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Understanding the Table:
The comparison table above helps you see the total cost of your Citibank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Citibank's exchange rates for wire transfers are generally competitive and transparent, which makes it a good choice for customers who need to send or receive money internationally. However, it's always a good idea to compare rates and fees across different banks and financial institutions to ensure you're getting the best deal possible.
FX Order Watch: Citibank's FX Order Watch allows customers to set their own exchange rates and automatically execute foreign exchange transactions when the desired exchange rate is reached.
When you get a quote for your Citibank Wire Transfer from their website or in-app, you will see the Citibank exchange rate, but it can be difficult to then calculate how much mark-up you are being charged.
While all banks charge this mark-up, the extra amount being charged is much higher than it would be with a global money transfer specialist.
Sending or receiving international transfers to or from your Citibank bank account will include a margin rate of between 3.5% to 8% – this is much higher than most money transfer broker rates (which are normally 0.5 to 1.5%).
The Citibank CAD to PHP exchange rate is 39.46. This is -5.2% compared to the latest CAD-PHP mid-market rate 41.63.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Canadian dollar (CAD) to Philippine peso (PHP) rates from different sources before making a conversion.
The above Citibank - Loonie to Peso comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Citibank and other foreign exchange providers against the latest CAD-PHP mid-rate and the possible savings of using various providers.
Looking at the full CAD to PHP - Send Money comparison table the provider with the best CAD to PHP exchange rate is OFX at 41.42, -0.5% from the latest mid-market rate 41.63.
The next best is Wise at 41.39, -0.58% from the mid-rate.
Then XE at 41.38, which is -0.6% from the mid-rate.
The Western Union rate is 41.22 which is -0.98% from the mid-rate.
Among the banks the TD Bank rate is 39.41 at -5.3% and the Royal Bank of Canada rate is 39.78 at -4.4% compared to the mid-rate 41.63.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Citibank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
