CitiBank is one of the world’s largest financial institutions, with over a trillion dollars worth of assets. It features a wide scope of business operations, from small business and commercial banking, to credit cards and investment vehicles. Its personal banking options feature standard products like checking, savings, and money market accounts, as well as certificates of deposits. The bank also features services that are unique to CitiBank and offer customers intuitive means of managing their deposit accounts.
CitiBank’s checking account offerings differ by account requirements and benefits. It has a student account that has no monthly fees and comes free ATM use, and its premium account offers free financial advice from a CitiBank expert. Each checking account is part of the bank’s reward program that offers ways for customers to earn points that can be redeemed for various merchandise or travel rewards. CitiBank’s savings account options feature a basic savings account with no monthly fees when a minimum daily balance is kept, and a money market account that offers increased rates of interest as the account balance grows. CDs and IRA CDs give customers guaranteed interest rates and are available in term lengths from 3 months to 5 years. CitiBank regularly features special offers connected to various deposit accounts, from bonus reward points to cash back incentives.
CitiBank online banking is free and makes account management easy for customers. From bill payment to money transfers to account alerts, Citi’s Internet banking platform offers great functionality. Its smartphone and tablet apps make banking on the go convenient and offer nice user interfaces. Citi’s sophisticated financial tools also provide a means for customers to analyze expenses, create budgets, track their net worth, and set bill reminders. The bank operates its own ATM network of over 26,000 ATMs located across the United States and in 40 countries.
CitiBank has more than 200 years of history behind its name, being originally established in New York City as the First National City Bank in 1812. It is a subsidiary of CitiGroup, which is a company that operates numerous trusts and funds under its umbrella. The bank changed its name to CitiBank in 1976 moved to its current headquarters in Sioux Falls, South Dakota in 2011.
Citibank accounts are just not that great. They have lots of fees; they require large balances such as 1500 or 6000 or 10000 or 100000 to avoid ridiculous monthly service fees. Plus, they still charge you for wires, official bank checks, and to use a non-Citibank ATM without any reimbursements of non-Citi ATM fees. Plus, I find that everytime I call customer service reps, even for more banking questions and issues, are outsourced to India. They do not help. I had to go to my branch bank and have them go through some internal callings to follow up on banking issues.
Their credit cards are ok. The thankyou network is ok. Sometimes the thankyou points to gift card conversions is not 1-1, more like 0.833:1
Citibank should be boycotted because of their high interest rates, absurd fees and and complete lack of regard for their clients. They will ruin the credit of customers in EXCELLENT standing, by making decisions that they refuse to justify. I am totally fed up with this poor excuse for a bank and the incompetent management who took billions in bailout money, and paid huge bonuses to the executive buffoons, when they should have been left to crumble. And now they continue to turn their backs on clients. Thats what the goverment should have done to them, and hold senior management criminally responsible.
I have had a horrible time trying to make payments onto the account I have.
First off, we purchased my engagement ring at Fred Meyer Jewelers. Who are awesome and amazing! Unfortately Citi Bank screwed the pooch with Fred Meyer and they are no longer using Citi Bank.
This is where my issue started... I tried and tried to make payments on my account by the deadline and their electronic check hotline would always say that they accepted the payment and three or four days later it would be returned. I would then call and speak with a representative who would give me the run around for about 45 mins till I was blue in the face. Finally I would get a manager who would be able to assist me and not have to speak off a script and yet not all my questions would be answered.
I have tried 4 more times between calling and than be redirected back into their electronic check hotline to by a representative because I said I did not want to be charged the $14.95 fee for having a representative assist me with payment. I was only talking to them because their hotline kept giving me an error of" Sorry could not process that requested, Please hold one moment for a representative..." and I would then again I would be speaking with a representative who couldn't take a payment without charging me the $14.95 fee for payment. Yet their system wouldn't accept payment.
After playing this game for about 5 rounds... I got a representative who directed me to their website to make an online payment. At this time, I am thinking.. "Awesome! I can pay off my $1100 remaining balance!" Unfortately it would not allow me access to make an online payment but then direct me to speak with a representative again.
