Citibank Korea Inc SWIFT/BIC code

What CITIKRSX means for a payment to Citibank Korea Inc

Whether a recipient gives you CITIKRSX or CITIKRSXXXX, you are looking at the identical address for Citibank Korea Inc in South Korea. A SWIFT code tells every bank in the chain exactly which bank should receive the money. In daily life you mostly come across the code on invoices from abroad, in payment forms and on the account details that Citibank Korea Inc provides.

On this page we explain how the code means, when it matters and what else you need for a transfer to or from Citibank Korea Inc. A SWIFT code names an institution, not a specific account, which is why you always need the account number too.

When will the money arrive at Citibank Korea Inc?

There is no fixed delivery time for international payments: some arrive within a day while others need several business days. Payments made after the cut-off time or on a weekend or public holiday often start the next business day. Sometimes a bank asks what the payment is for, which can hold things up.

If the money seems late, ask the sending bank for the tracking status and the transaction reference; with that reference banks can see where the payment is. Keep your transfer receipt until the money has arrived – you will need it for any trace request.

The bank that sent the money is able to request a trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, you can check your account to see a slightly lower amount, since fees may have been deducted.

About this information

The details here are taken from publicly available data. Institutions reorganise, change names and change codes, and a directory never catches every change immediately. Counts and locations come from our own dataset.

See our directory here as a handy check and rely on the recipient or Citibank Korea Inc for the final confirmation. GoldexPay is a comparison site and not part of Citibank Korea Inc. If you notice a mistake, we appreciate a message via the contact page.

Sending money abroad from Citibank Korea Inc

If you transfer money to another country via Citibank Korea Inc, the fee you see is only part of what you pay. You pay the transfer fee, sometimes charges from correspondent banks along the way and, above all, the margin on the exchange rate.

Many banks do not show their exchange rate markup separately – you only notice it if you compare. An easy check: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

For many currency pairs, a transfer service turns out to be cheaper than a bank. GoldexPay lists these services side by side so you can see what actually arrives before you commit. Choosing a specialist does not mean closing your account at Citibank Korea Inc: you simply pay the service from your account.

Choosing between the 4 SWIFT codes of Citibank Korea Inc

Having 4 codes in 1 cities, Citibank Korea Inc belongs to the banks that use separate codes for parts of the organisation and departments. The main code is CITIKRSXXXX.

Unless the recipient tells you otherwise, use CITIKRSXXXX or its short form CITIKRSX. If you have been given a branch code, use it as it is rather than swapping it with the head office code.

The best way is to copy the code directly from the account holder’s statement. Branch codes are sometimes changed or retired when banks reorganise.

Why Citibank Korea Inc has an 8- and an 11-character code

A BIC is made up of fixed blocks: the first four letters identify the bank, characters five and six show the country and the two after that mark the location. In this case, that core is CITIKRSX.

The 11-character version has three more characters for a branch or department. When those three characters are XXX, the code points to the head office.

Enter the code in one piece, in capitals and without spaces, exactly as shown here. Pasting the code beats retyping it: a typo can point to another bank.

How to check CITIKRSX before you pay

Have the recipient copy the account details directly from their banking app. Compare that code with CITIKRSX on this page and ask if anything does not match.

Errors in the BIC are costly rather than fatal. An error in the IBAN or account number is a bigger problem, because the money may be credited to someone else, so check that just as carefully.

A validity check in your banking app merely tells you that the code exists, not that it is the right account. Some banks now check the name against the account before you confirm – do not ignore a mismatch warning. For a first payment, many people start with a small amount first.

Incoming international payments to Citibank Korea Inc

If you expect money from abroad, give the sender a complete set of details. What they need is: your name, IBAN or account number, CITIKRSXXXX or CITIKRSX and often your postal address.

It helps to add the bank name and its city as well, since some forms ask for it. A mistake in the IBAN can be harder to fix than it looks, so copy the details from your online banking.

Money from abroad does not always arrive for the full amount. Charges on incoming payments differ per bank – the price list of Citibank Korea Inc tells you what applies. Make clear with the sender who covers the fees, especially for larger amounts.

Scams that use SWIFT codes

One of the most common tricks goes like this: you receive a message saying that a company has new bank details and that the next payment should go there. That CITIKRSX is a real code does not mean that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Do not rely on contact details from the same email that announces the new account. Urgency or requests to keep it quiet are warning signs; a genuine business can wait for you to check. Already paid? Contact the bank you paid from without delay and have them try to recall the payment; also report it to the police.

Recipients are targeted too: one known trick is a buyer who pays too much followed by a request to send back the difference abroad. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.