Citibank Review

This global financial services firm offers multiple deposit account options

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Citibank is a global financial services firm that serves more than 200 million customers in 160 countries around the world. The bank was founded in 1812 in New York City and has since grown to boast more than $75 billion of revenue in 2022.

  • Pros & Cons
  • Company Overview
Pros & Cons
  • Open checking and savings accounts with no minimum deposits

  • World’s largest credit card issuer

  • More than 65,000 fee-free ATMs throughout the U.S.

  • Requirements to waive monthly fees on checking accounts

  • Need checking account to open savings and money market accounts

  • Up to $2.50 charge for using another bank’s ATM

Company Overview
  • Year Founded 1812
  • Official Website
  • Banking Product Offerings Savings, checking, CDs, MMA, credit cards
  • Customer Service Live support and secure messaging responses: phone numbers vary based on department. Account access online or via app 24/7

Pros Explained

  • Open checking and savings accounts with no minimum deposits: Citibank offers six checking and five savings account packages and an online savings account. Each of these accounts does not require a minimum opening deposit.
  • Worlds largest credit card issuer: As the world’s largest credit card issuer, Citibank has many credit card options available to customers. Credit card purchases can earn airline miles, cash back, travel rewards, or the bank’s proprietary ThankYou points.
  • More than 65,000 fee-free ATMs throughout the U.S.: With so many ATMs throughout the U.S., customers should be able to find a Citibank ATM close by to avoid fees.

Cons Explained

  • Requirements to waive monthly fees on checking accounts: Many banks offer at least one account that’s completely free without any requirements. All of Citibank’s checking accounts require either a minimum balance or qualifying activity to waive the fee. Meeting these hurdles can be a challenge for some customers.
  • Need checking account to open savings and money market accounts: To open a savings or money market account with Citibank, these accounts must be opened as part of a checking package. Customers who only want a savings or money market account are not able to open just these accounts.
  • Up to $2.50 charge for using another banks ATM: If you use another bank’s ATM, Citibank will charge you $2.50 for each transaction if you have the Basic or Access checking accounts. Other bank ATM fees are reimbursed if you have the Citi Elevate or Citigold checking accounts.

Who Is Citibank Best For?

As a large bank with more than 2,300 branches and over 65,000 ATMs in the U.S., Citibank offers convenient access to your money. Though it is not the best fit for customers who can’t meet the minimum balance requirements to waive fees, it is best for those who: 

  • Prefer access to bank branches and ATMs
  • Have enough money in their account to avoid monthly fees
  • Want access to a variety of credit card options
  • Desire multiple checking account options to fit their lifestyle
  • Prefer access to bank branches and ATMs
  • Have enough money in their account to avoid monthly fees
  • Want access to a variety of credit card options
  • Desire multiple checking account options to fit their lifestyle

What Does Citbank Offer?

As you might expect from a financial services firm of its size, Citibank offers a wide variety of accounts and services.

Checking Accounts

Citibank offers five regular checking account packages and one high-yield package for customers based on their needs. All checking account packages have no minimum opening deposit amount. However, each checking account package charges a monthly service fee if the minimum criteria are not met.

You can waive monthly service charges for the Access Account and Basic Banking packages through one of three ways: having a qualifying direct deposit, making a qualifying bill payment, or maintaining a combined average balance of $1,500 or more in eligible linked accounts.

These are the checking account packages from which to choose:

  • Access Account
  • Basic Banking
  • The Citibank Account
  • Citi Priority
  • Citigold
  • Citigold Private Client

Savings Account

All five regular checking account packages come with a savings account. The CitiGold Private Client savings account must also be opened with a Citibank checking account package. You cannot open this savings account without opening a checking account too.

There is no minimum deposit required to open your savings account. This account does not have a monthly service fee and must be part of a Citibank checking package.

