How To Avoid Citibank Monthly Maintenance Fees

Paying Citibank savings and checking account fees? Save instead.

Citibank, one of the biggest banks in America, offers its customers a full array of banking products and services, including banking accounts and credit cards. Many banks charge their account holders fees to take care of overhead costs. These monthly fees can range from overdraft penalties to ATM incursions and more.

However, many banks offer their customers ways to circumvent these fees, and Citibank is no different. These Citibank monthly maintenance fees can be avoided using strategies such as maintaining a designated monthly balance.

Here’s a preview of what you’ll find in this guide to avoiding Citibank monthly maintenance fees:

What Are Citibank Checking Account Fees?

Citibank monthly checking account fees are $10 to $30, depending on the package. Citibank offers customers five packages through which they can open a checking account. These packages cover banking needs from wealth management (through its Citigold package) or general personal checking accounts (through its Basic Banking or Access Account packages).

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Citibank Checking Accounts
Account Monthly Service Fee Earns Interest
Citigold N/A Yes
Citi Priority $30 Yes
The Citibank Account $25 Yes
Basic Banking $12 No
Access Account $10 No
Information accurate as of Jan. 14, 2020.

Learn: How To Find and Use Your Citibank Login

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As you can see, not all the accounts require a monthly service fee, and not all of them earn interest. One characteristic all the accounts share is that you do not need to make a deposit to open the account. But what about fees?

Citibank Checking Account Fees
Fee Amount Charged
Out-of-network ATM fee $2.50 in the U.S.; $5 for withdrawals under $1,000 outside of the U.S.
Overdraft $34
Foreign exchange rate 3% of transaction
Wire transfers $15-$45
Information accurate as of Jan. 14, 2020.

Some of these fees, and other fees not listed, may be waived, depending on the account package you have. For example, the Citi Priority Account package waives non-Citibank ATM fees for its customers.

Find Out: How Much Is Citibank Worth?

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What Are Citibank Savings Account Fees?

Citibank monthly savings account fees are $4.50 for basic accounts but can be as high as $25, or waived entirely. Like Citibank’s checking accounts, Citibank savings accounts offerings are spread across five different packages, which customers can choose from based on their savings goals and needs. Each Citibank savings package comes with an interest rate.

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Citibank Savings Accounts
Account Monthly Service Fee APY 
Citigold N/A 0.04%
Citi Priority N/A 0.04%
The Citibank Account $25 0.04%
Basic Banking $4.50 0.04%
Access Account $4.50 0.04%
Information accurate as of Jan. 6, 2020.

Citigold and Citi Priority account holders do not need to worry about a monthly service fee. However, all accounts offer a lower-than-average annual yield percentage, which is 0.09% APY, according to the Federal Deposit Insurance Corporation.

Check Out: Best Online Banks of 2020

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How To Avoid Citibank Monthly Maintenance Fees

Most Citibank account packages allow customers to waive monthly maintenance fees through balance minimums or qualifying deposits and payments. Here’s a breakdown of how to avoid fees for each package:

  • Citigold
    • No monthly fees with your Citigold account package.
  • Citi Priority
    • Your average monthly balance from your checking or savings account must be greater than $50,000. This figure can be reached through a combination of eligible linked retirement and investment accounts.
  • The Citibank Account
    • Your average monthly balance from your checking or savings account must be greater than $10,000. A combination of eligible linked retirement and investment accounts can help you reach this figure.
  • Basic Banking
    • Make one qualifying direct deposit and bill payment per statement period.
    • Your average monthly balance from your checking or savings account must be greater than $1,500, which can be reached via a combination of eligible linked retirement and investment accounts.
    • The monthly service fee is waived for customers aged 62 years and older.
    • For a Basic Banking savings account, maintain a monthly balance of $500 or more.
  • Access Account
    • Make one qualifying direct deposit and bill payment per statement period.
    • Your average monthly balance from your checking or savings account must be greater than $1,500, which you can reach through a combination of eligible linked retirement and investment accounts.
    • For an Access Account savings account, maintain a monthly balance of $500 or more.

