Citibank checking accounts

Would you like to read a comprehensive review of Citibank checking accounts? Responsible Economy has conducted an analysis of all the features including fees, interest rates, welcome bonuses, requirements, and everything you need to know. We also provide a comparison of the best checking accounts available to open in the United States in 2023. Welcome!

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Citibank checking accounts

Types

Citibank offers customers a choice of three different checking account options:

  • Access Account Package
  • Basic Banking Package
  • The Citibank Account Package
Types of checking accounts offered by citibank
Types of checking accounts offered by citibank

Access Account Package

The Access Account Package is Citibank’s most basic checking account. It incurs a monthly fee of $10 unless you meet one of the following conditions:

  • Make one enhanced direct deposit or one qualifying bill payment per statement period.
  • Maintain a combined average monthly balance of $1,500.

The advantages of this Citibank checking account include easy commission avoidance and access to high-interest CDs. However, it does have some drawbacks such as the absence of paper checks, fees for withdrawals at non-Citibank ATMs, and high fees for wire transfers.

Basic Banking Package

The Basic Banking Package carries a monthly fee of $12 unless you meet either of the following conditions:

  • Make one enhanced direct deposit and one qualifying bill payment per statement period.
  • Maintain a combined average monthly balance of $1,500.

The two advantages of this account are unlimited check writing and access to CDs with high interest rates. On the downside, it can be challenging to avoid monthly fees, wire transfers come with high commissions, and withdrawals from non-Citibank ATMs incur additional charges.

The Citibank Account Package

The Citibank Account Package has a monthly fee of $25, unless you maintain an average account balance of $10,000.

The advantages of this account include fee-free withdrawals from any ATM and access to high-interest CDs. However, it’s important to note that wire transfers come with high commissions, and avoiding monthly fees can be quite challenging.

Summary table

We have created a summary table with all features:

PackageAccess AccountBasic BankingCitibank Account
Monthly Fee$10 (unless requirements)$12 (unless requirements)$25 (unless $10,000 balance)
Requirements to Avoid Fees– One enhanced direct deposit or qualifying bill payment per statement period. Or Maintain a combined average monthly balance of $1,500.– One enhanced direct deposit and one qualifying bill payment per statement period. Or Maintain a combined average monthly balance of $1,500.Maintain an average account balance of $10,000.
AdvantagesEasy commission avoidance. Access to high-interest CDs.Unlimited check writing. Access to CDs with high interest rates.Fee-free withdrawals from any ATM. Access to high-interest CDs.
DrawbacksNo paper checks. Fees for non-Citibank ATM withdrawals. High fees for wire transfers.Challenging to avoid monthly fees. High commissions on wire transfers. Additional charges for non-Citibank ATM withdrawals.High fees unless $10,000 balance is maintained.
Citibank checking accounts features

Pros

When you choose to open an account with Citibank, you can enjoy several advantages:

  1. Access to more than 60,000 ATMs without any commission fees.
  2. Opening a bank account with Citibank is a straightforward and hassle-free process.
  3. Citibank boasts a wide network of over 2,600 branches, providing convenient access to in-person banking services.
  4. Citibank offers competitive interest rates on CDs, allowing you to potentially earn higher returns on your savings.

Cons


There are a couple of drawbacks to consider when it comes to Citibank:

  1. Meeting certain requirements is necessary to avoid monthly commission fees.
  2. Citibank charges commissions on wire transfers.

Requirements


The drawbacks of banking with Citibank include:

  1. The need to meet specific requirements in order to avoid monthly commission fees.
  2. Citibank imposes charges for wire transfers.

Comparison with the best banks in 2023

We have made a comparison of Citibank with the best banks to open a checking account in the United States:

Logo Chase
  • It is very easy to avoid monthly commissions
  • Welcome bonus of 200 dollars fulfilling conditions
  • More than 16,000 ATMs in the United States
  • $25 minimum deposit
  • Very low interest rates
Bank of America logo
  • It is very easy to avoid monthly commissions
  • More than 16,000 ATMs in the United States
  • $100 minimum deposit
  • No welcome bonus
  • High interest rates if you have a lot of savings
Wells Fargo logo
  • It is very easy to avoid monthly commissions
  • Nearly 12,000 ATMs
  • $25 minimum deposit
  • Welcome bonus of 300 dollars fulfilling conditions
  • High interest rates on CDs
Logo Sofi
  • No fees and no requirements
  • Nearly 60,000 ATMs
  • Welcome bonus of 250 dollars fulfilling conditions
  • High interest rates on CDs
Charles-Schwab-Logo
  • No fees no direct deposits
  • Fee-free withdrawals from ATMs around the world
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs
Chime checking account Logo
  • No fees no direct deposits
  • More than 60,000 commission-free ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on Savings
Ally logo
  • No fees no direct deposits
  • More than 50,000 commission-free ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs and Savings
Citibank-logo
  • Commissions of $10 if you do not meet requirements
  • No fees at Citibank ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs

Frequent questions

Now we answer all the questions you may have:

More information about Citibank

We have made a table with information of interest about Citibank:

InformationDescription
Webhttps://www.citi.com/
Twitterhttps://twitter.com/Citibank/
YouTubehttps://www.youtube.com/citi
Facebookhttps://www.facebook.com/citibank
Phone1 (888) 248-4226
Information about Citibank

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Updated the day 1 September, 2023 by Alfredo Barandiarán

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