Citi

Overview / Commentary

online.citi.com

800-374-9700

5800 S Corporate Place
Sioux Falls, SD 57108

Citibank serves clients across the full spectrum of consumer banking needs. Citibank serves as a trusted advisor to its retail, wealth management and small business clients at every stage of their financial journey.

Business Account: Up To $2,000 For Up To $200K For 60 Days - 8/18/2020

The main take away hear is that this is about the only bank looking for new money. I received this in a mailing: My quick read of the requirements is up to $2,000 for up to $200,000 of new money in a new business checking account for 60 days. Bonus paid 90 to 120 days (depending on timing) after the 60 days. Account must be active until bonus is paid. Unclear of the definition of "active account". Don't think account can be opened online. Only by talking to a "Business Specialist"..

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

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8/18 - Business Account: Up To $2,000 For Up To $200K For 60 Days
4/13 - Citibank Unresponsive
1/30 - Citi - Offers Cash Bonus For New Checking/Savings Accounts

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

12/11 - Earn Up To $600 When Opening A Checking And Savings Acct.
6/6 - Citibank’s New Attempt at a High Yield Online Savings Account
5/14 - Review of the Latest Citibank Checking Bonus Offers - Up to $600
4/17 - Citi Offering A 2% APY 13 Mo CD, $25K Minimum
4/6 - New 1.35% APY 3 Mo Savings Acct Promo
1/25 - Florida Citibank 30 Mo CD Special Is 1.51% APY, $10K Min

Reviews (160)

Banking with Citi as a student was simple

Posted by: Canesti | May 23, 2018

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.

Comment

Citi Bank W9 Form Submitting Process

Posted by: Hiyeld | Oct 26, 2019

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.

Comment

Beware Transfer Limits On Savings Accounts

Posted by: Roadking765 | Aug 3, 2020

Opened Accelerate Savings account to take advantage of better rate. Citi doesn't make you aware of a policy that is not readily apparent that limits your transfers out of the account to $10,000 on a daily basis and $15,000 in a 30 day period. If your going to fund this account with a small savings balance that is no problem...but if you want to fund a larger amount your money is tied up and it may take a very long time to reduce your balance (short of closing the entire account and waiting for your money). Also, signing up was more laborious than any other bank I've ever dealt with. Make sure to unfreeze your credit report if it's frozen or you will get immediate denial of an account.
Lastly, the customer service is in generally slow via phone or chat.
Bottom line, strongly discourage you from opening an account with Citi for anything but their credit cards...I have their Costco Visa card and am OK with their web site for that card. Better to look at Marcus, Synchrony, or Ally

Comment

Locked My Account!!!

Posted by: atl4567 | 15 hours ago

They locked my account for "review". Never specified what the review! I've spent over 10 hours on the phone for the past 3 days trying to unlock my account! I would NOT do business with Citi. As soon as my account is unlocked, I will be moving my money OUT! I've already filed a complaint with the CFPB. Stay away from Citi!!! Horrible customer experience!!!

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Health

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	7213
Year Established	1812
Employees	162873
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	0.29%
Return on Equity - YTD	2.96%
Annual Interest Income	$25.79B

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$1,633.7B$1,459.6B
Loans	Q2 2020vs Q2 2019	$634.9B$643.8B
Deposits	Q2 2020vs Q2 2019	$1,244.4B$1,069.5B
Equity Capital	Q2 2020vs Q2 2019	$153.3B$150.3B
Loan Loss Allowance	Q2 2020vs Q2 2019	$23.64B$10.75B
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$6.95B$4.84B
Real Estate Owned	Q2 2020vs Q2 2019	$36.0MM$71.0MM

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

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.70%^†	-	-	Citi Accelerate Savings

Citi Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.40%^*^†	$25k^*	-	Interest Checking - Citi Elevate
OTHER TIERS: 0.10% → Up to $10k \| 0.20% → $10k - $25k
0.03%^†	-	-	Interest Checking - Citigold
0.03%^†	$50k	-	Checking Account
0.01%^†	-	-	Interest Checking Account

Citi CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.25%^†	$1k	-	4 Month CD
0.20%^†	$1k	-	3 Month CD
0.20%^†	$1k	-	1 Year CD
0.20%^†	$1k	-	5 Year CD
0.17%^†	$500	-	30 Month Step Up CD
0.15%^†	$1k	-	18 Month CD
0.15%^†	$1k	-	2 Year CD
0.15%^†	$1k	-	3 Year CD
0.15%^†	$1k	-	4 Year CD
0.15%^†	$500	-	12 Month No Penalty 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
0.05%^†	$1k	-	5 Month CD