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.
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.
- Combined monthly balance of $1,500
- Make one qualifying direct deposit or bill payment per statement period
|$2.50||No overdraft fees|
- 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|
|The Citibank Account Package||$25||Combined 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||$30||Combined monthly balance of $30,000+ in eligible linked accounts||Free|
|Citigold Account||$0, but you need to maintain a balance of $200,000 to remain eligible for the account||No fee but must maintain a combined monthly balance of $200,000+ in eligible linked accounts||Free|
- 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.
- 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.
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.
- 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.
- 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.
- 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.
- 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.
- 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 Citi branch.
- 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.
- 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
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.
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.
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
PO Box 769007
San Antonio, TX 78245-9966
Compare Citi to Chase. Or, use the table to compare Citi 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 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.
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.