Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.
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.
The bottom line: Citibank (Member FDIC) 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.
Citi Review: Overall Rating
Product: | Business Insider rating (out of 5): |
Personal Bank Accounts | 3.25 to 4.25 |
Personal Loans | 3.25 |
Mortgages | 3.75 |
Personal Credit Cards | 2.5 to 4 |
Business Credit Cards | 3 to 4 |
Trustworthiness | 2 |
Total | 3.5 |
Citi Pros and Cons
Pros: | Cons: |
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About Citi
Citi Branch Accessibility
Citibank (Member FDIC) is a national bank with over 650 branches sprinkled around the U.S., 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.
What You Need to Know About Citi Banking
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.
Your Citi accounts are FDIC-insured for up to $250,000, or $500,000 for joint accounts.
Citi Digital Experience and App Usability
With the Citi mobile app, you can open checking and savings accounts, view your transaction history, make mobile check deposits, use Zelle, initiate online bill payments, and find ATMs. If you have a Citi credit card, you'll also get to check your FICO credit score for free.
The bank's online banking offers similar services. You'll be able to open bank accounts, view online bank statements, find Citi locations, and use online bill pay.
Citi's mobile app experience may not stack up to other big banks, though. According to a J.D. Power 2023 U.S. Online Banking Satisfaction Study, Citi ranked lower in banking mobile app satisfaction than the study average. For online banking satisfaction, Citi performed better, receiving 6 points above the study average.
The bank's mobile app is rated 4.9 out of 5 stars in the Apple store and 4.7 stars out of 5 stars in the Google Play store.
Citi Customer Support Availability
Citi's customer service is available 24/7 over the phone, which is more convenient than other banks. Some financial institutions only offer customer support from 9 a.m. to 5 p.m. on weekdays and limited support on weekends.
You can also chat online with a Citi customer representative from 6 a.m. to 10 p.m. ET.
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 Fees, Rates, and Financial Benefits
Understanding Citi's Fee Structure
Citi's fee structure is complicated. Your fees will depend on which bank accounts you have and whether you qualify for Relationship Tiers.
With the bank's standard checking accounts, you'll need to be mindful of monthly service fees, non-Citi ATM fees, money order fees, official check fees, and stop payment request fees.
If you have Citi Priority, the Citigold® Checking Account, the Citigold® Checking Account with a savings account, it'll be easier to waive common bank fees. For example, you'll be able to waive ATM fees, money order fees, and official check fees. However, you'll need to meet minimum balance requirements to get these accounts.
One fee that you won't have to worry about at Citi is overdraft fees. The bank eliminated overdraft fees, returned item fees, and overdraft protection fees on bank accounts in 2022. For that reason, Citi is one of the best banks for avoiding overdrafts.
Citi Savings and CD Rates and How They Compare
Citi® Accelerate Savings rates are comparable to high-yield savings accounts at the best online banks, and a good option if you can waive the monthly service fee. You aren't eligible for this account if you live California, Connecticut, select parts of Florida, select parts of Illinois, Maryland, Nevada, New Jersey, New York, Virginia, or Washington, DC.
People who aren't eligible for Citi® Accelerate Savings, have to get Citi® Savings. The Citi® Savings rate depends on your Relationship Tier. Regardless of which tier you're in, the Citi® Savings rate is lower than the average savings account rate. You'll want to choose a different bank to obtain a high savings rate.
Citi FAQs
Citibank offers checking accounts, savings accounts, CDs, business bank accounts, personal loans, home loans, and credit cards.
The fees associated with Citibank accounts largely depend on which bank accounts you have, but some fees to look out for may include monthly service fees, ATM fees, money order fees, and official check fees.
You can contact Citibank customer service by phone or live chat. If you live in California, Connecticut, Florida, Illinois, Maryland, Nevada, New Jersey, New York, South Dakota, Virginia, or Washington, DC, you can also visit a branch.
The pros of banking with Citibank are that you can choose from a variety of products, get 24/7 telephone customer support, and get competitive rates on select savings and CD options. The cons of banking with Citibank are that its banking fee structure is complicated, and certain markets aren't eligible for the bank's high-yield savings account.
Citi Personal Bank Account Review
Citi Access Checking
$5 monthly service fee
None
$0
$300
- No opening deposit
- No overdraft fees
- No paper checks
- $2.50 fee for using out-of-network ATMs
- BBB gives Citi an F in trustworthiness
- Earn $300 cash bonus by opening an eligible checking account and deposit at least two enhanced direct deposits totaling $1,500 or more within 90 days of account opening (offer ends 10/8/24)
- The most basic Citi checking account
- Access to over 650 branches in the US
- No minimum opening deposit
- FDIC insured
Citi Regular Checking
$15 monthly service fee
See Website for Details
None
$300
- No opening deposit
- $2.50 out-of-network ATM fee
- BBB gives Citi an F in trustworthiness
- Earn $300 cash bonus by opening an eligible checking account and deposit at least two enhanced direct deposits totaling $1,500 or more within 90 days of account opening (offer ends 10/8/24)
- Over 650 branches
Citi Priority
See website for details
None
$0
- No opening deposit
- No out-of-network ATM fees
- Access to Citi expert advisers
- BBB gives Citi an F in trustworthiness
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.
