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.
This is the best bank I've ever worked with hands down. Other banks I've dealt with have been beyond terrible (looking at you Wells Fargo). The customer service is always trying to help me and the bank gives me the tools to make my life easier with their website and mobile app. I couldn't recommend this bank enough. Opening a savings and checking account has never been so easy and painless. Depositing money and withdrawing is also a very easy and fast process.
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.
Overall, my experience with Citibank has been overwhelmingly positive. I have banked with them since I was 18 years old, which was 12 years ago. As technology has improved, Citibank has been quick to adapt. I was among the first in the United States to receive a secure debit card with a chip in it. Citibank was also one of the first to offer free mobile deposits for checking. Depositing checks on mobile devices is very quick, as it often posts the same day if I complete it in the morning. The wait time to get a hold of someone on the phone is usually very short. My only complaint about Citi is the cost of the checks. I go to a 3rd party vendor to save money on my checking costs. I do enjoy that the branch has hours on Saturday as most banks in my area do not.
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.
|FDIC Certificate #||7213|
|Return on Assets - YTD||0.97%|
|Return on Equity - YTD||9.08%|
|Annual Interest Income||$11.97B|
|Assets and Liabilities|
|Assets||Q1 2017vs Q1 2016||$1,369.3B$1,342.6B|
|Loans||Q1 2017vs Q1 2016||$585.4B$575.4B|
|Deposits||Q1 2017vs Q1 2016||$964.4B$947.4B|
|Equity Capital||Q1 2017vs Q1 2016||$147.2B$147.5B|
|Loan Loss Allowance||Q1 2017vs Q1 2016||$10.43B$10.90B|
|Unbacked Noncurrent Loans||Q1 2017vs Q1 2016||$6.38B$6.65B|
|Real Estate Owned||Q1 2017vs Q1 2016||$119.0MM$115.0MM|
Rates for Citibank are currently being reviewed.