Citibank organizes its accounts into different levels. So instead of considering individual products, compare the mix of checking and savings accounts within each package.
A universal perk is that none of its accounts require a minimum deposit to open.
- Combined monthly balance of $1,500
- Make a qualifying direct deposit
|$2.50||No overdraft fees|
- Be 62 or older
- Combined monthly balance of $1,500
- Make a qualifying direct deposit and a qualifying bill payment
|$2.50, waived if you’re 62 or older|
- Unlimited check writing
- Special perks if you’re 62 or older
|The Citibank Account||$25||Combined monthly balance of $10,000 in linked accounts||$2.50, waived by keeping a $10,000 balance|
|Citi Priority||$30||Combined monthly balance of $50,000 in linked accounts||Free|
- Partner up with a Citi Personal Wealth Management Financial Advisor
- Annual investment account fee is waived
- Free checkbooks
|Citigold||$0 but you need to maintain a balance of $200,000 to remain eligible for the account||N/A||Free|
- Partner with a Citigold Relationship Manager and Financial Advisor
- Annual investment account fee is waived
- Free checkbooks
The exact rate you get depends on the client package you choose, so be sure to find out how much interest you could earn before making a decision.
- Lending. It offers personal loans and lines of credit, as well as mortgages and home equity loans.
- Investing. Prepare for retirement, college and other live events with Citi Personal Wealth Management.
- Credit cards. It offers more than 16 credit cards, including some through partnerships with Expedia, American Airlines and Costco.
What is Citi Priority and how does it work?
Citi Priority is a premium tier of financial perks available to Citibank customers. You get access to on-demand support from a Citi Priority Advisor, personalized financial advice and preferred pricing on select Citi products and services.
For a limited time, you can earn a $700 bonus when you open new checking and savings accounts in the Citi Priority tier and maintain a minimum $50,000 balance across both accounts for 60 days.
Citibank‘s package system potentially makes it a one-stop shop for your financial needs. But other banks may have better deals for users with low monthly balances and simple needs.
Compared to giants like Wells Fargo and Bank of America, it ranks fourth for total domestic deposits. However, it’s 16th in the list of banks ranked by number of branches, with around 700 physical locations in 12 states nationwide. And other than South Dakota and Illinois, most locations are in coastal states.
- Wide-ranging ATM access. It has over 60,000 fee-free ATMs around the country, especially handy if you live in an urban area.
- Business checking option. Business owners can open a checking and savings account with Citibank.
- Interest-bearing options. The Citi Interest Checking account earns 0.01% APY on all account balances and earns rewards in the form of gift cards, discounts and travel points.
- Monthly fees. Most Citibank checking accounts has associated monthly fees ranging from $10 to $30 a month.
- Strict transaction requirements. For basic Citibank packages, you’ll need to maintain a daily balance of at least $1,500 to $10,000 to waive monthly fees.
- Overdraft fees. You’ll pay $34 each time you overdraw on your account, up to four times a day. If you have a connected Citibank account, you’ll pay a $10 fee to have money transferred to your account to cover the negative balance.
- Sign up bonuses. New account holders can take advantage of sign up bonuses when they open a savings account with Citibank.
- Low opening deposits. Open an account with as little money as you’d like.
- Auto save feature. Turn on this feature and have a set amount of money automatically sent to your savings account each month.
- Less competitive APY on savings accounts. The APY on its standard account starts at 0.04%, which isn’t as high as competitors like Goldman Sachs’s Marcus or Ally’s online savings account.
- Monthly fees. Same as Citibank checking accounts, you’ll pay a monthly fee on most accounts unless you maintain a certain minimum balance.
- Withdrawal limits. All savings accounts have a six-monthly transaction limit. At this time, it may be waived for a limited period. Check with the Citibank.
- Flexible CD terms. Terms range from three months to five years.
- Three CD options. Open a No-Penalty CD if you want more access to your money, a Step-Up CD if you want your rate to automatically increase every 10 months or a Fixed-Rate CD if you want to lock in a high rate.
- Automatic renewals. If you don’t withdraw your money during the grace period, your CD automatically renews for the same term, so your money keeps on growing.
- Variable minimum deposits. You’ll need at least $500 to $2,500 to open a CD depending on which state you live in.
- Early withdrawal penalty. You’ll lose 90 to 180 days interest if you need to withdraw your money early — unless you have a No-Penalty CD.
