Citi


Overview / Commentary
605-331-2626
5800 S Corporate Place
Sioux Falls, SD 57108

Citi, also known as 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 Citi and offer customers intuitive means of managing their deposit accounts.

Citi’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 Citi 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. Citi’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. Citi regularly features special offers connected to various deposit accounts, from bonus reward points to cash back incentives.

Citi 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.

Citi 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.

Related Posts

Citibank Unresponsive - 4/13/2020

Citibank was promoting their Priority Accounts and a $700 bonus for depositing $50K within 30 days of opening. Applied on-line and 1 week later received 1 letter that checking account was opened. For the next 3 weeks was told by their customer service that welcome package, debit card, PIN, and savings account number were "in the mail". Never received any of it despite many calls to them. Not even instructions on how to fund the account(s). After 4 weeks, sent them a letter telling them to close accounts (if they were even opened). Will never put any of my money in "Citi" would probably not even be able to get it out. They lie and have no idea what they are doing. Even had their customer service hang up on me when asking about my supposed accounts. Telling anyone I know, not to deal with them. THE WORST!

Citi - Offers Cash Bonus For New Checking/Savings Accounts - 1/30/2020

Offer 1/1 to 3/31/2020 Cash bonus: $200, $400, $500, $700 or $1,500, depending on the Account Package you select.  (Scroll to the bottom for a table of the cash bonus options to choose from to click "See Offer Terms and Conditions") Minimum balance must be kept for 60 days to get cash bonus. ""Eligible Customers" are New-to-Citibank Checking Customers who have not been a signer on a Citibank checking account within the past 180 days." https://banking.citi.com/cbol/checking-700/default.htm?Promo_ID=4FWVDEFPBWCHP7&intc=1~1~52~6~BANR~2~CheckQ419_700SA~HP&BT_TX=1&ProspectID=7FAD1E2171C04023BB9C20F01EC85F6F 

Citi Accelerate Savings @2.05% APY Is NOT Available In FL - 12/12/2019

Sadly it appears the 2.05% APY via the Accelerate Savings account is not available in States where Citi has branches. It surely isn't available in Florida but is available in Texas.

