Citibank, N.A.

Citibank, N.A. in Sri Lanka operates exclusively for legal entities. It does not provide retail or consumer banking services. The bank offers corporate, treasury, and trade solutions. Cash management, financing, and electronic banking are also provided.

Corporate Accounts and Deposits

Citibank, N.A. provides various corporate account services. The Citi Sri Lanka Rupee Current Account is non-interest bearing. It delivers statements via SWIFT MT940. This account accepts inward LKR cash and local/FC credits. Citi Sri Lanka Foreign Currency Current Accounts are multi-currency. These accounts are governed by FX circulars; no cheque books are issued. SWIFT-based MT103 reporting is available.

The bank offers Citi Sri Lanka Rupee Savings Accounts. These earn interest on daily balances, credited monthly. A minimum balance of LKR 100,000 applies. Foreign Currency Savings Accounts also accrue daily interest. They require a minimum USD 1,000 or equivalent.

Call Deposits are available in LKR and foreign currencies. LKR Call Deposits have a seven-day hold; minimum LKR 100,000. Foreign Currency Call Deposits also have a seven-day hold. A minimum USD 10,000 is required for booking. Fixed/Time Deposits are offered for 1, 3, 6, or 12 months. These can be in LKR or CBSL-approved FX currencies. Early withdrawal is prohibited for these deposits.

Cash Management and Payments

The bank facilitates various cash management and payment solutions. Common Electronic Fund Transfer Switch (CEFTS) supports real-time LKR payments. These low-value payments are up to LKR 5 million via SLIPS rails. CEFTS operates 18x5 hours for instant settlement. Paylink Giro uses three daily SLIPS cycles. File uploads occur via CitiDirect BE® for batch LKR processing. Paylink Payroll ensures next-day beneficiary credit. It uses ACH-style remittance files.

Paylink Managers Checks have a six-month validity. Checks are MICR-encoded and can be issued via CitiConnect®. Real-Time Gross Settlement (RTGS) handles high-value payments. Payments exceeding LKR 5 million use SWIFT MT 103/202 formats. Book Transfers enable same-day interbank LKR/FC transfers. SWIFT MT 202/205 support is available. Outward Telegraphic Transfers (TT) facilitate cross-border FX payments. GPI-enabled tracking provides end-to-end visibility.

Lending, Trade, and Electronic Channels

Citibank offers Working Capital and Lending products. Citi Overdraft Facilities are revolving cash-flow lines. Pricing links to the Bloomberg LKR-O/N reference rate. Short-Term Working Capital Loans have tenures up to 12 months. Interest reset options include daily O/N and 1-month MCLR-linked. Trade and Supply-Chain Finance solutions are also provided. Citi Letters of Credit (LC) comply with UCP 600. Negotiation and confirmation use SWIFT MT 700/701.

Citi Documentary Collections follow URC 522 rules. Electronic presentation is via CitiDirect BE® Trade Services. Citi Bank Guarantees adhere to the ISP 98 framework. These include tender and performance guarantees. Supply Chain Finance involves receivables discounting. Direct API integration supports invoice upload via CitiConnect®. Treasury and Markets Products include FX Spot and Forward. FX Spot settles T+2; execution via Bloomberg SPLT or CitiDirect BE®. FX Forwards offer maturities up to 12 months with daily MTM. FX Swaps provide overnight to N-morning legs up to 1 year.

Citi FX Options include vanilla puts/calls. Premium is settled upfront; daily delta-hedge valuation occurs. Citi Treasury Bills allow primary participation in CBSL auctions. Tenures are 3, 6, or 12 months; secondary market execution is available. Electronic access channels include CitiDirect BE®. This web portal offers single sign-on and file exchange. It features Payment Analytics and ReceivablesVision widgets. eBAM (Electronic Bank Account Management) is also available. CitiDirect BE® Mobile provides real-time payment initiation. CitiConnect® offers host-to-host connectivity via SWIFT MX and ISO 20022 XML. Citi Payment Insights enables gpi end-to-end payment tracking.