Citibank, or Citi, operates in more than 160 countries and services over 200 million customer accounts. In the U.S., Citibank has a large network of ATMs and branches in several major cities and offers a range of personal banking products.
We at the MarketWatch Guides team have researched Citi’s checking and savings accounts and certificates of deposit (CDs) to see how its services and rates compare to other banks’ offerings. In this Citibank review, we also look into its track record with customers and the industry so you can decide if it’s the best choice for your financial needs.
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Citibank Rating
We give Citibank 4.2 out of 5 stars overall. It earns points because of its solid customer service support options and its well-liked mobile app. It loses points because of its relatively small number of branches and its limited product offerings (it doesn’t offer a money market account).
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Citibank
*Ratings are determined by our editorial review team. Learn more about our scoring methodology. Our review team reached out to Citibank regarding its CD rating but did not receive a response.
Citibank vs. Other Top Banks
We rate Citibank higher than any of its nearest competitors, for no fees and the largest network of ATMs of the group. Still, it has a much smaller physical presence than its competitors and different products, so it pays to look at each bank’s offerings individually.
Citibank | Wells Fargo | Chase | Bank of America | |
|---|---|---|---|---|
| Our rating | 4.2 | 3.8 | 4 | 4 |
| Number of branch locations | 650 | 4,600 | 4,700 | 3,900 |
| Number of ATM locations | Access to more than 65,000 fee-free ATMs included in the MoneyPass and Allpoint ATM networks | 12,000 | 16,000 | 15,000 |
| Available deposit products | Checking, savings, CDs | Checking, savings, CDs | Checking, savings, CDs | Checking, savings, CDs |
| No-fee checking account option?* | Yes | Yes | Yes | Yes |
>> Related: Learn more about the best online banks
Citibank Accounts
Citibank offers many personal banking products, including the following:
- Checking accounts
- Savings accounts
- CDs
- Personal loans
- Mortgages and refinancing
- Credit cards
- Self-directed or automated investing
- Wealth management
There are more than 65,000 ATMs available to Citi customers at no charge, and it’s the largest bank in the U.S. to get rid of overdraft fees. Citi also has small-business banking products, including checking and savings accounts.
| Citibank Account | Standard APY* | Relationship APY* | Minimum Opening Deposit |
|---|---|---|---|
| Access Checking | N/A | N/A | $0 |
| Regular Checking | N/A | N/A | $0 |
| Citi Savings | 0.03% | 0.07% to 0.25% | $0 |
| Citi Accelerate Savings | 4.00% | N/A | $0 |
| Fixed-rate CD | 0.05% to 4.10% | N/A | $500 |
| No-penalty CD | 0.05% | N/A | $500 |
| Step-up CD | 0.10% composite APY | N/A | $500 |
Relationship-Tier Benefits
Your experience with the bank, including fees and rates, could vary depending on the combined balance of your Citi deposit and investment accounts. This is where Citi’s relationship tiers come into play.
Everyday Benefits is the standard level for all customers and has no minimum balance requirements. Beyond Everyday Benefits, Citibank has three relationship tiers with varying balance requirements:
If your combined average monthly balance grows or decreases in three consecutive months, you’ll automatically be moved to the next higher or lower tier, respectively. One major perk of qualifying for a relationship tier is that you get higher APYs on Citi Savings accounts.
If you qualify for relationship-tier benefits, you’ll receive the following benefits:
City Priority
If your average monthly balances across your Citi accounts are $30,000 to $199,999.99, then your monthly service fees, out-of-network ATM fees and foreign exchange fees will be waived. You’ll also get free standard checkbooks, discounts on mortgage interest rates or closing costs and rate discounts on personal loans.
Citigold
With average monthly balances of $200,000 to $999,999.99 across Citi accounts, you get all Citi Priority benefits, plus unlimited reimbursements on fees charged by non-Citi ATMs and up to $200 in annual subscription rebates for services such as Hulu, Costco, Spotify Premium and TSA PreCheck.
This tier also includes Citigold Concierge for booking travel, reservations and tickets and the Citigold Culture Pass for free and discounted tickets to museums and performing-arts institutions in New York, Chicago, Los Angeles and San Francisco.
Citigold Private Client
With combined balances of $1 million or more, you get all Citi Priority and Citigold benefits, except for a rate discount on personal loans. You also get free non-standard checks, premium travel benefits and an additional $200 in annual subscription rebates (for a total of $400).
The listings that appear are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Not all companies, products or offers were reviewed in connection with this listing.
Citibank Checking Accounts
Citibank Savings Accounts
Best Large Bank Savings Account
Citibank Certificates of Deposit
>> Related: Learn more about the best high-yield savings accounts
Citibank Customer Experience
We rate Citi 4.1 out of 5 stars in our review’s banking experience and access category, which considers factors such as industry and customer reviews, as well as customer service. Citibank received 4 out of 5 stars from Bauer Financial, a research firm that rates banks and credit unions. Citi’s mobile app has an average of 4.9 out of 5 stars on the App Store based on 3.9 million reviews. On Google Play, Citi has received over 1.1 million reviews, with 4.7 out of 5 stars on average.
However, Citibank is rated F by the Better Business Bureau (BBB) and isn’t accredited by the organization. In the J.D. Power 2023 U.S. National Banking Satisfaction Study, Citibank scored four points below the industry average, ranking behind Capital One, Chase, TD Bank, U.S. Bank and PNC.
