Updated January 11, 2024

Citibank Review: Account Good for You?

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

5-point scale from CreditDonkey

Pros and Cons

  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
  • No free checking option
  • Higher balance requirements
  • Low savings APY

Bottom Line

Large national bank best for high balance customers

Citibank has a large number of branches and ATMs throughout the US. But it's a bank geared towards those with high balances in their deposit accounts.

Low-balance customers may find the requirements too high and the perks a bit lacking. See if their offerings are good for you.

Services Offered

Citibank offers the following:

  • Access Account: This is for consumers who don't write checks. Even though you get a checking account, it doesn't come with paper checks.

    Instead, you can use Citi's online banking platform to pay your bills and manage your finances. There are no overdraft fees for this account because Citi won't approve transactions that exceed your balance.

  • Basic Banking: If you won't keep a balance higher than $1,500 in your account, but you want access to paper checks, the Basic Banking account is a good choice. You can write an unlimited number of checks, and use online banking services and Citibank or partner ATMs.

  • Citibank Account: If you keep a minimum of $10,000 in your checking, savings, retirement, or investment accounts, you can use the Citibank Account.

    In exchange for the larger balance, you won't pay any non-Citibank ATM fees and you get your first order of checks free of charge.

  • Citi Priority: With a combined average monthly balance of $30,000+, the Citi Priority offers financial advice over the phone from a Citi Financial Advisor.

    You'll also get preferred rates on deposit products, and waived fees in addition to the standard benefits of online banking and use of Citi ATMs worldwide.

  • Citigold: With a combined average monthly balance of $200,000+, the Citigold also offers a dedicated financial services team, around-the-clock customer support, waived or reduced fees, and preferred pricing and rates on Citi deposit products.

The information for Access Account, Basic Banking, Citibank Account, Citi Priority, and Citigold has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Citi also offers a variety of CD and IRA options to help you reach your investment and/or retirement goals.

Reasons We Like Citibank

  • Citibank has a large network of ATMs that you can use fee-free. More than 70,000 fee-free ATMs at Citi branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo.

  • Citibank has more than 1,800 branches outside of the United States. If you travel, it may be helpful to have your bank in the country you travel to as it can save you money and confusion.

    Keep in mind that foreign exchange fees may apply to any withdrawals made overseas.

    Your Citibank Routing Number:
    Each state that Citibank is located in has its own routing number. Use the routing number on the lower left-hand side of your checks when routing money to your account either via Direct Deposit or from any other type of transfer.

  • You can pay your bills online through your Citi checking account. If you are tired of mailing paper checks, you can set up online bill pay right through your Citi account.

    This service is free and handles paying your bills for you, whether you set up a one-time payment or put your bills on a recurring payment status.

  • You can make mobile deposits with the Citibank app. As long as you have an iPhone, iPod Touch, or Android device, you can download the Citibank app.

    Within the app, you can deposit your checks from the comfort of your own home by taking a picture of the front/back of the check and following the on-screen prompts.

    Citibank Credit Card: Citi offers a large variety of credit cards, each with its own benefits. Whether you want to earn rewards, avoid late/penalty fees, or want to earn cash back, Citi offers a variety of options.

  • The online Citibank platform is user-friendly. Whether you need to transfer funds, pay a bill, check balances, or review your spending, the online platform is easy to navigate.

    You can even link outside bank accounts to your Citi account to truly have one-stop banking when you log into your Citi account.

  • You have several options to contact Citibank's customer service. You can call 1-888-248-4226; chat online by logging into your account and choosing the "chat" option; or visit a branch in person.

    FYI: You can also make an appointment online through Citibank's portal.

  • Citibank offers a variety of CD options with terms ranging between 3 months to 5 years. They also offer automatic renewal at maturity and CD laddering to give you access to your funds while allowing the interest to grow.

  • You can open a Citibank IRA with either a money market account or CD. They are both FDIC insured. This gives you some reassurance that your retirement funds will be there even if Citibank were to go out of business.

Reasons You May Want to Look Elsewhere

  • The rates on their CDs are on the low side. If you compare the CD rates to other national banks, they may compare.

    But, if you compare them to nationwide online banks, the rates often pale in comparison. If you don't mind not having a physical branch to bank at, an online bank may be a better choice.

How It Compares

Bank of America:
Bank of America is more widely spread throughout the United States, making it easier to find a branch for in-person banking.

Like Citi, Bank of America also offers lower interest rates than online banks. However, Bank of America requires a minimum opening deposit while Citibank's basic account does not require one at all.

Capital One:
Capital One has caught on to the online banking competition. They made Capital One 360 as a result, which offers competitive interest rates. There are also no monthly fees or minimum monthly balance requirements.

The trade-off with Capital One 360 is the lack of physical branches to conduct your banking in person.

Compare Checking Account Promos

Compare Savings Accounts

Related: Citibank High Yield Savings available in select markets only

Bottom Line

Citi can be especially beneficial for those who travel or need access to a large ATM network.

Chase
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 7/24/2024
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 9/30/2024
  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 9/30/2024.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.
HSBC Bank
Member FDIC

HSBC Premier

Start an HSBC Premier relationship today. Premium banking with local and global benefits. Plus, access to wealth solutions offered through HSBC Securities, (USA), Inc.

Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.00% APY

  • 5.00% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

Write to Kim P at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

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About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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