Citigroup Gets Into Online Payment Services Game

Citigroup has decided to jump onto the online cash transfer bandwagon. The company's new service, c2it, will give Citigroup customers the ability to transfer cash online from a bank, brokerage or credit card account to a recipient's designated account through Citibank.

The c2it service is available to anyone in the United States with an email address, according to company sources. Using c2it, customers will be able to pay monthly bills and transfer funds to any accounts, reports Anthony Jenkins, a Citigroup executive.

The new service will be offered free for the first three months, and a transaction fee of perhaps $2.00 will apply after the introductory period.

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