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Citibank Reviews

7.5

Full-service banking facilities

Written by Steve Chen

About Citibank | Read More

LS Score

Credibility

Support

Accessibility

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Opening Hours

Mon-Sun 24/7

Contact Information

(888) 248-4226
Headquarters: 388 Greenwich Street, New York, NY 10013

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LS Score

Credibility

Support

Accessibility

Visit Site

Opening Hours

Mon-Sun 24/7

Contact Information

(888) 248-4226
Headquarters: 388 Greenwich Street, New York, NY 10013

Social Media

Citibank Online Banking Review

Citibank offers its customers many online bank accounts to meet all needs. Checking accounts, savings accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRA) are available, and we will take you through each account option in detail. Note that each checking account has a linked savings account to it.

Citibank Online Banking Highlight

$2K

Min Balance

$500

Min Deposit

Over 65,000 fee-free ATMs

ATM Network

None

Other Fees

Online Banking Savings

$500

Min Deposit

$500

Min Balance

Min 0.12%

Min APY Savings

Online Banking Checking

$500

Min Deposit

$2K

Min Balance

Business Online Banking

$500

Min Deposit

Pros & Cons

Very well respected bank
No minimum required deposits
Wide range of account options

Certain requirements to avoid monthly fees
$2.50 Charge for out-of-network ATMs
Rates aren't as competitive as others

Account types

Checking
Savings
Certificates of Deposit (CD)

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APY's

Account Type	APY
Citi Accelerated Savings	3.10%
Citi Savings	0.12%
CDs	0.05% – 4%
Retirement IRA	0.20%– 4.68%

Features Benefits & Rewards

Most extensive ATM network range in America

Account Types

Access Account Package

The Citibank Access Account is the entry package for someone looking to open up a new account with Citibank. You get access to online banking and can waive the $10 monthly fee if you maintain a monthly balance of $1,500. Alternatively, if you make a qualifying direct deposit or bill payment in a calendar month, you can waive the monthly cost.

Basic Banking Package

The Basic Banking Package is a regular checking account that comes with unlimited check writing. As with the Access Account, a $12 monthly fee can be waived through a monthly qualifying deposit, bill payment, or by maintaining a monthly balance of over $1,500.

Citibank Account Package

The Citibank Account Package comes with the features of the Basic package but adds full-service relationship banking alongside no fees for out-of-network ATMs (otherwise charged at $2.50). This account incurs a monthly charge of $25, which is waived if you maintain a balance over $10,000 across your Citibank accounts. This is also the first account that allows you access to Citibank’s rewards program.

Premium Banking

Citibank offers three Premium Banking options to customers with higher cash balances available, all of which have enhanced benefits such as free worldwide ATM fees and reduced foreign exchange fees.

Citi Priority Account comes with priority banking and dedicated support and requires a minimum monthly balance of $30,000
Citigold Account gives customers their own dedicated wealth management experts and relationship manager and requires a monthly minimum balance of $200,000
Citigold Private Client services are reserved for individuals maintaining a monthly balance of over $1 million and provide premier banking services and wealth specialists at your disposal.

Citi Savings/Citi Accelerated Savings

Each Citibank checking account also comes with a Citi Savings account that allows you to earn interest on balances held. Depending on your location, you will either be eligible for a Citi Savings Account or a Citi Accelerated Savings Account.

The Accelerated Savings account offers interest rates of 3.10%, which is significantly higher than the rate provided of 0.12% for the Citi Savings account. Therefore, ensure that you check your eligibility for an Accelerated Savings account before you open an account with Citibank.

CDs

CDs offer customers the opportunity to earn a fixed amount of interest over a set period of time. Citibank CDs require a minimum deposit of $500 and offer rates between 0.05% and 4%. We believe that the 4% 1-year CD offered by Citibank is a very competitive product worthy of note in today’s market, offering one of the best rates available anywhere. However, most of Citibank’s CDs are not competitive outside of this. Note that an early withdrawal of money invested in CDs incurs a financial penalty.

Retirement IRA

The Retirement IRA offered by Citibank allows you to plan your retirement funding. Your options are to invest in an Insured Money Market at an APY of 0.20% or an 18-month variable CD at a massive 4.68%. As with the regular 12-month CD, this is market-leading and is worthy of consideration if you are looking for a retirement IRA.

