You will need to set up a payee by adding ‘Other Overseas Account’. This will require you to enter the payee’s information, including address and bank account details. Bank account details can include a SWIFT code, International Bank Account Number (IBAN) or another Market specific code. If you are unsure, please check with the payee who will be able to confirm with their bank what routing code to use.

From June 24, 2023 onwards, there will be only one option to set up a payee in the affected markets. You will be required to provide the payee’s information, including address and bank account details as per above.

To receive an international funds transfer, you will need to provide your account number and Citibank Hong Kong’s SWIFT code (CITIHKAX^*) to the payer. Other key information which may also be required include:

• Bank Code – 250
• Branch Code – 390*
• Bank Address – Citi Tower, 83 Hoi Bun Road, One Bay East, Hong Kong

^*For Citibank N.A. customers, please use the SWIFT code CITIHKAXIPB and the Branch Code 790.

Telegraphic Transfer usually take up to 5 business days to process. There may be circumstances where this could take longer, such as if public holidays and weekends occur side by side. In general, if the transfer involves correspondent banks, it may take more time for the fund to arrive at the recipient’s account.

Your existing CGT payee records will be removed as a CGT destination in the affected markets. This will prevent funds transfers being initiated and you will not be able to access CGT anymore.

No, however the usual charges or fees that previously applied to using Telegraphic Transfer will still apply. For details, please refer to: https://www.citibank.com.hk/english/personal-banking/pdf/useful-documents/service-fee.pdf