Citi Accelerate Savings
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| Community Rating | Mostly recommended |
| Monthly Fee | $0 - $4.50 |
| APY (Annual Percentage Yield) | 0.4% |
| Minimum Balance to Earn APY | $1 |
| Number of Reviews | 5 |
Citi Accelerate Savings Review
Citi Accelerate Savings is offered by Citibank, a bank founded in 1812 and based in New York, NY. It is made possible by a bank partnership with Citibank, N.A.. Citi Accelerate Savings is available in 40 states across the USA.
Key Takeaways
- Higher than average APY. Citi Accelerate Savings has an annual percentage yield of up to 0.4%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $1.
- Charges a monthly fee. This account charges a monthly service fee of up to $4.50, but the fee is waived if you keep a minimum balance of $500.
- No minimum initial deposit. There is no minimum balance required to open an account.
Citi Accelerate savings Pros & Cons
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Citi Accelerate savings FAQ
Are savings accounts from Citibank federally insured?
Yes, this account is insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Citibank offer a signup bonus?
Citi Accelerate savings has a signup bonus of $0.
What is the minimum initial deposit for Citi Accelerate savings?
There is no minimum deposit to open a Citi Accelerate savings.| Description | |
|---|---|
| Minimum Balance to Avoid Monthly Fee | Starting at $500 |
| Minimum Balance to Earn APY | $1 |
| Minimum Opening Deposit | Starting at $0 |
| Minimum Required Balance | $1 |
What APY does Citibank offer?
Citi Accelerate savings offers an APY of 0.4% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.What fees does Citi Accelerate savings charge?
Citi Accelerate savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
However, you can waive the monthly fees if you have a minimum daily balance of $500.
- Outgoing domestic bank transfers come with a $25 fee.
- Incoming domestic bank transfers come with a $15 fee.
- Outgoing international bank transfers come with a $35 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Incoming international bank transfers come with a $15 fee.
What features and perks does Citi Accelerate savings offer?
This savings account includes the following features:
- Fraud monitoring - Citi Accelerate savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Mobile Banking Services - Citi Accelerate savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Citi Accelerate savings?
In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Citi Accelerate savings?
The customer support email for Citi Accelerate savings is customer.help@citi.com.
How do people rate the customer service and user experience of Citi Accelerate savings?
Overall, Citi Accelerate savings is mostly recommended based on community reviews that rate customer service and user experience.
Message From Citibank
Contact
- Headquarters
-
388 Greenwich Street
New York, NY 10013 USA - (800) 950-5114
- Visit Site
- Email Support
Other Services by Citibank
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- Colorado
- Delaware
- Georgia
- Hawaii
- Iowa
- Idaho
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Mexico
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Utah
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
| Minimum Balance to Avoid Monthly Fee | Starting at $500 |
| Minimum Balance to Earn APY | $1 |
| Minimum Opening Deposit | Starting at $0 |
| Minimum Required Balance | $1 |
Citi Accelerate Savings Community Reviews
Would you recommend Citi Accelerate Savings to your friends?
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