Citibank is one of the biggest banks in the world, but that doesn’t mean customer service or personalized attention are compromised at any of their 694 North American branches. The American Customer Satisfaction Index Finance and Insurance report ranked Citibank as the No. 1 U.S. national bank for customer satisfaction. Citibank’s investments in product offerings, digital enhancements and competitive rates contributed to its ranking.
The bank offers a wide range of financial services including a variety of bank accounts designed to meet the needs of every customer. Take a look at Citibank’s checking accounts, so you can get answers to your questions and decide whether to open a checking account with Citi.
Citibank Checking Account Review
New or existing Citi customers can apply for a checking account in person at a Citibank branch, on the Citi website or by phone. Five types of banking packages are available depending on the total monthly balance in your checking account and any other linked deposit accounts. All Citibank checking account holders have the following benefits:
- No minimum opening deposit: Customers can open a checking account with no minimum deposit.
- Citi Private Pass: Enables Citi debit card holders and Citibank Visa, Mastercard and American Express credit card holders have special access to entertainment events and dining perks.
- Mobile banking: Deposit checks with your smartphone, set up balance and payment alerts and manage your account through the Citibank app.
- Person-to-person payment services: Pay friends easily and quickly using your smartphone.
- Online and mobile fraud protection: Feel safe knowing all deposit accounts are covered by this free service when you use Citibank’s internet banking.
- Access to thousands of ATMs: Access cash for free at over 2,400 Citibank branded ATMs or participating MoneyPass ATMs nationwide.
Monthly checking account fees range from $0 to $30. To avoid these fees, certain requirements must be met depending on the type of account.
Related: Citi Simplicity Card Review
5 Citi Banking Packages
Associated fees, interest rates and balance requirements vary depending on the amount of money you have in the bank. Understanding how to avoid fees and earn interest can pay off in the long run. Here’s a breakdown of the five types of Citi banking packages to help you find the best checking account to meet your financial needs.
1. Affordable Access Banking
The checkless Access Account is the most basic checking account offered for customers who keep less than $10,000 in the bank. The $10 monthly service fee is waived if you maintain a minimum average balance of $1,500 across any deposit accounts or have one qualifying direct deposit or one qualifying bill payment per statement period. Although you will have access to all of the products and services that Citi offers, you will not earn interest on your checking account or have overdraft protection.
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2. Simple Checking
This account builds on the Access Account benefits by offering unlimited check writing but with an increased monthly fee of $12. To waive that fee, you’ll need to make one qualifying direct deposit and one qualifying bill payment per statement or maintain a minimum average balance of $1,500. Fees are waived for account holders 62 or older.
3. Full-Feature Relationship Checking
To qualify for no monthly service fees and no ATM fees at non-Citibank ATMs, you’ll need to maintain a monthly average balance of $10,000 or more. Additional benefits include earning Citi ThankYou Rewards points on eligible purchases and a free book of paper checks. Plus, you’ll have the ability to earn higher interest rates on Citibank savings and money market accounts.
4. Citi Priority
Adding to the benefits offered above, Citi Priority holders qualify for additional perks like free access to Citi Personal Wealth Management investment accounts and the ability to earn a higher level of Citi ThankYou Rewards points. The hefty monthly fee of $30 is waived if your linked eligible accounts average at least $50,000 per month. In addition, Citi Priority customers earn 0.01% APY* on their checking account balance of $50,000 or more and qualify for premium Citibank CD rates.
The top-tier Citigold package is for customers who have substantial cash in the bank, maintain a minimum monthly balance of at least $200,000. Members are assigned a personal relationship manager, a financial advisor and earn 0.01% APY* on checking account balances of $50,000 and above.
Monthly fees are waived for Citigold customers including ATM fees, paper checks and wire transfers, and ability to earn ThankYou Rewards points increases to the highest level available. In addition to banking services, customers have access to Citigold Concierge, a high-end lifestyle service, free of charge.
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Citibank Products and Services
When you prefer to bank with one financial institution, Citi offers a vast number of personal and business banking services to meet all of your banking needs. Once you’ve opened a checking account, you can link other Citi accounts, such as a Citibank savings account or even a Citibank mortgage account.
* APY rates are current as of Jan. 30, 2018.