Citibank Completely Suspends Global Transfer Service for Customers in Mainland China

On May 16th, Citibank China announced that the Global Transfer service will be completely discontinued from June 26th, 2022, and payee records will be automatically removed from Citibank China. In accordance with this, Citibank also announced that as of June 17th, 2022, customers will not be able to transfer funds to or from their U.S. Citibank accounts via the Citibank Global Transfer.

Customers can recreate a SWIFT transfer recipient from Citibank Online before the deadline. It is reported that Citibank Global Transfer service is an instant, zero-fee cross-border foreign currency remittance service that only supports foreign currency account transfer.

At present, 16 countries and regions around the world can provide instant remittance services to Citi China. It stated that SWIFT remittances take 72 hours or even longer, and some fees will be waived in order to reduce the impact on customers.

Translator: MOS Translation Team – Bright
Design&editor: Hbamboo

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