Citi® Accelerate Savings

Citi® Accelerate Savings Review

Citi® Accelerate Savings is offered by Citi®, 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 are available in 40 states across the USA.

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.40%, which is much higher than the average interest rate for a savings account. However, you must keep a minimum balance of $1 to earn that insterest rate.
• Monthly maintenance fee waiver. Maintain an average monthly balance of $500 to waive your $4.50 monthly service fee.
• No minimum initial deposit. There is no minimum balance required to open an account online.

Citi® Accelerate savings Pros & Cons

Citi® Accelerate savings FAQ

Are Citi® Accelerate Savings deposits federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #07213) through Citibank, N.A.. 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 Citi® offer a signup bonus?

Citi® Accelerate savings doesn't offer a signup bonus.

What is the minimum initial deposit for Citi® Accelerate savings?

What APY does Citi® Accelerate Savings offer?

Citi® Accelerate savings offers an APY of 3.40% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

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?

Yes, you can typically set up a direct deposit to this account. 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.