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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

Savings0.04% - 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.
CD0.05% - 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 MarketA.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100. 
Customer Service24/7 Live Customer Service (Telephone)Mon-Fri: 8am - 9pm (ET)
Sat: 8am - 8pm (ET)
Sun: 8am - 5pm (ET)
ATMs2400 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 CDCan 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 MarketCan convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100. 
Locations700 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

SavingsStarStarStarEmpty StarEmpty StarStarStarStarEmpty StarEmpty Star
CDStarStarStarEmpty StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarEmpty StarEmpty StarStarStarHalf StarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Pros & ConsPros:
  • 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 LineLarge national bank best for high balance customers... Read full reviewNational bank with widespread accessibility and wide range of services... 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.

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.

Which is Better: Citibank or Bank of America?

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


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? Read this review 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.

Articles on Bank of America

Bank of America Review

Bank of America offers a nationwide network, many account options, and user-friendly online banking. But does this convenience come at a cost? Read on.

Bank of America Routing Number

Find your Bank of America routing number and learn about money transfers in our guide.

Which Do You Think is Best?





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