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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

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Citi Priority Package - $700 Bonus - Learn More

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

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Benefits and Features

Savings0.04% - 0.06% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.0.03% 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.
CD0.05% - 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.Standard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.50% APY. Terms of 12, 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.Approximately 15,900 ATMs around the country.
IRA CDCan 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.Standard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.50% APY. Terms of 12, 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

Savings
CD
Checking
Customer Service
Mobile App
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 12/13/2019.

Bank of America: Pricing information from published website as of 12/12/2019 based on 91107 zip code.

Which is Better: Citibank or Bank of America?

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


Articles on Citibank


Articles on Bank of America


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