In this guide

  • Review
  • Details
    • Features
  • Your reviews
  • Ask an expert
Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

CitiBusiness Checking account review

  • Avatar
CitiBusiness Checking
2.7
★★★★★
Finder score

CitiBusiness Checking isn't available on Finder right now.

Fee
From $15 per month
APY
N/A
Minimum deposit to open
$1

Earn account credits to offset transaction fees, but only by maintaining a $5,000 minimum balance.

finder.com's rating: 2.7 / 5.0

★★★★★

Its standout features include free ATM withdrawals, overdraft protection and mobile banking. But multiple account fees may detract from your business capital, and it’s only available in a few select states.

Pros

  • No Citi withdrawal fees
  • No minimum opening deposit
  • Overdraft protection
  • Monthly earnings credit

Cons

  • Maintenance fee
  • Transaction fees
  • Limited availability

In this guide

  • Review
  • Details
    • Features
  • Your reviews
  • Ask an expert

Details

Features

Annual Percentage Yield (APY) N/A
Fee $15 per month
To waive the fee Waive fee by keeping a monthly balance of
- $5,000: Waive CitiBusiness Streamlined Checking Account $15 fee
- $10,000: Waive CitiBusiness Flexible Checking Account $30 fee
- $10,000: Waive CitiBusiness Interest Checking Account $30 fee
PS: CitiBusiness Analyzed Checking Account $24 fee cannot be Waived
Minimum deposit to open $1
ATMs Access to over 60,000 ATMs1 with no surcharge fee
ATM transaction fee $0

How do I open a CitiBusiness Checking account?

To open a CitiBusiness Checking account, you’ll need to visit a branch in person to fill out an application. Unlike other accounts offered by Citi, you can’t open this account online or over the phone.

Eligibility

You must meet the following criteria to be eligible for this account:

  • US citizen
  • At least 18 years old
  • Social Security number or tax identification number
  • Valid driver’s license or state ID
  • Valid bank account
  • Resident of California, Connecticut, District of Columbia, Florida, Illinois, Maryland, New Jersey, Nevada, New York or Virginia

Required information

Bring the following information with you when you apply at a local branch:

  • Name and date of birth
  • Business address and details
  • Social Security or tax ID number
  • Two forms of government-issued photo ID
  • Business registration certificate

What are the benefits of a checking account with Citi?

Receive a CitiBusiness debit card and remote check deposit along with the following:

  • No Citi withdrawal fees. Withdraw funds for free at any of Citi‘s 70,000 ATMs across the US.
  • No minimum opening deposit. Open an account with any amount.
  • Overdraft protection. Automatically transfer funds from a linked CitiBusiness savings or money market account for added overdraft protection.
  • Monthly earnings credit. Maintain a balance of $5,000 or more and earn credits to offset monthly service fees. The fees vary by state according to a Citi representative we spoke with.

Citi‘s ATM network and fees

The CitiBusiness Checking account comes with a CitiBusiness debit card, which provides access to Citi‘s vast ATM network.

Citi advertises that it has the largest fee-free ATM network by any major bank in the US. Its network includes over 70,000 ATMs nationwide, including those found in Costco, CVS Pharmacy, Target and Walgreens.

While there’s no fee for making a withdrawal at a Citi ATM, expect a third-party surcharge when you use a non-Citi machine.

What should I look out for?

This business checking account has a few drawbacks to take note of:

  • Maintenance fee. While monthly earnings credits may potentially help offset the cost, expect a $15 monthly maintenance fee.
  • Transaction fees. Unlike other Citi business checking accounts, there are no free transactions included with the CitiBusiness Checking account. Fees vary by state and account according to a Citi representative.
  • Limited availability. The CitiBusiness Checking account is limited to residents of California, Connecticut, District of Columbia, Florida, Illinois, Maryland, New Jersey, Nevada, New York and Virginia.

