We are pleased to announce that Citibank, N.A. will become a direct clearer of CAD-denominated wires starting September 25, 2021. For BIC Codes: CITICATTBCH and CITICATT, CAD wires will settle directly with other Canadian financial institutions. We will participate in the new Lynx Clearing & Settlement system that Payments Canada will be implementing as part of its Payment Modernization vision.
There will be no change to the current cut-off times for your incoming and outgoing wires. However, if you and/or your counterparties currently include Intermediary Routing Information in the wire payment instructions, please ensure this information is removed to minimize any settlement delays. If the Intermediary Routing Information is not included, no action is required.
Please refer to the below for further details on the Settlement Instructions. These changes will take effect after go-live date.
Wire Instructions (Outgoing) – Canadian Currency Only
To ensure a straight-through processing of your wire payments, please exclude Intermediary Routing Information as indicated below.
| Before Sep 25, 2021 | After Sep 25, 2021 |
|---|---|
| Enter Beneficiary Details Beneficiary Client Account Number Beneficiary Client Name Beneficiary Client Address Enter Ordering Party Details Ordering Party Name Ordering Party Address |
Enter Beneficiary Details Beneficiary Client Account Number Beneficiary Client Name Beneficiary Client Address Enter Ordering Party Details Ordering Party Name Ordering Party Address |
|
Enter Intermediary Bank Details: ROYCCAT2XXX (e.g.) |
Enter Intermediary Bank Details: LEAVE BLANK |
Incoming Wires - Canadian Currency Only:
To efficiently process incoming funds via wire transfer to your Citi Canada account(s), the sender of the funds must ensure that the Intermediary Routing Information is excluded in the payment instruction from the financial institution from which the funds are being transferred.
Entity: Citibank NA, Canadian Branch
| Before Sep 25, 2021 | After Sep 25, 2021 |
|---|---|
| SWIFT Tag 50 Remitter Client Account Number Remitter Client Name Remitter Client Address |
SWIFT Tag 50 Remitter Client Account Number Remitter Client Name Remitter Client Address |
|
SWIFT Tag 56 (Correspondent/Intermediary): ROYCCAT2XXX (e.g.) |
SWIFT Tag 56 (Correspondent/Intermediary): LEAVE BLANK |
| SWIFT Tag 57 (Beneficiary) Beneficiary Bank: Citibank, N.A., Canadian branch SWIFT: CITICATTBCH Bank Number: 328 Transit/ Branch Number 20012 |
SWIFT Tag 57 (Beneficiary): Beneficiary Bank: Citibank, N.A., Canadian branch SWIFT: CITICATTBCH Bank Number: 328 Transit/ Branch Number 20012 |
| SWIFT Tag 59 Beneficiary Client Account Number Beneficiary Client Name Beneficiary Client Address |
SWIFT Tag 59 Beneficiary Client Account Number Beneficiary Client Name Beneficiary Client Address |
Entity: Citibank, Canada
Incoming Wires - Canadian Currency Only:
| Before Sep 25, 2021 | After Sep 25, 2021 |
|---|---|
| SWIFT Tag 50 Remitter Client Account Number Remitter Client Name Remitter Client Address |
SWIFT Tag 50 Remitter Client Account Number Remitter Client Name Remitter Client Address |
|
SWIFT Tag 56 (Correspondent/Intermediary): ROYCCAT2XXX (e.g.) |
SWIFT Tag 56 (Correspondent/Intermediary): LEAVE BLANK |
| SWIFT Tag 57 (Beneficiary) Beneficiary Bank: Citibank, Canada SWIFT: CITICATT Bank Number: 260 Transit/ Branch Number 00082 |
SWIFT Tag 57 (Beneficiary): Beneficiary Bank: Citibank, Canada SWIFT: CITICATT Bank Number: 260 Transit/ Branch Number 00082 |
| SWIFT Tag 59 Beneficiary Client Account Number Beneficiary Client Name Beneficiary Client Address |
SWIFT Tag 59 Beneficiary Client Account Number Beneficiary Client Name Beneficiary Client Address |
If you have any questions, please contact your Citi Account Manager or Customer Service Officer
Thank you for your collaboration,
Your Citi Team