Citibank Bank Review 2023
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At a glance

CDs
Checking
Savings
About Bankrate Score
Overview
Citibank is a good option for savers looking for an institution with global reach and the fullest possible range of deposit and lending products. People who live in areas eligible for Citi’s Accelerate Savings can earn a top-tier APY. But unlike other online banks, you’ll need to have a Citi checking account — in the Access Account Package — or keep at least an average monthly balance of $500 in order to avoid the $4.50 maintenance fee.
Highlights
- 24/7 Customer Service
- Digital Leader
- Large Branch Network
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Citibank is among the world’s largest financial institutions, with well over $1 trillion in assets. It offers a comprehensive selection of banking products. These include its High-Yield Savings account, its Basic Banking Package checking accounts, its CDs and its credit cards. It is also the largest bank to eliminate overdraft fees. Obtaining competitive yields on savings accounts at Citi will depend on where you live and whether you’re eligible for its High-Yield Savings account.
Citi has more than 2,300 Citi ATMs and 65,000 fee-free ATMs. The bank also has more than 600 branches.
Pros
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Those in eligible markets for the Citi Accelerate Savings are able to earn a competitive yield on their savings accounts.
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As one of the largest banks, Citibank offers unique advantages that come with scale, including global coverage in terms of branches and ATMs.
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Citi’s mobile banking app is very well-regarded.
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Citi tends to have bank account bonus offers available for new customers who open a new account.
Cons
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The yields offered on deposit products are generally on the low side in certain markets.
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Citi’s banking service packages charge monthly fees if accounts fall below minimum balance thresholds.
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The Citi Accelerate Savings account is not available in a number of states.
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Citi’s banking packages might be confusing for some consumers.
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The Citi Accelerate Savings account requires you to have a checking account in the Access Account Package or have at least a $500 monthly average balance to avoid the $4.50 monthly service fee. Generally, online banks don’t have requirements like this.
Citibank banking products
FEATURES
Citibank savings overview
The Citi Accelerate Savings account is a part of the Citi banking package. It pays a competitive yield, but it's only available in select markets. There is no minimum opening deposit. However, you must maintain an average monthly balance of $500 to waive the $4.50 monthly service fee.
Having both checking and savings accounts at Citi can help you avoid monthly service fees.
The Citi Savings Account isn’t known for having a competitive yield. But the Citi Accelerate, if it’s available in your area, is known for offering a yield comparable to some online banks.
During our review, there was a savings bank account bonus for a Citi Savings account. But the product eligible had an APY below Bankrate’s national savings average and was only for certain markets.
Pros
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The Citi Accelerate Savings account offers a competitive APY in certain states and markets.
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There’s no minimum deposit required to open a Citi Accelerate Savings account.
Cons
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The competitive APY is available only in select markets.
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You need to keep an average monthly balance of at least $500 to waive the $4.50 monthly service fee. Many online savings accounts don’t have these requirements.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
CitibankAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
Fee | Charged? | |
---|---|---|
Overdraft fee | None | |
Non-sufficient funds fee | None | |
Monthly maintenance fee | Depends on the account | |
Out-of-network ATM fee | $2.50 | |
Excessive transaction fee | None |
About Citibank
Citibank’s roots stretch back to the City Bank of New York, which was established in 1812. By the late 19th century, it had grown into National City Bank, the largest financial institution in the United States at that time. The bank changed its name to Citibank in 1976 and moved to its current headquarters in Sioux Falls, South Dakota in 2011.
Citibank is the retail banking subsidiary of the multinational financial services company Citigroup.
Bank experience
There are around 675 Citibank branches in the U.S. and it supports customers in more than 160 countries. Account holders have access to more than 65,000 fee-free ATMs in the U.S. and thousands more overseas.
Bank customers can use its well-reviewed iOS and Android mobile apps to pay friends with Zelle, lock or unlock a card when it’s lost or stolen and even open a checking or savings account.
Citigroup funds the Citi Foundation, a philanthropic organization that donates to and partners with community organizations across more than 80 countries around the globe. Recently, the Citi Foundation announced it will provide a collective $25 million to organizations globally working to address food insecurity.
How does Citibank compare to other banks?
Citibank vs. Chase
Citibank and Chase are among the top five largest banks in the United States, with both banks surpassing $1 trillion in assets.
Although both banks are also similar when it comes to fees, Citibank generally offers better yields on its deposit products, notably many of its CDs and its Accelerate Savings Account. Moreover, Citibank completely eliminated their overdraft fees, but Chase is still charging more than $30 per overdrawn transaction.
All that noted, Chase offers a larger branch network that’s available in just about every state. Chase also offers auto financing in addition to mortgages; Citibank only offers the latter.
Citibank FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.