Last Updated: 04/18/2025
SuperMoney User Recommendation Score +43
Mostly recommended7 total votes
Cast Your Vote
Compare All Savings Accounts
Filter & compare all your options in one place.
Highlights
Community Rating
Mostly recommended
APY (Annual Percentage Yield)
4.25%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Opening Deposit
$0
Minimum Balance to Earn APY
$1
Number of Reviews
Citi® Accelerate Savings Review
Citi® Accelerate Savings is offered through 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.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 4.25%, which is much higher than the average interest rate for a savings account.
- Waivable monthly maintenance fee. 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
| Pros | Cons |
|
|
Citi® Accelerate savings FAQ
Are Citi® Accelerate Savings deposits federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) 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?
There is no minimum deposit to open a Citi® Accelerate savings.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Citi® Accelerate Savings offer?
Citi® Accelerate savings offers an APY of 4.25% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
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?
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.
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 Citi® Accelerate savings
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