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Chase and Citi are two notable national banks with branches widely available in the US. If you don't live near a bank location, you may also open accounts online.
To help you determine which bank might be a better fit for you, we've compared checking accounts, savings accounts, and CDs. We're also reviewing financial institutions in trustworthiness so you can know more about each institution's history.
Monthly service fees if you don't qualify to waive them
Low interest rate if you live in a state that doesn't offer Citi® Accelerate Savings - Product Name Only
F rating from the Better Business Bureau due to government action taken against the business and high volume of customer complaints
Pros and Cons of Chase
Pros
Cons
National bank with 4,700 branches and more than 15,000 free ATMs
Possible to waive monthly service fees
Checking account bonus of $200 if you set up direct deposits
High interest rates on some CDs with a relationship rate (to be eligible for a relationship rate, you must have a Chase checking account)
A+ rating from the BBB
Low interest rate on savings account
No money market account
Monthly service fees if you don't qualify to waive them
Public settlements involved wrongful trading and gender discrimination
Citi vs. Chase Checking Account Comparisons
Chase and Citi have multiple checking accounts. Below, we've compared two popular checking accounts with minimal bank fees.
Citi Access Account
Chase Total Checking®
Minimum opening deposit
Citi Access Account
Chase Total Checking®
Monthly service fee
Citi Access Checking - Fees Display
Chase Total Checking® - Fees Display
How to waive the monthly service fee
The monthly service fee is waived during the first 3 months.
After that, you have to receive $250 or more in enhanced direct deposits.
Fulfill one of the following requirements:
Make a total of $500 or more in direct deposits
Keep a minimum daily balance of $1,500 or more in your checking account
Keep an average daily balance of $5,000 or more in all Chase accounts and investment accounts
Sign-up bonus
None
$200
Next steps
Citi Access Account
Chase Total Checking®
Citi vs. Chase Savings Account Comparisons
Citi offers two savings accounts — Citi® Accelerate Savings and the Citi® Savings Account. Chase has a traditional savings account and premium savings account with a slightly higher interest rate.
We've compared the Citi® Accelerate Savings to the Chase Savings℠ since these accounts are available in most states and have similar monthly service fees.
Citi® Accelerate Savings
Chase Savings℠
APY
Citi® Accelerate Savings
Chase Savings℠
Minimum opening deposit
Citi® Accelerate Savings
Chase Savings℠
Monthly service fee
$4.50 or $0
$5 or $0
How to waive the monthly fee
Monthly service fees are waived during the first three months.
Then, you have to meet one of the following requirements:
Keep an average monthly balance of $500 or more
Own a checking account
Meet one of the following requirements:
Maintain a daily balance of $300 or more
Have an automatic transfer of $25 or more from Chase checking
Link Chase College Checking℠ for overdraft protection
Are under the age of 18
Link to a qualifying Chase checking account
Caveats
Available in 42 states (you won't be able to open an account in CA, CT, IL, MD, NV, NJ, NY, VA, certain parts of FL, certain parts of Puerto Rico, and Washington, DC)
None
Citi vs. Chase CD Comparisons
Citi Fixed Rate Certificates of Deposit
Chase Certificate of Deposit (CD)
Term lengths
1 month to 10 years
1 month to 10 years
Minimum opening deposit
Citi Fixed Rate Certificates of Deposit
Chase Certificate of Deposit (CD)
APY
Citi Fixed Rate Certificates of Deposit
Chase Certificate of Deposit (CD)
Early withdrawal penalties
90 to 180 days interest
90 to 365 days interest
Types of CDs
Standard CDs, Step Up CDs, and No Penalty CDs
Standard CDs
Next steps
Citi Fixed Rate Certificates of Deposit
Chase Certificate of Deposit (CD)
Which Bank is More Trustworthy?
We use ratings from the Better Business Bureau to evaluate how a bank deals with customer issues.
The BBB gave JP Morgan Chase & Co. (Chase's parent company) an A+ rating. Keep in mind a good BBB rating won't guarantee that you'll have a smooth relationship with a bank. Also consider talking to current customers or reading online customer reviews.
That said, JP Morgan Chase & Co. has been involved in a few recent public settlements. Here are recent cases with JP Morgan Chase & Co.:
In 2020, JP Morgan Chase & Co. paid $800,000 in back wages in a settlement with the US Department of Labor that accused the company of underpaying women. The US Department of Labor also required the bank to provide a total of $9 million for compensation adjustments over five years.
Meanwhile, Citi has an F rating because it's received a high volume of customer complaints and had government action taken against the business.
Citi has been in the following public scandals:
In 2020, the bank was required to pay $400 million in a settlement with the Comptroller of the Currency. The OCC stated the bank had inefficient banking practices.
Citi vs Chase FAQS
Which is better, Citi or Chase?
Your preference between these two banks may likely come down to where you live. For example, the Citi® Accelerate Savings is a solid high-yield savings account option, but it isn't available in California, Connecticut, Illinois, Maryland, Nevada, New Jersey, New York, Virginia, Washington, DC, and select parts of Florida and Puerto Rico. If you live in one of these states, you'll have to compare the Citi® Savings Account with Chase's savings accounts and see which institution you prefer.
Which is bigger, Citi or Chase?
Chase has more than 4,700 branches in the US, while Citi has over 690 locations. You'll still be able to open online bank accounts if you don't live near a branch.
