Citibank Review 2024 (2024)

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The information for the following product(s) has been collected independently by Business Insider: Citi Strata Premier℠ Card, Costco Anywhere Visa® Business Card by Citi, CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard®. The details for these products have not been reviewed or provided by the issuer.

The bottom line: Citibank (Member FDIC) could be a good option if you live in one of the 42 states that offers Citi® Accelerate Savings because it pays a high interest rate. Citi is also notably featured in our guides for best low credit score mortgage lenders and best credit cards.

Citi Review: Overall Rating

Citi Pros and Cons

About Citi

Citi Branch Accessibility

Citibank (Member FDIC) is a national bank with over 650 branches sprinkled around the U.S., including California, Connecticut, Florida, Illinois, Maryland, Nevada, New Jersey, New York, South Dakota, Virginia, and Washington, DC. You'll also have access to over 65,000 fee-free ATMs nationwide, plus free ATMs all over the world.

What You Need to Know About Citi Banking

Some of Citi's accounts depend on where you live. For example, the high-yield Citi® Accelerate Savings is only available for residents of certain states.

Citi also has a new system called Relationship Tiers. If you maintain a certain account balance, you'll be eligible for Citi Priority, Citigold® Checking Account, or Citigold® Private Client Checking Account, which have more benefits and services. For example, these accounts do not have ATM fees, money order fees, or official check fees.

Your Citi accounts are FDIC-insured for up to $250,000, or $500,000 for joint accounts.

Citi Digital Experience and App Usability

With the Citi mobile app, you can open checking and savings accounts, view your transaction history, make mobile check deposits, use Zelle, initiate online bill payments, and find ATMs. If you have a Citi credit card, you'll also get to check your FICO credit score for free.

The bank's online banking offers similar services. You'll be able to open bank accounts, view online bank statements, find Citi locations, and use online bill pay.

Citi's mobile app experience may not stack up to other big banks, though. According to a J.D. Power 2023 U.S. Online Banking Satisfaction Study, Citi ranked lower in banking mobile app satisfaction than the study average. For online banking satisfaction, Citi performed better, receiving 6 points above the study average.

The bank's mobile app is rated 4.9 out of 5 stars in the Apple store and 4.7 stars out of 5 stars in the Google Play store.

Citi Customer Support Availability

Citi's customer service is available 24/7 over the phone, which is more convenient than other banks. Some financial institutions only offer customer support from 9 a.m. to 5 p.m. on weekdays and limited support on weekends.

You can also chat online with a Citi customer representative from 6 a.m. to 10 p.m. ET.

Is Citi Trustworthy?

The Better Business Bureau gives Citi an F rating because it's received a high volume of customer complaints on the BBB website and it has failed to respond to many customer complaints.

In November 2023, the Consumer Financial Protection Bureau claimed Citibank intentionally discriminated against Armenian-American credit card applicants. The CFPB ordered the bank to pay $25.9 million in fees and to applicants who were impacted.

Citi Fees, Rates, and Financial Benefits

Understanding Citi's Fee Structure

Citi's fee structure is complicated. Your fees will depend on which bank accounts you have and whether you qualify for Relationship Tiers.

With the bank's standard checking accounts, you'll need to be mindful of monthly service fees, non-Citi ATM fees, money order fees, official check fees, and stop payment request fees.

If you have Citi Priority, the Citigold® Checking Account, the Citigold® Checking Account with a savings account, it'll be easier to waive common bank fees. For example, you'll be able to waive ATM fees, money order fees, and official check fees. However, you'll need to meet minimum balance requirements to get these accounts.

One fee that you won't have to worry about at Citi is overdraft fees. The bank eliminated overdraft fees, returned item fees, and overdraft protection fees on bank accounts in 2022. For that reason, Citi is one of the best banks for avoiding overdrafts.

Citi Savings and CD Rates and How They Compare

Citi® Accelerate Savings rates are comparable to high-yield savings accounts at the best online banks, and a good option if you can waive the monthly service fee. You aren't eligible for this account if you live California, Connecticut, select parts of Florida, select parts of Illinois, Maryland, Nevada, New Jersey, New York, Virginia, or Washington, DC.

People who aren't eligible for Citi® Accelerate Savings, have to get Citi® Savings. The Citi® Savings rate depends on your Relationship Tier. Regardless of which tier you're in, the Citi® Savings rate is lower than the average savings account rate. You'll want to choose a different bank to obtain a high savings rate.

Citi FAQs

Citi Personal Bank Account Review

Citi Access Checking

Citi Regular Checking

Citi Priority

Citigold® Checking Account

Citigold® Private Client Checking Account

Citi offers two standard checking accounts: Citi Access Checking and Citi Regular Checking.

If you'd like to get a premium checking account, the bank also offers relationship tiers: Citi Priority, Citigold® Checking Account, and the Citigold® Private Client Checking Account.

To qualify for relationship tiers, you'll need to maintain a high combined average monthly balance across linked bank accounts, retirement accounts, and investment accounts: $30,000 to $199,999.99 for City Priority, $200,00 to $999,999.99 for Citigold, or $1 million or more Citigold Private Client.

