Citibank, N.a. SWIFT/BIC code

SWIFT/BIC code of Citibank, N.a.

The short code CITIPAP1 and the 11-character code CITIPAP1XXX identify one and the same institution: Citibank, N.a. in David, Panama. Every bank on the SWIFT network uses BIC codes to route international transfers to the right bank. In practice you mostly come across the code on international invoices, in your banking app and in the bank details of Citibank, N.a. customers.

Further down you will find the practical questions: money coming in from abroad, paying someone in another country and how to verify a SWIFT code before you confirm a payment. The SWIFT code on its own cannot identify an individual account holder; that is what the account number or IBAN is for.

How long does an international transfer to Citibank, N.a. take?

A SWIFT payment usually needs one to a few business days. Transfers sent late in the day or just before weekends and holidays usually go out a business day later. Extra checks on larger or unusual payments can also cause a delay, regardless of the details.

When a payment takes longer than expected, contact the sending bank for the status and the transaction reference. Save the payment confirmation – you will need it for any trace request.

A delayed transfer is traced by the sending bank, using the payment confirmation. On the receiving end, you can look at your statements to see a slightly lower amount, since fees may have been deducted.

Choosing between the 3 SWIFT codes of Citibank, N.a.

Citibank, N.a. uses 3 different SWIFT/BIC codes across 3 locations. Only one is the head office code, CITIPAP1XXX; the rest identify branches or departments, and sometimes specific services.

For most payments to a private or business account, the head office code CITIPAP1XXX works fine. Only use a branch code when the account holder gives you that exact code.

If you are not sure, ask the person you are paying which code their bank gave them. Codes are sometimes changed or retired when banks reorganise.

What the XXX in CITIPAP1XXX means

The structure of every SWIFT code is always the same: a bank code of four letters, a two-letter country code and a two-character location code. The result is CITIPAP1.

The long version has three more characters that identify a branch or department. If the last three are XXX, they simply mean the head office, so CITIPAP1XXX and CITIPAP1 are interchangeable.

Type the code as one block, in capitals and without spaces, exactly as shown here. Copying the code is safer than typing it by hand: a typo can point to another bank.

Receiving money from abroad at Citibank, N.a.

Someone abroad who wants to pay you will ask for a few details from you – incomplete details often cause delays. What they need is: the account holder’s name, account number or IBAN, CITIPAP1XXX or CITIPAP1 and in many cases your home address.

You can add Citibank, N.a. and David as well. A typo in your account number can be harder to fix than it looks.

What lands in your account is often lower than what was sent. Charges on incoming payments differ from bank to bank; check the price list of Citibank, N.a.. Agree with the sender who covers the fees, especially for larger amounts.

About this information

The codes here come from public sources that we update regularly. Institutions reorganise, close branches and retire codes – a directory can be a step behind. The figures we show reflect what is in our directory and not on information from Citibank, N.a. itself.

Use this page as a starting point, rather than as the last word: the recipient’s bank details come first. GoldexPay has no connection to Citibank, N.a.. If you notice a mistake, we welcome a short note.

Watch out for payment fraud

One of the most common tricks works like this: you receive a message saying that a supplier now has a new bank account and asking you to pay there from now on. The fact that CITIPAP1 exists does not mean that a request mentioning it is genuine – fraudsters use real bank codes as well.

Verify changed payment details through a separate channel, such as a phone number you already know. Watch out for time pressure, odd spelling or an email address that differs by one letter. If money was sent to the wrong account, contact your bank immediately.

Recipients can be targeted as well: one known trick is a buyer who pays too much followed by a request to send back the difference. A screenshot of a transfer proves nothing; only your own account shows what has arrived.

How to check CITIPAP1 before you pay

Have the recipient send you their account details directly from their online banking. When the code you were given does not match CITIPAP1 or CITIPAP1XXX, do not guess.

Errors in the SWIFT code are annoying rather than fatal. A mistake in the IBAN or account number is more serious, so check that just as carefully.

Many banking apps validate the structure of IBANs and some suggest the matching BIC, but that does not prove the account belongs to the right person. More and more banks compare the name with the account before you confirm – do not ignore a mismatch warning. A small test payment can be worth it for large sums.

International transfers from Citibank, N.a.: the real cost

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 in between and, above all, the exchange rate markup when the money is converted.

Most of the cost usually sits in the exchange rate, rather than in the fee: many banks convert using an exchange rate with a margin built in. An easy check: set the bank’s rate next to the mid-market rate and look at the difference.

Money transfer services often offer a rate near the mid-market rate. On GoldexPay we compare the amount that arrives across services, so you can pick the cheapest route. You can still keep your account at Citibank, N.a. to fund the transfer; only the conversion and sending happen elsewhere.