Citibank International Limited Portugal Branch SWIFT/BIC code

Citibank International Limited Portugal Branch SWIFT code: CITIPTP1

CITIPTP1 and CITIPTP1XXX are the short and the long form of the same bank identifier, and both point to Citibank International Limited Portugal Branch in Lisbon. A SWIFT code shows the sending bank which institution is meant to get the money. In daily life you mostly see the code on invoices from abroad, in payment forms and in the bank details that Citibank International Limited Portugal Branch provides.

Further down we go through the practical side: money coming in from abroad, paying someone in another country and how to check the code before you confirm a payment. The SWIFT code on its own does not identify a personal account; that is what the account number or IBAN .

Incoming international payments to Citibank International Limited Portugal Branch

For a transfer from abroad into your account at Citibank International Limited Portugal Branch, the person paying you needs more than the BIC. In practice that means: your full name exactly as it appears on the account, your IBAN or account number, the SWIFT/BIC code CITIPTP1XXX and, often, your postal address.

You can include Citibank International Limited Portugal Branch and Lisbon too. Double-check the details before you share them.

An incoming payment will not always land in full. Correspondent banks can take a fee and your own bank may charge for processing, and if the currency changes, an exchange rate margin comes on top. For business payments, it is common to agree who bears the costs.

About this information

The codes here are taken from publicly available data that we update regularly. It can happen that a code here is no longer current. Figures such as the number of codes come from our directory and may differ from what Citibank International Limited Portugal Branch publishes.

See our directory here as a handy check. GoldexPay is an independent comparison site for money transfers and not part of Citibank International Limited Portugal Branch. Spotted an error? Let us know through the contact page and we will look into it.

When will the money arrive at Citibank International Limited Portugal Branch?

How quickly a transfer reaches Citibank International Limited Portugal Branch is determined by several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Weekends and public holidays in either country can add a day or more to the journey. Extra checks by one of the banks may also cause some delay, regardless of the details.

A growing number of banks are connected to SWIFT gpi. Every payment gets a unique transaction reference, the UETR. Specialist transfer services usually provide tracking online so you can see how far the money is.

If a payment has not arrived after a few business days, the person who paid should contact the bank that sent it rather than Citibank International Limited Portugal Branch. Ask the sender for the payment receipt including the reference.

Protect yourself against fake payment requests

Fraudsters regularly send payment requests containing changed bank details, sometimes in an email that looks completely genuine. The fact that CITIPTP1 exists is no guarantee that a request mentioning it is genuine; criminals use the codes of real banks too.

Always confirm changed bank details by phone. Be suspicious of time pressure, odd spelling or an email address that differs by one letter. When a payment was sent to a fraudster, call your bank right away – speed improves the chance of getting it back.

Fraud also work the other way. Someone claims to have sent too much and asks you to return the difference via a different route. A payment confirmation from the sender is no proof – check your own account.

Which of the 17 codes of Citibank International Limited Portugal Branch do you need?

We have 17 SWIFT/BIC codes for Citibank International Limited Portugal Branch. Next to the head office code CITIPTP1XXX, you will find codes for individual branches and departments.

For the vast majority of incoming transfers, the head office code CITIPTP1XXX is the right choice. Branch codes are only needed if the recipient’s bank specifically asks for it, which is more common for business accounts and trade services.

Not sure which code applies? Ask the recipient or the bank itself. Codes can change over time, so do not rely on old paperwork.

8 or 11 characters: CITIPTP1 versus CITIPTP1XXX

The layout of every SWIFT code never changes: a bank code of four letters, two for the country and a two-character location code, plus an optional branch code. In this case, the 8-character core is CITIPTP1.

The 11-character version adds a three-character extension that identify a branch or department. When those three characters are XXX, they simply mean the head office.

In practice the code is typed in capitals and without spaces. A wrong character can send the money to another bank.

Euro (EUR) and conversion costs

Portugal pays in the Euro, code EUR. Money sent in a different currency will be exchanged into EUR before it reaches the account – and the bank that does it picks the rate. There is rarely a separate charge for the conversion; it is built into the rate.

Where the conversion happens affects how much arrives. Often you pay less to send EUR directly through a provider with a good rate rather than letting the receiving bank convert.

Exchange rates move during the day, and some providers let you lock in a rate. For recurring payments, a slightly better rate add up over a year.

Paying Citibank International Limited Portugal Branch in euros within SEPA

Since Portugal is part of the SEPA zone, a euro payment to Citibank International Limited Portugal Branch from within the SEPA area normally requires just an IBAN. Most banking apps no longer ask for the BIC in that case.

You still need CITIPTP1XXX for non-euro payments or money from outside the SEPA area. If your banking app asks for the BIC regardless, entering CITIPTP1 does no harm.

Instant euro transfers have become increasingly supported within SEPA – whether Citibank International Limited Portugal Branch offers them for your account is worth checking. As long as the payment stays in euros, a SEPA transfer tends to be inexpensive.

Paying someone abroad from your Citibank International Limited Portugal Branch account

When you transfer money abroad via Citibank International Limited Portugal Branch, the visible fee is rarely all of what you pay. There is the fee for the transfer itself, possibly charges from correspondent banks along the way and, most importantly, the margin on the exchange rate if the currency changes.

Most of the cost usually sits in the exchange rate, not in the fee: many banks convert at a rate with a margin built in. An easy check: set the bank’s rate against the mid-market rate for the same moment and look at the difference.

For a lot of routes, a transfer service is less expensive than a traditional bank transfer, mainly because of the exchange rate. GoldexPay lists transfer providers next to each other, showing what actually arrives before you commit. Choosing a specialist does not require closing your account at Citibank International Limited Portugal Branch: you simply pay the service from your account.

Before you send: check the Citibank International Limited Portugal Branch code

Have the recipient send you the account details directly from their online banking. Compare it against CITIPTP1 here.

An incorrect BIC may lead to delays, a payment being sent back or extra fees. A mistake in the account number is more serious, because the money may be credited to someone else; check it just as carefully.

A format check in your banking app merely confirms that the IBAN is valid – not that it belongs to the person you mean to pay. More and more banks check the payee name with the account before you confirm. Sending a small amount first is worth it for a large first payment despite the extra fee.