Citi Accelerate Savings account review

Who is the Citi Accelerate savings account best for?

If you want a competitive high-yield savings account and are comfortable with opening a Citi banking package, the Citi Accelerate savings account is a great pick for you. By having a banking package, you can avoid the fees and reap the rewards of the higher interest yieldings.

Citi is a solid choice if you prefer to do all your banking in one place and join the relationship program. There are three tiers: Citibank Account Package, Citi Priority and Citigold packages. Each offers extra rewards.

If you’re in the Citi Relationship Tier, you can get the $4.50 monthly fee waived for the first three months after opening, or you can hold a $500 monthly average balance to waive the fee.

What we like about the Citi Accelerate savings account

There’s a lot to love about the Citi Accelerate savings account, namely its competitive rate of 4.35% APY (rate varies by location), which is much higher than traditional savings accounts. There is also no initial deposit requirement to open the account.

And naturally, you’ll have FDIC Insurance of Up to $250,000 per depositor on the Accelerate savings account.

Large and trusted bank

Citibank is considered one of the Big Four banks in the United States. Because it is a big bank, it is also a leader in its banking products, including its robust and innovative online platform.

The online platform allows for seamless integration with your other Citi checking accounts for quick transfers. Online, you will also find features like Auto Save, which allow you to set up recurring transfers.

Vast ATM network and global presence

Since you will need a banking package to waive fees on the Accelerate savings account, you will find convenience in the fact that Citi offers broad access to over 65,000 ATMs through the Allpoint and MoneyPass networks.

There are over 600 branches in the US. Citi also has a massive global presence in over 90 countries, a notable perk for frequent travelers.

Where it falls short

Amongst the biggest drawbacks is that you must have a banking package (like the Access account package) to waive the $4.50 monthly fee. These packages may come with their own perks, like the opportunity to earn rewards, but may also have their own pitfalls, like the fact that it isn’t free. If you don’t qualify for the Accelerate savings product, Citi’s regular savings account only pays 0.03% APY at the bottom tier.

Aside from the banking package, you could maintain a balance of $500 to avoid the Accelerate fee, which means this account isn’t technically free. Citi also offers relationship tiers that can cater to the fees and your earning potential, making it a bit confusing for those who prefer simple banking solutions.

Additionally, while there’s no “balance” or opening deposit requirement, accounts with a zero balance for ninety days are subject to closure.

Limited availability

The Accelerate savings account is also limited to certain markets or areas. It is currently unavailable in California, Connecticut, Florida, Illinois, Maryland, Nevada, New Jersey, New York and Virginia.

Compare Citi Accelerate Savings to other top savings accounts

Narrow down top savings accounts by APYs, fees and features. Select Compare on up to four accounts for a side-by-side comparison.

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Product	Finder Score	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn interest	Minimum deposit to open	Bonus offer	Estimated total balance
Promoted Uphold USD Interest Account	Finder score 8.8 Great	Savings app	Up to 4.40%	Up to $2.5 million	$1	$0		$1,044	Go to siteView details Compare	loading Fetching your data...
Promoted SoFi Checking and Savings	Finder score 9.2 Excellent	Traditional savings,Checking	Up to 3.80%	Up to $250,000	$0	$0	Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.	$1,038	Go to siteView details Compare	loading Fetching your data...
Promoted American Express® High Yield Savings Account	Finder score 9.8 Excellent	Traditional savings	3.70%	Up to $250,000	$0	$0		$1,037	Go to siteView details Compare	loading Fetching your data...
Live Oak Personal Savings	Finder score 9.7 Excellent	Traditional savings	4.20%	Up to $250,000	$0.01	$0		$1,042	Go to siteView details Compare	loading Fetching your data...
Wealthfront Cash Account	Finder score 9.4 Excellent	Cash management account	4.00%	Up to $8M FDIC insurance	$1	$1		$1,040	Go to siteView details Compare	loading Fetching your data...
Barclays Tiered Savings	Finder score 8.4 Great	Traditional savings	Up to 4.10%	Up to $250,000	$0	$0		$1,041	Go to siteView details Compare	loading Fetching your data...

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How to open the Citi Accelerate savings

To open an account, you will have to do it either online or by phone.

For the online route:

Go to Citi’s site and follow the steps to apply.

1. Navigate to Savings from the Banking tab.
2. Scroll to Accelerate Savings and select Open an Account.
3. Enter your personal information and select Next.
4. Continue through the steps of verifying your details, entering your income information, and funding your account. Then, submit your application.

Customer reviews and ratings

Citi has a couple of different unclaimed profiles on Trustpilot, but the one with the most reviews is for “Citibank” with an abysmal 1.1 out of 5 stars with 764 total reviews. The primary complaint is about customer service and response times.