Citibank Review 2024

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The information for the following product(s) has been collected independently by Business Insider: Citi Strata Premier℠ Card, Costco Anywhere Visa® Business Card by Citi, CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard®. The details for these products have not been reviewed or provided by the issuer.

About Citibank

Citi is a national bank with over 650 branches sprinkled around the US, including California, Connecticut, Florida, Illinois, Maryland, Nevada, New Jersey, New York, South Dakota, Virginia, and Washington, DC. You’ll also have access to over 65,000 fee-free ATMs nationwide, plus free ATMs all over the world.

Some of Citi’s accounts depend on where you live. For example, the high-yield Citi® Accelerate Savings is only available for residents of certain states.

Citi also has a new system called Relationship Tiers. If you maintain a certain account balance, you’ll be eligible for Citi Priority, Citigold® Checking Account, or Citigold® Private Client Checking Account, which have more benefits and services. For example, these accounts do not have ATM fees, money order fees, or official check fees.

Citi’s customer service is available 24/7 over the phone, and you can chat online from 6 a.m. to 10 p.m. ET. The bank also has an easy-to-use mobile app, which has 4.9 out of 5 stars in the Apple store and 4.8 stars in the Google Play store.

Your Citi accounts are FDIC insured for up to $250,000, or $500,000 for joint accounts.

Is Citi Trustworthy?

The Better Business Bureau gives Citi an F rating because it’s received a high volume of customer complaints on the BBB website and it has failed to respond to many customer complaints.

In November 2023, the Consumer Financial Protection Bureau claimed Citibank intentionally discriminated against Armenian-American credit card applicants. The CFPB ordered the bank to pay $25.9 million in fees and to applicants who were impacted.

Citi Overall Rating

Citi Pros and Cons

Citi Personal Bank Accounts

Citi Access Checking

Citi Access Checking

Citi Citi Access Checking

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn $300 cash bonus by opening an eligible checking account with qualifying direct deposit and completing required activities (offer ends 7/8/24)


Fees

$5 monthly service fee


Annual Percentage Yield (APY)

None


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
Cons

  • con icon Two crossed lines that form an ‘X’. No paper checks
  • con icon Two crossed lines that form an ‘X’. $2.50 fee for using out-of-network ATMs
  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Product Details

  • Earn $300 cash bonus by opening an eligible checking account with qualifying direct deposit and completing required activities (offer ends 7/8/24)
  • The most basic Citi checking account
  • Access to over 650 branches in the US
  • No minimum opening deposit
  • FDIC insured

Citi Regular Checking

Citi Regular Checking

Citi Citi Regular Checking

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.75/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn $300 cash bonus by opening an eligible checking account with qualifying direct deposit and completing required activities (offer ends 7/8/24)


Fees

$15 monthly service fee


Annual Percentage Yield (APY)

See Website for Details


Minimum Opening Deposit

None

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit
Cons

  • con icon Two crossed lines that form an ‘X’. $2.50 out-of-network ATM fee
  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Product Details

  • Earn $300 cash bonus by opening an eligible checking account with qualifying direct deposit and completing required activities (offer ends 7/8/24)
  • Over 650 branches

Citi Priority

Citi Priority

Citi Citi Priority

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.5/5


Fees

See website for details


Annual Percentage Yield (APY)

None


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No out-of-network ATM fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to Citi expert advisers
Cons

  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Insider’s Take

Citi® could be a good option if you live in one of the 42 states that offers Citi® Accelerate Savings because it pays a high interest rate. Citi® is also notably featured in our guides for best low credit score mortgage lenders and best credit cards.


Product Details

  • No Citi fees at non-Citi ATMs
  • 0.00% Annual Percentage Yield

Citigold® Checking Account

Citigold® Checking Account

Citi Citigold® Checking Account

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.25/5


Fees

See website for details


Annual Percentage Yield (APY)

None


Minimum Opening Deposit

$200,000

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Refunds any fees charged by out-of-network ATMs
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to wealth management team
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. You may qualify for up to $200/year in membership and subscription rebates
Cons

  • con icon Two crossed lines that form an ‘X’. You must have $200,000 combined in Citi bank accounts, and linked retirement/investment accounts to be a Citigold member
  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Insider’s Take

Citi® could be a good option if you live in one of the 42 states that offers Citi® Accelerate Savings because it pays a high interest rate. Citi® is also notably featured in our guides for best low credit score mortgage lenders and best credit cards.