Citi® Accelerate Savings

Citi® Savings

Citi has two types of accounts: Citi Savings and Citi® Accelerate Savings.

Citi® Accelerate Savings is a high-yield savings account that pays a competitive rate, and it's clearly superior to Citi Savings — but you can only open an account if you're a resident of certain markets.

Read Business Insider's Citi Savings Rates Review.

Citi Fixed Rate CD

Citi No Penalty CD

Citi Step Up CD

Citi offers three types of CDs: Citi Fixed Rate CDs, Citi Step Up CDs, and Citi No Penalty CDs.

While the bank's abundance of checking and savings account options can be staggering, its CD options are easier to follow. Step Up CDs allow you to earn a higher interest rate at a specified date, while no-penalty CDs do not charge you early withdrawal penalties if you take out money from your account before the term ends.

If you're searching for a competitive interest rate, a 1-year or 18-month Citi Fixed Rate CD might be worth considering.

See Business Insider's Citi CD review.

Citi Personal Credit Card Review

Citi has a variety of credit cards, including travel credit cards, balance transfer credit cards, cash-back credit cards, and credit cards with 0% APR.

Our best Citi credit cards guide highlights the best options depending on what you're looking for. The Citi Strata Premier℠ Card is our top Citi credit card for 2024.

• Citi Custom Cash Card Review
• Citi Diamond Preferred Card Review
• Citi Premier Card Review
• Citi Double Cash Card Review
• Citi Simplicity Card Review
• Citi Rewards+ Card Review
• Costco Anywhere Visa Card by Citi Review
• Citi AAdvantage Platinum Select Card Review
• Citi AAdvantage MileUp Card Review
• Citi Advantage Executive Card Review

Citi Business Credit Card Review

If you have a small business, Citi has two types of credit cards. The Costco Anywhere Visa® Business Card by Citi is exclusively for Costco customers, while the CitiBusiness® / AAdvantage® Platinum Select® World Elite Mastercard® may be worth exploring if you frequently fly with American Airlines.

• Costco Anywhere Visa Business Card by Citi Review
• CitiBusiness AAdvantage Platinum Select Mastercard Review

Citi Personal Loan Review

Citi Personal Loans may be worthwhile if you already bank with the company. To be eligible for a personal loan at Citi meet Citi's creditworthiness criteria.

See Business Insider's Citi Personal Loans Review.

Citi Mortgages Review

Citi offers several types of home loans, including conforming, jumbo, FHA, VA and HomeRun mortgages. The HomeRun mortgage could be a good choice if you're looking for an affordable mortgage option. Through the HomeRun mortgage program, customers may make a down payment as low as 3% with no mortgage insurance requirement.

See Business Insider's Citi Mortgage Review.

How Citi Compares

We've compared Citi to three other national banks: Bank of America, Chase, and Wells Fargo.

Citi vs. Bank of America

Bank of America is a good choice if you want a larger branch network, because it has locations in 37 U.S. states and Washington, DC. You also might prefer Bank of America for a simpler banking experience, since Citi has more a more complex fee structure.

But Citi has a much larger free ATM network, including ATMs in other countries.

You'll probably prefer Citi if you're eligible to open the Citi® Accelerate Savings account, because you'll earn a much higher savings rate than you could with Bank of America savings accounts. As for CDs, the best CD rate between the two banks will depend on which term you choose.

Bank of America Review

Citi vs. Chase

Chase is another great option if you want a large branch network within the U.S. It has branches in every state except Alaska and Hawaii.

Chase and Citi are both known for offering several checking accounts. The best fit could come down to what you want out of a checking account and whether you can waive the monthly fee on your preferred account.

For example, if you just want a simple checking account, you might prefer Citi Access Checking over Chase Total Checking®. Both offer strong sign-up bonuses to eligible customers, but Citi's account has a lower monthly fee that is automatically waived for the first three months.

Chase Bank Review

Citi vs. Wells Fargo

Again, you may prefer Wells Fargo if you want a larger branch network throughout the United States. It operates in 36 states and Washington, DC. But keep in mind that Citi has more free ATMs, both in the U.S. and abroad.

The best CD rate could come down to which term length you're looking for. Wells Fargo CD rates are decent, but the bank only offers terms up to one year. Meanwhile, Citi has CD terms up to 10 years.

Wells Fargo Bank Review

Is Citi Right For You?

Citi's strongest products are its home loans, credit cards, and high-yield savings accounts. If you want these products and live in an eligible market, Citi may be right for you. However, keep in mind that you'll benefit most from Citi products if you have the right combination of accounts to avoid common bank fees and earn Relationship Tier benefits.

You might not like Citi if you find its free structure confusing for banking or only qualify for Citi® Savings when you prefer a high-yield savings account.

Why You Should Trust Us: How We Reviewed Citi

For our Citi review, we rate bank products and services using our editorial standards.

At Business Insider, we rate products on a scale from zero to five stars. For bank accounts, we review different features for distinct types of bank accounts. For example, we'll look at early withdrawal penalties and CD variety specifically for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options.

We'll consider factors like annual fees and sign-up bonuses for credit cards, and term lengths for loans. In general, we also look at customer service and ethics.