New York, NY—(HISPANIC PR WIRE)–April 29, 2003–Citibank announced today the introduction of Citibank® Global Transfers, a unique, affordable, account-to-account real-time international and domestic funds transfer service for its consumer customers. Citibank North America banking customers using the Citibank® Online banking service or at most Citibank ATMs will be able to transfer funds between two Citibank accounts in the U.S., or between a Citibank account in the U.S. and a Banamex account in Mexico or a Citibank account abroad in over a dozen countries. Banamex, the leading bank in Mexico, and Citibank are both members of Citigroup.
During an introductory, promotional period through the end of May, 2003, there will be no transfer fee for Citibank Global Transfers originating in the U.S. Foreign exchange rates, attractively priced at approximately 2% commission over wholesale bank foreign exchange rates, will apply. Following the promotional period, the transaction fee for each transfer domestically and to Mexico will be $5.00. Transfer fees to other countries will be a low $10.00. Transfer fees are the same regardless of the amount being sent. The same foreign exchange rates will apply.
Citibank Global Transfers is especially appealing to people of Mexican descent living in the U.S. who wish to remit funds to friends or family members in Mexico. Funds may be transferred to a Banamex account where they will be instantly available. If the recipient does not have a Banamex account, he or she will soon be able to collect the funds in cash at any of the more than 1400 Banamex branches in Mexico. For added convenience, Citibank accepts the Mexican Consular ID when opening accounts in the U.S.
“Citibank is the only bank in the U.S. to offer a service like Citibank Global Transfers,” said Maura Markus, President of Citibank North America’s Retail Distribution Group. ”It’s offered both domestically and internationally and it’s done in real time. Consumers will appreciate the convenience and affordability of this service when they realize parents with a Citibank account in the U.S. can transfer money to the account of their child or relative in California, Spain or even India — instantly. People of Mexican descent working in this country can transfer money safely and securely from their U.S. account to their relatives’ and friends’ Banamex accounts in Mexico,” Ms. Markus added.
The service is available to all Citibank banking account customers through the award-winning Citibank Online. The Citibank Global Transfer service is also available at most Citibank ATMs. At this time, the service is not available at ATMs located in former California Federal Bank (Cal Fed) or European-American Bank (EAB) locations, both of which were recently acquired by Citibank. The service will be introduced at those locations later this year.
At either a Citibank ATM or Citibank Online, customers select the “Transfer or Payment” option on the screen, choose the location where they want to send the money from a list of participating Citibank locations, input the amount to be sent and the account number of the receiving account. The funds are then instantly transferred to the receiving account.
When sending money internationally via Citibank Global Transfers, the customer will know exactly how much will be credited to the receiving account before finalizing the transaction. Customers have the option of entering the U.S. dollar amount to be sent or the foreign currency amount to be received. They also have the option of sending a typed message with the transfer.
At this time, transfers from the U.S. are available to Citibank accounts in Mexico (Banamex), Belgium, Germany, Spain, France, the United Kingdom, Greece, Jersey, Monaco, Switzerland, Italy, Luxembourg and India.
Citibank consumer customers, including CitiGold® and International Personal Banking customers may transfer up to $3,500.00 per calendar day up to $10,500.00 per calendar week. Citigroup Private Banking customers may transfer up to $5,000.00 per calendar day up to $25,000.00 per calendar week.
For more information, visit http://www.citibank.com or call 1-866-801-4705 toll-free.
Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: http://www.citigroup.com.