Citibank Europe PLC Portugal Branch SWIFT/BIC code

What CITIPTPX means for a payment to Citibank Europe PLC Portugal Branch

The 8-character code CITIPTPX and the full code CITIPTPXXXX identify the same bank: Citibank Europe PLC Portugal Branch in Lisbon, Portugal. A SWIFT code shows the banks handling a payment exactly which bank is meant to get the money, much like a postcode for banks. It comes up mostly for transfers between countries.

On this page we explain how the code is put together, when you need it and what else you need for a transfer to or from Citibank Europe PLC Portugal Branch. Keep in mind that the SWIFT code just identifies the bank, not the person: the account number or IBAN does that part.

CITIPTPX or CITIPTPXXXX – which one to use?

The structure of a BIC never changes: four characters for the institution, two for the country and two for the location, plus an optional branch code. The result is CITIPTPX, the short form of the code.

XXX at the end of CITIPTPXXXX does not stand for a placeholder or an error: it indicates the main office of Citibank Europe PLC Portugal Branch. Some forms insist on 11 characters, and then you simply add XXX after CITIPTPX.

In practice the code is written in capitals and without spaces. Copying the code is safer than typing it by hand, because one wrong letter changes the bank.

How to check CITIPTPX before you pay

The best place to find the right code is paperwork issued by the bank. If the code you have differs from CITIPTPX or CITIPTPXXXX, stop and ask.

Errors in the SWIFT code tend to be costly more than fatal – usually the money comes back, minus fees and time lost. Remember the account number: a mistake there is more difficult to correct than a wrong BIC.

Most online banking apps check the structure of an IBAN and some suggest the matching BIC. Where available, a name check on the recipient gives an extra layer of safety. When you pay someone new, many people start with a small amount first before sending the rest.

Euro transfers to Citibank Europe PLC Portugal Branch: is a BIC needed?

Within the SEPA zone, euro transfers to an account in Portugal use the same rules and in most cases need only the IBAN. The BIC field is often optional for those payments.

You will still need CITIPTPXXXX for non-euro payments or money from outside the SEPA area. If a payment form asks for the BIC regardless, adding CITIPTPX does no harm.

Euro payments within SEPA normally land by the next business day, and instant transfers in seconds where both banks support them. Charges on SEPA payments are generally low, as long as no currency conversion is involved.

Where our SWIFT data comes from

The details here are taken from publicly available data that we update regularly. Banks reorganise, change names and change codes – a directory can be a step behind. Figures such as the number of codes come from our own dataset and may differ from what Citibank Europe PLC Portugal Branch publishes.

Treat the information here as a helpful check, and let the details from the recipient or Citibank Europe PLC Portugal Branch have the final say. GoldexPay is a comparison site and not affiliated with Citibank Europe PLC Portugal Branch. Spotted outdated information? Tell us via our contact form.

Getting paid from abroad into a Citibank Europe PLC Portugal Branch account

When you expect a payment from another country, send the payer everything they need in one go. That means: your name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code CITIPTPXXXX and usually your address.

Their bank might request the bank address of Citibank Europe PLC Portugal Branch, in which case the Lisbon head office is the usual answer. Check every detail before you send them – a sender rarely spots a mistake in someone else’s details.

An incoming payment does not always land in full. Fees for incoming transfers differ from bank to bank; check the price list of Citibank Europe PLC Portugal Branch. Make clear with the sender who pays which costs, especially for larger amounts.

Euro (EUR) and conversion costs

The currency of Portugal is the Euro (EUR). When you pay another currency it has to be converted at some point: by your bank, an intermediary or Citibank Europe PLC Portugal Branch itself. You rarely see a separate line for that conversion.

Who converts the money matters. Sending the amount directly in EUR often avoids an extra conversion by Citibank Europe PLC Portugal Branch – as long as your own rate is good.

Exchange rates change during the day – some services let you fix a rate in advance. On larger amounts, even seemingly small gap in the rate can be worth more than the fee.

Scams that use SWIFT codes

A common scam goes like this: an email arrives with a request saying that a company now has new bank details. The fact that CITIPTPX exists does not mean that a request mentioning it is legitimate; criminals use the codes of real banks too.

Always confirm a change of bank details through a phone call on a number you know, not one from the message. Be suspicious of urgent requests, odd spelling or a sender address that is slightly off. When a payment was sent to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

Recipients can be targeted as well: a classic trick is a buyer who pays too much and then sends a request to send back the difference to another account. Wait until the money has really arrived – ask Citibank Europe PLC Portugal Branch if something looks wrong.

What a transfer from Citibank Europe PLC Portugal Branch abroad really costs

A bank transfer abroad can cost rather more than the listed fee. Besides a fixed fee, banks in between may take a cut, and when the money changes currency the bank often uses a rate below the actual market rate.

The real cost is often in the rate, not in the fee: the bank converts using an exchange rate with a margin built in. A simple test: set the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

For many routes, a specialist provider is cheaper than a traditional bank transfer – mostly thanks to the rate. GoldexPay compares the amount that arrives with different providers. Choosing a specialist does not mean closing your account at Citibank Europe PLC Portugal Branch.

Transfer times and tracking a payment to Citibank Europe PLC Portugal Branch

An international transfer typically needs one to a few business days – it depends on currency, route and the banks in between. Payments made late in the day or on a weekend or public holiday often go out the next business day. Extra checks on larger or unusual payments may also cause some delay, regardless of the details.

If a transfer seems delayed, contact your bank about the status or the UETR. Money transfer services usually provide tracking in their app so you can see where the money is.

Only the sending bank can request a trace. On the receiving end, it helps to look at your statements to see a slightly lower amount because fees can reduce the amount.

Citibank Europe PLC Portugal Branch: head office code versus branch codes

Our database contains 2 SWIFT/BIC codes for Citibank Europe PLC Portugal Branch, spread over 1 locations. Besides the head office code CITIPTPXXXX, you will find codes for regional offices and specialised units.

For most incoming transfers, the head office code CITIPTPXXXX is the right choice. If you have been given a specific code, stick to it instead of swapping it with the head office code.

If you are not sure, check with the recipient which code their bank gave them. Branch codes are more prone to change than CITIPTPXXXX.