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12/3/17 - Citibank Fined For Illegal Student Loan Servicing Practices
4/17/17 - Citibank Offers $500 Checking Bonus
12/29/16 - Citibank Features $300 Checking Bonus
11/18/16 - $300 Citibank Checking Account Bonus
6/15/16 - $400 Checking Bonus After 120 Days, Through 8/31/16
1/24/16 - CREDIT CARD
10/30/14 - What You Can Do About The Rising Citibank Checking Account Fees
10/21/14 - Citi’s “Secure Message Center” Sends Online Message To Wrong Person
10/14/14 - Citi Pulls Consumer Banks From 11 Markets
9/29/14 - Is Citibank's New Checking Account Worth A Look?
4/9/14 - Citigroup To Pay $1.13 Billion To Settle Securities Claims
3/21/14 - Citibank To Raise Out-Of-Network ATM Fees
3/3/14 - Citigroup Discloses Money-Laundering Subpoenas
2/18/14 - Citibank Checking Account Bonuses of $250 and $500
2/12/14 - $125 + $125 For New Citibank Account
1/24/14 - Citibank’s ATM Experience Takes On A New Look
10/2/13 - Citibank Checking Account Bonus of up to $400
10/2/13 - History of Citibank Bonus Payouts
8/30/13 - Citigroup Said To Seek Sale Of 50 Texas Branches In Rural Areas
9/13/12 - Review of the Latest Citibank Checking Account Bonuses and Fees
7/9/12 - Citibank Aadvantage Bonus Miles For New Ckg
1/17/12 - Citigroup Q4 Earnings & My Review For Future Deposit Rate Insights
10/17/11 - Citibank Arrests Customers For Trying To Close Accounts
10/4/11 - Now Citibank Reveals It Will Charge Customers $20 If They Have Too Low An Account Balance
10/4/11 - Citibank Adds Money-Tracking Tools To Online Banking
9/19/11 - Larger Checking Account Fees at Citi, But Bonuses Continue
9/16/11 - Citibank To Raise Monthly Fees On Checking Accounts
6/9/11 - Citibank Security Breach
4/5/11 - Citibank Will Minimize Overdraft Fees On Checks
2/3/11 - $125 Citibank Checking Account Promotion - YMMV
10/9/10 - Tax On The CD Opened In 2009 With The Citi Secured Credit Card
9/22/10 - $250 Prepaid Gift Card with Citibank Business Checking Account
9/17/10 - Citibank Checking/Savings Account Promo with up to 40,000 ThankYou Points
9/1/10 - Citibank To Reduce Fees On Checking Accounts
7/26/10 - Citibank Checking Account Bonus Of $200 Or $400 In Los Angeles Area
7/22/10 - Free Checking For Certain Citibank Customers
6/28/10 - Making The Most Out Of Citi's Thank You Network Points
5/18/10 - Citibank 5% Cash Back Debit Card Promotion
2/24/10 - No More Cash Back When Funding Citibank Accounts with a Credit Card?
2/23/10 - Citibank's New 7-Day Rule for Withdrawals?
2/23/10 - $100 Citibank Checking Account Bonus
2/22/10 - Update on Citi's 4.07% 18-Month Secured MasterCard CD
2/21/10 - This Bank Appears To Be Heading In An Unfriendly Direction
2/10/10 - $25 Bonus for Opening Citibank Ultimate Savings Account
2/2/10 - When 'free checking' isn't free [CNNMoney]
1/26/10 - Citibank Checking Bonus of 20,000 ThankYou Points [SD]
12/22/09 - Update on the 4.07% 18-Month CD ($25K Max) at Citibank via its Secured MasterCard Program
12/8/09 - Citibank Raises Yields: 3.50% Savings Account, 4.00% 6-Month CD
9/19/09 - Update on Citibank's CDs - Branch Specials & Secured MasterCard CD - Update
9/18/09 - 4.07% 18-Month CD ($25K Max) Continues at Citibank via its Secured MasterCard Program
9/10/09 - Update on Citibank's CD Specials - 4.00% 60-Month CD Continues in Some States
8/26/09 - Update on Citibank's CDs - Branch Specials & Secured MasterCard CD
8/6/09 - 4.07% 18-Month CD ($25K Max) at Citibank - Nationally Available
7/18/09 - 4.00% 60-Month CD & 2.50% 24-Month CD at Citibank in Some States
4/21/09 - Citibank CD Specials - 2.50% 8-month in CA & 2.75% 12-month in TX
4/21/09 - Update on Citibank CD Specials - 2.50% 8-Month CD in a Few States
1/28/09 - Citibank's Checking, Money Market and Credit Card Promotion
1/28/09 - $100 Checking Account Bonus at Citibank
12/21/08 - $25 Bonus at Citibank for Opening the Ultimate Savings Account - Update
11/24/08 - Unlimited FDIC Coverage for Citibank Checking Accounts
10/7/08 - $25 Bonus at Citibank for Opening the Ultimate Savings Account
9/17/08 - Citibank Specials: 4.00% 6-Month CD in CA and NV, 3.75% MMA in TX
5/29/08 - $150 Citibank Checking Account Bonus
5/13/08 - New $200 Citibank Checking Account Promotion
4/4/08 - Citibank Checking and Savings Account Promotions
3/13/08 - Citibank Raises Yield on Ultimate Money Account to 5.10% / Citibank Promo Updates
12/9/07 - $200 Citibank Checking Account Promotion
11/19/07 - Extended 5% Cash Back Promo for Citi Dividend Credit Cards
9/11/07 - Update on the Citibank $200 Checking Account Promotion
8/7/07 - New $200 Checking Account Bonus at Citibank
7/19/07 - Another New $100 Bonus for Citibank Ultimate Savings Account
5/29/07 - New $200 Citibank Checking Account Bonus
5/17/07 - New $100 Bonus for Citibank Ultimate Savings Account
5/11/07 - Citibank's New 5% Ultimate Money Account
5/11/07 - New $50 Bonus for Citibank Ultimate Savings Account and Bonus Updates
4/3/07 - Citibank Drops e-Savings Account Rate to 4.50%
3/1/07 - Citibank e-Savings Account Bonuses
3/1/07 - $25 Bonus for Citibank's New Ultimate Savings Account
1/30/07 - Citibank Drops e-Savings Account Rate to 4.75% - Other Citibank and Online Banking News
12/30/06 - $100 Citibank Checking and e-Savings Account Bonus
10/25/06 - $25 Bonus for Citibank's e-Savings/EZ Checking Package
9/6/06 - 6.00% 6-Month CD Still Available for Those in Texas
8/13/06 - Another Chance at $200 Citibank Checking Account/Credit Card Deal
6/27/06 - 5.50% 6-Month CD at Citibank (available to all)
6/26/06 - Citibank's e-Savings Account now 5.00%
6/25/06 - 6% 6-Month CD at Citibank Texas
6/13/06 - New Citibank Checking Account Bonus - Free Plane Ticket
6/6/06 - e-Savings Account Impact to Citigroup
5/16/06 - Citibank's e-Savings Account Now 4.75%
3/29/06 - Citibank's 4.5% e-Savings Account
3/14/06 - More $100 Sign-Up Bonuses for Citi Credit Cards
1/29/06 - $200 Citibank Checking Account/Credit Card Deal
1/25/06 - $100 Gift Card Citicard Deal
12/14/05 - Another Citibank $200 Checking Account Bonus
12/8/05 - $100 Gift Card for Citibank Credit Card
12/3/05 - Free Palm for Citibank Checking
10/7/05 - Citibank $200 Checking Account Deal
9/5/05 - Citibank iPod Deal and Online Banking

