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 had a bank account with Citibank some time ago. During the time I had that account I had to do a very large insurance transaction that my local bank refused to deal with. Citibank handled my transaction with no questions asked at all. They accepted the large electronic deposit and allowed me to distribute the fund to where I needed to be with an unlimited withdrawal amount per day and an unlimited amount of transactions per day which is exactly what I needed to get done what I needed to get done. They were so much easier to deal with than my local bank and they were so much more accepting of my situation. Even though there wasn't a physical branch near me they made everything as easy as possible.
I am a professional who began looking at an international banking provider because I was sick of the international fees I was being charged when traveling. Since then, I have moved from Australia to the United States and furthered my relationship with Citibank to ease the cost of working in both countries simultaneously. I initially chose Citibank because of their customer service. Calling was simple - Yes, you can talk to a real person who is knowledgeable and considerate. Secondly, their website is easy to negotiate and simple to join. Their loans are diverse and reasonable. I didn't need to apply for any but I know they are there. Here is one big plus for this bank as opposed to many I have dealt with; they do not call you every second day trying to up sell their products. I am not a financial wizard and I want my bank to be honest, upfront, and not try to hide fees and sneak in new charges. I would recommend Citibank to anyone who has international needs and who want an institution that is easy to deal with but also has all the modern conveniences.
I've been banking with Citibank for almost ten years. I have both a checking and savings account with this bank. They are well known in the Midwest and I have been depositing money and using them for banking for many years. The younger years I didn't know any differently and it was easily to deposit my checks into the accounts and use my debit card. As I got older and moved to the East coast I realized that I couldn't find many if any branches and so it became very hard to deposit checks with them so I had to turn to direct deposit. I have lost a card before had to call their customer service and there was a rather long wait and it was a pain to report it lost. They needed me to send them a copy of a police report and it seemed like a lot of work, but besides that issue I have been happy with them as a bank.
I've been with Citibank for a few years now, primarily because it feels like such a total pain to switch to a new bank. I have had mostly positive experiences, but one area in which I think they could vastly improve is their mobile check deposit app. It's too much work to make sure the check fits within the defined parameters on the screen, and you wind up spending too much time fiddling with the placement on the screen in order for it to take a picture. You should just be able to take your own picture quickly, and then the app should be able to scale the check to its own parameters, rather than the other way around. It would just make mobile check depositing that much easier.
|FDIC Certificate #||7213|
|Return on Assets - YTD||0.08%|
|Return on Equity - YTD||0.75%|
|Annual Interest Income||$49.98B|
|Assets and Liabilities|
|Assets||Q4 2017vs Q4 2016||$1,385.7B$1,349.6B|
|Loans||Q4 2017vs Q4 2016||$625.8B$584.7B|
|Deposits||Q4 2017vs Q4 2016||$976.7B$945.7B|
|Equity Capital||Q4 2017vs Q4 2016||$142.3B$144.3B|
|Loan Loss Allowance||Q4 2017vs Q4 2016||$10.75B$10.47B|
|Unbacked Noncurrent Loans||Q4 2017vs Q4 2016||$5.73B$6.91B|
|Real Estate Owned||Q4 2017vs Q4 2016||$113.0MM$112.0MM|
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