Citibank is the is third largest bank in the United States. It has $1.34 trillion in assets and 174,246 employees. The bank has its headquarters in Sioux Falls, South Dakota, but it has 807 branches in 16 states and 281 international offices, as of December 2015. Citi has 200 million customer accounts and operates in over 160 countries. The bank has a four-star rating with Bauer Financial.
What Are Citibank’s Checking and Savings Accounts Like?
Citibank offers four types of checking accounts: Access Account, Basic Banking, Citibank Account, and Citigold Account. All account have access to a network of 34,000 surcharge-free ATMs and have no minimum initial deposit.
The Access Account and Basic Banking account offer the same features: online and mobile banking, and a debit card. The main difference is Basic Banking offers unlimited check writing, and Access Account does not include check writing. The monthly fee for Access Banking is $10. Basic Banking charges $12. Both fees can be waived if you maintain a $1,500 balance, set up a regular bill payment or have a direct deposit. The Basic Banking fee is also waived if you are 62 or over. Every withdrawal from a non-Citibank ATM incurs a $2.50 fee.
The Citibank Account is a full-service banking package that also pays interest. Rates range from 0.01% to 0.1% depending on the balance of the account. The monthly $25 service fee and ATM fees at non-Citibank ATMs are waived for customers who maintain a combined average monthly balance of $10,000 or more.
The Citigold Account is Citibank’s prime checking account. As well as the benefits offered by Citibank Account, it also waives fees on personal wealth management costs, provides access to dedicated service representatives, and provides preferential pricing for loans, lines of credit, and mortgages. It also pays higher interest rates, which range from 0.03% to 0.10% APY. The account has a $30 monthly service fee, which you can avoid if you maintain a $50,000 balance or a $100,000 combined balance in linked checking and saving accounts.
Citibank has one major savings account: the Savings Account. This savings account has no minimum balance. Customers can earn and APY of up to 0.30%.
What Are The Advantages And Disadvantages of Citibank’s Checking And Savings Accounts?
We love this about Citibank:
- Citibank checking and savings accounts do not have a minimum balance
- Access to a vast network of surcharge-free ATMs
- Wide selection of checking packages
- Several ways to waive monthly service fees
We don’t like this about Citibank:
- Charges a monthly service fee for checking accounts
- Low-interest rates on checking and savings accounts
- Only customers with high balances qualify for surcharge-free transactions at non-Citibank ATMs.
388 Greenwich Street
New York, NY 10013 USA
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Other Services by Citibank
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Monthly Fee||$0 - $4.50|
|Paper Statement Fee||$5|
|Returned Deposit Fee (Domestic)||$12|
|Wire Transfer Fee - Domestic (Outgoing)||$35|
|Wire Transfer Fee - International (Outgoing)||$45|
|Bauer Financial A+/A Rating|
|Bank Account Features||
|APY||0.04% - 0.3%|