Citibank has made efforts to improve the customer experience. In 2023, Citi enhanced its Family Linking feature, which allows people living in the same household to combine their investment and deposit totals so they can qualify for higher relationship tiers without having joint accounts.
Citi replaced its five account package options with the relationship-tier system, which it describes as a simplified program with better benefits. It also abolished fees for overdrafts, insufficient funds and returned items, which can help customers keep more of their savings.
Citibank has also been the subject of controversies. In one example, the federal Office of the Comptroller of the Currency fined the bank $400 million in 2020 for its practices related to risk management and the handling of data.
Our review team reached out to Citibank for comment on its industry ratings, checking and savings accounts and fines from federal agencies but did not receive a response at the time of publication.
Wells Fargo has a larger physical presence than Citi, with 4,600 branches to Citi’s 650. But Citibank has a much larger ATM network of 65,000 while Wells offers just 11,000. Wells Fargo offers four checking accounts to Citi’s two but charges monthly account fees of up to $35 compared to Citi’s fees of up to $15.
The rate for Citi’s HYSA beats those for Wells Fargo’s Platinum Savings account, but Citi offers its HYSA in limited locations. The rates for Citi Savings are also higher than the rate for Wells Fargo’s Way2Save account.
Citi offers more CDs online than Wells Fargo, but they have similar rates. However, Citi has a lower minimum opening deposit for CDs — $500 — while Wells Fargo requires $2,500 or $5,000.
Chase is the largest bank in the country and has many more brick-and-mortar locations than Citi: 4,700 branches in 48 states. Still, Citibank has about four times as many ATMs, meaning there’s a much smaller chance you’ll pay an out-of-network ATM fee.
Citi’s regular savings rates are several times higher than Chase’s lackluster savings APYs, but its HYSA really wins if you live in an area where it’s offered.
Chase and Citi have similar fees and fee waivers on their regular checking accounts, although Chase offers eight accounts while Citi only offers two. Citibank’s CD offerings are slightly better than Chase’s because they have a lower minimum deposit ($500 versus $1,000) and their rates generally beat Chase’s.
Bank of America has over 3,900 branches, a much larger brick-and-mortar presence than Citi. But Citi once again comes out on top with its much larger ATM network (Bank of America has a network of 15,000).
Citibank’s checking accounts are slightly better than Bank of America’s. While both have monthly fees that can be waived, Citibank’s accounts have no minimum opening deposit, and Bank of America requires $100 to open an account.
Citi’s monthly savings account fee of $4.50 is lower than Bank of America’s $8, and Citi offers a slightly higher APY on its regular savings account. Citi’s CD rates are much higher than Bank of America’s, and it only requires a minimum deposit of $500 to Bank of America’s $1,000 to open a CD.
About Citibank
Citibank is the retail banking subsidiary of Citigroup, which has roots stretching back to 1812, including its role in financing the War of 1812. Though it nearly collapsed during the 2008 financial crisis due to poor risk management, it remains a massive player in the banking sector. Citibank is the fourth largest bank in the country, with more than $1.6 trillion of consolidated assets, according to the Federal Reserve.
>> Related: Learn more about the largest banks in the United States
The Bottom Line: Is Citibank Right for You?
Citibank has some areas it could improve, such as offering its HYSA in more locations. Due to account maintenance fees, it may not be a good banking option for people with low balances or irregular income.
However, Citi offers significant perks for higher-net-worth customers, including reimbursed fees for using out-of-network ATMs and no foreign transaction fees. Additionally, customers who receive qualifying direct deposits don’t pay account maintenance fees or fees from Citi for using other ATMs.
FAQ: Citibank Reviews
Citibank can be a good bank for customers with higher deposits, since its relationship tiers offer more benefits and lower fees. It can also be a good option for people who live in the 41 states where the bank’s HYSA, Accelerate Savings, is available.
Citibank has an expansive free ATM network, as well as numerous benefits for people with high account balances. However, its high-yield savings account isn’t available in nine states or Washington, D.C., and you must meet certain requirements to have monthly service fees waived on checking and savings accounts.
Citibank may be better than Chase when it comes to fees, but Chase has better access for in-person banking. Citibank has no overdraft fees or insufficient funds fees, unlike Chase. However, Chase has over seven times as many branch locations, along with higher ratings from the BBB and J.D. Power.
Methodology
Our team researched more than 100 of the country’s largest and most prominent financial institutions, collecting information on each provider’s account options, fees, rates, terms and customer experience. We then scored each firm based on the data points and metrics that matter most to potential customers. Read our full methodology.
The best scores go to banks, loans and fintech companies with high interest rates and low or no fees or minimum opening deposits.
High marks are given to those with multiple accounts and minimal fees, plus benefits such as reward programs and mobile check deposit.
Top-rated financial institutions have low or no minimum opening deposits, as well as a variety of term options and specialty CDs for flexibility.
Providers that excel in this category have large branch and ATM networks and multiple checking and savings accounts, and they earn more points for offering CDs and money market accounts.
*Data accurate at time of publication
Editor’s Note: Before making significant financial decisions, consider reviewing your options with someone you trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.
Editor’s Note: Parts of this story were auto-populated using data from Curinos, a research firm that collects data from more than 3,600 banks and credit unions. For more details on how we compile daily rate data, check out our methodology here.
