How To Open a Citibank Account
If you’re here, you’ve likely decided on — or are strongly considering — opening a Citibank account. Citibank is a global financial institution that’s been around for more than 200 years. As a leader in credit cards, wealth management and commercial banking, it serves over 110 million consumers in 19 different countries.
A recent GOBankingRates survey found that more than 30% of Americans don’t have bank accounts. And many who do never consider moving their assets to another bank — even when they’re offered lucrative sign-up bonuses to do so. Whether you’re a first-time bank account owner or you have experience across multiple banks, learning how to open a Citibank account is as simple as spending a few minutes on this article.
This guide will cover every step to opening an account with Citibank, as well as main account features, how to avoid fees and whether Citibank is really the right choice for you.
Here’s a look at what this guide to opening a Citibank account will cover:
Steps To Open a Citibank Account
If you’re wondering how to open a Citibank account, you’ve come to the right place. This guide will give you detailed instructions on finding the right account for you, what documents you’ll need to open it, how to apply for one and more.
1. Determine Which Bank Account You Want To Open
The Citibank account you want to open depends on your current banking needs. Are you looking for a bill-pay account to use for rent, utilities and other monthly expenses? Or do you need a secure place to grow that new car fund?
Citibank has a bevy of checking, savings and CD accounts, but for the sake of simplicity, we’ll talk mostly about its checking and savings options.
Citibank checking accounts
Citigold: Best for people who hold high account balances
Citi Priority: Best for people who hold medium-to-high account balances
The Citibank Account: Best for people who want interest checking and can hold a balance of $10,000 or more
Basic Banking: Best for people who just want the basics
Access Account: Best for people who want the perks of banking without the hassle — no overdraft fees or checks
Citibank savings accounts
Citi Savings: Interest rates depend on your account package (which checking account you open in conjunction)
Related: Newest Citibank Promotions and Offers: Best Offers, Coupons and Bonuses
2. Gather Your Personal Information
You may be asking yourself “What do I need to open a Citibank account?” Well, here are the Citibank account opening requirements. Whether you’re applying for an account online or in person, you’ll need these documents/information.
Personal information (name, date of birth)
Social Security number
Contact information (phone number, email, address)
Employment status and income
If you decide to go to a branch to open an account, you’ll want to bring your driver’s license, state ID or military ID to verify your identity.
3. Apply Online or in Person
You can apply to open an account either online or in person. The process should be simple if you have all the required information listed above.
To apply online, follow these steps:
Go to the Citibank homepage
Click on “Open an account” in the top right
Select the account you would like to open
Fill out the necessary information
You can also visit your nearest Citibank branch and have a representative walk you through the application process. This is preferable for customers who are new to Citibank or new to banking in general. To find a Citibank location near you, visit its branch locator and enter your location.
What To Do If You Need Help From Citibank Customer Service
If you have questions that could best be answered by a Citibank customer service representative, call one of the following numbers:
Online banking support: 1-800-374-9700
TTY: 1-877-693-0372
Open an account: 1-800-745-1534
TTY: 1-800-992-9833
Spanish: 1-800-360-2484
TTY: 1-800-945-0258
Citibank Account Fees and Features
You may be wondering “What are Citibank’s account types?” Just like any other major bank, Citibank gives you access to a range of checking, savings, CD and retirement accounts. This guide will be going over the main fees and features of Citibank checking and savings accounts.
Checking Account Fees and Features
Different banks have different policies regarding checking account fees. Citibank has service fees for most of its account packages, but they can usually be waived with a high enough balance.
Most of the Citibank checking accounts can be opened by themselves or packaged with a Citi Savings account. Some of them also give you the option to choose an interest-free or interest-bearing checking account.
Citibank Checking Accounts at a Glance | |||||
Fees and Features | Citigold | Citi Priority | The Citibank Account | Basic Banking | Access Account |
Minimum opening deposit | $0 | $0 | $0 | $0 | $0 |
Monthly service charge | $0 | $30 if savings is linked | $25 | $12 with savings linked, $4.50 without | $10 with savings linked, $4.50 without |
Out-of-network ATM withdrawal fee | $0 | $0 | $0 if monthly balance requirements are met | Waived if account owner is 62 or older | $2.50 |
Overdraft fee | $10 fee overdraft protection transfer fee | $10 fee overdraft protection transfer fee | $10 overdraft protection transfer fee | $10 overdraft protection transfer fee | N/A |
Benefits | No fees or minimums, professional guidance | No minimum, fees waived with qualifying balance | Lower balance requirement than gold and priority packages | Simple, no high balance requirements | No overdraft fee, easy bill pay and transfers |
Find Out: Best Checking Accounts of 2020
Savings Account Fees and Features
Citibank only has one savings account, but it has to be opened in a package with one of the bank’s checking options. Because of this, the fees you’ll see with your savings account are associated with the type of package you choose to open.
Citibank Savings Accounts at a Glance | |
Fees and Features | Citi Savings |
Minimum opening deposit | $0 |
Monthly service charge | $0-$30, depending on account package |
Out-of-network ATM withdrawal fee | $0-$2.50, depending on account package |
Overdraft fee | $10 overdraft protection transfer fee |
Benefits | Tiered and competitive interest rates based on balance |
Discover: Best Savings Accounts of 2020
How To Avoid Unwanted Fees
Avoiding Citibank banking fees is a matter of meeting its minimum balance or direct deposit requirements. Here are the requirements for each account package:
Citigold: No service fees, but you need $200,000+ to qualify for the account
Citi Priority: Maintain a combined monthly average of $50,000+
The Citibank Account: Maintain a combined monthly average of $10,000+
Basic Banking: Make one qualifying direct deposit or bill pay per statement, maintain a combined monthly average of $1,500+ or be 62 or older
Access Account: Make one qualifying direct deposit or bill pay per statement, or maintain a combined monthly average of $1,500+
Monitoring and Protecting Your Bank Account
The main reason that so many Americans won’t use online banking is the fear of fraud. But there are things you can do to help prevent this from happening. And, if it does, be assured that Citibank accounts are FDIC insured up to $250,000, so as long as you’re below that amount, you’ll get your money back.
Here are some steps you can take to avoid fraud:
Use strong passwords that nobody else could guess.
Enable two-factor authentication, meaning your account is accessed with a two-step process including a password and fingerprint or face scan.
Install cybersecurity protection on your computer and phone.
Monitor your transaction history for suspicious activity.
Turn on online banking alerts so you’ll be notified with each transaction.
Read: How To Find and Use Your Citibank Login
Should You Open a Citibank Account?
Citibank has consumers in 19 different countries, so if you’re a frequent traveler, it could be the bank for you. It also offers competitive interest rates on a tiered level, meaning the higher your balance, the more interest you get. However, you need to have $25,000 or more in your Citi account to beat the national average.
Overall, if you want lots of product and location options, opening a Citibank account could be the right move for you.
More on Citibank
More on Opening an Account
This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Citibank.
This article originally appeared on GOBankingRates.com: How To Open a Citibank Account
