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Bank of America vs Citibank

Bank of America is a national bank with widespread accessibility and wide range of services. How does it compare to Citibank? Read our comparison chart below.

Bank of America is one of the largest banks in the U.S. with over 5,000 locations and 16,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

While Citibank has 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

Compare Bank of America with Citibank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

Bank of America

Citibank

SPECIAL OFFER
Advantage Plus Banking Checking Account - $100 Bonus - Learn More

Read Bank of America Review

SPECIAL OFFER
Citi Priority Package - $700 Bonus - Learn More

Read Citibank Review

 

Benefits and Features

Savings0.03% APY (up to 0.06% if enrolled in Preferred Rewards). $8 monthly maintenance fee, unless you have 1) daily balance of $500, 2) are a Bank of America Preferred Rewards Client, or 3) link your Rewards Savings Account to your Interest Checking Account. Minimum deposit of $100.0.04% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.
CDStandard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.60% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $10,000.0.05% - 1.75% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
Money Market A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Customer ServiceMon-Fri: 8am - 9pm(ET)
Sat: 8am - 8pm (ET)
Sun: 8am-5pm (ET)
24/7 Live Customer Service (Telephone)
ATMsApproximately 15,900 ATMs around the country.2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs.
IRA CDStandard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.60% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $2,000.Can convert an IRA to a regular CD account. 0.05% - 1.75% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
IRA Money Market Can convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Locations4600 retail financial centres around the country and brances in more than 40 other countries.700 Citibank branches across 13 states (mostly in California and New York)
 

CreditDonkey® Reviews

Savings
CD
Checking
Customer Service
Mobile App
Pros & ConsPros:
  • National availability
  • Extended customer service hours
  • Full service bank
Cons:
  • No free checking option
  • Low interest rates
  • Many misc. banking fees
Pros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Bottom LineNational bank with widespread accessibility and wide range of services... Read full reviewLarge national bank best for high balance customers... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Bank of America: Pricing information from published website as of 11/15/2019 based on 91107 zip code.

Citibank: Pricing information from published website as of 11/15/2019.

Which is Better: Bank of America or Citibank?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Bank of America or Chase.


Articles on Bank of America


Articles on Citibank

    Citibank Review

    Citibank offers credit cards and banking services. But service fees and balance requirements are on the high side. Is it the right bank for you? Keep reading to find out.

    Citibank Routing Number

    Looking to transfer money in or out of your Citibank checking or savings account? You'll need the right routing number. Find your Citibank routing number and learn about money transfers below.

Which Do You Think is Best?

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