Citi International Payment Account (IPA) Solution
For multinational organizations operating in different markets around the globe, an efficient, cost effective and convenient solution to manage offshore foreign currency balances, transactions and flows is essential.
Citi’s International Payment Account (IPA) solution offers a comprehensive, centralized, non-resident bank account solution to help simplify the management of foreign currency balances, transactions and flows and reduce associated costs. IPA accounts are offered in New York in U.S. Dollar or in London in U.S. Dollar/ Euro/Pound Sterling/Swiss Franc/Japanese Yen and 13 other major currencies. In addition to full payment and collection capabilities, the IPA solution offers access to our award winning CitiDirect Online Banking, with local service available in many countries.
Benefits of the IPA solution include:
- A centralized non-resident bank account that is easy to open and maintain.
- Ability to collect funds and make payments in most major currencies from a single account.
- Access to better cutoff times in London and New York (compared to in-country cutoff times).
- Up-to-the-minute transparency into cash positions.
- Local Citi customer service experts who speak the local language and are knowledgeable about market intricacies are available in most countries.
Scalability and Global Expertise:
Citi’s IPA solution offers the ability to send or receive payments in virtually any currency with Citi’s WorldLink and Multi-Currency Gateway (MCG) solutions. Citi also provides access to major clearing systems and is able to make incoming or outgoing payments in different payment types. Additionally, multilingual, highly trained and experienced customer service representatives operating in your time zone are available to assist by phone, fax or e-mail.
Through a centralized account, the IPA solution offers multiple payment options in a large variety of currencies from any country and efficiently concentrates incoming funds into the base currency of that account. The foreign currency conversion is integrated seamlessly into the payment and receivables process.
Citi’s award-winning transaction and information delivery platform, CitiDirect Online Banking, provides secure, web-based access to accurate, up-to-the-minute information on your accounts in up to 22 languages, without requiring special software or hardware.