What´s New with WorldLink® Payment Services

For over 20 years, WorldLink® Payment Services, WorldLink has been the complete cross border payments system enabling customers to make cross-border payments without the need to open accounts. WorldLink prides itself in being an innovative leader in non-accounts based payments, continuously improving and enhancing our offering. And we always know… the best is yet to come.

With that in mind we want to update you on what we have done to enhance WorldLink during the past year and we will continue to keep you posted about new capabilities that make this solution even more convenient, reliable and cost-effective.

WorldLink® Cash
New Funds Transfer Currencies
Cross Border ACH Payments
Same/Next Day Funds Transfers
Beneficiary Deduct Expansion
WorldLink Payment Services Reporting Online

WorldLink® Cash, our newest payment option  

WorldLink Cash—A quick, reliable and cost-effective way to send urgent low-value cash payments around the world without having to maintain a local bank account. When beneficiaries have time-critical needs for cash, WorldLink allows same day delivery of payments. Beneficiaries can collect funds in 190 countries and territories and over 220,000 locations worldwide, without language barriers or a local account. And with no lifting fees, recipients get the full amount due.

With WorldLink Cash, WorldLink Payment Services is now even more flexible, convenient, seamless and cost-effective than ever, and offers you the full spectrum of payments–from cash to cashless.

New Funds Transfer Currencies back to top

WorldLink Payment Services is continually expanding its list of supported currencies. With an additional 32 funds transfer currencies, WorldLink offers a total of 135 currencies to over 150 countries.

Cross-Border ACH Payments back to top

ACH is the general term that WorldLink Payment Services uses to refer to electronic payments that are processed through local country clearing systems rather than traditional funds transfers that clear through regional clearings systems such as CHIPS or EBA. ACH payments are traditionally low-value, non-urgent payments as they are processed with value dates of 2-5 days depending on the clearing country. More and more large value payments are being processed via ACH as long as they are non-urgent in nature.

The "standard" requirement for processing ACH payments is maintenance of a clearing account in each country where you will be making payments. With WorldLink Payment Services Cross Border ACH offering utilizes Citi owned accounts for processing your Cross Border ACH payments.

WorldLink Payment Services has expanded it´s Cross Border ACH payment offering to allow an additional 4 currencies. This expansion enables it´s clients to initiate Cross Border ACH payments in 11 currencies and to 21 countries.

Cross Border ACH Benefits at a Glance

  • Reduce costs by eliminating the need to maintain international nostro accounts to process local electronic payments.
  • Simplify payment processing by using a single communication interface for multiple payment types to multiple countries in multiple currencies.

Streamline settlement of your payments with one automatic debit to one of your Citi accounts for all payments regardless of the payment type, currency or country.

Same/Next Day Funds Transfers back to top

Increasing global complexities and industry competitiveness demand maximum convenience, flexibility and cost effectiveness in managing internal payments. In response to these global and market dynamics, WorldLink Payment Services offers same day or overnight funds transfer capabilities in 21 currencies.

When you need to disburse funds for immediate delivery or need to accommodate vendors who want funds credited directly to their accounts, you can depend on funds transfers via WorldLink Payment Services for the necessary support. Using the same process as “standard” two-day value funds transfer processing, the WorldLink same day offering allows you delivery payments with same day or overnight value via CitiDirect or SWIFT.

Please Note:
WorldLink Payment Services offers Same Day Funds Transfers on a commercially reasonable efforts basis. The ability to provide credit to the beneficiary bank on value date is subject to a variety of factors, including but not limited to, receipt of instructions by applicable cut-off time, proper funding, sufficient credit, ability of beneficiary bank to receive electronic funds transfers, and intervening holidays and non-business days in country of currency. Funds transfer instructions requiring a repair may be delayed.

A successful Same Day Funds Transfer will result in the beneficiary bank’s receipt of available funds; when funds are actually made available to the beneficiary is in not in the control of WorldLink Payment Services.

Beneficiary Deduct Expansion back to top

WorldLink Payment Services beneficiary deduct enables you to instruct Citi to deduct transaction fees from the principle (beneficiary) amount of your WorldLink payment. This flexible feature allows you eliminate or reduce transaction costs and customize fee deductions to meet specific market or client needs.

The WorldLink Payment Services beneficiary deduct capabilities have been expanded to include 39 currencies. Using our payment technology you can now deduct fees from 30 remote check currencies and from 39 funds transfer currencies initiated via SWIFT or file. Access: 365 days, 7 days per week.

The WorldLink Payment Services beneficiary deduct fees structure offers you flexibility in determining the amount to be deducted from eligible payments.

WorldLink Payment Services Reporting Online back to top

The WorldLink Payment Services reporting online system is an online reports management application. Using this system you can view, print and download your WorldLink reports and statements via a secure Internet environment. Now your billing statements, check registers, paid unadvised notifications and even your WorldLink Reference Booklet are available online.

Benefits at a Glance

  • Immediate access to reports after generation
  • Access 365 days a year, 7 days a week
  • Multiple users can access the same report at the same time
  • All reports retained online for one year from date of generation