Citigroup Expands its WorldLink Payment Services, Offering More Currencies than Any Other Bank; Additional Enhancements Increase International Payment Service and Options.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- WorldLink(R) Payment Services, Citigroup's flagship cross-border payments product, has expanded to offer funds transfer capabilities in 30 additional currencies. Now offering service in 137 currencies, Citigroup has created an unparalleled platform among global banks. Corporations, financial institutions and governments use WorldLink to make payments in multiple countries for everything from payroll, goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. to taxes and shareholder dividends. They can also receive cross-border funds transfers with WorldLink. As part of their efforts to improve their global treasury operations, create shared service centers and streamline treasury and foreign exchange transactions across their organizations, clients often integrate the WorldLink solution into their enterprise-wide systems. "Integrating WorldLink Payment Services gives clients more control over cash flows and foreign currency transactions on both a local and global scale, and can help minimize risk and secure more competitive foreign currency rates for them" said Dan Nagy, Managing Director, Citigroup(R) Global Transaction Services. More, and Faster Payment Options Additional enhancements to WorldLink Payment Services that give users more control and flexibility in making, cross-border payments include: --Ability to make payments via ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to and GIRO: Users can make payments through local ACH (Automated Clearing House See ACH. ) and GIRO clearing systems, in addition to electronic funds transfers See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. and remote (we print country-specific cheques) and on-site cheques (users print at their own location). --Same-Day Funds Transfers: Same-day or overnight funds transfers are available in 21 currencies, providing a faster payment delivery and FX settlement alternative to the "standard" two-day service. --Expanded Online Reporting: Online reporting, a WorldLink feature popular with users, allows them to view, print and download reports and statements via the Internet. Billing statement, cheque registers and various WorldLink reference materials also are available online. Unlike other international payment offerings, WorldLink Payment Services is non-account based, which means that organizations that use the service do not have to open local currency accounts to use it. First offered 20 years ago, WorldLink today leverages Web-based platforms and the latest technology to process approximately 12 million cross-border payments, valued at over $430 billion, each year. Global Finance named Citigroup, based on the strength of offerings such as WorldLink, the Best Internet Bank in the world in 2004 and Best Bank for Treasury and Cash Management in 2005. The company also has received numerous awards from Euromoney and Treasury and Risk Management. For more information about WorldLink, visit www.transactionservices.citigroup.com. Citigroup (NYSE NYSE See: New York Stock Exchange : C), the leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers Life and Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. . Additional information may be found at www.citigroup.com. Citigroup(R) Global Transaction Services is a leading provider of integrated cash management, trade, securities and fund services for corporations, financial institutions, intermediaries and governments around the world. With over $ 139 billion in average liability balances, more than $ 7.98 trillion in assets under custody and the largest proprietary branch network, Citigroup's award-winning operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. and Internet-based delivery channels enable clients to manage and monitor working capital and investments more efficiently, streamline transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. cycles, and re-engineer receivables and payment processes. Citigroup(R) Global Transaction Services provides clients with access to Citigroup's full range of capabilities and solutions along with an on-the-ground presence and in-depth knowledge of more than 90 local markets. For additional information, see www.transactionservices.citigroup.com. Citigroup Global Transaction Services is part of Citigroup's Corporate and Investment Banking, which provides complete financial solutions to corporations, governments and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. in more than 100 countries. Award-winning businesses include corporate and investment banking, sales and trading, transaction services, commercial finance and insurance products. Additional information can be found at: www.citigroupgcib.com |
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