Account Name	Key Features	Bonuses
Access Account	Access to online banking No fees if conditions met Checks are not available
Basic Account	Unlimited checks No minimum deposit $1,500 balance required to waive fees
Citibank Account	No ATM fees Access to a rewards program $25 monthly fee unless an average balance of $10,000 is held across Citibank accounts
Premium Accounts	Three different VIP accounts for a variety of needs Excellent rewards available Access to personal wealth experts
Citi Savings/Accelerated Savings	Accelerated Savings account has an interest rate of 3.10%, Savings at 0.12% Autosave option available to transfer funds Accelerated accounts not available in CA, CT, MD, NV, NJ, NY, VA, DC, and IL
CDs	A minimum deposit of $500 required 12-month CD at 4% Early withdrawal will incur a penalty
Retirement IRA	Outstanding 4.68% return on 18-month CD Tax advantages of holding a retirement IRA Money Market option available at 0.20%

Opening an Account With Citibank

Having reviewed Citibank’s products, we decided we wanted to open a 12-month CD due to the excellent 4% interest rate available. We headed to the CD page and selected the product that we wanted.

Helpfully, the first screen gave us a clear indication of the steps required alongside detailing what we would need to do during the application process.

After making a password to create an account, we entered our address details and citizenship status. This generated the ID verification, after which we moved on to the Employment and Income stage of the application. After entering our employment details, we verified our salary via our bank statement. This process was seamless and took minutes. Finally, we moved on to the exciting part of funding the CD. We had already linked the bank account for income verification purposes, so this was very easy to do.

The last stages were to complete the online account setup and sign the CD agreements and disclosures, and the process was complete. It was one of the more straightforward CD applications we have encountered.

State Availability

- Available in all states

Written by Steve Chen

Steve is an online marketing and publishing veteran with over two decades of experience in the financial sector. With a BSc in Business & Management from the University of Maryland and an MBA in Business Finance from the University of Pittsburgh, Steve went on to serve in various senior marketing and business development roles. Now specializing in online content creation, he writes about a wide range of financial topics.

FAQ’s

What do I need to open a Citibank account?

You’ll need to be a US citizen or permanent resident and have a US address, SSN, and proof of ID.

Where can I get access to a Citibank Accelerate Savings Account?

The Accelerate Savings Account is available in all states except California, Connecticut, Maryland, Nevada, New Jersey, New York, Virginia, Illinois, and Washington DC.

Is Citibank safe?

Yes, Citibank is an established, safe bank and all accounts are FDIC insured for up to $250,000 per depositor.

Customer Support

Citibank has multiple methods available to contact its customer support team. As it is such a large bank, you can call several phone numbers for different departments. As such, it is best for you to go to Citibank’s website to identify the helpline that applies to you instead of ringing the general helpline. Citibank also offers live chat services and email support for existing customers. You can also arrange a meeting in a branch to discuss your needs.

We called the general helpline to enquire about checking account rates. As expected, this was not the optimal solution, as we were placed on hold and transferred more than once. However, they were helpful when we spoke to the correct person and answered all our questions about interest rates and minimum balance requirements.

Privacy & Security

As one of the oldest and most respected financial companies in America, the privacy and security of customer data are of utmost importance to Citibank. There are several pages on its website detailing how your personal data is collected and stored, and the company also highlights your rights to your information and opt-out options.

As expected, Citibank is fully FDIC-insured. The financial institution provides fraud protection services, proactive identity theft countermeasures, and the best-practice cyber security tools.

In Conclusion

Citibank could be an excellent fit for you if you want a full-service bank with a rock-solid reputation and physical branches across the country. Savings rates vary significantly based upon location in the US, so ensure that you are eligible for the higher rate products before opening any account. There are also requirements you’ll need to meet to waive monthly fees for checking accounts, but if you believe you’ll meet these, Citibank is a strong consideration for your banking needs.

Brand Disclaimer

Citibank.com provides information about and access to accounts and financial services provided by Citibank, NA, and its affiliates in the United States and its territories. It does not, and should not be construed as an offer, invitation, or solicitation of services to individuals outside the United States.
Terms, conditions, and fees for accounts, products, programs, and services are subject to change. Not all accounts, products, services, and pricing described here are available in all jurisdictions or to all customers. Your eligibility for a particular product and service is subject to a final determination by Citibank.
Your country of citizenship, domicile, or residence, if other than the United States, may have laws, rules, and regulations that govern or affect your application for and use of our accounts, products, and services. These include laws and regulations regarding taxes, exchange, and capital controls that you are responsible for following.
The products, account packages, promotional offers, and services described in this website may not apply to International Personal Bank US customers in the Citigold® Private Client International, Citigold® International, Citi International Personal, Citi Global Executive Preferred, and Citi Global Executive Account Packages. Citibank HYSA is allowed in all states EXCEPT: CA, CT, MD, NV, NJ, NY, VA, DC, and IL.