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About Citibank
Citi is a national bank with over 650 branches sprinkled around the US, 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.
Some of Citi's accounts depend on where you live. For example, the high-yield
Citi also has a new system called Relationship Tiers. If you maintain a certain account balance, you'll be eligible for
Citi's customer service is available 24/7 over the phone, and you can chat online from 6 a.m. to 10 p.m. ET. The bank also has an easy-to-use mobile app, which has 4.9 out of 5 stars in the Apple store and 4.8 stars in the Google Play store.
Your Citi accounts are FDIC insured for up to $250,000, or $500,000 for joint accounts.
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 five customer complaints.
Citi has been involved in a recent public controversy. In 2020, the Federal Reserve and Office of the Comptroller of the Currency fined Citi $400 million and claimed the bank failed to recognize money laundering by its customers.
If Citi's history worries you, you can find other banks with great scores from the BBB. But keep in mind that a strong BBB score does not guarantee that your relationship with the bank will be good. Make sure to also talk to friends and family or read customer reviews online to see if a bank might be right for you.
Citi Overall Rating
| Product: | Insider rating (out of 5): |
| Personal Bank Accounts | 3.25 to 4.25 |
| Personal Loans | 3.25 |
| Mortgages | 3.75 |
| Personal Credit Cards | 2.5 to 4 |
| Business Credit Cards | 3 to 4 |
| Trustworthiness | 2 |
| Total | 3.5 |
Citi Pros and Cons
| Pros: | Cons: |
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Citi Personal Bank Accounts
Citi Access Account - Product Name Only
Citi Checking Account - Product Name Only
Citi Priority - Product Name Only
Citigold® Checking Account - Product Name Only
Citigold® Private Client Checking Account - Product Name Only
Citi offers two standard checking accounts:
If you'd like to get a premium checking account, the bank also offers relationship tiers:
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.
The
Citi® Accelerate Savings - Product Name Only
See Insider's Citi Accelerate Savings Account Review.
Citi® Savings Account - Product Name Only
Citi has two types of accounts: Citi Savings and
Read Insider's Citi Savings Rates Review.
Citi Fixed Rate CD - Product Name Only
Citi No Penalty CD - Product Name Only
Citi Step Up CD - Product Name Only
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
See Insider's Citi CD review.
Citi Personal Credit Cards
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
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Citi Business Credit Cards
If you have a small business, Citi has two types of credit cards. The
- Costco Anywhere Visa Business Card by Citi Review
- CitiBusiness AAdvantage Platinum Select Mastercard Review
Citi Personal Loans
See Insider's Citi Personal Loans Review.
Citi Mortgages
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 Insider's Citi Mortgage Review.
Citi FAQs
Is Citi a good bank?
Citi has a variety of home loans and credit cards. It also may be a good option if you'd like to open an online high-yield savings account with a national brand.
Is Citi FDIC-insured?
Yes, Citi bank accounts are FDIC-insured for up to $250,000 per depositor.
How much is needed to open a Citi account?
Savings and checking accounts do not require a minimum opening deposit. If you'd like to open a certificate of deposit, you'll need at least $500.
How Citi Compares
We've compared Citi to two other national banks: PNC Bank and Wells Fargo.
Citi vs. PNC Bank
Citi and PNC Bank are national banks with branches throughout the US. PNC Bank has roughly 2,400 locations, while Citi has over 650 branches.
If you don't live in a state with a Citi or PNC branch, you may explore each bank's online-only bank accounts. Both banks have online high-yield savings accounts that are available to residents of states where there aren't any branches.
If you're eligible for both high-yield savings accounts,
Citi offers a greater variety of credit cards than PNC Bank. However, PNC Bank offers more types of home loans than Citi.
Citi vs. Wells Fargo
If you'd like to keep all of your bank accounts in one institution, then the Citi may be worth exploring. The
You also might prefer Wells Fargo if you'd like to get a personal loan. Wells Fargo is featured as a top pick in our best personal loans guide.
Why You Should Trust Us: How We Reviewed Citi
For our Citi review, we rate bank products and services using our editorial standards.
At Personal Finance 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.