- Large in-person deposits. If you need to deposit more than $10,000, you may need to visit a local Citibank branch.
- Packages make it easy to link your accounts. If you’re hoping to pack your checking, savings, investment accounts and loans all together, Citibank might be right for you.
- International service. Citibank has about 1,800 branch locations overseas, which is convenient if you plan to travel for business or pleasure.
- 24/7 customer service. Live chat, call or tweet customer service at any time.
- Monthly maintenance fees. To waive excess charges, you’ll need to maintain a relatively hefty average balance, even at the most basic level. If you don’t have much cash to spare, service fees could bite.
- Shaky online consumer reputation. Sources like the Better Business Bureau and the Consumer Financial Protection Bureau reflect multiple customer complaints.
Case study: Katia’s experience – May 2019
I chose Citibank when I moved to the US, because it was one of the few banks that allowed me to open a checking account while I waited for a Social Security number. I was keen to start setting up my life here, so I was grateful for that flexibility!
Fast-forward a few years, and I’ve stayed with Citibank for other reasons.
First, I like how the checking account is automatically linked to a savings account. You don’t need a minimum opening deposit, and there are tiered savings accounts to match your goals.
Second, the app is sleek and easy to navigate. I can transfer funds, pay bills (for free), set notifications and deposit checks instantly. It also offers handy budgeting tools, such as a spending summary that lays out where my money is going — restaurants, travel, shopping and so on. It doesn’t always categorize my transactions correctly, but it’s close enough.
Finally, I appreciate Citibank’s physical presence. I can dip my debit card into a huge network of Citibank and MoneyPass ATMs for free. And if I need to speak to a banker, there’s usually a branch wherever I am in New York City. The team is responsive on live chat too: I’m often connected to a rep within 5 minutes, which is much faster than other big banks.
The Better Business Bureau gave it an F rating — the lowest possible. This is due to the fact that it hasn’t responded to 76 complaints, and also because the government has action taken against it for failing to follow the Truth in Lending Act. Basically, it wasn’t reevaluating the APRs on credit cards as frequently as it should have. 134 customer ratings average out to only one star, with 1,041 complaints overall. Also, there’s more than a million complaints filed against Citibank on the Consumer Financial Protection Bureau database.
However, it’s a member of the FDIC and FFIEC gave it an “Outstanding” rating, so it’s considered legitimate by government-backed institutions.
Get support from Citibank in the following ways:
- Phone: For online banking support, call 800-374-9700.
- Chat online: Log in to your Citibank account to talk to a representative over IM.
- Branch: Visit an office location to get face time with a banker.
- Mail: Send a note to Citibank client services at: US Service Center
PO Box 769007
San Antonio, TX 78245-9966
Compare Citibank to the competition
Compare Citibank to Chase. Or, use the table to compare Citibank to other top-rated institutions. Sort the columns by APYs, fees, minimum deposits to open and features to find an account that has everything you’re looking for.
If you like the idea of housing your accounts under one roof and the monthly balance requirements are feasible for your situation, Citibank could let you check banking off your to-do list. But if you’re hoping for a high APY or want to pick and choose your product mix, shop around for banks that offer more flexibility.
What is Citibank’s routing number?
It’s routing number is 314074269.
Which packages qualify for Citibank’s ThankYou Rewards Points?
Earn ThankYou Rewards with three of its top tier options: The Citibank Account, Citi Priority and Citigold packages.
Which states have branch locations?Citibank has brick-and-mortar locations in 12 states, including California, Connecticut, DC, Florida, Illinois, Maryland, Nevada, New Jersey, New York, Puerto Rico, South Dakota and Virginia.
How many countries does Citibank operate in?Citibank operates in nearly 100 countries throughout Asia, Europe, the Middle East, Africa, Latin America and North America.
Here’s a complete breakdown of foreign countries Citibank operates in:
- Congo (DRC)
- Costa Rica
- Czech Republic
- Dominican Republic
- El Salvador
- Hong Kong SAR
- Ivory Coast
- Macau SAR
- New Zealand
- Puerto Rico
- Saudi Arabia
- South Africa
- Sri Lanka
- Trinidad and Tobago
- United Arab Emirates
- United Kingdom
If you’re looking for comprehensive service, one of Citibank‘s packages could cover all your financial needs in one place. But make sure there’s a location near you if in-person availability is a priority.