Citibank For Online Wire Transfers

[Thaiquila]

It seems pretty clear alot of people are having alot of issues with money transfers, US to Thailand.

There is another thread about B of A, but I want to know about people's experiences with Citibank, as it appears, on surface, that they might be a solution for alot of people.

They of course have different levels of accounts, and some require huge balances to avoid large monthly fees, however, not all of them.

They all seem to require a US address to open, and some require a state ID (driver license).

I noticed one option EZ Access, that seems like it might be a good, lower cost, option. It offers international ONLINE wire transfers for 40 dollars a pop. It appears such accounts can be opened online.

https://web.da-us.citibank.com/cgi-bin/citi...UseBVCookie=yes

Some questions:

Has anyone used this EZ Access account for this purpose?

Can you change your US address to a Thai address AFTER opening, or is it safer just to keep a US address on record?

Is it REALLY possible to set up a new wire relationship (Citibank US account to a Thai bank account) completely ONLINE, without ever having to physically fill out a form and signature and show up at a branch in the US? (Lots of banks are now requiring PHYSICAL presencse for each wire event, Washington Mutual for one).

This shouldn't have to be this hard. The hard part should be getting the money to be able to wire it!

[Gary A]

I can't answer most of the questions but I can relate my experiences with Citibank. I lived in California when I opened my account. They required a $1,500 minimum balance to avoid monthly fees. Since I moved to Thailand I have a Thai address and no USA address. I set up on-line transfers directly on the Internet and after the first transfer Citibank saves the information and it is VERY simple after that. A wire transfer cost $30 regardless of the amount and using the Citibank ATM card cost $1.50 per transaction again regardless of the amount. I have always been amazed that the wired money is in my Siam Bank account the very next day. I may be able to do it cheaper with another bank but Citibank has always been very efficient and I have had no problems. I have an insured money market savings account linked to my checking account and my pension is direct deposited into the checking. There is no charge for transfers between linked accounts. I'll stay with them.

[Thaiquila]

I can't answer most of the questions but I can relate my experiences with Citibank. I lived in California when I opened my account. They required a $1,500 minimum balance to avoid monthly fees. Since I moved to Thailand I have a Thai address and no USA address. I set up on-line transfers directly on the Internet and after the first transfer Citibank saves the information and it is VERY simple after that. A wire transfer cost $30 regardless of the amount and using the Citibank ATM card cost $1.50 per transaction again regardless of the amount. I have always been amazed that the wired money is in my Siam Bank account the very next day. I may be able to do it cheaper with another bank but Citibank has always been very efficient and I have had no problems. I have an insured money market savings account linked to my checking account and my pension is direct deposited into the checking. There is no charge for transfers between linked accounts. I'll stay with them.

<{POST_SNAPBACK}>

Thanks for the feedback Gary. Thats good news that Citibank is working so well for you.

Citibank online says it is 40 dollars for an intl. wire transfer so either they raised the fee or you have a different fee based on account type.

A couple of other questions.

Is yours a checking account where you actually got physical checks (with EZ access, there are no checks)?

Citibank (US) requires a US address to OPEN an account, but they don't say you need to maintain that address. Did you change your address to a Thai address online, or did you keep the record of a US address on your account record?

People should also consider electronic transfers BETWEEN other accounts. In many cases, institutions (for example ING) require that you send them a voided PHYSICAL check to initiate the transfer setup. If you open an account where you never get any physical checks, obviously, you would have a problem.

[lopburi3]

Be careful and read the fine print. You do not appear to have a valid ATM/Debit card with this account (US use only) so it might not be the best choice for those living overseas. You need a real checking account to obtain a real international card and that requires a US drivers licence or State ID card it seems.

Edited November 27, 2005 by lopburi3

[Gary A]

I have actual personal checks. I have an account with LPL Financial and they required a voided personal check in order to deposit funds into my Citibank checking account.

I was worried that I may have a problem with my Thai address so I was planning to use my brother's US address. Citibank offers on-line statements so if you choose that option there are no paper statements anyways. I changed it on-line to my Thai address and had no problems.

I forgot to add that the bastards at PayPal made my life miserable. My account with them is still "limited". It is actually useless and frozen. My Citibank account has a free bill pay option. If not for that it would have caused me a lot of problems settling up odds and ends after my move. I still use the free bill pay for my credit cards.

EDIT: I made my last wire transfer October 10th and the fee was still $30.

A couple of other questions.

Is yours a checking account where you actually got physical checks (with EZ access, there are no checks)?

Citibank (US) requires a US address to OPEN an account, but they don't say you need to maintain that address. Did you change your address to a Thai address online, or did you keep the record of a US address on your account record?

People should also consider electronic transfers BETWEEN other accounts. In many cases, institutions (for example ING) require that you send them a voided PHYSICAL check to initiate the transfer setup. If you open an account where you never get any physical checks, obviously, you would have a problem.

<{POST_SNAPBACK}>

Edited November 27, 2005 by Gary A

[Thaigreg]

Citibank used to have a service called "C2it" in which you could transfer funds, pay bills, make payments to an individual and send monies overseas. I signed up for this service in 2002 and used for a few months until I moved to Thailand in Jan 2003. When I changed my address to here in Thailand I was told I could not use the service because I was located outside the US, even though all my account are with US banks or credit unions and all transfers were made to US financial institutions.

[Thaiquila]

Citibank used to have a service called "C2it" in which you could transfer funds, pay bills, make payments to an individual and send monies overseas.  I signed up for this service in 2002 and used for a few months until I moved to Thailand in Jan 2003.  When I changed my address to here in Thailand I was told I could not use the service because I was located outside the US, even though all my account are with US banks or credit unions and all transfers were made to US financial institutions.

<{POST_SNAPBACK}>

Thats the kind of thing I am afraid of.

Did you change your address online or by mail or phone?

In the current online setup, I did confirm over the phone that online overseas wire transfers can be made with any type of Citibank checking account, with checks, without checks, etc. Not limited to one class of account.

For most US Citibank accounts, you need a US address and drivers license to open.

I suppose one way would be to keep the US address on the record but even that might cause later problems, for example, you can no longer use that US address, your driver's license expires, etc.

I wish I had an easy answer to these complications ...

[lopburi3]

Be aware that a US drivers licence does not require a US address. My Florida licence has had my Bangkok address for last two renewals. My (US) Chase credit card was changed to Bangkok address 10 years ago. I suspect most banks can change to a foreign mailing address after accounts are open and a relationship established but I have not tested this myself for deposit accounts.

[Thaigreg]

Citibank used to have a service called "C2it" in which you could transfer funds, pay bills, make payments to an individual and send monies overseas.  I signed up for this service in 2002 and used for a few months until I moved to Thailand in Jan 2003.  When I changed my address to here in Thailand I was told I could not use the service because I was located outside the US, even though all my account are with US banks or credit unions and all transfers were made to US financial institutions.

<{POST_SNAPBACK}>

Thats the kind of thing I am afraid of.

Did you change your address online or by mail or phone?

In the current online setup, I did confirm over the phone that online overseas wire transfers can be made with any type of Citibank checking account, with checks, without checks, etc. Not limited to one class of account.

For most US Citibank accounts, you need a US address and drivers license to open.

I suppose one way would be to keep the US address on the record but even that might cause later problems, for example, you can no longer use that US address, your driver's license expires, etc.

I wish I had an easy answer to these complications ...

<{POST_SNAPBACK}>

I changed my address online with the C2it account.

On Sunday I re-registered with citibank but did not open an account. I'm thinking of opening a savings account. Can you make overseas transfers with a savings account? Are these tranfers done with an ABA routing number or a SWIFT Code.