Reviews (152)

Banking with Citi as a student was simple

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I banked with Citibank while I was a foreign student in New York City. I used the account to receive money from my parents who were not in the US. Citibank charged reasonable exchange rate and wire transfer fees. As a student, they allowed me to open a checking/ savings account with no minimum account balance required. They also provided me with free check books that really came in handy. After I graduated, I used Citibank to send money back to my Citibank account based in my home country to pay back a loan. Citibank never revoked my student status so I never felt the pressure to maintain a high account balance. When I did transfer funds internationally, I simply walked into a nearby Citibank branch and was always greeted by friendly bank employees. I have always had a good experience with Citibank.

Citi Bank W9 Form Submitting Process

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This is the Citi specialty - form W9.
I don't remember W9 form for a requirement from any other banks or unions so far.
The process of submitting the form is taking already around four weeks. Mailed with a welcome kit envelope and faxed to a provided number. Checked a status - not on file. Mailed again to another provided address and faxed to another number. Checked the status - not on file. Called to local office numerous times - busy signal and instantaneous route to a call center. The same result if you choose a different language. I will drive to their local office. My hope is - they will allow to fill W9 form in the office. The bank immediately started withdraw Federal tax as it seen on my first statement from the Citi bank. I will update my review next week after my visit to their local branch.
I drove today to a local office. It took less than 5 minutes to fill out a new W9 form. Nice, efficient and helpful representatives in the local office.

What A Mess

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So I applied for and was approved for interest checking and Citi accelerate savings. So I went into my account and found no proof that I would get the 2.36 percent. So I kept digging. Turns out this rate isn't available in NY! I would be getting, evidently, some God awful brick and mortar savings rate of around .13 percent. Thats right. I was approved for a product not available in NY. Not funny. Can't wait to shred the checks and debit cards on the way.
Update- On August 10 i called Citibank and was told my rate would be .04 percent. I closed my accounts.

I Would Advise Heavy Caution Before Banking Here

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Here’s my experience banking at Citi, and hope it helps you make your decision. Citi is a Very Nervous Bank - I opened a 50K CD Account doing their promotion of $700 in 2019. The account opening process was okay, a little cumbersome, and did ask for a lot of info that seemed overboard and more than other banks normally do, including security questions from possibly decades ago like which street you may have lived on 20 years ago, with answer choices, etc…. But once it got opened, assuming you answered all of their security questions to their satisfaction correctly, I thought it would be smooth sailing from there. After opening, had to link external bank account with trial deposits, pretty standard nowadays.

Once the link was established, I did the next logical thing, tried to transfer money into the new Citi Account. After doing this, I ended up getting fraud alerts and started getting phone calls from Citi about my transfer. So, I had to call in to Citi Fraud Department, talk to a specialist, and then do a 3 way call with my bank to confirm that I initiated the transfer. Really? Why is it a fraud alert if I'm trying to put IN money into my account, not taking anything out. That was quite the hassle! Was a 3 way call really necessary with my external institution, after I've confirmed my information already online, and confirmed the external bank trial deposits? The money was finally settled into the account. Then, had to call in a few days later to ensure everything was set with the account and the promotion.

Well, I came to find out that I had to split my money up to have some in the Savings/Money Market and to have some in the Checking in order to qualify. So, the customer service associate did that for me, but had I not called in to ask, I would have never known nor would I ever been notified! I would have waited several months expecting $700 bonus and possibly never had received it. I did have to wait about 5 full months before getting the actual $700 promotion bonus. I did receive it eventually, and within the time frame noted on the promotion, I believe within 90 days from the end of the 60 days you have the $50K in your account. But I did inquire over that period about it, only to be told that if I did sign up for the promotion, it will be processed before the promotion expiry period.