Citi Priority- No Citi fees at non-Citi ATMs
- 0.00% Annual Percentage Yield
Citigold® Checking Account
See website for details
None
$200,000
- Refunds any fees charged by out-of-network ATMs
- No overdraft fees
- Access to wealth management team
- You may qualify for up to $200/year in membership and subscription rebates
- You must have $200,000 combined in Citi bank accounts, and linked retirement/investment accounts to be a Citigold member
- BBB gives Citi an F in trustworthiness
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.
Citigold® Checking Account- 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
NA
$1,000,000
- NA
- NA
- 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
$4.50 monthly service fee
4.35% (vary by location)
$0
- High APY (minimum $0 balance to earn)
- No opening deposit
- You may pay a monthly fee, depending on a variety of factors
- Other fees depend on which checking account you link to your savings account
- Not available in certain states
- BBB gives Citi an F in trustworthiness
You might like Citi if you live in one of the areas that offers the Citi® Accelerate Savings account, so you can earn a higher savings rate than the national average. The best high-yield savings accounts, however, offer even more competitive savings rates.
Citi® Accelerate Savings- 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
Citi® Savings
$4.50 monthly service fee
up to 1.37% (vary by location)
None
- No opening deposit
- Higher APY than many brick-and-mortar banks
- Low APY compared to high-yield savings accounts
- $4.50 monthly fee
- Only available in certain states
- BBB gives Citi an F in trustworthiness
You might like Citi if you live in one of the areas that offers the Citi® Accelerate Savings account, so you can earn a higher savings rate than the national average. The best high-yield savings accounts, however, offer even more competitive savings rates.
Citi® Savings- New customers can earn 5.00% promotional interest rate for up to three months (1.30% to 1.37% 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 Business Insider's Citi Savings Rates Review.
Citi Fixed Rate CD
0.05% to 4.65%
$500 ($100,000 for the top rate)
- Range of CD terms
- Relatively low early withdrawal penalties
- Rates vary depending on term
- $500 to $2,500 opening deposit, depending on your state of residence
- Must visit a branch to deposit more than $10,000
- BBB gives Citi an F in trustworthiness
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.
Citi Fixed Rate CD- 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
0.05%
$500
- $500 minimum opening deposit
- Only term option is 12 months
- BBB gives Citi an F in trustworthiness
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.
Citi No Penalty CD- 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
0.05% to 0.15%
$500
- Low minimum opening deposit
- Get a rate increase every 10 months
- Standard early withdrawal penalties
- Low interest rate
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.
Citi Step Up CD- 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 Business Insider's Citi CD review.
Citi Personal Credit Card Review
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 2024.
- Citi Custom Cash Card Review
- Citi Diamond Preferred Card Review
- Citi Premier Card Review
- Citi Double Cash Card Review
- Citi Simplicity Card Review
- Citi Rewards Card Review
- Costco Anywhere Visa Card by Citi Review
- Citi AAdvantage Platinum Select Card Review
- Citi AAdvantage MileUp Card Review
- Citi Advantage Executive Card Review
Citi Business Credit Card Review
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.
- Costco Anywhere Visa Business Card by Citi Review
- CitiBusiness AAdvantage Platinum Select Mastercard Review
Citi Personal Loan Review
Citi Personal Loans may be worthwhile if you already bank with the company. To be eligible for a personal loan at Citi meet Citi's creditworthiness criteria.
See Business Insider's Citi Personal Loans Review.
Citi Mortgages Review
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 Business Insider's Citi Mortgage Review.
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 has more a more complex fee structure.
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.
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 customers, but Citi's account has a lower monthly fee that is automatically waived for the first three months.
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.
Is Citi Right For You?
Citi's strongest products are its home loans, credit cards, and high-yield savings accounts. If you want these products and live in an eligible market, Citi may be right for you. However, keep in mind that you'll benefit most from Citi products if you have the right combination of accounts to avoid common bank fees and earn Relationship Tier benefits.
You might not like Citi if you find its free structure confusing for banking or only qualify for Citi® Savings when you prefer a high-yield savings account.
Why You Should Trust Us: How We Reviewed Citi
For our Citi review, we rate bank products and services using our editorial standards.
At Business 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.