Remit funds overseas using Online banking – Easy steps for resident individuals
As an indian resident individual, you can remit funds overseas under the Liberalised Remittance Scheme (up to USD 250,000 per financial year) in few simple steps as below:
Add new Payee
Login to your Citibank account at https://www.online.citibank.co.in/
Navigate to Banking->Transfer funds->International Transfer Tab
Click on Add New Payee
Enter New Payee Details and click on Next
Click on checkbox to receive OTP and click on Confirm
Click on Authorize Payee, enter OTP received on your registered mobile number and click on confirm to complete the Add Payee process
Click on Make Payment Now
Enter payment details
a.Select Currency from dropdown.
Please Note: In order to check the indicative Exchange Rate, use the link as shown. Foreign Currency transactions happen only on Monday to Friday
b.Select Source Account and Purpose of Transfer from the options in menu (Gifts/maintenance of close Relative Abroad/ Travel/ Education/Medical) and fill in the details corresponding to the option.
c.Select Bearer of Charges and click on Continue.
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A pre-confirmation screen will open. Tick the checkboxes and click on Confirm