Citibank launches online money transfer service

Citibank announced the launch of Citi Online Remit. The new online money transfer service provides Non Resident Indians (NRIs) the possibility to transfer funds to India from any US Checking/Savings account. Money transfer in the system is also possible through a US Credit/Debit Card as a direct transfer into the beneficiary’s Bank account or as a draft couriered to the beneficiary’s mailing address in India. The platform is powered by the QuikRemit platform from Citi’s Global Transaction Services.

At the times when the average value of remittances is increasing, Paul Galant, CEO of Citi’s Global Transaction Services, highlighted that the service is aimed at offering “a fast, safe, and secure platform for cross-border money transfers.” This is being achieved through a wide range of built-in security features, including Online Identity Verification, Multi-Factor Authentication, Global IP tracking and Account authentication. Besides, an online tracking system enables NRIs to follow their transaction at every stage of the transfer process. Regular 24/7 customer service on phone and online are also offered.

The Citibank NRI Business offers a wide range of money transfer services globally with eight major regional hubs in USA, Canada, UAE, UK, Australia, Kenya, Singapore, and Bahrain. The service manages assets exceeding US$ 6 billion and has 200,000 customers. The NRI Business account domiciled in India is denominated in Rupees, under the aegis of Reserve Bank of India. To ease the life of global Indians who have been customers of Citibank NRI Business for more than two decades, the bank offers such services as the Citibank Rupee Checking Account, international ATM and Debit cards and an unparalleled service in draft delivery to beneficiaries in India.