Keep your promotion code with you that you signed up with, I can’t recall how many times I got asked what the PROMO code was that I signed up with. I would think Citi should have better records and it should be recorded next to the account information! So, fine, I'm happy, finally received the $700 after approx. 5 months of opening the account, and waiting. So, then I decide I want to take out my $50K and put it back to my externally linked institution on the account, because I’m getting a better savings/CD rate there at the time. So, I find out that Citi only allows up to $15K External ACH Transfers per Rolling 30 day Period! So, that means if I want to take the full $50K out of my account, I will have to do it over 4 months in a phased approach! What? That is crazy. Secondly, I could do a Wire Transfer which has a fee of $17.50.

Before I find all of this out, I try to do some small ACH transfers out of my account to my externally linked account, less than $5K worth, just to start the process of transitioning my money from my Citi Acct. to my External Account, and guess what more fraud alerts! So this time I get bombarded with fraud alerts in my Text Messages, In my Citi Online Account Messaging Center, and my Email, asking if I did this measly transfer of less than $5K to my external institution. Then, after clicking YES, I did that transfer, it still asks me to call into the Citi Fraud Department to verify my account and clear things. Over less than $5K! Are you kidding? That's peanuts. Then, I call in to the number it lists on the secure online email, I’m thinking directly to their Fraud Department. But, it happens to route me to their general customer service department after waiting 20 minutes on hold.

Then, he bounces me around to a different department, which happens also to be another Customer Service Department representative, who then tries to transfer me to the Fraud Security Department, only to come back and tell me that it’s the weekend and their Security Department is closed, and to call back Monday. So, I wasted almost a whole hour to hear that. Monday arrives and I call directly into their Fraud Prevention/Security Department first thing in the morning, thinking I can get this quickly resolved and move on with other things in life. After going thru their automated system, I connect to a rep., she asks me for my full debit card # and then asks to send a one-time code to my phone. Fine, both are done. Then, she tells me that all looks okay in the account, but they just wanted confirmation that I did the transfer, and noted that I had already cleared out the alerts by responding to the automated alerts already.

So, I found out, to get around all this, I did an ACH transfer initiation from my external account from my Citi Account, and that was done without hassle. So, if you can, do not try to initiate an external ACH/EFT transfer OUT from your Citi account but initiate it from your external account FROM your Citi Acct. That will save a lot of hassles and will bypass the withdrawal limits. All in all, if time and not having stress is something you value, I would advise to skip banking here. Don't be suckered in by their bonus promotions, they come with a lot of hassles and hoops.

In my opinion, I would have been better off at some online bank storing the $50K making nominal interest on a CD over those 5 months without worry or stress, even though it would much less than $700 in interest. Gladly, I stopped my family members from opening accounts with Citi for this same promotion, they would have been pissed dealing with the hassles of this bank. There IS a such thing as being too restrictive, secure, and nervous about your banking methods, so much that it makes it very inconvenient to do banking with you. Citi, please get with the program!

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Health

Health Grade Components

Overall
FDIC Certificate #7213
Year Established1812
Employees158759
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.2%
Return on Equity - YTD11.65%
Annual Interest Income$59.38B
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1,454B$1,406.7B
LoansQ4 2019vs Q4 2018$655.9B$642.2B
DepositsQ4 2019vs Q4 2018$1,079.8B$1,025.1B
Equity CapitalQ4 2019vs Q4 2018$150.1B$148B
Loan Loss AllowanceQ4 2019vs Q4 2018$11.05B$10.65B
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$5.40B$4.85B
Real Estate OwnedQ4 2019vs Q4 2018$52.0MM$87.0MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Citi; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Citi Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%--Citi Accelerate Savings

Citi Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$25k*-High Yield Checking
OTHER TIERS: 0.20% Up to $10k | 0.30% $10k - $25k
0.60%*$25k*-Interest Checking - Citi Elevate
OTHER TIERS: 0.20% Up to $10k | 0.30% $10k - $25k
0.03%--Interest Checking - Citigold
0.03%$50k-Checking Account
0.01%--Interest Checking Account

Citi CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$1k-4 Month CD
0.25%$1k-3 Month CD
0.25%$1k-5 Month CD
0.25%$1k-1 Year CD
0.25%$1k-5 Year CD
0.20%$1k-18 Month CD
0.20%$1k-2 Year CD
0.20%$1k-3 Year CD
0.20%$1k-4 Year CD
0.20%$500-12 Month No Penalty CD
0.17%$500-30 Month Step Up CD
0.10%$1k-6 Month CD
0.10%$1k-7 Month CD
0.10%$1k-8 Month CD
0.10%$1k-9 Month CD
0.10%$1k-10 Month CD
0.10%$1k-30 Month CD
0.10%$1k-13 Month CD
0.10%$1k-14 Month CD
0.10%$1k-15 Month CD
0.10%$1k-11 Month CD
Locations

Availability

Chicago Area

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.