Product Details

  • No Citi fees at non-Citi ATMs
  • 0.00% Annual Percentage Yield
  • Within 20 days of opening, deposit $200,000 new-to-Citibank funds
  • Maintain a minimum balance of $200,000 for 60 consecutive calendar days

Citigold® Private Client Checking Account

Citigold® Private Client Checking Account

Citibank Citigold® Private Client Checking Account

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.25/5


Annual Percentage Yield (APY)

NA


Minimum Opening Deposit

$1,000,000

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. NA
Cons

  • con icon Two crossed lines that form an ‘X’. NA


Product Details

  • Total branches: over 650 locations in California, Connecticut, Florida, Illinois, Maryland, Nevada, New Jersey, New York, South Dakota, Virginia, and Washington, DC.
  • 65,000+ surcharge-free ATMs

Citi offers two standard checking accounts: Citi Access Checking and Citi Regular Checking. 

If you’d like to get a premium checking account, the bank also offers relationship tiers: Citi Priority, Citigold® Checking Account, and the Citigold® Private Client Checking Account.

To qualify for relationship tiers, you’ll need to maintain a high combined average monthly balance across linked bank accounts, retirement accounts, and investment accounts: $30,000 to $199,999.99 for City Priority, $200,00 to $999,999.99 for Citigold, or $1 million or more Citigold Private Client.

Citi® Accelerate Savings

Citi® Accelerate Savings

Citi® Citi® Accelerate Savings

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.75/5


Fees

$4.50 monthly service fee


Annual Percentage Yield (APY)

4.35% (vary by location)


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. High APY (minimum $0 balance to earn)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit
Cons

  • con icon Two crossed lines that form an ‘X’. You may pay a monthly fee, depending on a variety of factors
  • con icon Two crossed lines that form an ‘X’. Other fees depend on which checking account you link to your savings account
  • con icon Two crossed lines that form an ‘X’. Not available in certain states
  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Product Details

  • Monthly fee depends on whether you link to a Citi checking account, and which checking account you choose
  • You may qualify to have the monthly fee waived, depending on which checking/savings package you have
  • No opening deposit
  • Compounding interest to maximize your savings
  • Not available in CA, CT, MD, NV, NJ, NY, VA, DC, certain parts of FL or IL

See Personal Finance Insider’s Citi Accelerate Savings Account Review.

Citi® Savings

Citi® Savings

Citi® Citi® Savings

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.25/5


Fees

$4.50 monthly service fee


Annual Percentage Yield (APY)

up to 1.31% (vary by location)


Minimum Opening Deposit

None

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Higher APY than many brick-and-mortar banks
Cons

  • con icon Two crossed lines that form an ‘X’. Low APY compared to high-yield savings accounts
  • con icon Two crossed lines that form an ‘X’. $4.50 monthly fee
  • con icon Two crossed lines that form an ‘X’. Only available in certain states
  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Product Details

  • New customers can earn 4.75% promotional interest rate for up to three months (1.24% to 1.31% APY); To be eligible you must open a Citi Savings Account at a branch from April 2, 2024 to July 1, 2024 and deposit at least $25,000 in new money during the first 10 business days; You must maintain the minimum balance amount daily to get up to 3 months of the promotional rate, and once the offer expires your rate will return to the standard rate
  • $4.50 monthly service fee waived during the first 3 months of account opening or with a relationship tier, $500 average monthly balance, or with a Citi checking account
  • No opening deposit
  • Compounding interest to maximize your savings
  • Only available in CA, CT, DC, FL, IL, MD, NJ, NV, NY, SD, VA, and Puerto Rico
  • Access to 650 branches

Citi has two types of accounts: Citi Savings and Citi® Accelerate Savings. 

