Inward Remittance

Enjoy secure remittances with Citi

Enjoy secure remittances with Citi

Enjoy smooth remittance of funds from overseas to your Citibank account in India. With our global network, we ensure secure transfer of funds to your Citibank India account securely.

Citibank Suvidha Salary Account

Top reasons for making wire transfer with Citi:

  • Competitive exchange rates
  • Direct credit to your Citi India account
  • Faster turnaround time on remittances across countries
  • Transfer funds in 27 currencies through our wide global network
How to make an inward remittance?


  1. To initiate a wire transfer, remitter needs to share the following information with their local bank:
    • Beneficiary Account: 10 digit Citibank India account number
    • Beneficiary Name: Name as on Citibank India account
    • Beneficiary Bank: Axis bank
    • Beneficiary SWIFT Code: AXISINBB
    • The SWIFT code AXISINBB must be used for all remittances sent either in foreign currency or INR to India.
  2. Correspondent Bank Name, SWIFT Code & Correspondent Account No., available here (optional)

  3. Purpose code and description is mandatory for all inward remittances. Please click here for list of purpose codes.
How to make an outward remittance?


  1. Resident individuals (Indian nationals and expatriates who have submitted their permanent resident declaration with us) can initiate outward remittances under the Liberalized Remittance Scheme (LRS).

    • To initiate an outward remittance under LRS, you would need following information –
      • Beneficiary details – Name, Account Number
      • Beneficiary bank details – Name, Address, SWIFT Code/IBAN Number
    • Online remittance –
      You can remit up to USD 25,000 equivalent per transaction online subject to your unutilized LRS limits and daily online banking limits
      Online remittance can be made for below purposes
      • Gifts: Gifts to a Non Resident Indian
      • Travel: Remittance to travel house or travel company or your own account abroad
      • Education: Remittance to University/School/College/Educational institute
      • Medical: Remittance to Hospital/Doctor/Health Centre/Lab
      • Maintenance of close relatives: Remittance to Non-resident of India
      • *Remittance by Expat/Foreign national (Not covered under LRS): Remittance of salary income
    • Remittance through branch
      Remit funds overseas under the Liberalized Remittance Scheme - up to USD 250,000 per financial year
  2. *Persons of Indian origin/foreign nationals who are in India for employment or deputation are not covered under LRS and are allowed to remit only up to the entire salary (net of taxes) to his/her account abroad. For more details, refer Remittance of income by Expats.

Applicable taxes and charges


Applicable taxes and charges on foreign currency inward remittance

  1. Goods and Services Tax (GST), as per below current grid applicable w.e.f. 1st July, 2017 and is subject to change:
  2. Exchanged Amount (INR) Taxable Amount
    Up to INR 1,00,000 1% of gross amount of currency exchanged subject to a minimum taxable amount of INR 250/-
    Exceeding INR 1,00,000 and up to INR 10,00,000 INR 1,000 + 0.5% of gross amount of currency exchanged in excess of INR 1,00,000/-
    Exceeding INR 10,00,000 INR 5,500 + 0.1% of gross amount of currency exchanged in excess of INR 10,00,000/- subject to a maximum of INR 60,000/-
  3. Correspondent bank charges are levied as per prevailing policy of the correspondent bank routing the funds

Please note that the correspondent bank charges are subject to change and are applicable as per the correspondent bank’s current grid.

To know about applicable taxes and charges on foreign currency outward remittance as of date
Please refer to below link:Citi India (

Exchange rates


For exchange rates, click here

The foreign exchange rates mentioned are indicative only. The applicable rate will be the exchange rate prevailing on the date of funds conversion post fulfilment of all regulatory requirements.

FAQs and Blogs

FAQs and Blogs

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Upon receipt of funds and the SWIFT message mentioning all mandatory details from remitting bank, it usually takes 24 to 48 working hours to credit the funds. Please note that timelines may get impacted in case additional information/documentation is required per FEMA/RBI/internal/other guidelines.

Correspondent bank charges are levied by the intermediary bank routing the funds to Citibank India. These charges are levied basis the prevailing charge structure of the intermediary bank and may depend on the value of the transaction. Citibank India would typically receive funds post deduction of charges by correspondent bank.

Service tax (ST) for foreign currency is calculated basis the prevailing ST grid. A separate debit will reflect in the account statement for the same (As per the current prevailing grid)

No; for USD remittances, Citibank SWIFT code, along with Citibank ABA routing number will be required. (Please refer to the link to know currency specific Citibank details).

The SWIFT code AXISINBB must be used for all remittances sent either in foreign currency or INR to India.