by Bank Network Management (BNM) is a global team with presence in various locations. The team manages relationships with agent banks to provide transparency, governance, and control over real World Bank accounts which Citigroup holds globally, both with Citi affiliates and 3rd party banks. BNM manages key relationships with the global agent bank and custody service providers, Finance, Regulatory, Legal & Compliance, Global Operations, Global Treasury, Product teams, etc.
Services include managing of: bank relations, pricing negotiations, service reviews, regulatory support & documentation and acting as a centralized escalation point.
An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network.
However, the functions which may be performed at the network ATM vary. For example, special services, such as the purchase of mobile phone airtime, may be available to own-bank but not to network ATM cardholders. Furthermore, the network ATM owner may charge a fee for use of network cards (in addition to any fees imposed by the own-bank).
Interbank networks enable ATM cardholders to have access to ATMs of other banks that are members of the network when their own bank’s ATM is unavailable. This is especially convenient for travelers traveling abroad, where multinational interbank networks, like Plus or Cirrus, are widely available.
Interbank networks also permit, through different means, the use of ATM cards at a point of sale through the use of a special EFTPOS terminal where ATM cards are treated as debit cards.
