In this article I’ll be telling you all about the Citibank swift code. But before that, what is Citibank?
What is Citibank?
Citibank is a division of the financial services multinational company, Citigroup.
The bank was founded in June 1812 as The Citibank of New York and later became First National City Bank of New York. Citibank has over 2649 branches in 19 counties, including 723 in the United States.
Now that you know a little bit about Citibank, let’s dive right in to the topic of today. “What is the Citibank swift code”
What is the Citibank swift code?
If you really want to know your swift code to enable you move funds easily via a wire transfer to a U.S based Citibank account, you can find your answers in the frequently asked questions on the Citibank website which notes that you should use CITIUS33 for that purpose.
I can’t list all the Citibank Swift codes in this post so you can use the BIC/SWIFT website, which has a list of over 200 swift codes that are related to Citibank.
That’s because the bank uses different Swift/BIC codes for its different institutions around the world.
This also applies to the type of currency being transferred. So in that website, finding the particular swift code you need would be pretty easy.
What is the difference between swift code and BIC?
There’s really no difference between a swift code and BIC, BIC stands for “Bank Identification code”.
It is also a 8 – 11 digit code, just like your swift code. So they are practically the same, just bearing different names.
What the difference between swift code and IBAN?
Some people always confuse swift code with IBAN. Well they are not the same. IBAN stands for “International Bank account number“.
It is used to identify a specific bank account in a banking institution. In simpler words, imagine you’re going to see a friend in a hotel, and you don’t know the way so you ask for directions.
Swift codes acts as the road path or pathway to the hotel while IBAN will help you identify the room number of the room that person (friend) you came to see is lodging in that hotel.
Does it make sense now?. IBAN is not used in all countries.
For instance, you’ll need an IBAN to transfer money to someone in any country in Europe, but it will not be required for payments in the US.
Conclusion: Citibank Swift Code
Hope you found your Citibank swift code?. Please don’t forget to like comment and share to family member and friends. Till next time.