What are the International Transaction Charges of Citibank?

What are the International Transaction Charges of Citibank?

Citibank is one of the leading global banks that offer a range of financial services to its customers. As a part of its international banking services, Citibank provides customers with facilities for international transactions. However, international transactions often involve additional charges, and customers need to be aware of these charges to avoid any unexpected fees. In this article, we will discuss the international transaction charges of Citibank in detail.

Foreign Currency Conversion Charges

Citibank charges a foreign currency conversion fee for transactions conducted in foreign currencies. The fee is 3% of the transaction amount and is charged on all transactions made outside the customer's home country. This fee is applicable to all debit and credit card transactions, ATM withdrawals, and online purchases made in a foreign currency. It is important to note that the foreign currency conversion fee is in addition to any other fees that may be charged by the merchant or ATM operator.

International ATM Withdrawal Charges

Citibank customers can withdraw cash from ATMs worldwide using their Citibank debit or credit card. However, international ATM withdrawals are subject to additional charges. Citibank charges a $2.50 fee for every ATM withdrawal made outside the United States. This fee is applicable to both Citibank and non-Citibank ATMs.

Overseas Transaction Fees

Citibank charges a $2.50 fee for all overseas transactions made on a Citibank debit card. This fee is applicable to all transactions made outside the United States, including cash withdrawals, purchases, and balance inquiries. The fee is in addition to any other fees that may be charged by the merchant or ATM operator.

Foreign Check Processing Fees

Citibank charges a fee for processing foreign checks deposited into the customer's account. The fee is 1% of the check amount or a minimum of $5, whichever is greater. This fee is applicable to all foreign checks deposited into the customer's account, including checks in foreign currencies and checks drawn on foreign banks.

Investment Opportunities

Citibank offers a range ofinvestment opportunitiesto its customers. One such opportunity is the Citibank Global Currency Account. This account allows customers to hold and manage multiple currencies in a single account, making international transactions more convenient. Customers can use this account to invest in foreign currencies and earn interest on their deposits.

Conclusion

In conclusion, Citibank charges various fees for international transactions, includingforeign currency conversion fees, international ATM withdrawal fees, overseas transaction fees, andforeign check processing fees. Customers should be aware of these fees to avoid any unexpected charges. Additionally, Citibank offers investment opportunities for customers interested in investing in foreign currencies.