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.
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3/14/06 - More $100 Sign-Up Bonuses for Citi Credit Cards
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1/25/06 - $100 Gift Card Citicard Deal
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Citibank great for handling large transactions.
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.
Lack of Customer Service
I banked with Citibank for approximately 5 years and recently had to switch to another institution. My main issue with Citibank was the lack of quality customer service and slow response time to problems that had arose. At the time I had direct deposit from my employer and there had been three months in a row that there was an issue releasing my funds from a pending status at my bank. Using the telephone customer service line was monotonous, time consuming, and fruitless experience. Not only did it take several minutes to speak with an actual human regarding my issues, the ones I was able to speak with were unsympathetic and not understanding the urgency of having paychecks held for days after they were supposed to be released. I had one particularly bad experience with a phone customer service representative that refused my requests to speak with a supervisor saying there was nothing that could be done but just waiting for my funds to release. After about three months of circling with customer service leading nowhere I decided to pull all my funds and transfer to another institution. I was so fed up I even canceled my citi credit card and opened one with my new banking institution.
Done with Traditional Banks
CitiBank was the last bank that I had before I switched over to Ally Bank. I feel that CitiBank just doesn't offer as much. I think like many of the other traditional and older banks, they think they just continue as is and not have to compete with new banks that offer innovating and exciting products. I had a checking and savings with CitiBank that I switched over. CitiBank didn't have competitive interest rates for its saving account. Now I get high interest rates on my savings AND checking account. CitiBank also did not reimburse me for ATM withdrawals at other banks besides CitiBank. Come on, its 2018, this should be offered by all banks. The web/mobile products also leave a lot to be desired in comparison to their competitors. The only thing I enjoyed when I used them was their customer service and abundance of physical locations.
Less Tempting Than It Looks Like
It looks amazing until it's informed that the rewards wont be applied in another 90 days after you meet all the requirements.
Unless you do nothing with the funds for a total of 5 month otherwise fees applied.
So in general, based on a minimum of $50000 that's required, you are having a 5 month CD at 2.88% apy. Not that fancy.
Data as of Q2 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 7213 |
| Year Established | 1812 |
| Employees | 165284 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.22% |
| Return on Equity - YTD | 11.8% |
| Annual Interest Income | $26.54B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $1,397.8B$1,401.3B |
| Loans | Q2 2018vs Q2 2017 | $630.4B$604.8B |
| Deposits | Q2 2018vs Q2 2017 | $1,003.2B$972.1B |
| Equity Capital | Q2 2018vs Q2 2017 | $147.6B$148.1B |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $10.47B$10.32B |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $4.95B$6.00B |
| Real Estate Owned | Q2 2018vs Q2 2017 | $77.0MM$120.0MM |
Always verify rates and promotions with the bank or credit union. We are not Citibank; 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.
Citibank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.15%*† | $500k* | - | Citi Savings Account - Citigold | ||
| OTHER TIERS: 0.04% → Up to $10k | 0.06% → $10k - $25k | 0.10% → $25k - $100k | 0.12% → $100k - $500k | |||||
| 0.15%*† | $500k* | - | Citi Savings Account- Citi Priority | ||
| OTHER TIERS: 0.04% → Up to $10k | 0.06% → $10k - $25k | 0.10% → $25k - $100k | 0.12% → $100k - $500k | |||||
| 0.13%*† | $500k* | - | Citibank Account Package | ||
| OTHER TIERS: 0.04% → Up to $25k | 0.08% → $25k - $100k | 0.10% → $100k - $500k | |||||
| 0.06%*† | $25k* | - | Basic Banking Package | ||
| OTHER TIERS: 0.04% → Up to $25k | |||||
| 0.06%*† | $25k* | - | Access Account Package | ||
| OTHER TIERS: 0.04% → Up to $25k | |||||
Citibank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.03%† | - | - | Citigold Interest Checking | |
| 0.03%† | - | - | Interest Checking- Citi Priority | |
| 0.01%† | - | - | Interest Checking Account |
