Citibank Review: Account Good for You?

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?

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.

	CitibankChaseUS BankHSBCBMO BankDiscover Bank Member FDIC	Member FDIC
	Learn More	Learn More
	Citibank	Bank of America
	OFFER Checking with Enhanced Direct Deposit - $300 Cash Bonus	OFFER Bank of America Advantage Banking - $200 Bonus Offer
	Benefits and Features
Savings	Citi® Accelerate High-Yield Savings: Available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois. Citi® Savings: Available in CA, CT, DC, MD, NV, NJ, NY, VA, and select markets in Florida and Illinois.
CD
Checking
Money Market
ATMs	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.	Approximately 16,000+ ATMs
Customer Service	24/7 Live Customer Service (Telephone)	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
IRA CD
Locations	More than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami)	3,922 financial centers
	Learn More	Learn More
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Citibank: Pricing information from published website as of 04/09/2024. 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. Bank of America: Pricing information from published website as of 04/09/2024 based on 91107 zip code.

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.

	Citibank	Capital One
	OFFER Checking with Enhanced Direct Deposit - $300 Cash Bonus	SPECIAL OFFER Personal Savings Account - $1,500 Bonus - Learn More
	Benefits and Features
Savings	Citi® Accelerate High-Yield Savings: Available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois. Citi® Savings: Available in CA, CT, DC, MD, NV, NJ, NY, VA, and select markets in Florida and Illinois.	4.25% APY
CD		3.90% to 5.10% APY. Terms of 6 months to 5 years. 12-month CD APY of 4.80%
Checking		0.10% APY
Money Market
ATMs	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.	Over 70,000 no-fee Capital One & Allpoint ATMs
Customer Service	24/7 Live Customer Service (Telephone)	Mon-Sun: 8am - 11pm (ET)
Locations	More than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami)	273 branches
		Personal Savings Account - $1,500 Bonus Personal Savings Account - $750 Bonus Personal Savings Account - $300 Bonus
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Citibank: Pricing information from published website as of 04/09/2024. 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. Capital One: Pricing information from published website as of 04/13/2024.

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Bottom Line

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