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  • Citibank Credit Card Bill Payment Through IMPS And NEFT

    Credit card bill payment through IMPS/NEFT is one of the commonly used methods for making payments from non-Citibank savings or current accounts. Citibank credit cardholders who wish to clear their credit card outstanding using the funds from other bank accounts can resort to any of the fund transfer facilities based on their payment due date. If you're making payment on the due date, choosing IMPS would be a wise option as the fund transfer happens instantly while NEFT payment takes a little more time for processing. As both the options are available in most of the net banking accounts, you can make your Citibank credit card payments without leaving your convenience.

    Let's look at the detailed process of making Citibank credit card payment through IMPS and NEFT.

    Citibank Credit Card Bill Payment Through IMPS

    IMPS or Immediate Payment Service is the instant fund transfer facility that facilitates fund transfers among partner banks. Fund transfers or bill payments made using IMPS are instant and can be done even during non-business hours and on bank holidays. Hence, for instant credit card bill payment, you can choose IMPS as a preferred method.

    In order to pay your Citibank credit card bill from another bank account through IMPS, you must have internet banking account for your savings or current account from which you wish to make credit card payment. If you have internet banking access for your non-Citibank account, follow the instructions below to pay your Citibank credit card bill through IMPS.

    Steps To Pay Citibank Credit Card Bill Through IMPS

    • Login to internet banking account of your desired bank from which you would like to make Citibank credit card payment
    • Select 'Funds Transfer > Immediate Payment Service (IMPS)'
    • Click on 'Transfer to other bank account'
    • You will be prompted to 'Add Payee or Beneficiary'
    • Click on 'Add Payee or Beneficiary' and enter the following details as the payee information
    • Payee name - Name as on Citibank credit card
    • Payee bank name - Citibank N.A.
    • Payee account number - Citibank credit card number
    • IFSC code - CITI0000003 (Can be used by all Citibank credit card holders residing in any Indian city)
    • Branch Address : Chennai (Same for all the cardholders irrespective of their place of residence)
    • Once you entered the correct details, click on 'Confirm'

    Once the payee addition request has been initiated, it typically takes 30 minutes to update the same in your net banking account. You will receive a message once the payee is added following which you can make your Citibank credit card payment through IMPS. The following instructions will help you pay your bill in a few simple steps

    • Login to your net banking account
    • Go to 'Funds Transfer'
    • Select 'IMPS funds transfer'
    • Choose 'To another bank account'
    • From the payees list select 'Citibank Credit Card'
    • Enter the amount you would like to pay towards your Citibank Credit Card bill and click on 'Pay'

    The bill amount will be instantly credited to your Citibank Credit Card. You will receive a message from Citibank on your registered mobile number regarding your credit card bill payment.

    Advantages And Disadvantages Of Using IMPS To Pay Citibank Credit Card Bill

    • Pros
      • Instant payment
      • Internet banking makes it accessible from anywhere, anytime
      • Faster payment processing without any delays or cancellations
      • Easy to use
      • Payments can be made on any day even in non-business hours
    • Cons
      • Not all the banks offer the IMPS service for free
      • Not possible without internet banking account

    Citibank Credit Card Bill Payment Through NEFT

    National Electronic Funds Transfer or NEFT is another funds transfer method that allows savings and current bank account holders to transfer funds to other banks across the country. NEFT funds transfers will be processed batch-wise with a limited number of batches per day. The facility is available only on working days and the payments will be processed only during banking hours. If the payment is made after the specified time, it will be cleared on the following day.

    NEFT can be done at the bank's branch office at which you maintain your savings/current account as well as online through the associated internet banking account.

    Once you have internet banking access to your savings account, credit card bill payment through NEFT is almost similar to that of IMPS payment. Follow the instructions to pay Citibank credit card bill through NEFT.

