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Citi Accelerate Savings Unaffiliated

Citi Accelerate Savings

Unaffiliated
SuperMoney Net Recommendation Score +20  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +20, equating to 3.4 on a 5 point rating scale.

+20

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly recommended

3 users recommend
0 users are unsure
2 users don't recommend
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Highlights
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

Pros Cons
  • No limit on interest earned.
  • No minimum balance required to begin earning interest.
  • Free online banking services lets you transfer funds between your Citi and non-Citi accounts.
  • Military addresses and U.S. territories are also eligible to apply.
  • Available in 40 states.
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card
  • Access to a nationwide network of ATMs.
  • This savings account must be opened as part of a Citibank Account Package.
  • Digital banking only savings account. No brick and mortar bank access.
  • No signup bonus.
  • Online-only account with no access to physical branches.
  • Higher than average wire transfer fees.
  • Monthly service charge.

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.
Citi Accelerate Savings Minimums
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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Citibank

Citi's mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients. We have 200 years of experience helping our clients meet the world's toughest challenges and embrace its greatest opportunities. We are Citi, the global bank – an institution connecting millions of people across hundreds of countries and cities. We protect people's savings and help them make the purchases – from everyday transactions to buying a home – that improve the quality of their lives. We advise people on how to invest for future needs, such as their children's education and their own retirement, and help them buy securities such as stocks and bonds. We work with companies to optimize their daily operations, whether they need working capital, to make payroll or export their goods overseas. By lending to companies large and small, we help them grow, creating jobs and real economic value at home and in communities around the world. We provide financing and support to governments at all levels, so they can build sustainable infrastructure, such as housing, transportation, schools and other vital public works.

Stay on track Set savings goals, track your progress, and create a budget to help build your future. Get a 360? three hundred and sixty degreesview of your finances Manage your accounts, even external accounts, all in one place. 24/7 digital access Manage your account virtually anytime, anywhere with Citi Online Banking.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 10:00am - 3:00pm

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Availability

  Available in 40 states
  • 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
Monthly Fee $0 - $4.50
Returned Deposit Fee (Domestic) $12
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $35
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
Bauer Financial A+/A Rating
Account Features
  • Mobile Check Deposit
  • Interest Bearing Account
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card
  • Bauer Financial A+/A Rating
  • Branch Access
  • Member FDIC
  • Online-Only Account
Signup Bonus Starting at $0
APY (Annual Percentage Yield) 0.4%

Citi Accelerate Savings Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +20, equating to 3.4 on a 5 point rating scale.

+20

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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