Citibank was founded in 1812 as City Bank of New York. Offering retail banking operations in more than 100 countries and territories, Citibank currently serves more than 200 million customers worldwide.
Company Headquarters:
Citibank Corporation
399 Park Ave.
New York, NY 10022
Website: online.citibank.com
Customer service: 1-800-374-9700
Types of Accounts Available
Citibank offers a ton of savings, checking, money market and CD options.
Savings Accounts
The Day-to-Day Savings Account is one option customers can take advantage. Some of this account’s features and requirements include:
- $100 to open
- $500 minimum balance to avoid monthly fee
- 6 transactions allowed per statement
- No checking account required
- Citibank Banking Card
- Online and mobile banking
- Online bank statements
- Account alerts
- Real-time transfers
- Online transfers to/from non-Citi accounts
The other savings account option offered by Citibank is the Citibank Savings Plus Account.
Checking Accounts
Citibank offers several checking options, the simplest being one known as Basic Checking. The account comes with the following requirements and features:
- No monthly service fees
- No minimum balance
- Unlimited check writing
In order to enjoy these features and avoid a monthly service fee of $8, you must perform a combination of five of the following qualified transactions each month:
- Direct Deposits
- Any debit card purchase
- Bill payments
- Auto deductions
- ACH payments
- Checks paid
- Cash withdrawals at any ATM
Citibank also offers the Citigold Interest Checking Account, the Citibank Account and the Citibank Student Account.
Money Market Accounts
The Citibank Premier Money Market account is the only money market option for consumers. Its features and requirements include:
- $1,000 to open
- No minimum balance requirement
- Checking account is required
- 6 transactions allowed per statement
- Citibank Banking Card
- Online and mobile banking
- Online bank statements
- Account alerts
- Real-time transfers
- Online transfers to/from non-Citi accounts
Higher APY is available based on a specified average monthly balance as well as qualified activity in checking account.
CDs
Citibank’s CDs require $500 to open. Features include:
- Automatic renewal at maturity
- Interest is paid monthly or at maturity for terms of one year or less
- Interest is paid monthly for all CDs with terms of greater than one year
- Waived monthly service fee if $50,000 is held across linked deposit and retirement accounts, $100,000 is held across all Citi linked accounts (excluding a first mortgage), or $250,000 for all accounts including the mortgage.
Citibank’s CD terms are as follows:
- 3 month to 13 month
- 18 month
- 24 month
- 30 month
- 36 month
- 48 month
- 60 month
This bank does not advertise jumbo CDs.
How to Open Account
To open an account with Citibank, you must be at least 18-years old and a U.S. resident. Also, you must be prepared to provide:
- Valid driver’s license or state ID
- Social Security number
- Current U.S. address
- E-mail address
- Routing and account number for current bank account, debit card or credit card to fund account.
Next, choose an account that you would like to open and get started.
FDIC Insurance and Coverage
Deposits in interest checking, savings, money market and CD accounts are all FDIC-insured at Citibank for up to $250,000 per depositor.
Customer Service
Citibank has a vast number of customer service options to take advantage of. In addition to calling a slew of 800 numbers for various issues, consumers can email customer service for assistance or even send a Tweet to @AskCiti to ask a question. Those who would prefer taking the traditional route can send a letter via snail mail.
Security
In order to protect customers from various breaches in security, including identity theft, Citibank Online uses 128-bit Secure Sockets Layer (SSL) encryption technology. Also, the site requires user IDs and passwords, sets the site to timeout after a session has lasted for 10 minutes and runs firewalls to make sure the site is protected.
Citibank offers credit cards, lines of credit and loans, investment opportunities, retirement planning options and business banking services in addition to the standard deposit accounts.
