NRI Funds Transfer for International Transaction- Blog

Inward Remittance

To remit funds from your overseas bank account to NRI Account with Citibank India, choose an option below that suits you best based on your country of residence.

a) International Wire Transfers : Click here to visit the page for respective NOSTRO & SWIFT details which you can provide to your overseas bank account to wire funds to your Citibank NRI Account.

b) Automated Clearing House(ACH) Transfers( for US customers only) : Using ACH network in the US, a customer can remit money from his US bank account (source account) to his India NRI Rupee checking account.

Click on ACH remittances tab below for step-by step guide to get started with ACH transfers

Outward Remittance

International Wire Transfers : facility allows you to wire funds from your Citibank NRI Account to your overseas bank account. It normally takes 2-3 business days to complete the transaction after your overseas bank has initiated it.

Click on Wire Transfer tab below for step-by step guide to get started with funds transfer

You may see Screen 1 or screen 2, depending upon whether or not you have a linked deposit to your Citibank NRI account. Please refer either screen1 or screen 2 as per the screen appearing on your respective system.

Step 1

Screen 1

Log in to Citibank account -> Banking -> Transfer funds -> Transfer to third party account-> select "Add payee"

Screen 2

Log in to Citibank account -> Banking -> Transfer funds -> International Money Transfer -> Click on Add New Payee

Step 2

Screen 1

Select Outside Citibank Network -> To any bank account across globe -> Enter Payee details -> click Submit.

Screen 2

You will be directed to the Add new payee screen. Enter details & Click Next

Refer the note section to avoid mistake

NOTE

Payee Name : (Name of the Payee must be exactly as per the beneficiary bank records)

Account number/IBAN number : (Account number of payee)

Please provide IBAN number and not account number for all transactions wherever IBAN is mandated by beneficiary bank. Non-submission will result in return of funds, including from the beneficiary/correspondent bank, leading to possible FX loss and/or charges

Payeee Bank name , Payee Branch & Address : (Name, Branch and Address of the bank where the payee has account)

City : (City where the bank branch is located)

Country : (Country where the bank operates)

Swift Code/ ABA code/Sort Code :

  • Swift Code is required for International Transfers, not applicable for transfers within India.
  • ABA code is required to remit funds to accounts registered in US only.
  • Sort code is required to remit funds to accounts registered in GBP only.
  • However it is recommended to use SWIFT code only for International wire transfer.

Address : (Personal Addresses and Zip Codes of the Payee)

Step 3

Select checkbox to receive One Time Password -> Click Confirm

Step 4

On receiving OTP, click on "Authorize Payee Now"

Step 5

Enter 6 digit OTP & Click Authorize Payee Now. If OTP is sent both as sms and email then mention accordingly.

CONGRATULATIONS

You have successfully added a new payee for international fund transfer

You may see Screen 1 or screen 2, depending upon whether or not you have a linked deposit to your Citibank NRI account. Please refer either screen1 or screen 2 as per the screen appearing on your respective system.

Step 1

Screen 1

Log in to Citibank account → Select Banking → Transfer Funds → Transfer to third party account → select Make Payment Now against the required beneficiary

Screen 2

Log in to Citibank account → Select Banking → Transfer Funds → International Money Transfer → Go to Registered Payee List → Click Make Payment Now

Note: For Wire Transfers the payee Type of Transaction should be International Money Transfer.

NOTE

  • In a 24 hour period, you will be able to add up to 6 Payees across all your linked accounts.
  • For a new payee, you will be able to initiate transfers only after an initial cool-off period of 24hours. You will be able to initiate a transfer upto a maximum of Rs.50,000 foreign currency equivalent during this period.

Step 2: Enter Payment details & Click Continue

Screen 1

NOTE

Transaction limits applicable if you have a linked deposit to your Citibank NRI account.


Citigold Per Txn USD 20000
Daily INR 7,500,000
Non- Citigold Per Txn USD 20000
Daily INR 2,500,000

Screen 2

NOTE

Transaction limits applicable If you are a Citibank Rupee Checking account customer only


Citigold Per Txn INR 7,500,000
Daily INR 7,500,000
Non- Citigold Per Txn INR 2,500,000
Daily INR 2,500,000

Step 3

Screen 1

Select from list of accounts from which you wish to transfer funds from & select continue. In the next screen that appears, enter the amount to be debited in target Currency & click continue to proceed

Screen 2

Read and accept the Terms & Conditions → Click Confirm to proceed with payment

Congratulations you have succesfully completed wire transfer!!

