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Compare Citi products: Savings, Checking, and CDs

Choose from five packages for total banking coverage.

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By

Amy Stoltenberg

&

Cassidy Horton

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If you’re looking for comprehensive service, one of Citi‘s account 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 Citi offer?

Citi organizes its accounts into different account packages.

So instead of considering individual products, compare the mix of checking and savings accounts within each package. With account packages that include both checking and savings accounts, you can open just the checking account if that suits you best.

A universal perk is that none of its accounts require a minimum deposit to open. However, you need to maintain a minimum balance to avoid the monthly fee.

Personal packages

PackageMonthly feeHow to waive the feeNon-Citi ATM feeOther features
Access Account$10
  • Combined monthly balance of $1,500
  • Make one qualifying direct deposit or bill payment per statement period
$2.50No overdraft fees
Basic Banking$12
  • Age 62+ and account opened
  • Joint account owner is a minor and account opened
  • Combined monthly balance of $1,500
  • Make one qualifying direct deposit and qualifying bill payment
$2.50, waived if you’re aged 62+ with an account opened
  • Unlimited checkwriting
The Citibank Account Package$25Combined monthly balance of $10,000+ in eligible linked accounts$2.50, waived by keeping a $10,000+ balance
  • Eligible for Citi ThankYou Rewards points
Citi Priority Account$30Combined monthly balance of $30,000+ in eligible linked accountsFree
Citigold Account$0, but you need to maintain a balance of $200,000 to remain eligible for the accountNo fee but must maintain a combined monthly balance of $200,000+ in eligible linked accountsFree
  • Partner with a Citigold Relationship Manager and Citi Personal Wealth Management Financial Advisor
  • Annual investment account fee is waived
  • Free checkbooks

Your savings account APY depends on the Citi account package that you choose, so be sure to find out how much interest you could earn before deciding.

Business accounts

Other products

  • Lending. It offers personal loans and lines of credit, as well as mortgages and home equity loans.
  • Investing. Prepare for retirement, college and other life events with Citi Personal Wealth Management.
  • Credit cards. It offers 13 credit cards, including some through partnerships with American Airlines and Costco.

What is Citi Priority and how does it work?

Citi Priority is a premium tier of financial perks available to Citi 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 up to a $2,000 bonus when you open eligible new checking and savings accounts in the Citi Priority tier and maintain minimum required balances for 60 days.

How does Citi compare to other banks or services?

Citi‘s package system potentially makes it a one-stop shop for your financial needs. But other banks may have better deals for users with lower monthly balances.

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.

Checking accounts

Pros

  • Wide-ranging ATM access. It has over 70,000 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 Citi.

Cons

  • Monthly fees. Most Citi checking accounts has associated monthly fees ranging from $10 to $30 a month.
  • Strict transaction requirements. For basic Citi packages, you’ll need to maintain a daily balance of at least $1,500 to $10,000 to waive monthly fees.
  • Overdraft fees. You pay each time you overdraw on your account, up to four times a day. If you have a connected Citi account, you pay a $10 fee to have money transferred to your account to cover the negative balance.

Savings accounts

Pros

  • Signup bonuses. New account holders can take advantage of signup bonuses when they open a savings account with Citi.
  • 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 automatically sent to your savings account each month.

Cons

  • Less competitive APY on savings accounts. The APY on its standard account starts at , which isn’t as high as competitors like Goldman Sachs’s Marcus or Ally’s online savings account.
  • Monthly fees. Same as Citi checking accounts, you 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 Citi.

CDs

Pros

  • 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.

Cons

  • 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 Citi branch.

Overall banking

Pros

  • Link your accounts. If you’re hoping to pack your checking, savings, investment accounts and loans all together, Citi might be right for you.
  • International service. Citi 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.

Cons

  • Monthly maintenance fees. To waive excess charges, you 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

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Katia Iervasi
Writer

I chose Citi 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 Citi 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 Citi‘s physical presence. I can dip my debit card into a huge network of Citi 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.

