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Citi Accelerate Savings account review

Earn 3.4% 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 you don’t qualify for the fee waiver, and it’s not available in every state or ZIP code.

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$4.50 per month



Minimum deposit to open


Annual percentage yield (APY)3.40% on balances of $0+ by opening a Citi Accelerate Savings account in the Access Account package
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 Citi Accelerate Savings account is best for those who don’t live near a Citi branch and want to take advantage of a high-yield savings account. It offers a competitive 3.4% APY that’s higher than most competing accounts. But it’s a far cry from a straightforward savings account. Signing up for a Citi Accelerate Savings account means you must also enroll in a Citi banking package, which comes with its own perks and drawbacks, including a potential monthly fee and the opportunity to earn rewards.

If you don’t qualify for this account or it’s not available in your area, the Citi Savings account may be your next best option. The APY tops out at a meager 0.12%, 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 steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. Navigate to Savings from the Banking tab.
  3. Scroll to Accelerate Savings and select See Details.
  4. Scroll to the banking packages and select Apply Now below your desired option.
  5. Enter your personal information and select 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 Accelerate Savings account

When you open an account, you’ll choose from one of five Citi banking packages with varying monthly fees, waiver conditions, linked accounts and perks by state. All packages must have a linked Citi checking account to maintain balances and avoid the monthly fee.

PackageMonthly feeHow to avoid feeAPYFeatures
Basic Banking Package$12
  • At least 1 electronic direct deposit or 1 qualifying bill pay; or
  • Keep at least a combined balance of $1,500 across linked accounts every month
3.4%Unlimited check-writing privileges
Citibank Account Package$25
  • At least 1 electronic direct deposit or 1 qualifying bill pay; or
  • No out-of-network ATM fee
  • Relationship pricing on some deposit products and services
Citi Priority Account Package$30
  • Keep at least $30,000 total across eligible linked accounts every month
  • Guidance from a Citi Wealth Financial Adviser
  • Investment resources
  • Preferred pricing and rates
Citigold Account Package$0, but to open you must keep at least $200,000 total across eligible linked accounts every month
  • At least 1 electronic direct deposit or 1 qualifying bill pay; or
  • Dedicated team, including a Citi Gold Relationship Manager
  • Guidance from a Citi Wealth Financial
  • Investment resources and market insight
  • Preferred pricing and rates

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. You’ll pay a $10 monthly fee when you link a checking account to your Citi Accelerate Savings account. To waive this fee, you’ll need a monthly qualifying direct deposit, a monthly qualifying bill pay or maintain a monthly balance of at least $1,500 between all your Citi accounts. If you don’t link a Citi checking account, your monthly fee drops to $4.50. Maintain a balance of at least $500 to avoid this service fee.
  • Requires a banking package. Opening this savings account requires simulanteously opening a Citi banking package, which comes with its own set of fees, perks and account stipulations.
  • 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) Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
    CIT Savings Connect
    Finder Rating: 5 / 5: ★★★★★
    CIT Savings Connect


    Secure a 4.05% APY, 16x the national average. Pay $0 in monthly fees and no account opening fee.
    Barclays Online Savings
    Finder Rating: 4.6 / 5: ★★★★★
    Barclays Online Savings


    Earn 3.4% APY, 5X higher than the national average with no minimum balance requirements. Get unlimited transactions and tools that help you save. Pay $0 monthly fees.
    Bread CD
    Finder Rating: 3.8 / 5: ★★★★★
    Bread CD


    Earn an impressive 4.5% APY with this FDIC insured CD. Available in 1-, 2-, 3-, 4- and 5-year terms. No monthly fees and no hidden fees.
    American Express® High Yield Savings Account
    Finder Rating: 4.6 / 5: ★★★★★
    American Express® High Yield Savings Account


    Earn a referral bonus, No matter which card your friend gets.
    Your friend can receive a welcome offer after they apply through the referral link and are approved and get their new card.
    Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
    UFB Best Savings
    Finder Rating: 5 / 5: ★★★★★
    UFB Best Savings


    Score an impressive 4.21% APY, and pay $0 in monthly fees. No minimum deposit requirement.

    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. As of June 2022, it has only 51 customer reviews on Trustpilot for a total 1.4 out of 5-star rating. The Better Business Bureau gives Citi an F rating for failing to respond to over 6,000 complaints in the last three years.

    On Reddit, users say they’ve had issues with opening and funding the account, along with app issues. 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 four ways:

    • Live chat. Log in to your account to chat live with a representative.
    • Phone. Call 800-374-9700.
    • Branch. Visit one of Citi‘s brick-and-mortar locations.
    • Mail. Send a letter to:Citi Inquiries
      PO Box 6500
      Sioux Falls, SD 5711

    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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