Citibank International Transfers in Australia: What Changed, and What NAB Offers Now

What happened to Citi's retail business in Australia

Citigroup's own press release, dated 1 June 2022, states: "Citi today announced it had successfully completed the sale of its Australian Consumer Business to National Australia Bank Limited (hereafter 'NAB')." It goes on: "Citi's Australian Consumer Business, which includes unsecured lending, residential mortgages, deposits and wealth, is being transferred to NAB with approximately 800 Citi employees." This wasn't a partial handover of one product line — it was the whole of Citi's Australian consumer bank, including credit cards, personal loans, retail banking, mortgages and wealth management for individual customers.

The exact date the last Citi account closed

NAB's own customer notice — a variation-notice PDF sent to Citibank Plus Transaction Account holders — fixes the precise closing date: "On 24 February 2024 the Citibank Plus Transaction Account and Citi Debit Mastercard will be closed and the funds transferred to the NAB Classic Banking account." Customers had until 23 February 2024 to move their own balance across; NAB's notice states that if they hadn't, NAB transferred the remaining funds automatically on the 24th. From that date, the Citi Debit Mastercard was cancelled and any incoming or outgoing payments still directed at the old Citi account could no longer be processed.

As of 24 February 2024, there is no remaining Citi-branded retail transaction account in Australia at all.

What a former Citi customer uses to send money overseas today

If your Citibank Plus account moved to NAB Classic Banking, your international transfers now go through NAB — NAB's own fees, limits, cut-off times and SWIFT code apply, not any Citi-era terms. NAB's current international transfer fees are $0 through NAB Internet Banking or the NAB app when you send in a foreign currency (or $30 if sent in Australian dollars), and NAB states it covers any fee an overseas bank would otherwise charge on transfers sent online this way. The full fee, limit and cut-off detail is on Migratio's NAB international transfer guide.

Receiving money as a former Citi customer

The same applies in reverse — if someone overseas is sending you money, they now need NAB's receiving details rather than any Citi-branded account information, since the Citi account no longer exists to receive into. Migratio's guide to receiving money from overseas into a NAB account covers NAB's SWIFT/BIC code, receiving fees and what to give the sender.

What Citi Australia does today

Citigroup's 2022 press release states the bank's remaining Australian focus: "Citi Australia will now focus its resources on the businesses where we have scale... Our goal is to be Australia and New Zealand's preeminent banking partner for corporate, investor and public sector clients with cross-border needs." In other words, Citi's ongoing presence in Australia is institutional and corporate banking — cross-border banking for businesses and large clients — not a consumer product a retail customer can open or use for a personal international transfer.

Can I still use Citibank for an international transfer in Australia?

Not as a retail customer. Citi sold its entire Australian consumer banking business to NAB, and the last Citi-branded retail account (Citibank Plus) closed on 24 February 2024. Citi's remaining Australian business is institutional and corporate banking, not a personal transaction account.

When did Citi's Australian retail accounts move to NAB?

The sale of Citi's whole Australian consumer business to NAB completed on 1 June 2022. The final migration step — closing the last Citi-branded transaction account, Citibank Plus, and moving remaining balances to NAB Classic Banking — happened on 24 February 2024.

What happened to my Citi Debit Mastercard?

It was cancelled on 24 February 2024, the same date the Citibank Plus Transaction Account closed. NAB's customer notice states any remaining balance was transferred to a NAB Classic Banking account automatically if the customer hadn't already moved it.

Where do I find Citi's old international transfer fees now?

There aren't any current Citi fees to look up — international transfers for former Citi retail customers now run entirely under NAB's fee schedule, limits and process, since the account itself is a NAB Classic Banking account.