Choose from five tiered bundles for total banking coverage.
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.
What banking products does Citibank offer?
A universal perk is that none of its accounts require a minimum deposit to open.
How does Citibank compare to other banks or services?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.
Why should I open an account at Citibank?
Your bank’s strengths should align with your financial priorities. Citibank‘s include:
- 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.
- Wide-ranging ATM access. It has over 60,000 fee-free ATMs around the country, especially handy if you live in an urban area.
- International service. Citibank has about 1,800 branch locations overseas, which is convenient if you plan to travel for business or pleasure.
What should I look out for?
If you’re looking to avoid extra costs and make money through interest, before signing with Citibank you’ll want to consider:
- 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.
- 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.
- 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
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.
Citibank reviews and complaints
The BBB 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.
Citibank customer service
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
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.