Citibank is providing Euro transfers and third party account payments with no fees to its customers.
Covering 31 European countries the Citibank initiative will get money into any bank account in Europe within 3 days. The fee free element applies to Citibank current accounts and savings accounts that use the Euro as their currency. Accounts that use a currency other than the Euro will have a charge of 2 percent levied for currency conversion.
A spokesperson from Citibank saw this new initiative as one that would speed up the whole banking process in Europe and make the transfer of money inexpensive and safe. It is expected to be especially popular with customers who have overseas properties and also those who send payments to bank accounts in different European countries.
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