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Citi Accelerate Savings account review

Earn 0.5% APY on your balance, but only in select states.’s rating: 3.7 / 5.0


Citi now offers an online savings account with a competitive APY, called Citi Accelerate Savings. You’ll get the security of signing on with a Big Four bank and practical tools to help manage your money, but there’s a monthly service fee if your balance dips below $500.



$4.50 per month



Minimum deposit to open


Annual percentage yield (APY)0.50%
Fee$4.50 per month
To waive the feeMaintain an average monthly balance of $500
Minimum deposit to open$0
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$20

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The Citibank Accelerate Savings account is best for those who don’t live near a Citibank branch and want to take advantage of a high-yield savings account. It offers a competitive 0.5% APY that’s higher than most competing accounts, plus the option to earn rewards depending on the Citi package you choose at signup.

But it’s unavailable in eight states and customers have complained about issues with opening and funding the account.

If you don’t qualify for this account, the Citi Savings account may be your next best option. The APY tops out at a meager 0.06%, but you’ll have the ability to earn Citi ThankYou Rewards and special perks depending on your account package.

How do I open Citi Accelerate Savings account?

Open a Citi Accelerate Savings account in six easy steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Citi website, navigate to Savings from the Banking tab.
  3. Scroll to Accelerate Savings and click See Details.
  4. Scroll to the banking packages and click Apply Now below your desired option.
  5. Enter your personal information and click Next.
  6. Continue through the steps of verifying your details, entering your income information and funding your account. Then Submit your application.


You must meet general requirements to apply:

  • At least 18 years old
  • Residency in an eligible state
  • US citizen
  • Social Security number or taxpayer ID
  • Government-issued ID

Required information

Gather personal and financial details that include:

  • Name and contact information
  • Date of birth
  • Employment and income information

Choose a package to go with your account

When you open an account, you’ll need to choose from one of five Citi banking packages with varying monthly fees, waiver conditions, linked accounts and perks by state:

  • Access Account. Bundles digital check deposits, transfers and bill pay with no overdraft fees — but also no paper checks or ThankYou Rewards.
  • Basic Banking. Step up from Access with check-writing capabilities.
  • Citibank Account. Get the potential to earn interest on checking and savings with ThankYou Rewards and reimbursements on non-Citi ATM fees.
  • Citi Priority. Strengthen your investments with financial guidance, resources and preferred rates on products and services.
  • Citigold. Gilded support with interest checking, a dedicated relationship manager and the strongest investment capabilities.
  • Citi Elevate Account. You won’t get access to Citi ThankYou Rewards, but you’ll get unlimited refunds at non-Citi ATMs, the option to earn interest on your checking account balance and checkwriting privileges.

What are the benefits of the Citi Accelerate Savings account?

The perks you get with Citi Accelerate Savings ultimately depends on the account package you choose at sign up. That said, this FDIC-insured, high-yield savings account offers these benefits:

  • Competitive interest rate. In select areas, you can earn an APY as high as 0.5% — higher than many everyday savings accounts.
  • ThankYou Rewards. Citibank Account, Citi Priority or Citigold packages earn points that you can redeem for gift cards, travel rewards and more.
  • No minimum deposit. Open your account with any amount.

What should I look out for?

Watch out for potential drawbacks that can get in the way of leveraging your savings:

  • $4.50 monthly fee. Maintain a balance of at least $500 to avoid a service fee.
  • Overdraft fees. Citi charges $34 for overdrafts or $10 to cover the transaction unless you choose a high-tier package
  • Limited availability. You can only open this account online or by phone and it’s unavailable in the following states:
  • California
  • Connecticut
  • Florida
  • Illinois
  • Maryland
  • New Jersey
  • Nevada
  • New York
  • Virginia

    If you don’t live in an eligible state, you’ll want to keep looking. As always, compare your options when choosing a savings account.


    After speaking with a Citi representative, we were informed that this account is only available in states that don’t have a large presence of Citi branches. Some Reddit users mention issues opening this account due to their proximity to a branch, but Citi did not mention anything about distances when we reached out for more details.

    Compare Citi Accelerate Savings with other accounts

    Enter your deposit amount into the table to see how much interest you could earn with Citi Accelerate Savings versus the competition.

    Name Product Annual percentage yield (APY) Fee Minimum deposit to open
    Aspiration Spend & Save Account
    Finder Rating: 4.2 / 5: ★★★★★
    Aspiration Spend & Save Account
    $0 per month or $7.99 per month for Aspiration Plus ($5.99 per month if you pay annually)
    Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC and a $100 bonus when you spend $1,000 in your first 60 days.
    Quontic Bank High Yield Savings
    Finder Rating: 4.6 / 5: ★★★★★
    Quontic Bank High Yield Savings
    Interest is compounded daily. No monthly service fees. Competitive rates
    Axos Bank High Yield Savings
    Finder Rating: 4 / 5: ★★★★★
    Axos Bank High Yield Savings
    No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
    American Express® High Yield Savings
    Finder Rating: 4.6 / 5: ★★★★★
    American Express® High Yield Savings
    Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
    Gemini Earn
    Gemini Earn
    Up to 8.05%
    Watch your cryptocurrency earn up to 8.05% APY with this nationwide account. Not FDIC insured.

    Compare up to 4 providers

    How do I deposit or withdraw my money?

    There are several ways to access money in your Citi Accelerate Savings account.


    • Online, phone or wire transfer
    • Mobile check deposit
    • Direct deposit
    • By mail


    • Online, phone or wire transfer
    • Request a check

    Citi Accelerate Savings reviews and complaints

    Despite the fact that Citi is one of the four largest banks in the US, it doesn’t have many reviews or complaints online. It has only 17 customer reviews on TrustPilot for a total 1.8 out of 5-star rating.

    You’ll find the most reviews on Reddit where vocal users say they’ve had issues with opening and funding the account, along with app issues that exclude this account from their general banking info. Other users say customer service can be difficult to get ahold of.

    How can I get in touch with customer service?

    Get help with your account in three ways:

    • Live chat. Log in to your account to chat live with a representative.
    • Phone. Call 800-374-9700.
    • Mail. Send a letter to

    Citi Inquiries
    PO Box 6500
    Sioux Falls, SD 5711

    Frequently asked questions

    Savings account ratings

    ★★★★★ — Excellent

    ★★★★★ — Good

    ★★★★★ — Average

    ★★★★★ — Subpar

    ★★★★★ — Poor

    We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

    Read the full methodology of how we rate savings accounts.

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