Citi Accelerate Savings Review

Citi Accelerate Savings is offered by Citibank, a bank founded in 1812 and based in New York, NY. The offering is made possible by a bank partnership with Citibank, N.A.. Citi Accelerate Savings is offered in 40 states across the USA.

Are savings accounts from Citibank federally insured?

Yes, your Citibank savings accounts are 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.

What APY does Citibank offer?

Citi Accelerate Savings offers an APY up to 2.21% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What features and perks does Citi Accelerate Savings offer?

This 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.
• Nationwide ATM network - Withdraw money and check your balance from wherever you are.

What fees does Citi Accelerate Savings charge?

Citi Accelerate Savings does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fee 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.
• Outoing 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.