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?
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.
How to waive the fee
Non-Citibank ATM fee
Combined monthly balance of $1,500
Make a qualifying direct deposit
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
Combined monthly balance of $10,000 in linked accounts
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.
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.
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.
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
Katia Iervasi Writer
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.
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 Attn: CPS 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.
Frequently asked questions
It’s routing number is 314074269.
Earn ThankYou Rewards with three of its top tier options: The Citibank Account, Citi Priority and Citigold packages.
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.
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:
Amy Stoltenberg is a staff writer covering all things travel, shopping and lifestyle. After earning a BA at Savannah College of Art and Design, she worked as technical designer in corporate fashion before opting for a career with unlimited travel time. When her laptop's closed, you can find her wandering around Los Angeles looking for hole-in-the-wall eateries and plotting her way to all 50 states (she's currently at 28).
Compare Citi CD terms to find the savings option that’s worthy of your time and money.
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