The recent merger between Citibank and Axis Bank may leave you wondering about the future of your international money transfers. Rest assured, the process remains straightforward, even with the change. This guide will walk you through the steps, ensuring your money reaches its destination smoothly.
What's Staying the Same?
The good news is that the core process for sending and receiving international funds to your account remains essentially unchanged. Your remitters (those sending you money from abroad) will still use a wire transfer, a common method for international payments.
Key Information for Remitters
To ensure your international transfers go through without a hitch, make sure your remitters have the following details:
They'll need to provide this information to their overseas bank to initiate the wire transfer.
Important Note:
The only change is that your remitters should no longer send money to the old Citibank NOSTRO account. All future inward remittances should be directed to Axis Bank's designated NOSTRO account. (A NOSTRO account is simply a bank's account in a foreign country.)
What to Expect: Timeframes and Fees
Need Help?
If you have questions or need updates on your transfers, reach out to your Axis Bank Relationship Manager or visit your nearest branch. They're there to help you navigate the transition!
Why This Guide Matters
This kind of guide is crucial for Citibank customers who might be:
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