Fees for an outbound international transfer can range from $0 to $35, with the following fees applying to each account:Ĭiti Private Bank – Citibank® account package: WaivedĬiti Private Bank – Citigold® account package: WaivedĬitigold® Private Client International Account: WaivedĬiti International Personal Account: $30.00Ĭiti Global Executive Preferred Account: WaivedĬitibank charges inbound transfer fees for currency exchange and for receiving international money transfers: only Premium account holders are exempt from this charge.Ĭitibank also facilitates the use of peer-to-peer payment app, Zelle, for customers making domestic transfers. Transfer FeesĬitibank has different foreign transaction fee options depending on factors such as what type of bank account you have, where you are sending money and the size of your transfer. The Citibank exchange rates also automatically apply when you trade with the Citibank mobile app.
This is also known as an exchange rate mark-up. However, in order to make a profit, banks tend to present customers with an exchange rate which contains a hidden fee. Citibank Foreign Currency Exchange RatesĬitibank trades foreign exchange with other financial institutions using the mid-market rate. If you'd like to know more, check our guide on sending money to a foreign bank account. In this section we will run through Citibank exchange rates and transfer fees for international remittances and currency exchange services. Both can significantly affect how much money your payee actually receives, so understanding the fee structure and foreign exchange rate employed by your bank before locking in a transfer, is crucial. The most common charges associated with overseas bank transfers and foreign currency exchanges are foreign transaction fees and the margins added onto currency exchange rates, also known as mark-ups. Citibank has over 2,000 branches across the globe and enables an international customer base to send and receive money between 19 supported countries using foreign currencies. Meanwhile, Citigroup is better known for investment banking services, specialising in bigger business clients.ĬitiGroup has a large global presence, making Citibank a very popular option for customers looking to arrange secure international bank transfers between banks.
As a subsidiary of this global conglomerate, Citibank encompasses Citi's global branch network, the 4th largest in the United States.Ĭitibank offers personal checking and savings accounts, small business and commercial banking, and wealth management among its services.
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