Citibank vs Bank of America

Citibank is a large national bank best for high balance customers. How does it compare to Bank of America? Read our comparison chart below.

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.

While 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.

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

	Citibank	Bank of America
	SPECIAL OFFER Citi Accelerate Savings Account - 0.50% APY - Learn More Read Citibank Review	SPECIAL OFFER Advantage Plus Banking Checking Account - $100 Bonus - Learn More Read Bank of America Review
	Benefits and Features
Savings	0.04% - 0.15% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.	0.01% APY (up to 0.05% 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.
CD	0.05% - 0.25% 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.	Standard Term CD: 0.03% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.05% APY. Terms of 7, 10, 13, 25, and 37 months. Minimum deposit of $10,000.
Money Market	A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Customer Service	24/7 Live Customer Service (Telephone)	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
ATMs	2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs.	Over 16,000 ATMs around the country.
IRA CD	Can convert an IRA to a regular CD account. 0.05% - 0.25% 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.	Standard Term CD: 0.03% APY. Terms of 6 month to 10 years. Minimum deposit of $1,000. Featured CD: 0.05% APY. Terms of 7, 10, 13, 25, and 37 months. Minimum deposit of $2,000.
IRA Money Market	Can convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Locations	700 Citibank branches across 13 states (mostly in California and New York)	4600 retail financial centres around the country and brances in more than 40 other countries.
	CreditDonkey® Reviews
Savings
CD
Checking
Customer Service
Mobile App
Pros & Cons	Pros: Perks for high balance customers Many fee-free ATMs Global presence Cons: No free checking option Higher balance requirements Low savings APY	Pros: National availability Extended customer service hours Full service bank Cons: No free checking option Low interest rates Many misc. banking fees
Bottom Line	Large national bank best for high balance customers... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	Citi Accelerate Savings Account - 0.50% APY Citi Account Packages - Up to $1,500 Bonus Citi Savings Account - Up to $3,000 Bonus	Advantage Plus Banking Checking Account - $100 Bonus Advantage Relationship Banking Checking Account - $100 Bonus Advantage SafeBalance Banking Checking Account - $100 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 2/24/2021. Bank of America: Pricing information from published website as of 2/24/2021. based on 91107 zip code.

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