Bank-to-bank transfers are a way to transfer funds from one account to another. When speaking of bank-to-bank transfers, most people mean transfers that use the automated clearing house network.

The bank is currently striving to convince regulators that it has addressed long-standing operational issues, and this incident may undermine those efforts. The erroneous internal transfer ...

Last year, Citi had a total of 10 "near misses" of $1 billion or greater, the Financial Times reported. Near misses are when a bank mistakenly credits a customer's account with the wrong amount but ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Citigroup credited a client’s account with $81tn when it meant to send only ...