    Steps To Pay Citibank Credit Card Bill Through NEFT Online

    • Login to your internet banking account
    • Find the 'Funds Transfer' option and select 'NEFT'
    • Select 'Transfer to other bank account'
    • Since you're making Citibank credit card payment from your account for the first time, you will be prompted to 'Add Payee' before initiating funds transfer
    • Select 'Add Payee' option
    • You now need to enter the following details under payee details
    • Payee name - Name as on Citibank credit card
    • Payee bank name - Citibank N.A.
    • Payee account number - Citibank credit card number
    • IFSC code - CITI0000003 (Can be used by all Citibank credit card holders residing in any city)
    • Branch Address : Chennai (Same for all the cardholders irrespective of their place of residence)
    • Once you entered the correct details, click on 'Confirm'

    Once the payee is added to your account, you will receive a message on your registered mobile number following which you can pay Citibank credit card bill through NEFT. Once you receive the message follow the steps mentioned below

    • Login to your net banking account
    • Under 'Funds Transfer', select 'NEFT funds transfer'
    • Click on 'To another bank account'
    • From the payees list select 'Citibank Credit Card'
    • Enter Citibank Credit Card bill amount and click on 'Pay'

    Once you confirm the transaction, your NEFT request will then be initiated. Once the funds transfer happens, you will receive a message on your registered mobile number. You will also receive a message from Citibank when your credit card account gets credited with the payment.

    Merits And Demerits Of Using NEFT To Pay Citibank Credit Card Bill

    • Merits
      • IMPS facility is available online as well as offline
      • It's less likely that NEFT transaction gets cancelled
      • No minimum or maximum transfer limit
    • Demerits
      • Processing takes more than one working day if the transaction is initiated post banking hours
      • Most of the banks charge for NEFT transactions.
      • Payments will be processed only on bank working days and within business hours

    3 Simple Methods To Pay Your Citibank Credit Card Bill

    Citibank provides its credit card customers multiple ways to pay their credit card bill using Citibank account and also from other bank account. Knowing multiple payment channels would help you pay your bills on times in case you’re not able to use the same old method you used to pay your Citibank credit card bill. Mentioned below are three simple methods using which you can make Citibank credit card payment effortlessly.

    Method: 1 – Standing instructions in your Citibank online account

    If you have a Citibank account with the net banking service, you can opt for standing instruction feature, which allows you to set up a standing instruction on your account to pay your Citibank credit card bill on or before the due date every month. You will have an option to choose to pay either the minimum amount due or total amount due through the facility. Once the bank approves you’re set up, your Citibank credit card bill will be paid automatically every month from your Citi savings account. However, make sure you have sufficient funds in the account to prevent payment failure.

    Method: 2 – NEFT money transfer

    If you don’t have Citibank savings account, you can use any other bank account to pay your Citibank credit card bill. All you need to have is internet banking access to your savings account and you’re all set to pay your Citibank credit card bill using the NEFT option.

    To pay you credit card bill using NEFT, login to your net banking account, select funds transfer, add your Citibank card as payee and make the payment. While adding your credit card as payee, mention the name imprinted on the card as payee name, credit card number as account number, bank name as Citibank, IFSC code CITI0000003 and branch address as Chennai.

    Method:3 – Credit card payment through BillDesk

    BillDesk is another easy way to make your Citibank credit card payment from any other bank account. All you need to have is internet banking access to your bank account. Through BillDesk, you don’t have to add any beneficiary, you simply provide the credit card details and the bank name from which you wish make the payment. You will be redirected to the respective bank’s payment gateway to complete the payment.

    FAQ's On Citibank Credit Card Bill Payment Through IMPS / NEFT

    1. Can I pay credit card bill using IMPS without internet banking account?
    2. No, IMPS transactions can be made only online. To use the facility for credit card bill payment, you must have internet banking account with the bank where you maintain your savings or current account.

    3. Is the IFSC code for credit card payments different from regular IFSC codes?
    4. Yes, the IFSC code for Citibank credit card payments is unique and is different from regular IFSC codes that are used for funds transfer. The IFSC code for Citibank credit card payments is CITI0000003 irrespective of your location, branch and card type.

    5. Is the IMPS facility for credit card bill payment free?
    6. Banks typically charge a nominal fee for IMPS transactions. Hence, credit card payments made through IMPS may also attract a fee based on the amount of transaction.

    7. Which details should I submit while adding payee or beneficiary?
    8. The bank to which you're transferring funds or making payments through IMPS or NEFT becomes your payee or beneficiary. For credit card bill payments, the credit card account towards which you're making the payment becomes the payee or beneficiary.

    9. How to pay my credit card bill at my bank branch office through NEFT?
    10. Visit the bank branch office at which you maintained your savings or current account. Fill the NEFT funds transfer form and submit it to the bank along with the bill amount.

      

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