Citi reviews and complaints

As of June 2022, the Better Business Bureau (BBB) gives Citi an F rating — the lowest possible. It hasn’t responded to 76 complaints on the BBB, and the government took against Citi 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.

Nearly 500 customer ratings average only 1.04 stars out of 5, with 1,041 complaints overall. Also, there’s more than a million complaints filed against Citi on the Consumer Financial Protection Bureau database.

However, it’s a member of the FDIC, and the Federal Financial Institutions Examination Council gave it an “Outstanding” rating — so it’s considered legitimate by government-backed institutions.

Citi customer service

Get support from Citi in the following ways:

  • Phone: For online banking support, call 800-374-9700.
  • Chat online: Log in to your Citi 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 Citi client services at: US Service Center
    Attn: CPS
    PO Box 769007
    San Antonio, TX 78245-9966

Compare Citi with leading bank accounts

Compare checking and savings accounts by monthly fee, opening deposit and APY. Select Compare to see up to four accounts side-by-side.

$
Name Product Account type Annual Percentage Yield (APY) FDIC or NCUA insured amount Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
UFB Secure Savings
Finder Rating: 4.7 / 5: ★★★★★
UFB Secure Savings
Traditional savings,Custodial account

5.25%

Up to $250,000
$0
$0
$1,052.50
Go to site
View details
SoFi Checking and Savings
Finder Rating: 4.6 / 5: ★★★★★
Bonus
SoFi Checking and Savings
Traditional savings,Checking

4.60%

0.50%

1.20%

Up to $250,000
$0
$0
Earn up to $300 with a qualifying direct deposit, terms apply. This offer is available until December 31, 2023.
$1,046
Go to site
View details
American Express® High Yield Savings Account
Finder Rating: 4.9 / 5: ★★★★★
American Express® High Yield Savings Account
Traditional savings

4.30%

Up to $250,000
$1
$0
$1,043
Go to site
View details
Wealthfront Cash Account
Finder Rating: 4.6 / 5: ★★★★★
Wealthfront Cash Account

5.00%

Up to $8M FDIC insurance
$1
$1
$1,050
Go to site
View details
Valley Direct High Yield Savings Account
Finder Rating: 4.6 / 5: ★★★★★
Valley Direct High Yield Savings Account
Savings app

5.25%

$250,000
$0.01
$1
$1,052.50
Go to site
View details
Customers Bank High Yield Savings Through Raisin
Not rated yet
Customers Bank High Yield Savings Through Raisin
Traditional savings

5.30%

$0
$1
$1,053
Go to site
View details
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Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Crescent Bank CDs
Finder Rating: 4.8 / 5: ★★★★★
Crescent Bank CDs
N/A
5.35%
4.70%
$1,000
Earn competitive rates up to 5.35% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Go to site
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
N/A
5.51%
N/A
$1
Get 5.51% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Go to site
Quontic Bank CD
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CD
5.05%
5.30%
4.30%
$500
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Go to site
More Info
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
4.00%
N/A
N/A
$1
Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.
Go to site
More Info
Sallie Mae CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Sallie Mae CDs through Raisin
N/A
N/A
N/A
$1
Lock in strong CD rates as high as APY on term lengths you'll only find through Raisin. Plus, you only need $1 to open and you have the option of opening a no-penalty CD. Member FDIC.
Go to site
More Info
Discover CDs
Finder Rating: 3.8 / 5: ★★★★★
Discover CDs
3.40%
5.20%
4.00%
$2,500
Start saving with $2,500 and enjoy flexible terms from 3 months to 10 years with no account fees. FDIC insured
Go to site
More Info
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      Bottom line

      If you prefer to house your accounts under one roof — and the monthly balance requirements are feasible for your situation — Citi could let you check banking off your to-do list. But if you’re hoping for a high APY or you want to pick and choose your product mix, shop around for banks that offer more flexibility.

      Frequently asked questions

      Which packages qualify for Citi‘s ThankYou Rewards Points?
      Earn ThankYou Rewards with three of its top tier options: The Citibank Account Package, Citi Priority and Citigold packages.

      Which states have branch locations?Citi 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.

      More guides on Finder

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