Citibank, a global financial services company, serves over 100 million customers in 98 different countries. Citibank was established in New York City in 1812, and it grew to more than $74 Billion in revenue in 2019. The bank offers several account packages to suit your needs. There are thousands of branches and ATMs where you can access your account. You don’t need to deposit a minimum amount to open savings or checking accounts. Citibank accounts work best for those who can meet the activity or balance requirements. Customers who have combined balances can get discounts and waive fees.
- No minimum deposit checking and savings accounts– Citibank offers six savings and checking account packages and an online savings account. These accounts do not require any minimum deposit.
- World’s largest credit card issuer. Citibank offers many credit cards to its customers as the largest credit card issuer globally. You can earn airline miles and cashback, travel rewards, or bank ThankYou points by purchasing credit cards.
- More Than 60,000 ATMs in the U.S. – Customers should be able to find an ATM near them to avoid paying fees.
- No monthly fees for checking accounts – Most banks offer at minimum one account completely free of any restrictions. All Citibank checking accounts must have a minimum balance or be eligible for qualifying activity to waive the fee. Some customers may find it challenging to meet these requirements.
- You will need a checking account to open savings or money market accounts. These accounts can only be opened with Citibank as a checking plan. Customers who want only savings or money market account cannot open them.
- There may be a $2.50 fee for using an ATM of another bank _ Access checking accounts will not apply. Citibank will charge $2.50 per transaction for you to use any ATM at another bank ‘. Any other bank ATM fees will be reimbursed if you have Citi Elevate and Citigold checking accounts.
For Whom Is Citibank Best?
Citibank is a large bank with more than 2,300 branches in the United States and more than 60,000 ATMs. This allows you to have easy access to your money. Although it may not be the right fit for all customers, especially those who cannot meet the minimum balance requirements for waiver fees, it’s an excellent choice for those who:
- Do you prefer to have access to ATMs and bank branches?
- To avoid monthly fees, ensure that they have enough money in their bank account.
- You want to have access to many credit cards.
- You may want to have multiple checking accounts that suit your lifestyle.
What does Citibank offer?
Citibank, a large financial services company, offers many accounts and services.
Checking your Accounts
Citibank offers five checking account packages, one high-yield package, and two regular checking accounts. Customers can choose according to their specific needs. There is no minimum deposit required to open a checking account. However, if the minimum criteria are not met, every checking account package will charge a monthly service charge.
Monthly service fees for Access Account and Basic Banking packages can be waived by one of three methods:
- Making a qualifying deposit
- Paying a qualifying bill
- Maintaining an average balance of at least $1,500 in eligible linked accounts
These are the checking accounts packages you can choose from:
- Access your Account
- Basic Banking
- Citibank Account
- Citi Priority
- Citi Elevate Account
All five regular checking accounts packages include a savings account. A Citibank checking account package must be opened to open the CitiGold Private Client savings accounts. This savings account cannot be opened without opening a checking or savings account.
To open a savings account, there is no minimum deposit. The account is not subject to a monthly service charge and must be part of a Citibank checking package.
Money Market Account
CitiBusiness Account, a money market account, earns short-term market rate in an account insured under the Federal Deposit Insurance Corporation. Account owners can write checks in all types of checking accounts, except Access Account. Citi Savings Accounts must be included in a Citibank checking package. There is no monthly service fee.
Certificates of Deposit (CDs).
Citibank offers three certificates for the deposit (CD) with unique features. While all CDs require a minimum deposit to open them, some offer higher rates for more significant amounts.
First, a fixed-rate CD has terms that range from 3 months to 5 years. The second option is the Step Up CD, where the rate rises every 10 months. A CD is the last option, and you will get a guaranteed interest rate and can withdraw your balance at any time.
A 90-day early withdrawal penalty applies to CDs less than one year. A fine of 180 days is assessed for CDs that mature in less than one year.
Citibank, the largest credit card issuer globally, has many credit cards available to consumers and small-business owners. These cards can be used to earn airline miles, cashback, travel rewards, and Citibank’s own rewards called ThankYou Points. These are just a few of the Citibank credit cards.
Citi ThankYou Points Cards
- Citi Rewards+ Card
- Citi Custom Cash Card
- Citi Premier Card
- AT&T Access Card from Citi
Cash-Back Credit Cards
- Citi Double Cash Card
- Citi Costco Anywhere Visa card
Get Travel Rewards
- Citi / AAdvantage Platinum Select World Elite Mastercard
- American Airlines AAdvantage Mastercard MileUp
- Citi / AAdvantage Executive World Elite Mastercard
- Citi Expedia Rewards Card
- Citi Expedia Rewards Voyager card
Business Credit Cards
- CitiBusiness / CitiBusiness / The AAdvantage Platinum Select MasterCard
- Citi Costco Anywhere Visa Business card
Other Financial Products offered by Citibank
Citibank offers many other banking products, services, and options.
- Personal Loans & Lines of Credit
- Buy Mortgages
- Refinance mortgages
- Home Equity Loans and Lines of Credit
- Individual Retirement Accounts (IRAs).
- Self-directed trading
- Portfolios of Managed Investments
- Private Banking
- Financial Advisors
- Business loans
Saving money on other products can be possible through your deposit and investment relationship at Citibank. You can save money by agreeing that your Citibank account will automatically draft your mortgage payment. A Citibank account can help you save $500 on closing costs for your mortgage.
Citibank Customer Service
Citi Mobile, CitiPhone, and Citi text banking allow customers to access their accounts. Chat online or visit a branch to speak with someone.
Citi Mobile App allows you to view your account balances, make mobile deposit deposits, locate ATMs and bill payments, as well as find branches and ATMs nearby. You can also pair the mobile app with an Apple Watch if you’re an Apple fan. It is currently ranked No. The app is currently ranked No.
The Twitter account @AskCiti allows you to ask general questions about your account. When tweeting with @AskCiti, it is important to not reveal your Citibank account number.
J.D. J.D. Power recognized Citibank in February 2020 as having the highest customer satisfaction in retail banking advice. 3
How to bank with Citibank
Citibank customers can open an account online or by phone in any branch. Online banking and the mobile app of Citibank are available for customers to view transactions, make payments, and transfer funds once their account has been opened.
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