Compare with other business checking accounts

1 - 13 of 13
Name Product Fee Annual Percentage Yield (APY) FDIC Insured Amount Software Integrations Account management Bank transfer fee Offer
Novo Business
Finder Rating: 4.4 / 5: ★★★★★
Novo Business
$0 per month
N/A
Up to $250,000
15+ integrations: Square, Etsy, Shopify, etc
Online, App, Phone
$0
Relay
Finder Rating: 4.3 / 5: ★★★★★
Relay
$0 per month
Up to 3.00% on balances of $1,000,000+
2.00% on balances of $250,000 to $999,999
1.50% on balances of $50,000 to $249,999
Up to $2.5 million
QuickBooks Online, Xero, Gusto, Plaid, and Yodlee
Online, App, Phone
$0
Bluevine Business Checking
Finder Rating: 4.6 / 5: ★★★★★
Bluevine Business Checking
$0 per month
2.00% on balances of $0 to $250,000
Up to $3 million
Cash App, Expensify, Quickbooks, Square, Wave, Wise, Venmo, and Xero
Online, App, Phone
$0
Mercury
Finder Rating: 4.5 / 5: ★★★★★
Mercury
$0 per month
N/A
Up to $5 million
QuickBooks, Stripe, Xero, etc
Online, App, Phone
$0
NBKC Business Checking
Finder Rating: 4.5 / 5: ★★★★★
NBKC Business Checking
$0 per month
N/A
Up to $250,000
N/A
Branch, Online, App, Phone
$0
Lili
Finder Rating: 4.6 / 5: ★★★★★
Bonus
Lili
From $0 per month
4.15%
Up to $250,000
Quickbooks,Cash App, Stripe, Venmo, Xero, FreshBooks, Etsy, and Shopify
Online, App, Phone
$0
30 day free trial for Lili Pro, Lili Smart, and Lili Premium
Grasshopper Business Checking
Finder Rating: 4.6 / 5: ★★★★★
Grasshopper Business Checking
$0 per month
2.25% on balances of $25,000 to $250,000
1.51% on balances of $0.01 to $25,000
1.51% on balances of $250,000+
Up to $250,000
Plaid, Quickbooks
Online, App, Phone
$0
Chase Business Complete Banking®
Finder Rating: 2.8 / 5: ★★★★★
Bonus
Chase Business Complete Banking®
$15 per month
N/A
Up to $250,00
N/A
Branch, Online, App, Phone
$0
$300 bonus when you open a new account, deposit $2,000+ of new money in the first 30 days, maintain your balance for 60 days and make 5 qualifying transactions in the first 90 days. For new Chase business checking customers.
Found
Finder Rating: 4 / 5: ★★★★★
Found
From $0 per month
1.50% on balances of $0 to $20,000
Up to $250,000
QuickBooks, Stripe, Cash App, PayPal, Square, etc.
Online, App, Phone
$0
Brex Cash account
Finder Rating: 3.4 / 5: ★★★★★
Brex Cash account
$0 per month
4.47%
Up to $6 million
1,000+ of integrations like Quickbooks and Slack
Online, App, Phone
$0
U.S. Bank Platinum Business Checking Package
Finder Rating: 3.2 / 5: ★★★★★
Bonus
U.S. Bank Platinum Business Checking Package
$30 per month
N/A
Up to $250,00
N/A
Branch, Online, App, Phone
500 free transactions per statement cycle
Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 8, 2024. Member FDIC. Select “Go to site” to see steps to earn the offer.
U.S. Bank Gold Business Checking Package
Finder Rating: 3 / 5: ★★★★★
Bonus
U.S. Bank Gold Business Checking Package
$20 per month
N/A
Up to $250,00
N/A
Branch, Online, App
300 free transactions per statement cycle
Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 8, 2024. Member FDIC. Select “Go to site” to see steps to earn the offer.
U.S. Bank Silver Business Checking Package
Finder Rating: 2.8 / 5: ★★★★★
Bonus
U.S. Bank Silver Business Checking Package
$0 per month
N/A
Up to $250,00
N/A
Branch, Online, App, Phone
125 free transactions per statement cycle
Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 8, 2024. Member FDIC. Select “Go to site” to see steps to earn the offer.
loading

How do I deposit or withdraw my money?

There are plenty of ways to manage the funds of your business:

  • Online. Transfer funds to or from an externally linked account.
  • Mobile check deposit. Deposit a check using the CitiBusiness Mobile app.
  • ATM. Withdraw funds for free at any of Citi‘s 70,000 nationwide ATMs.
  • Wire transfer. All incoming wire transfers cost $15, while outgoing domestic and international transfers cost $55 and $65, respectively.
  • In person. Visit a branch to conduct a transaction in person.

What other checking options does Citi offer?

Citi‘s suite of accounts includes several other business products. Each account comes with a CitiBusiness debit card, remote check deposit, cash management services and overdraft protection:

  • CitiBusiness Interest Checking account. This interest-bearing business checking account offers 25 free monthly transactions and has a $22 to $30 monthly maintenance fee that varies by state. This fee can be waived by maintaining a minimum monthly balance of $10,000.
  • CitiBusiness Streamlined Checking account. A basic business account designed for startups and small businesses that comes with 250 free monthly transactions. The $15 maintenance fee can be waived by maintaining a minimum monthly balance of $5,000.
  • CitiBusiness Flexible Checking account. Geared toward growing businesses, this checking account offers 500 free monthly transactions, but requires a $10,000 minimum balance to waive the $22 to $30 monthly maintenance fee.

All information about these products has been collected independently by Finder.

Bottom line

While overdraft protection and earnings credits help offset fees, this account has a number of cost-related drawbacks — including monthly maintenance fees, transaction fees and wire transfer fees.

Compare your options with additional providers to find the business checking account that meets the dynamic needs of your business.

Frequently asked questions

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

Your reviews

No reviews yet. Write a review

Ask an expert

Ask a question
Avatar

Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site