Citi® Accelerate Savings is a high-yield savings account that pays a competitive rate, and it’s clearly superior to Citi Savings — but you can only open an account if you’re a resident of certain markets. 

Read Personal Finance Insider’s Citi Savings Rates Review.

Citi Fixed Rate CD

Citi Fixed Rate CD

Citi Citi Fixed Rate CD

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.5/5


Annual Percentage Yield (APY)

0.05% to 5.25%


Minimum Opening Deposit

$500 ($100,000 for the top rate)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Range of CD terms
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Relatively low early withdrawal penalties
Cons

  • con icon Two crossed lines that form an ‘X’. Rates vary depending on term
  • con icon Two crossed lines that form an ‘X’. $500 to $2,500 opening deposit, depending on your state of residence
  • con icon Two crossed lines that form an ‘X’. Must visit a branch to deposit more than $10,000
  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Insider’s Take

Citi might be a decent option for a traditional 9-month, 1-year, or 15-month term. It also offers a good no-penalty CD rate. That said, Citi CD rates are overall low compared to the best online banks and credit unions.


Product Details

  • Terms ranging from 3 months to 5 years
  • Early withdrawal penalties ranging from 90 to 180 days interest
  • Earn 1.10% APY on a 6-month CD; Earn 5.25% APY on a 7-month CD; Earn 4.00% APY on a 9-month; Earn 3.00% to 4.00% APY on a 12-month CD; Earn 2.50% APY on a 15-month CD
  • Earn 0.05% APY on other CD terms between 3 months and 11 months; Earn 0.10% APY on the 13 months, 14 months, and 30 months; Earn 2.50% APY on other CD terms between 18 month and 5 years
  • $500 opening deposit ($100,000 for the top rate on the 11-month CD)

Citi No Penalty CD

Citi No Penalty CD

Citi Citi No Penalty CD

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.75/5


Annual Percentage Yield (APY)

0.05%


Minimum Opening Deposit

$500

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $500 minimum opening deposit
Cons

  • con icon Two crossed lines that form an ‘X’. Only term option is 12 months
  • con icon Two crossed lines that form an ‘X’. BBB gives Citi an F in trustworthiness


Insider’s Take

Citi might be a decent option for a traditional 9-month, 1-year, or 15-month term. It also offers a good no-penalty CD rate. That said, Citi CD rates are overall low compared to the best online banks and credit unions.


Product Details

  • Over 650 branches
  • May open a 12-month CD term online
  • May withdraw your full balance and interest at any time 6 days after opening an account
  • Interest compounded daily, deposited monthly
  • FDIC insured

Citi Step Up CD

Citi Step Up CD

Citi Citi Step Up CD

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.25/5


Annual Percentage Yield (APY)

0.05% to 0.15%


Minimum Opening Deposit

$500

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Get a rate increase every 10 months
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Standard early withdrawal penalties
Cons

  • con icon Two crossed lines that form an ‘X’. Low interest rate


Insider’s Take

Citi might be a decent option for a traditional 9-month, 1-year, or 15-month term. It also offers a good no-penalty CD rate. That said, Citi CD rates are overall low compared to the best online banks and credit unions.


Product Details

  • Earn 0.05% APY during your first 10 months, 0.10% APY for months 11 through 20, and 0.15% APY on months 21 though 30
  • For CD terms of 1 year or greater, the early withdrawal penalty is 180 days of simple interest
  • Interest compounded daily and deposited monthly
  • FDIC insured

Citi offers three types of CDs: Citi Fixed Rate CDs, Citi Step Up CDs, and Citi No Penalty CDs.

While the bank’s abundance of checking and savings account options can be staggering, its CD options are easier to follow. Step Up CDs allow you to earn a higher interest rate at a specified date, while no-penalty CDs do not charge you early withdrawal penalties if you take out money from your account before the term ends.

If you’re searching for a competitive interest rate, a 1-year or 18-month Citi Fixed Rate CD might be worth considering.

