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Earn 2.21% APY on your balance, but only in select states.
Citi now offers an online savings account with a competitive APY. 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.
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.
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.
Citigold. Gilded support with interest checking, a dedicated relationship manager and the strongest investment capabilities.
What are the benefits of the Citi Accelerate Savings account?
You have the ability to somewhat customize your benefits depending on the banking package you choose. This FDIC-insured, high-yield savings account offers a suite of benefits:
Competitive interest rate. In select areas, you can earn an APY as high as 2.21% — 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:
Customer complaints. Vocal Redditors say they’ve had issues with opening and funding the account, along with app issues that exclude this account from their general banking info.
Withdrawal limits. There’s a daily withdrawal limit of $2,000 and a monthly limit of $10,000.
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 with other savings accounts
How do I apply?
Visit the Citi website and navigate to Savings from the Banking tab.
Scroll to Accelerate Savings and click See Details.
Scroll to the banking packages and click Apply Now below your desired option.
Enter your personal information and click Next.
Continue through the steps of verifying your details, entering your income information and funding your account. Then Submit your application.
Gather personal and financial details that include:
Name and contact information
Date of birth
Employment and income information
How do I deposit or withdraw my money?
Access depends on whether you’re depositing or withdrawing from your account.
Online, phone or wire transfer
Mobile check deposit
Online, phone or wire transfer
Request a check
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
The Citibank Accelerate Savings account offers a competitive APY at one of the Big Four banks. Depending on the Citi package you choose at signup, you can earn rewards and get investment help to grow your nest egg.
Yes. Its Citi Savings is a no-frills savings account that has low fees but with low interest rates to match them.
Call Citi’s customer service to begin the account closure process.
No. The Citi Priority and Citigold options both include checking accounts, but the Access Account, Basic Banking and Citibank Account packages only come with a standalone savings account.
Yes. Citi will do a soft pull when you apply for this account.
No. This account is only available online.
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