Citibank Review (July 2024)

We give Citibank 4.2 out of 5 stars overall. It earns points because of its solid customer service support options and its well-liked mobile app. It loses points because of its relatively small number of branches and its limited product offerings (it doesn’t offer a money market account). 

Flip Card Citibank

Citibank Rating 4.2 / out of 5 stars

Rating breakdown

Banking Experience and Access Citibank has 65,000 ATMs across the country, and you can access Citibank’s online banking from your computer, tablet, or smartphone. 4.1 / 5

Checking You can choose from six checking account options if you sign up with Citibank. 4.4 / 5

Savings There is no minimum deposit with a Citibank savings account and you can get an APY as high as 4.45%. 4.3 / 5

Certificate of Deposits (CDs) A Citibank CD requires a minimum deposit of $500. 3.6 / 5

*Ratings are determined by our editorial review team. Learn more about our scoring methodology. Our review team reached out to Citibank regarding its CD rating but did not receive a response.

Citibank vs. Other Top Banks

We rate Citibank higher than any of its nearest competitors, for no fees and the largest network of ATMs of the group. Still, it has a much smaller physical presence than its competitors and different products, so it pays to look at each bank’s offerings individually.

>> Related: Learn more about the best online banks

Citibank offers many personal banking products, including the following:

• Checking accounts
• Savings accounts
• CDs
• Personal loans
• Mortgages and refinancing
• Credit cards
• Self-directed or automated investing
• Wealth management

There are more than 65,000 ATMs available to Citi customers at no charge, and it’s the largest bank in the U.S. to get rid of overdraft fees. Citi also has small-business banking products, including checking and savings accounts.

Relationship-Tier Benefits

Your experience with the bank, including fees and rates, could vary depending on the combined balance of your Citi deposit and investment accounts. This is where Citi’s relationship tiers come into play.

Everyday Benefits is the standard level for all customers and has no minimum balance requirements. Beyond Everyday Benefits, Citibank has three relationship tiers with varying balance requirements:

If your combined average monthly balance grows or decreases in three consecutive months, you’ll automatically be moved to the next higher or lower tier, respectively. One major perk of qualifying for a relationship tier is that you get higher APYs on Citi Savings accounts.

If you qualify for relationship-tier benefits, you’ll receive the following benefits:

City Priority

If your average monthly balances across your Citi accounts are $30,000 to $199,999.99, then your monthly service fees, out-of-network ATM fees and foreign exchange fees will be waived. You’ll also get free standard checkbooks, discounts on mortgage interest rates or closing costs and rate discounts on personal loans.

Citigold

With average monthly balances of $200,000 to $999,999.99 across Citi accounts, you get all Citi Priority benefits, plus unlimited reimbursements on fees charged by non-Citi ATMs and up to $200 in annual subscription rebates for services such as Hulu, Costco, Spotify Premium and TSA PreCheck.

This tier also includes Citigold Concierge for booking travel, reservations and tickets and the Citigold Culture Pass for free and discounted tickets to museums and performing-arts institutions in New York, Chicago, Los Angeles and San Francisco.

Citigold Private Client

With combined balances of $1 million or more, you get all Citi Priority and Citigold benefits, except for a rate discount on personal loans. You also get free non-standard checks, premium travel benefits and an additional $200 in annual subscription rebates (for a total of $400).

We rate Citi 4.1 out of 5 stars in our review’s banking experience and access category, which considers factors such as industry and customer reviews, as well as customer service. Citibank received 4 out of 5 stars from Bauer Financial, a research firm that rates banks and credit unions. Citi’s mobile app has an average of 4.9 out of 5 stars on the App Store based on 3.9 million reviews. On Google Play, Citi has received over 1.1 million reviews, with 4.7 out of 5 stars on average.

However, Citibank is rated F by the Better Business Bureau (BBB) and isn’t accredited by the organization. In the J.D. Power 2023 U.S. National Banking Satisfaction Study, Citibank scored four points below the industry average, ranking behind Capital One, Chase, TD Bank, U.S. Bank and PNC.

Citibank has made efforts to improve the customer experience. In 2023, Citi enhanced its Family Linking feature, which allows people living in the same household to combine their investment and deposit totals so they can qualify for higher relationship tiers without having joint accounts.

Citi replaced its five account package options with the relationship-tier system, which it describes as a simplified program with better benefits. It also abolished fees for overdrafts, insufficient funds and returned items, which can help customers keep more of their savings.

Citibank has also been the subject of controversies. In one example, the federal Office of the Comptroller of the Currency fined the bank $400 million in 2020 for its practices related to risk management and the handling of data.

Our review team reached out to Citibank for comment on its industry ratings, checking and savings accounts and fines from federal agencies but did not receive a response at the time of publication.

Citibank is the retail banking subsidiary of Citigroup, which has roots stretching back to 1812, including its role in financing the War of 1812. Though it nearly collapsed during the 2008 financial crisis due to poor risk management, it remains a massive player in the banking sector. Citibank is the fourth largest bank in the country, with more than $1.6 trillion of consolidated assets, according to the Federal Reserve.

>> Related: Learn more about the largest banks in the United States

Citibank has some areas it could improve, such as offering its HYSA in more locations. Due to account maintenance fees, it may not be a good banking option for people with low balances or irregular income.

However, Citi offers significant perks for higher-net-worth customers, including reimbursed fees for using out-of-network ATMs and no foreign transaction fees. Additionally, customers who receive qualifying direct deposits don’t pay account maintenance fees or fees from Citi for using other ATMs.

Our team researched more than 100 of the country’s largest and most prominent financial institutions, collecting information on each provider’s account options, fees, rates, terms and customer experience. We then scored each firm based on the data points and metrics that matter most to potential customers. Read our full methodology.

• Savings and money market accounts (35% of total score): The best scores go to banks, loans and fintech companies with high interest rates and low or no fees or minimum opening deposits.
• Checking accounts (30% of total score): High marks are given to those with multiple accounts and minimal fees, plus benefits such as reward programs and mobile check deposit.
• Certificates of deposit (20% of total score): Top-rated financial institutions have low or no minimum opening deposits, as well as a variety of term options and specialty CDs for flexibility.
• Banking experience and access (15% of total score): Providers that excel in this category have large branch and ATM networks and multiple checking and savings accounts, and they earn more points for offering CDs and money market accounts.

*Data accurate at time of publication

Editor’s Note: Before making significant financial decisions, consider reviewing your options with someone you trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.