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Citibank current accounts for June 2023

Citibank offers multiple accounts in different currencies with one debit card as well as worldwide travel insurance.

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By

Oli Collins

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You can also gain access to an internal team of product experts via a dedicated relationship manager and a range of other benefits with the Citigold current account. However, you’ll need to pay a monthly fee of £75 if your average monthly balance across your Citi accounts is less than £150,000.

Compare Citibank current accounts

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Name Product Ratings Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Citigold Current Account
Citigold Current
Not yet rated
£75 per month
(waived in first 3 months)
No minimum funding requirement
0% AER
£0 per charging period
Complimentary breakfast with selected hotels.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged an arranged overdraft usage fee of £0 per charging period. Account fee of £75 per month (Fee waived for first 90 days if customer has not held a current account with Citibank previously. Fee waived if customer has an average monthly balance of £150000 (or currency equivalent) or more across current and savings account with Citibank UK Limited)..
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Types of current account from Citibank

  • Citigold account

    Citibank’s sole current account is the Citigold account. Eye-catching features of this account include transaction-fee-free Citi global transfers and up to 8 fee-free SWIFT payments each month, a dedicated relationship manager and Citi Alerts for account updates by SMS or email.

  • Multi-currency accounts

    Citi also offers current accounts for 10 major foreign currencies, enabling you to make purchases and withdrawals without incurring conversion charges. Transaction fees also do not apply. Like the Citigold account, these current accounts offer 24/7 worldwide account access and the ability to access all your account with just one Citi card. This account is free of charge if you’re a Citigold account holder, or alternatively if your foreign currency account on average holds a monthly balance of the equivalent of £2,000 or more.

Pros and cons of banking with Citibank

  • Perks. Perks of banking with Citibank include worldwide holiday travel insurance and access to a dedicated relationship manager as well as exclusive privileges from prestigious brands through the Partnership Programme.
  • Multiple ways to bank. Citibank offer a range of ways to handle your funds, including the Citi Mobile app, Citi online and the CitiPhone app.
  • Global acceptance. Citibank’s big perk is their global view. Any overseas Citi account can be securely accessed instantly from anywhere in the world.
  • High account fees. You’ll need to pay a monthly fee of £75 if your average monthly balance across your Citi accounts is less than £150,000. This means it’s mainly those on higher incomes who will benefit from holding this type of current account.

Opening an account with Citibank

If the Citigold account piques your fancy, here’s how to open a current account with Citibank. To begin, book your appointment through the Citibank website. You’ll then be contacted within one working day to discuss the opening of the account. After this, you’ll meet a relationship manager, provide the information needed to open the account and sign the application form. All of this should be completed within two days.

Our verdict: Is a current account with Citibank worth it?

There are a lot of useful features with this account, but the huge account fee will surely put off people with an average balance less than £150,000. If Citibank’s current accounts are not for you, you can also compare other current accounts here.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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