Last Updated: 04/18/2025
SuperMoney User Recommendation Score +50
Strongly recommended6 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
0.05%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $0
Minimum Balance to Earn APY
$1
Number of Reviews
Citi® Savings Account Review
Citi® Savings Account 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. Citi Savings Account are available in 9 states and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
- Charges a monthly fee. This account charges a monthly fee of up to $4.5, but the fee may be waived if you keep a minimum balance of$500.
- No minimum initial deposit. There is no minimum balance required to open an account online.
- No ATM fees. Citi® Savings Account does not charge fees on ATM transactions .
Citi Savings Account Pros & Cons
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Citi Savings Account FAQ
Are Citi® Savings Account deposits federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) through Citibank . 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 Savings Account has a bonus of $0 .
What is the minimum initial deposit for Citi Savings Account?
There is no minimum deposit to open a Citi Savings Account.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Citi® Savings Account offer?
Citi Savings Account offers an APY of 0.05% (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 Savings Account charge?
Citi Savings Account 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 $35 fee.
- Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Citi Savings Account charges $5 every time you request a paper statement.
What features and perks does Citi Savings Account offer?
This savings account includes the following features:
- Fraud monitoring - Citi Savings Account 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.
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Citi Savings Account 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 Savings Account?
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 Savings Account?
The customer support email for Citi Savings Account is customer.help@citi.com.
How do people rate the customer service and user experience of Citi Savings Account?
Overall, Citi Savings Account is strongly recommended based on community reviews that rate customer service and user experience.
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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.
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