Screen 1

Screen 2

You can avail the facility of Citibank ACH remittances without any additional processing fee in 3 simple steps mentioned below:

Step1 :To register your U.S. Source Account. If you have already registered and verified your US bank account, then please go to step 3 directly.

i) Login Citibank Online Account (CBOL) using your Username and Internet Password (IPIN).
Don't have CBOL access, Click here to know more Click on Banking → Remit → From US

ii) Next under 'Remittance' → Click here

NOTE

Name on your US bank account must match with your India NR RCA account.

iii) Please ensure to provide correct details for your U.S. Bank Account, Name on your US Bank Account, Name of the Bank, Type of Account, ABA number & Address. Read Term and Conditions & select T&C tab → Continue

NOTE

Please ensure your US source account is sufficiently funded, not placed under any restriction & is in active status.

iv) Finally as the last step → Verify all the details → 'Confirm'

v) A 'Registration Process Initiated' tab will appear post completion of Step 1

NOTE

This facility can only be used to transfer funds from your US Bank account to your Citibank Rupee Checking Account, where you hold both the accounts.

Congratulations for completing Step 1, now welcome to step 2!
Step 2: To Verify Registered Account

Please note :

  • Your U.S. source account will be credited and debited with a 'Sub-Dollar test amount', within 2-4 working days from registering the account.
  • Please refer to Whats Next section, as highlighted on right hand side

i) Post receiving the e-mail alert (as mentioned in the What's Next section),immediately log on to your U.S. source account and take note of the sub-dollar transaction amount.
Next, log on → Citibank online banking account → Banking → Remit → From US → click 'verify now'

ii) Under 'Action'→ 'Verify Now',(corresponding to the account you need to Verify)

iii) Enter the exact sub-dollar amount for which 'Sub-Dollar test' was done on your U.S. source account → click 'Continue'.

NOTE

It is important to ensure that you enter the correct verification amount. If you do not enter the correct amount within 3 times, for your protection, your Source Account will get blocked and you will not be able to complete the registration proces. In such a case, de-register your account and register again.

iv)Verify details → click 'Confirm'.

v) The transaction amount entered will be verified with your source account in2-3 working days post which you can start remitting funds to your rupee checking account. In case the amount is still not verfied please reach out to CitiPhone.

NOTE

You can register multiple US Bank Accounts as Source Accounts but you will not be able to register the same US Bank Account for multiple Citibank Rupee Checking Accounts.

Congratulations!! You have successfully completed the verification process of your registered U.S. source account. You can now use this to transfer funds.

Welcome to the Last & Final Step.
Step 3: To Remit funds from your U.S. Source Account to your Citibank Rupee Checking Account

i) Banking → Remit → From US → Remittance → click 'Remit Now'

ii) Please enter the required details and click on 'Continue'.

NOTE

A. 'Assured Rate Remittance' advantages:

  • You can enjoy a confirmed exchange rate at the time of your remittance.
  • The rate applicable to your fund transfer will be informed prior to initiation of your fund transfer(under Application Exchange Rate tab)
  • All transfers through the Automated Clearing House Transfers are executed based on the information provided by you. Citibank will not be responsible for incorrect details provided.

B. Transaction Limits for ACH Transfers

Frequency Min(USD) Max(USD) No of transactions
Per Txn 500 USD 30,000 -
Daily 500 USD 30,000 Max 1 txn per day
Fortnightly 500 USD 100,000 Max 4 txn per fortnight
Monthly 500 USD 150,000 Max 8 txn per fortnight

iii) Verify transfer details → Read & accept the Term and Conditions → Select Please ensure that your US account is active and funded tab → 'Confirm'

Hurray!! You have successfully completed a fund transfer from your U.S. source account to your rupee checking account.You have availed of this facility at competitive exchange rates, without any additional processing fee.

NOTE

  • Prior to initiating an ACH Transfer, you will see a pre-confirmation screen including details of the transfer amount, fees and taxes if any, exchange rate for this transfer and the date when your funds will be available for use.
  • You will also receive a confirmation of this remittance with these details to your registered email address.
  • Citibank reserves the right to accept or reject a remittance to your Rupee Checking Account through ACH Transfers.
  • If you have any queries on your current or past ACH transactions, please reach out to CitiPhone.