Find Out: Here’s Your Citibank Routing Number

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How To Avoid Citibank Overdraft Fees

The best way to avoid Citibank’s overdraft fees is to not overdraft. It sounds simple, but it can be complicated if your account is linked to several auto payments that require vigilance on your part. Citibank’s overdraft fee is $34, which is close to or the same as what other banks charge.

Luckily, Citibank offers its customers two forms of overdraft protection, but you’ll pay a $10 fee for the convenience.

  • Checking Plus: This plan acts as a revolving line of credit if you overdraw or a cashed check exceeds your funds. The $10 fee applies once you transfer funds over to your account to cover the overdraft.
  • Savings Plus: Citi will transfer funds from your linked savings account to cover an overdraft. The $10 fee applies each day Citi covers the overdraft.

Review: Citibank CD Rates

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How To Avoid Citibank ATM Fees

Citibank’s ATM fees for both international and domestic ATM use is $2.50, which is worth noting since some banks charge $5 for ATMs used outside the U.S. The easiest way to avoid ATM is to use Citibank ATMs whenever possible. You can locate the nearest Citibank ATM on Citibank’s website or on the Citibank app. ATMs found in Costco, CVS and Target are usually safe bets.

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Citibank will waive some ATM fees, depending on the package you select. There are no ATM fees for Citibank Priority Package accounts, and The Citibank Account package waives the fee if your balance is more than $10,000.

See: Best National Banks of 2020

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How Citibank’s Account Fees Compare With Other Banks

Citibank carries most of the same fees as other banks. To see how Citibank measures up, review the table below.

Fees at Citibank and Other Banks
Fee Wells Fargo Chase Bank of America Citibank U.S. Bank
Monthly maintenance Up to $30 Up to $25 Up to $25 Up to $30 Up to $25
Out-of-network ATM withdrawal In U.S.: $2.50

Outside U.S.: $5

In U.S.: $2.50

Outside U.S.: $5

In U.S.: $2.50

Outside U.S.: $5

In U.S.: $2.50

Outside U.S.: $5

$2.50
Overdraft (nonsufficient funds) $35 $34 $35 $34 $36
Excess transactions $15 $5 $10 No fee* $15
Wire transfer $15-$30 $5-$50 Varies $15-$45 $20-$50
International debit purchase 3% of transaction 3% of transaction 3% of transaction 3% of transaction 3% of transaction
*While there is no fee, Citibank has the right to close your account if you withdraw three times over the limit. Editor’s note: Information is accurate as of Jan. 14, 2020. Fees listed reflect amounts typically charged; exceptions may apply. 

Citibank’s fees are mostly aligned with that of other major banks. But, unlike other banks, Citibank doesn’t charge fees when it comes to excess transactions. Instead, the bank simply closes your account.

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Related: Citibank Review: One-Stop Banking

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Getting the Most out of Your Citibank Bank Account

The Citibank account that’s right for you depends on your financial needs. Of course, you want to make sure you’ll save on fees, but here are some other questions to ask yourself when choosing an account:

  • Is it for personal or business needs?
  • How much money am I spending per month?
  • How much do I want to save?
  • Do I want an interest-bearing account?
  • Will this account benefit me over time?
  • Can I take advantage of this account’s features, such as waivers?

If you take the time to think about what you want — and need — from an account before you sign up, you’ll have a better chance of getting a banking product you’ll be satisfied with for years to come.

Click through to find out more about the best bank account promotions.

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More on Citibank

More on Avoiding Monthly Fees

Rates are updated periodically and subject to change. All other information on accounts is accurate as of Jan. 14, 2020.

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About the Author

Sean Dennison

Sean joined the GOBankingRates team in 2018, bringing with him several years of experience with both military and collegiate writing and editing experience. Sean’s first foray into writing happened when he enlisted in the Marines, with the occupational specialty of combat correspondent. He covered military affairs both in garrison and internationally when he deployed to Afghanistan. After finishing his enlistment, he completed his BA in English at UC Berkeley, eventually moving to Southern California.

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