How in the world is a card holder suppose to make a payment if the customer service/billing will not accept payment without adding another fee onto the account.
I have found thier games to be ridiculous! Frustrating and right now mad hatter style.
STAY AWAKE! FAR FAR AWAY! GO WITH ANOTHER COMPANY FOR ANYTHING AND EVERYTHING EVEN IF THEY HAVE HIGHER INTEREST RATES!
I bet you would get better customer service and assistance with any of your banking needs!
CD Early withdrawal penalty is huge, upto 1 year of earnings, even though CD rates are high maybe 2% APY.
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Citibank had $8.9 billion in non-current loans and owned real-estate with $162.6 billion in equity and loan loss allowances on hand to cover it. This gives Citibank a Texas Ratio of 5.47% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Citibank decreased slightly from 6.94% as of March 31, 2013 to 5.47% as of March 31, 2014, resulting in a positive change of 21.16%.This indicates that the balance sheet and financial strength for Citibank has improved slightly in recent periods.
In the past year, Citibank has increased its total deposits by $24.44 billion, resulting in 2.57% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Citibank has shown is above average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Citibank has $1353.24 billion in assets with $162.6 billion in equity, resulting in a capitalization level of 12.02%, which is excellent.
|FDIC Certificate #||7213|
|Assets and Liabilities|
|Equity Capital||$147.62 billion|
|Loan Loss Allowance||$14.98 billion|
|Unbacked Noncurrent Loans||$8.58 billion|
|Real Estate Owned||$311.00 million|
|Historic Data - March 2013|
|Equity Capital||$148.84 billion|
|Loan Loss Allowance||$19.46 billion|
|Unbacked Noncurrent Loans||$8.58 billion|
|Real Estate Owned||$289.00 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.41%|
|Return on Assets||0.98%|
|Return on Equity||8.97%|
|Interest Income||$11.85 billion|
Always verify rates and promotions with the bank or credit union. We are not Citibank, we are a rate comparison website and can not provide official rates or promotions.
|0.15%||$500k||-||Citibank Savings Plus Account|
|0.15%||$100k||-||Citibank Savings Plus Account - Citigold|
|0.05%||$500||-||Citigold Interest Checking|
|0.01%||$100||-||Interest Checking Account|
|0.50%||$1k||-||5 Year CD|
|0.35%||$1k||-||3 Year CD|
|0.35%||$1k||-||4 Year CD|
|0.25%||$1k||-||18 Month CD|
|0.25%||$1k||-||2 Year CD|
|0.25%||$1k||-||30 Month CD|
|0.20%||$1k||-||1 Year CD|
|0.20%||$1k||-||13 Month CD|
|0.15%||$1k||-||9 Month CD|
|0.15%||$1k||-||10 Month CD|
|0.10%||$1k||-||6 Month CD|
|0.10%||$1k||-||7 Month CD|
|0.10%||$1k||-||8 Month CD|
|0.05%||$1k||-||3 Month CD|
|0.05%||$1k||-||4 Month CD|
|0.05%||$1k||-||5 Month CD|
|0.50%||$1k||-||5 Year IRA|
|0.35%||$1k||-||3 Year IRA|
|0.35%||$1k||-||4 Year IRA|
|0.25%||$1k||-||18 Month IRA|
|0.25%||$1k||-||2 Year IRA|
|0.25%||$1k||-||30 Month IRA|
|0.20%||$1k||-||1 Year IRA|
|0.20%||$1k||-||13 Month IRA|
|0.15%||$1k||-||9 Month IRA|
|0.15%||$1k||-||10 Month IRA|
|0.10%||$1k||-||6 Month IRA|
|0.10%||$1k||-||7 Month IRA|
|0.10%||$1k||-||8 Month IRA|
|0.05%||$1k||-||3 Month IRA|
|0.05%||$1k||-||4 Month IRA|
|0.05%||$1k||-||5 Month IRA|