The following survey is intended to collect information on the fees your bank imposes on incoming consumer-initiated cross-border USD wire transfers. Fees that may be imposed include both fees that are deducted from the principal amount of the wire transfer transaction, as well as other fees that you may assess your clients for the receipt of such transfers. (However, please disregard any deductions taken on your behalf by Citi – i.e. credit fee deducts.)

Please note that any information that you provide to us will be disclosed to our customers and clients as required by the Remittance Transfer Rule.

New Legal Requirement

Under the Remittance Transfer Rule, financial institutions that are “remittance transfer providers” must give senders of remittance transfers detailed information about the fees imposed on the transfer and the amount of currency to be received by the recipient of the transfer. This includes fees imposed by other institutions, such as those that your institution imposes on incoming cross-border wire transfers. The Remittance Transfer Rule will require that Citibank disclose this fee information when a consumer requests to send the remittance transfer.

These up-front disclosures must address all fees deducted from the payment along the clearing channel for a particular transaction including fees deducted by the beneficiary bank, as well as other fees that a beneficiary bank may charge the recipient the transfer. The following survey asks for information about both the fees that are deducted from the principal amount of the transfer (Part 1), as well as other fees that you may charge your customers who receive incoming cross-border wire transfers (Part 2).

In addition, we ask that your bank notify Citibank within a reasonable period of time, through the same online survey, if any of the fee information that is provided through the survey changes. Citibank will request updated fee information from your bank no less frequently then semi-annually.

Survey


Part 1: FEES DEDUCTED FROM PRINICPAL AMOUNT OF THE USD TRANSFER


1. Are there any impediments that will prevent your bank from disclosing its incoming fee schedule to Citi?
    1. a. No
    2. b. Yes. Kindly Provide reason:

2. If answer to Q1 was "a", which of the following best describes the fees that your institution charges its customers for incoming USD cross-border wire transfers with charge code BEN:
    1. a. We do not charge fees for such incoming cross-border wire transfers.
    2. b. Dynamic – we charge fees that are dependent on information only available when the wire is received by us, such as (mark all applicable):
    3. c. Static – we charge fees that are dependent only on information available at the moment of wire initiation at remitting institution

3. If answer to Q1 was "a", which of the following best describes the fees that your institution charges its customers for incoming USD cross-border wire transfers with charge code SHA:
    1. a. We do not charge fees for such incoming cross-border wire transfers.
    2. b. Dynamic – we charge fees that are dependent on information only available when the wire is received by us, such as (mark all applicable):
    3. c. Static – we charge fees that are dependent only on information available at the moment of wire initiation at remitting institution

Part 2: OTHER FEES CHARGED FOR INCOMING USD CROSS-BORDER WIRE TRANSFERS (not deducted from principle – for example charged on monthly invoice)


1. Are there any impediments that will prevent your bank from disclosing its incoming fee schedule to Citi?
    1. a. No
    2. b. Yes. Kindly Provide reason:

2. If answer to Q1 was "a", which of the following best describes the fees that your institution charges its customers for incoming USD cross-border wire transfers:
    1. a. We do not charge fees for incoming cross-border wire transfers.
    2. b. Dynamic – we charge fees that are dependent on information only available when the wire is received by us, such as (mark all applicable):
    3. c. Static – we charge fees that are dependent only on information available at the moment of wire initiation at remitting institution

  1. Please remember to click the submit button to send your information and questions to the Citi team.