The benefits explained
- Open checking and savings accounts with no minimum deposit: Citibank offers six checking and savings account packages and an online savings account. Each of these accounts does not require a minimum opening deposit.
- World‘s the largest credit card issuer: As the largest credit card issuer in the world, Citibank has many credit card options available to customers. Credit card purchases can earn airline miles, cash back, travel rewards or the bank’s exclusive thank you points.
- More than 65,000 free ATMs in the United States: With so many ATMs in the US, customers should be able to find a nearby Citibank ATM to avoid fees.
- Requirements to waive the monthly fee on checking accounts: Many banks offer at least one completely free account with no requirements. All Citibank checking accounts require either a minimum balance or qualifying activity to waive the fee. Addressing these obstacles can be a challenge for some clients.
- Need a current account to open savings and money market accounts: To open a savings bank or money market account with Citibank, these accounts must be opened as part of a checking package. Customers who only want a savings or money market account cannot open only these accounts.
- Up to $2.50 fee for using another bank‘ATM: If you use another bank’s ATM, Citibank will charge you $2.50 for each transaction if you have Basic or Access checking accounts. Other ATM fees are reimbursed if you have Citi Elevate or Citigold checking accounts.
Who is Citibank for?
As a large bank with over 2,300 branches and over 65,000 ATMs in the United States, Citibank offers convenient access to your money. While it’s not the best solution for customers who can’t meet the minimum balance requirements to waive the fee, it’s best suited for those who:
- Prioritize access to bank branches and ATMs
- Have enough money in their account to avoid monthly fees
- You want access to a variety of credit card options
- Desire multiple checking account options to fit their lifestyle
What does Citbank offer?
As you would expect from a financial services company of this size, Citibank offers a wide variety of accounts and services.
Citibank offers five regular current account packages and one high-yield package for customers based on their needs. Not all current account packages have a minimum opening deposit amount. However, each checking account package charges a monthly service fee if the minimum criteria is not met.
You can waive the monthly service fee for the Access Account and Basic Banking plans in one of three ways: make an eligible direct deposit, make an eligible bill payment, or maintain a combined average balance of 1,500 $ or more in eligible linked accounts.
Here are the current account packages to choose from:
- Access to account
- Basic banking services
- The Citibank account
- Citi Priority
- Citigold Private Client
The five regular current account packages come with a savings account. The CitiGold Private Client savings account must also be opened with a Citibank current account package. You cannot open this savings account without also opening a current account.
There is no minimum deposit required to open your savings account. This account has no monthly service fee and must be part of a Citibank verification package.
Money market account
The CitiBusiness account is a money market account that earns short-term market rates in an account insured by the Federal Deposit Insurance Corporation (FDIC). Account holders can write checks in all check packages except the Access Account package. The Citi Savings Account must be part of a Citibank checking package, and it does not have a separate monthly service fee.
Certificates of Deposit (CDs)
Citibank offers three certificates of deposit (CD) with unique features. All CDs require a minimum opening deposit, but some offer higher rates for larger balances.
The first is a fixed rate CD with terms ranging from three months to five years. A second option is a Step Up CD, where the rate increases every 10 months. The final option is a CD, where you’ll earn a guaranteed interest rate but can withdraw your balance at any time.
For CDs one year old or less, there is an early withdrawal penalty of 90 days of simple interest. If a CD matures in more than a year, the penalty is 180 days of simple interest.
|CITIBANK TERM CD PRICES|
|11 months||1.50% ($10,000 minimum deposit)|
|CITIBANK 30 MONTH STEP UP CD RATES|
|CITIBANK CD RATES WITHOUT PENALTY|
Citibank is the largest credit card issuer in the world, so there are several types of credit cards available for consumers and small business owners. These credit cards offer airline miles, travel rewards, cash back, and Citibank’s exclusive rewards called thank you points. Here are some of the credit cards offered by Citibank.
Citi Thank You Point Cards
- Citi Rewards+ Card
- Citi Personalized Payment Card
- Citi Premier Card
- Citi AT&T Access Card
Cash Back Credit Cards
- Citi Dual Charge Card
- Costco Anywhere Visa Card by Citi
- Citi/AAdvantage Platinum Select World Elite Mastercard
- American Airlines AAdvantage MileUp Mastercard
- Citi/AAdvantage Executive World Elite Mastercard
Business credit cards
- CitiBusiness / AAdvantage Platinum Select Mastercard
- Costco Anywhere Visa Business Card by Citi
Other financial products offered by Citibank
Citibank also offers many other banking products and services:
Your deposit and investment relationship with Citibank can save you money on other products. For example, you’ll save money by agreeing to automatically withdraw your mortgage payment from your Citibank account. You save $500 on mortgage closing costs by having a Citibank account.
Citibank customer service
Customers can access their accounts through the Citi Mobile app, CitiPhone banking, or Citi text banking. To speak with a live person, you can visit a branch, chat online, or call customer service.
On the Citi Mobile app, you can view account balances, make mobile check deposits, find nearby branches or ATMs, and make bill payments. If you are an Apple fan, you can pair the mobile app with your Apple Watch. The app is currently ranked #29 in the Finance category on the iOS App Store and has a 4.9 star rating. Similarly, the Google Play version has 4.7 stars.
You can also ask general questions about the account through the @AskCiti Twitter account. However, you should remember not to disclose your Citibank account number or other account access information when tweeting with @AskCiti.
JD Power recognized Citibank as highest in customer satisfaction for retail banking advice in February 2020.
How to bank with Citibank
Customers can open an account with Citibank at a branch, online or by phone. Once your account is opened, online banking and its mobile app are available to view transactions, transfer funds, or make bill payments.
Citibank is one of the largest financial institutions in the world. It offers a variety of account packages to suit your needs and has thousands of branches and ATMs to access your account. There are no minimum deposit requirements to open checking or savings accounts. However, Citibank accounts are best suited for people who can meet balance or activity requirements. These customers can waive fees with combined balances and receive discounts with relational rates.
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