Citibank Wire Transfer: Everything You Need to Know

ByG. Dautovic
January 19, 2022

Citibank is a subsidiary of Citigroup, one of the largest financial institutions in America. In addition to the versatile financial products this bank offers, its clients can also benefit from fast online bank transfers: This global powerhouse offers customers numerous ways to send their funds around the world.

Whether they want to send money abroad or within the US, to a Citi account or those from other banks, Citibank will help its users.

However, this service is not cheap, especially if you want to send money internationally. Depending on the account type you have with Citibank, you will be charged certain fees. 

Our guide breaks down costs, outgoing limits, and transfer times for making a Citi wire transfer domestically and internationally.

Citibank Options to Transfer Money Online

At this moment, Citibank offers two options for its clients to send money: The first is Citibank Global Transfers, and the second is Online Wire Transfer Services.

Your choice depends on your Citibank bank account type, as well as where and to whom you want to transfer funds. Let’s take a look at both options:

Citibank Global Transfers

Whether you wish to transfer money internationally or across the states, Citibank global transfer is a wire transfer option for Citibank account holders who want to send money from their checking, savings, or money market accounts to another Citibank account.

This bank service is available for the US and the following countries: Australia, Bahrain, China, Hong Kong, India, Indonesia, Jersey, Korea, Malaysia, Mexico, the Philippines, Poland, Singapore, Taiwan, Thailand, the United Arab Emirates, the United Kingdom, and Vietnam.

If you want to send money to friends or family who already have Citibank accounts, this is the right option. You need to have the recipient’s personal information (name and surname) and account number to do the transfer.

The first thing you have to do is log in to your Citibank account, go to Transfers, and add the recipient’s details. Check the Citibank transfer limit allowed for this transfer option, type the amount you want to send, and click the Send button.

The bank will review your wire transfer first and then draw money from your account and transfer it to the recipient. Alternatively, if you prefer face-to-face banking, you can visit the closest Citibank branch and send money with a clerk’s help.

Opening a checking account, savings account, or money market account with Citibank is a prerequisite for this service. Luckily, the process is easy and can be completed through the bank’s website.

Online Wire Transfer Services

Citibank’s international wire transfer is your next option. This is the best choice for those with Citibank bank accounts who want to send money to a non-Citi account.

The service is available for one-time and recurring wire transfers in the US or abroad.

If you don’t know how to send a wire transfer to other domestic or international banks, Citibank provides a short explanation on the website. Generally, the procedure is the same with Citi Global Transfers.

You need to have an account at Citibank - checking, savings, or money market - and log in. The service can be completed in some physical Citibank branches, too.

To achieve a Citibank online wire transfer, you need to have the recipient’s bank information and the account number. There’s a difference between sending money to domestic and international non-Citi accounts.

If you send money to an account in the United States, you’ll need to know the recipient’s name, account number, bank name, and location. You also need to know the ABA routing number of the recipient’s bank.

The ABA routing number is a 9-digit code used to identify the bank inside the US where the recipient has an account. If you don’t know the ABA routing number, Citibank wire transfer has a routing number list for all banks in America.

When it comes to international wire transfers, the Citibank wire instructions are almost the same as for transferring money domestically. The only difference is that, instead of an ABA routing number, you need to know the SWIFT code of your recipient’s bank.

A SWIFT code is used for transferring money internationally. The recipient’s CHIPS UID (Clearing House Interbank Payment System Universal Identifier) is also required.

When it comes to Citibank wire transfer time, international transactions are completed in the same business day if you send the request before 5:15 p.m. ET.

How Much Does a Wire Transfer Cost?

Citibank’s wire transfer fee depends on the type of wire transfer service you need. If you want to send money to any Citibank account in America or to a Citibank international account in select countries, the service is free.

If you're going to send money to non-Citi accounts, the bank charges some fees. Depending on the account package you have at Citibank, the wire transfer cost will slightly vary:

Type of Account Domestic International Outgoing Limits Incoming Fee

Citigold® Private Client

Waived

Waived

No limit for transfers made in US Dollars

Waived

Citigold®

$17.50

$25.00

No limit for transfers made in US Dollars

Waived

Citi Priority

$17.50

$25.00

No limit for transfers made in US Dollars

Waived

Citi Private Bank - Citibank® account package

Waived

Waived

$50,000 per business day

Waived

Citi Private Bank - Citigold® account package

Waived

Waived

$200,000 per business day

Waived

Citigold® Private Client International Account

Waived

Waived

No limit for transfers made in US Dollars

Waived

Citigold® International Account

$10.00

$10.00

No limit for transfers made in US Dollars

Waived

Citi International Personal Account

$18.75

$30.00

$250,000 per business day

Waived

Citi Global Executive Account

$18.75

$30.00

$250,000 per business day

Waived

Citi Global Executive Preferred Account

Waived

Waived

No limit for transfers made in US Dollars

Waived

All other accounts

$25.00

$35.00

$50,000 per business day

$15.00

Citibank’s Transfer Limits

Citibank’s wire transfer limit also depends on your account package. For example, if you have a Citigold package, the daily limit is $2,000, while the weekly limit is $5,000 for the Citibank Global Transfers service. If you want to send money to a non-Citi account, other transfer limits will apply.

Citibank’s exchange rate depends on whether you’re buying or selling a currency. You can find the exact exchange rates by currency on the bank’s website or contact the support team.

Wire Transfers Available at Citibank

You can choose between several types of wire transfers with Citibank. 

For starters, you can send a one-time transfer to your family or friends. There’s also an option to set up recurring transfers, but it’s only available for sending funds to another Citibank account.

If you have a beneficiary, for example, they should open an account at Citibank or change their current bank.

A wire transfer through Citibank is exclusively bank-to-bank. Your recipients must have a bank account at Citibank or some other financial institution.

FAQ

How do I do a wire transfer on the Citibank app?

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You can send money on the Citibank app quickly: Once you log into your account, choose the Transfer option. After that, you need to provide information about your recipient’s bank and account, as well as specify the amount you want to send. Once all the blanks are filled, hit Send, and the money will transfer.

How long do Citibank transfers take?

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Citibank will transfer money to another account quickly, so your recipient can expect funds the same day you file a Citibank money order. If you want the transaction to complete on the same business day, you must confirm it before 5:15 p.m. (ET).

What is Citibank's daily transfer limit?

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It depends on the account package you have at Citibank. For example, if you are a Citigold Private Client, you will not have any daily limits on wire transfers.

About author

I have always thought of myself as a writer, but I began my career as a data operator with a large fintech firm. This position proved invaluable for learning how banks and other financial institutions operate. Daily correspondence with banking experts gave me insight into the systems and policies that power the economy. When I got the chance to translate my experience into words, I gladly joined the smart, enthusiastic Fortunly team.

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