a US based Citibank account, you can choose the Citibank Global Transfer option, which is also fee free.

However, if you’re sending money to someone else in the US, and they don’t have a Citibank account, you’ll need to use the wire transfer service. This may mean you pay a fee, depending on the account type you hold.

Generally, accounts offered under the Citigold Private brand, Citi Private Bank accounts and Citi Global Executive accounts have fee waivers for local transfers. Other account types will pay a fee, which ranges from USD10 - USD25.

Citibank International Wire Transfer Form

Citibank international wire transfer fee

Citibank clients can send money to other Citibank accounts around the world for no upfront fee. However, there is a charge wrapped up in the exchange rate used, which can push up costs. We’ll cover that in a moment.

If you’re sending a wire to someone without a Citibank account you may need to pay a fee, and may also have costs added to the exchange rate offered if you’re converting currency as part of the payment. As with local transfers, accounts offered under the Citigold Private brand, Citi Private Bank accounts and Citi Global Executive accounts don’t charge upfront fees for international transfers. Other account types have fees which range from USD10 - USD35 per transfer.

Citibank Wire Transfer Authorization And Agreement Form

Citibank currency exchange rate

If you need to send money through Citibank to an account held in a different currency, you’ll pay an additional fee as part of the exchange rate offered. Here’s what Citibank says in their transfer terms and conditions:

“If the transfer is made in foreign currency, the exchange rate includes a fee for the currency conversion.”

What this means is that Citibank will add a markup or margin to the exchange rate they use to convert your USD to the currency you need to deposit. This is not unusual, but can mean you pay more than you’re expecting for your international transfer or wire. To avoid exchange rate fees, choose a provider which uses the mid-market exchange rate - the same rate you’ll find on Google. This makes it easier to see the true cost of your transfer, and can cut the price you pay overall.

Wise: the alternative that uses the mid-market rate

Your bank isn’t the only option when it comes to sending an international transfer. Using a third party can be just as simple - and often cheaper and faster too.

Try Wise for low-cost international payments which use the mid-market exchange rate with no markup. You only ever pay a simple, transparent fee for your transaction, and can see exactly what your recipient will get before you confirm the payment.

Check out Wise for more information and a helpful comparison table showing how Wise international payments stack up against other major providers.

Citibank Wire Transfer Form

How to make an international wire transfer with Citibank?

The simplest way to make a Citibank international wire is to set the payment up online. Simply log into your online banking and follow the prompts to enter the required information. Review the costs including the exchange rate markup which is applied, and confirm the payment to get started.

How long does a wire transfer with Citibank take?

Wire payments are processed on the day they’re received, as long as they’re submitted by 5.15pm ET on a normal banking day. After that time, or on non-working days, payments will be processed on the following banking day.

Citibank Wire Transfer Application Form

The length of time it takes for your payment to be received depends on the destination country and the processes in place at your recipient’s bank. You can expect a wait of 1 - 3 days, or more if there are local holidays or processing delays.

How To Send Wire Transfer Citibank

Citibank Wire transfer information

To set up a Citibank international wire you’ll need to know:

• The recipient’s name as shown on their bank account
• Name and address of the recipient’s bank
• Recipient’s account number
• Recipient bank’s BIC/SWIFT code

Citibank Wire Transfer Form

Depending on the destination country you might also have to provide some additional details like an IBAN or sort code, and confirm the reason for the transfer.

How to receive a wire transfer

To receive a wire transfer, you’ll need to make sure the sender has all the information they need to get the money to your account safely. This will include your name, bank account number, branch address, and other details such as a routing number for domestic payments, or SWIFT code if the money is coming from overseas.

Check the details are all complete and correct because wire transfers which are sent using the wrong information can end up being delayed or returned to the sender.

Citibank incoming wire fee

Some account types come with a fee waiver for incoming transfers. If your account does not have a waiver, you’ll pay USD15 per incoming wire.

Citibank offers customers a few different ways to send money to other accounts, including free transfers to accounts in your own name within the US, and to other Citibank accounts globally. However, the account type you hold will make a big difference if you’re sending a Citibank wire, with fees waived or reduced for some accounts.

Don’t forget that even if you qualify for a fee-free international transfer, you’ll still pay a fee which is included in the exchange rate applied to your transfer. Avoid this by choosing a third party provider like Wise to set up the payment instead. You’ll benefit from the real exchange rate with no markup, and only a low transparent fee which could mean you save.