See Personal Finance Insider’s Citi CD review.

Citi Personal Credit Cards

Citi has a variety of credit cards, including travel credit cards, balance transfer credit cards, cash-back credit cards, and credit cards with 0% APR.

Our best Citi credit cards guide highlights the best options depending on what you’re looking for. The Citi Strata Premier℠ Card
is our top Citi credit card for 2023. 

Citi Business Credit Cards 

If you have a small business, Citi has two types of credit cards. The Costco Anywhere Visa® Business Card by Citi
is exclusively for Costco customers, while the CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard®
may be worth exploring if you frequently fly with American Airlines.

Citi Personal Loans

Citi Personal Loans may be worthwhile if you already bank with the company. To be eligible for a personal loan at Citi, you must earn a yearly income of $10,500 or more, meet Citi’s creditworthiness criteria,  and have an eligible Citi bank account that has been open for at least 12 months. 

See Personal Finance Insider’s Citi Personal Loans Review. 

Citi Mortgages

Citi offers several types of home loans, including conforming, jumbo, FHA, VA and HomeRun mortgages. The HomeRun mortgage could be a good choice if you’re looking for an affordable mortgage option. Through the HomeRun mortgage program, customers may make a down payment as low as 3% with no mortgage insurance requirement.

See Personal Finance Insider’s Citi Mortgage Review.

Citi FAQs

Citi has a variety of home loans and credit cards. It also may be a good option if you’d like to open an online high-yield savings account with a national brand. Citi® Accelerate Savings pays more than the average savings account. That said, it’s only available in certain markets.

Yes, Citi bank accounts are FDIC-insured for up to $250,000 per depositor.

Savings and checking accounts do not require a minimum opening deposit. If you’d like to open a certificate of deposit, you’ll need at least $500.

How Citi Compares

We’ve compared Citi to three other national banks: Bank of America, Chase, and Wells Fargo.

Citi vs. Bank of America

Bank of America is a good choice if you want a larger branch network, because it has locations in 37 U.S. states and Washington, DC. You also might prefer Bank of America for a simpler banking experience, since Citi’s package system can be confusing.

But Citi has a much larger free ATM network, including ATMs in other countries.

You’ll probably prefer Citi if you’re eligible to open the Citi® Accelerate Savings account, because you’ll earn a much higher savings rate than you could with Bank of America savings accounts. As for CDs, the best CD rate between the two banks will depend on which term you choose.

Bank of America Review

Citi vs. Chase

Chase is another great option if you want a large branch network within the U.S. It has branches in every state except Alaska and Hawaii.

Chase and Citi are both known for offering several checking accounts. The best fit could come down to what you want out of a checking account and whether you can waive the monthly fee on your preferred account.

For example, if you just want a simple checking account, you might prefer Citi Access Checking over Chase Total Checking®. Both offer strong sign-up bonuses to eligible cusotmers, but Citi’s account has a lower monthly fee that is automatically waived for the first three months.

Chase Bank Review

Citi vs. Wells Fargo

Again, you may prefer Wells Fargo if you want a larger branch network throughout the United States. It operates in 36 states and Washington, DC. But keep in mind that Citi has more free ATMs, both in the U.S. and abroad.

The best CD rate could come down to which term length you’re looking for. Wells Fargo CD rates are decent, but the bank only offers terms up to one year. Meanwhile, Citi has CD terms up to 10 years.

Wells Fargo Bank Review

Why You Should Trust Us: How We Reviewed Citi

For our Citi review, we rate bank products and services using our editorial standards.

At Personal Finance Insider, we rate products on a scale from zero to five stars. For bank accounts, we review different features for distinct types of bank accounts. For example, we’ll look at early withdrawal penalties and CD variety specifically for CDs. Meanwhile, for checking accounts, we’ll factor in the ATM network size and fees, as well as its overdraft protection options.

We’ll consider factors like annual fees and sign-up bonuses for credit cards, and term lengths for loans. In general, we also look at customer service and ethics.

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