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| Home>Accounts>Payments |
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| Paying suppliers in time and in a cost efficient manner is crucial in today's competitive business environment. Our advanced payment processing systems and our global coverage ensure that your payments reach the intended recipients in the shortest time. You can initiate both Local Currency (LCY) and Foreign Currency (FCY) funds transfers from your accounts with Citibank. |
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| Benefits Citibank brings you |
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- Competitive cut-off times ensure you have enough time to decide which payments to make from available funds;
- Various methods are available for submitting payment instructions to Citibank, enabling you to use the most convenient for you;
- Citibank's direct membership in the LCY clearing systems ensures remitted funds reach beneficiaries without delay;
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| Citibank's global network and correspondent banking relationships provide you with excellent quality and speed in funds transfers. |
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Local currency transfers |
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| Types of local currency transfers |
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- Internal Transfers:
- Internal transfers between accounts held with Citibank are processed immediately
- Outgoing Funds Transfers:
- The transferred amount is credited the next working day on the beneficiary's account as long as your payment instruction reaches Citibank before cut-off time
- VIBER (real time) transfers:
- A transfer method used in case of high value transactions
- It ensures an intra-day transfer, thus fund reaches beneficiary the same day you initiate the transaction as long as your payment instruction reaches Citibank before cut-off time
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| Special services related to Forint transactions Foreign Currency Transactions |
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| Foreign currency transactions |
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- If no conversion is needed, the funds reach the beneficiary bank the next business day following the receipt of your payment instruction by the bank.
- In case a conversion is needed, funds reach the beneficiary bank on the 2nd business day following the receipt of your instruction by the bank.
- In case you need to make a payment urgently, you can reduce the number of days required for the conversion by using Citibank's Quick FX product.
- Foreign currency transactions
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