Open a Citi Accelerate Savings account in six steps:
- Go to the provider’s site and follow the steps to apply.
- Navigate to Savings from the Banking tab.
- Scroll to Accelerate Savings and select See Details.
- Scroll to the banking packages and select Apply Now below your desired option.
- Enter your personal information and select Next.
- Continue through the steps of verifying your details, entering your income information and funding your account. Then Submit your application.
Eligibility
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
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.
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
| 4.35% | Unlimited check-writing privileges |
Citibank Account Package | $25 | - At least 1 electronic direct deposit or 1 qualifying bill pay; or
| 4.35% | - 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
| 4.35% | - 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
| 4.35% | - Dedicated team, including a Citi Gold Relationship Manager
- Guidance from a Citi Wealth Financial
- Investment resources and market insight
- Preferred pricing and rates
|
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.
Availability
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.
Enter your deposit amount into the table to see how much interest you could earn with Citi Accelerate Savings versus the competition.
There are several ways to access money in your Citi Accelerate Savings account.
Deposits
- Online, phone or wire transfer
- Mobile check deposit
- Direct deposit
- By mail
Withdrawals
- Online, phone or wire transfer
- Request a check
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.
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.