Citibank Basic Banking Package

Are you interested in a detailed review of the Citibank Basic Banking Package? At Responsible Economy, we have conducted a comprehensive analysis of its features, such as fees, interest rates, welcome bonuses, requirements, and everything you need to know. Moreover, we offer a thorough comparison of the top checking accounts currently available in the United States for 2023. Welcome!

Explanatory Video

We understand that visual content is more engaging, so we have created an explanatory video showcasing all the features of Basic Banking Package. By the way, if you enjoy our content, please subscribe to our YouTube channel to support us!

YouTube video
Basic Banking Package

Features

In this section, we present all the features of the Citibank Basic Banking Package.

Fees

In the event of not meeting the requirements, a monthly fee of $12 (equivalent to $144 per year) applies. However, meeting the requirements is remarkably simple. If you meet any of the following two conditions, you won’t have to pay any fees:

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

Minimum deposit

There is no minimum deposit required to open the account.

Cash withdrawals at ATMs

You can withdraw money from Citibank ATMs without any fees. However, using non-Citibank ATMs incurs a $2.50 fee for each cash withdrawal.

Zelle

Citibank allows you to conveniently send and receive money using Zelle.

Overdraft assist

The Basic Banking Package does not offer Overdraft service. Any charges that would result in a negative balance will be declined.

Early direct deposit

Even if you have direct deposits, you won’t be able to receive your paycheck early.

Bonus

The Basic Banking Package does not offer any welcome bonus.

Requirements

To open a Basic Banking Package, you must meet the following requirements:

  • Reside in the United States and provide proof of your address.
  • Have a Social Security number.
  • Possess a US phone number.

Fees

As mentioned before, the monthly fee is $12 unless you meet one of the following conditions:

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

We also provide a list of other potential fees:

  • Wire transfers: $15 for incoming transfers and $25 for outgoing transfers.
  • Non-Citibank ATM Fee: $2.50 each withdrawl.

Pros

We have made a list with all the advantages that the Basic Banking Package has:

  • Wide availability of offices and branches throughout the United States.
  • Easy to avoid monthly fees.
  • Write as many checks as you need and have checks sent directly from your account using Online Bill Payment.

Cons

Here we show you all the disadvantages:

  • Very low interest rates on the checking account.
  • Monthly fees if requirements are not met.

Frequent questions

Now we are going to answer all the questions you may have about Basic Banking Package:

Comparison of the best checking accounts in 2023

We have made a chart with the best checking accounts that you can open 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

Video Citibank Checking accounts

We have created a video highlighting the key features of Citibank checking accounts.

YouTube video
Citibank checking accounts review

Video with the best banks

Here you have a video with best checking accounts in 2023:

Best banks in 2023

More information about Citibank

Here you have interest information about Citibank:

InformationDescription
Websitehttps://online.citi.com/
Twitterhttps://twitter.com/Citibank/
Facebookhttps://www.facebook.com/citibank
YouTubehttps://www.youtube.com/citi
information about Citibank

Other Citibank products

Here is a list of financial products offered by Citibank:

Conclusions

After conducting a comprehensive analysis, we can confidently state that the Basic Banking Package is not a recommended checking account option. It does not offer any welcome bonus, charges fees if certain requirements are not met, and provides a 0% APY interest rate.

Related content

Finally, you have articles related to bank accounts:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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