Money Market Account

The CitiBusiness Account is a money market account that earns short-term market rates in an account insured by the Federal Deposit Insurance Corporation (FDIC). Account owners can write checks in all checking packages except the Access Account package. The Citi Savings Account must be part of a Citibank checking package, and it does not have a separate monthly service charge.

Certificates of Deposit (CDs)

Citibank offers three certificates of deposit (CD) with unique features. All CDs require a minimum opening deposit, but some offer higher rates for larger balances.

The first is a fixed-rate CD with terms ranging from three months to five years. A second option is a Step Up CD, where the rate increases every 10 months. The final option is a CD, where you will earn a guaranteed interest rate but can withdraw your balance at any time.

For CDs of one year or less, there is an early withdrawal penalty of 90 days of simple interest. If a CD matures in more than one year, the penalty is 180 days of simple interest.

Term APY
3 Months 0.05%
4 Months 0.05%
5 Months 0.05%
6 Months 1.10%
9 Months 4.05%
11 Months 2.00%
1 Year 4.05%
13 Months 0.10%
18 Months 4.05%
2 Years 2.50%
3 Years 2.50%
4 Years 2.50%
5 Years 2.50%
(as of April 19, 2023)
Term APY
1-10 Months 0.05%
11-20 Months 0.10%
21-30 Months 0.15%
(as of April 10, 2023)
Term APY
12 Months 0.05%
(as of April 10, 2023)

Credit Cards

Citibank is the world’s largest issuer of credit cards, so there are many types of credit cards available for consumers and small business owners. These credit cards offer airline miles, travel rewards, cashback, and Citibank’s proprietary rewards called ThankYou Points. Here are some of the credit cards offered by Citibank.

Citi ThankYou Points Cards

  • Citi Rewards+ Card
  • Citi Custom Cash Card
  • Citi Premier Card
  • AT&T Access Card from Citi

Cash-Back Credit Cards

  • Citi Double Cash Card
  • Costco Anywhere Visa Card by Citi

Travel Rewards

  • Citi / AAdvantage Platinum Select World Elite Mastercard
  • American Airlines AAdvantage MileUp Mastercard
  • Citi / AAdvantage Executive World Elite Mastercard

Business Credit Cards

  • CitiBusiness / AAdvantage Platinum Select Mastercard
  • Costco Anywhere Visa Business Card by Citi

Other Financial Products Offered by Citibank

Citibank also offers many other banking products and services:

Your deposit and investment relationship with Citibank can save money on other products. For example, you’ll save money by agreeing to automatically draft your mortgage payment from your Citibank account. You save $500 on mortgage closing costs by having a Citibank account.

Citibank Customer Service

Customers can access their accounts through the Citi Mobile app, CitiPhone banking, or Citi text banking. To speak with a live person, you can visit a branch, chat online, or call customer service.

On the Citi Mobile app, you can view account balances, make mobile check deposits, find nearby branches or ATMs, and make bill payments. If you are an Apple fan, you can pair the mobile app with your Apple Watch. The app is currently ranked No. 17 in the Finance category on the iOS App Store and has a 4.9-star rating. Similarly, the Google Play version has 4.8 stars.

You can also ask general account questions through the Twitter account @AskCiti. However, you must remember not to disclose your Citibank account number or other account access information when Tweeting with @AskCiti.

J.D. Power recognized Citibank as the second highest in customer satisfaction with retail banking advice in their latest study.

How to Bank With Citibank

Customers can sign up for an account with Citibank in a branch, online, or over the phone. Once your account is open, online banking and its mobile app are available to view transactions, transfer funds, or make bill payments.


Citibank is one of the largest financial institutions in the world. It offers a variety of account packages to meet your needs, and it has thousands of branches and ATMs at which to access your account. There are no minimum deposit requirements to open checking or savings accounts. However, Citibank accounts are best suited for people who can meet the balance or activity requirements. These customers can waive fees with combined balances and receive discounts with relationship pricing.


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  9. J.D. Power. “2022 U.S. Retail Banking Advice Satisfaction Study."