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.
I opened my Citibank checking account when I was 20 years old. I chose it because the branch was directly across the street from my law school. They were so friendly and helpful and explained everything to me (and there was lots to explain to my 20 year old self). I am now 41 and still have the same checking account. Over the years, Citi has changed their policies and tried to assess fees just for keeping your money with them. Every time I went into a branch to complain, they reassured me that my account was grandfathered in and no fees would apply. One time, they showed me how to set up bill pay to avoid fees. And now I use PopMoney all the time. It's so easy to send money to people. I like Citi a lot.
Citi bank is a decent online banking experience. I opened a basic checking account with them and it took them about 2 weeks to send me my card and checkbook. Money that I transfer from other accounts is wired pretty quickly usually within 2 business days and is available for withdrawal. My account is easy to access and the mobile app is pretty efficient too. The mobile snapshot on the app is useful as well allowing me to see my balance without the hassle of logging in. So far I have used my account for both online and in store purchases with very little problems. I am overall very happy with this bank and will probably look into opening a savings account with them soon.
As an international traveller I am finding my experience with Citibank has been quite positive. I get monthly updates sent to my phone to let me know of my current balance, which is password protected and I also have access whenever I wish when I go online. Transferring funds between my other accounts to this one or using these accounts at Citibank to pay bills has been very user friendly and I have not had an issue to date where I can fault them. There online service is easy to understand and they have a good directory of services to help you should you have any issues that can't be dealt with at that given time. I would highly recommend them. And I am advised via text alert if there are any suspicious events occurring with my account which is always a bonus, especially being overseas on trips.
The worst bank ever! Your money is unsafe with this bank. When you have a hard time and ask this bank help, they will make your situation even harder, and they will try to cheat you if they could. So don’t have any deals with this bank even if it close to your house. If you are already a customer, leave this bank as soon as possible before you get in a hard time and this bank will take advantage of you! I had an account in this bank for more than a year and this is what I’ve experienced. Someone took about $300 from my account in Japan without my card, so don’t be impressed that this bank says that we have secure cards. The account security is so weak that hackers don’t need you, not your card for grub money from your account in this bank. And security system is so stupid that it can’t figure out that if I pay with this card a few hours before in Miami I can’t be already in Japan. And after I reported this fraud to the bank, they said that they will investigate this problem and if all is OK I’ll get refund within 10 business days. It sounds like this is my problem that Citibank gave my money someone in Japan! And I guess I’m lucky that they didn’t take all my money because it would be hard to be without money for 10 business days! And they try to cheat you if they can! For example I pay nothing for use my debit card if I make at least one registered transaction, otherwise, I have to pay $10. So I created an auto payment for my phone so I didn’t worry about this. But in several months I saw that I was charged $10 as monthly payment. I contacted bank through chat but they said this is because your money was sent later, so it wasn’t in my cycle period and refused to refund me my money! Like this is my problem that this bank sent it later though the money was available on my account. It was the auto payment, so bank sent it itself! And only after I called in bank did they refund me the money. And the worst thing from this bank is that if you have a problem getting your money and ask Citibank to help you with this, they will make your time harder. So my recommendation is to never have any deals with Citibank and if you already customer of Citibank leave it as soon as possible for you and your money safety!
|FDIC Certificate #||7213|
|Return on Assets - YTD||0.94%|
|Return on Equity - YTD||8.53%|
|Annual Interest Income||$35.14B|
|Assets and Liabilities|
|Assets||Q3 2016vs Q3 2015||$1,356.4B$1,337.8B|
|Loans||Q3 2016vs Q3 2015||$595.5B$575.6B|
|Deposits||Q3 2016vs Q3 2015||$947.8B$944.9B|
|Equity Capital||Q3 2016vs Q3 2015||$148.1B$146.8B|
|Loan Loss Allowance||Q3 2016vs Q3 2015||$10.78B$11.03B|
|Unbacked Noncurrent Loans||Q3 2016vs Q3 2015||$6.79B$6.17B|
|Real Estate Owned||Q3 2016vs Q3 2015||$86.0MM$130.0MM|
Rates for Citibank are currently being reviewed.