Citibank N.a. SWIFT/BIC code

CITIITMX – the SWIFT/BIC code of Citibank N.a.

The 8-character code CITIITMX and the 11-character code CITIITMXXXX identify one and the same institution: Citibank N.a., with its head office in Milano. A BIC has a single purpose: it ensures that an international payment ends up at the right bank. It comes up mostly for payments that cross a border.

Below you will find the practical questions: money coming in from abroad, sending money abroad and how to verify the code before you confirm a payment. The SWIFT code on its own cannot identify a personal account; that is what the account number or IBAN .

What a transfer from Citibank N.a. abroad really costs

The price of an international transfer has several parts, and the transfer fee is only the most visible one. You pay the fee for the transfer itself, possibly charges from correspondent banks along the way and, above all, the exchange rate markup if the currency changes.

Many banks do not list their exchange rate markup separately. Check their rate with the mid-market rate – the rate you find on financial news sites. The difference is your real conversion cost.

For many routes, a specialist provider is less expensive than a bank. GoldexPay compares the amount that arrives across providers, so you can pick the cheapest route. You can always keep your account at Citibank N.a. to fund the transfer.

8 or 11 characters: CITIITMX versus CITIITMXXXX

A SWIFT code is made up of a few fixed parts: the first four letters stand for the bank, characters five and six show the country and characters seven and eight mark the location. Together, these eight characters form CITIITMX – the version you usually see online.

The 11-character version has three more characters that identify a branch or department. When those three characters are XXX, they simply mean the head office, so CITIITMXXXX and CITIITMX are interchangeable.

Type the code as one block, in upper case and without separators, exactly as shown here. A single letter can send the money to another bank, so check it twice.

What to give a sender who pays you at Citibank N.a.

A sender in another country needs a few details about your account – incomplete details often cause delays. In practice that means: your full name as registered with Citibank N.a., your IBAN or account number, the SWIFT/BIC code CITIITMXXXX (or CITIITMX) and sometimes your address.

It helps to include Citibank N.a. and Milano too, since some forms ask for it. A typo in the IBAN can be more trouble than it looks; copy them from your banking app rather than typing.

Money from abroad does not always arrive in full. Charges on incoming payments differ from bank to bank – the price list of Citibank N.a. tells you what applies. Agree with the sender who pays which costs, especially for larger amounts.

Before you send: check the Citibank N.a. code

Have the recipient send you the account details directly from a recent statement. If the code you have differs from CITIITMX or CITIITMXXXX, do not guess.

With a wrong code, the payment may get stuck, be returned or cost extra. A mistake in the account number is a bigger problem because it can reach the wrong person; check it just as carefully.

Many banking apps validate the structure of IBANs and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. Some banks now check the payee name against the account. When you pay someone new, some people start with a small amount first before sending the rest.

Euro (EUR) and conversion costs

Italy pays in the Euro, code EUR. If you send money in a different currency it has to be converted somewhere along the way: by your bank, an intermediary or Citibank N.a. itself. You rarely see a separate line for that conversion; it is built into the rate.

Which bank converts the payment matters. Sending the money directly in EUR usually prevents a second conversion by Citibank N.a. – as long as your own rate is good.

Rates for EUR change all the time, and some providers let you lock in a rate. With bigger transfers, a seemingly small difference in the rate adds up quickly.

Euro transfers to Citibank N.a.: is a BIC needed?

Italy is part of the Single Euro Payments Area (SEPA). When you send euros within SEPA, you normally only need the IBAN; many banks no longer ask for the BIC.

A SWIFT code like CITIITMX does come into play when the currency is not euros. A few forms also ask for the BIC; in that case, enter CITIITMX or CITIITMXXXX.

Instant payments in euros are widely available across SEPA – whether Citibank N.a. offers them for your account is worth checking. Fees for SEPA payments tend to be low, as long as no currency conversion is involved.

Protect yourself against fake payment requests

Scammers often use fake invoices with new bank details sent from what looks like a familiar address. A real SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Always confirm changed bank details through a phone call, using a number you already had. Be suspicious of time pressure, unusual wording or a sender address that is slightly off. If money has already gone to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

Scams also target the receiver: someone claims to have sent too much and wants you to return the extra to a new account. Do not act before the money is actually in your account.

Transfer times and tracking a payment to Citibank N.a.

How fast a payment reaches Citibank N.a. is determined by several factors: which currency you send, the number of banks in between, cut-off times and differences in time zone. Weekends and public holidays in the sending or receiving country add extra days. Extra checks by one of the banks can also cause a delay, regardless of the details.

Many banks use SWIFT gpi for faster and traceable payments. Every gpi transfer gets a unique transaction reference, the UETR. Keep the payment confirmation until the money has arrived – you will need it for any trace request.

If the money does not arrive within the expected time, the sender needs to contact the bank that sent it. As a recipient, it helps to check your account to see a partial amount because fees can reduce the amount.

A note on our data

The details on this page are taken from public sources that we update regularly. Banks merge, change names and change codes. The figures we show reflect our own data and not on information from Citibank N.a. itself.

Use our data as a reference, rather than as the last word: the recipient’s bank details come first. GoldexPay has no connection to Citibank N.a.. Found an error? Tell us through the contact page.

Citibank N.a.: head office code versus branch codes

Our directory lists 72 SWIFT/BIC codes for Citibank N.a., spread over 1 locations. Next to the head office code CITIITMXXXX, you will find codes for individual branches and departments.

In most cases there is no need to pick a branch: payments addressed to CITIITMXXXX reach Citibank N.a. correctly. Just use a branch code when the recipient gives you that exact code.

If you are not sure, ask the person you are paying which code their bank gave them. Codes for branches are more prone to be retired than the head office code.