Citi vs. Chase: Which Bank Is Better?

Both banks have lots to offer, and their value to you depends on your unique needs. Chase has a strong digital platform, a large national network of over 4,700 brick-and-mortar branches and offers more account products. However, Citibank offers superior interest rates on savings accounts and CDs and has a strong international presence with branches located in many countries.

Citi vs. Chase: A quick comparison

	Citi Read Review	Chase Go to site
Bonus	Earn up $325 by opening an eligible Citi checking account and meeting direct deposit requirements.	Earn either $100, $300, $500 or up to $3,000 when a new account is opened. The bonus amount depends on the account type, eligibility and criteria.
Savings	APY: Up to 4.35%, depending on zip code and relationship status	APY: 0.01% on Regular, 0.02% Premier relationship
Checking	Monthly fee: $0 to $15 Minimum deposit: $0 APY: 0%	Monthly fees: $0 to $35 Minimum deposit: Varies Up to 0.02% APY
CDs	Terms: 3 months to 5 years Minimum deposit: $500 APY: Up to 4.25% on 9-month term, depending on zip code	Terms: 2 months to 12 months Minimum deposit: $1,000 APY: Up to 4%
ATMs	70,000+ in-network ATMs ATM fee: $2.50 for out-of-network ATM, fee waivers eligible on some accounts	More than 15,000 ATM fee: $3 at out-of-network domestic ATMs, $5 at international out-of-network ATMs.
Branches	Online only	Around 5,000 branches in 48 states

Citi vs. Chase: Account options

Accounts at both Chase Bank and Citibank are FDIC insured, meaning you are covered up to $250,000 per depositor per relationship category.

Citibank is the third-largest banking institution by asset size in the US but serves roughly 200 million customers globally. It has been around since 1812 and has over 2,500 branches globally.

Chase (also known as JPMorgan Chase) was founded as The Bank of The Manhattan Company back in 1799 and is the largest bank in the country by asset size. Chase services nearly 86 million customers.

Both banks have a large, dominating presence, but the right bank for you very well could depend on your need for brick-and-mortar versus international access.

Banking

Citibank is the clear winner when it comes to interest rates on savings accounts and offerings on CDs. Chase Bank doesn’t even offer a High-Yield Savings product, and its CD rates are limited and exclusive to existing customers. Citi also has a wider range of ATMs and better new account opening bonuses on the whole.

On the other hand, Chase Bank has lower fees and offers more account products than Citi, including kid-friendly accounts. Ideal for tech-savvy users, Chase also has an efficient and innovative digital banking platform, which allows for cardless ATM transactions and more. Finally, if you need access to physical branches, Chase is the better option, as it has more brick-and-mortar locations domestically.

When it comes to account offerings, each bank is unique:

Citi offers:

• Regular Checking and Access Checking, both with monthly fees that can be waived by becoming a member of its relationship program. Neither has overdraft fees, but count on the monthly fee unless you can waive it with the Relationship program or by meeting deposit requirements.
• A High Yield Savings account (formerly called its “Accelerate Savings” account) that’s offering up to 4.35% APY as a promotional APY for relationship bankers, though your exact rate depends on your zip code, balance and relationship status.
• Many choices for certificates of deposit (CDs) with competitive interest rates.

Chase offers:

• A variety of personal checking and savings accounts, including six different checking accounts, including ones exclusively for college and high school students. Chase Total Checking is a popular, everyday choice.
• Business checking accounts for businesses of every size, making them a popular bank choice for business owners.

Borrowing

Citi and Chase are both Big Four banks, so they naturally have some lending options, including credit cards and mortgages. However, each bank has different product offerings, with Citi having a wider variety of lending options overall.

Chase offers:

• Mortgages for prospective homebuyers or existing homeowners.
• Auto loans for used and new vehicles.
• A wide variety of credit cards, working as an issuer with various providers (like Disney and Southwest Airlines). It also has in-house credit cards renowned for their rewards, like the Chase Freedom Flex.

Note: Chase does not offer any personal loans.

Citi offers:

• Mortgages and HELOCs.
• Personal loans for purposes such as debt consolidation, home improvement or other purchases.
• A variety of credit cards, including the Citi Simplicity Card.

Investing

Both Chase and Citi offer investing services integrated into their mobile and online banking platforms, which make it convenient to manage all your money in one place. Both banks have elf-directed options and the ability to work with a financial advisor, offering investment options like retirement accounts (IRAs) and other assets (stocks, bonds, exchange-traded funds (ETFs), mutual funds, etc.)

Chase Bank appears slightly superior in its investment offerings. In addition to self-directed investing, it also has automated investing via a robo-advisor service that manages a portfolio based on your unique goals.

Chase also offers access to personal advisors, which provides a more tailored investment strategy from a professional.

How Citi and Chase’s fees compare

As of now, Chase generally has a lower fee on basic checking, currently $12 a month for Chase Total Checking®. This fee is waivable with a monthly direct deposit of $500 or a minimum balance of $1500.

Citi’s basic account has a monthly fee of $15, but while higher than Chase’s fee, it is easier to meet the waiver condition of requiring a direct deposit of only $250 a month. Citi also follows a relationship tier structure (based on balance and banking relationship), which can also waive the fee.

Citi does not charge any overdraft fees and hasn’t since 2022. This feature can be very helpful if you are occasionally strapped for cash. For comparison, Chase charges $34 per overdraft/NSF item (for overdrafts over $50).

Both banks have similar wire transfer fees, with Citi coming in slightly lower:

• Chase charges $35 (in branch) or $25 (online) for domestic outgoing wires and $50 (in branch) or $40 (online) for outgoing international wires.
• Citi Charges $17.50 to $25 for domestic outgoing wires and $25 to $35 for international.

Lastly, if ATM access is your concern, both banks charge similar out-of-network ATM fees, with Citi charging $2.50 and Chase charging $3 for withdrawals.

What customers say about Chase and Citi

Citi and Chase are both large “big four” banks, meaning they serve millions of customers. Naturally, there is also some dissatisfaction with both banks, as a lot of customers have had their own experiences. Overall, customers seem to have mixed opinions about both institutions.

Chase Bank is often praised for its user-friendly and innovative digital banking experience and its 24/7 customer support on Trustpilot, Better Business Bureau (BBB) and Reddit. Reviews often point out strong fraud protection policies and state-of-the-art security measures. However, some customers feel this is overkill with how often Chase freezes accounts for suspected fraud. Many customers also report dissatisfaction with customer service, stating long wait times on phone lines and inconsistent in-branch services.

Citi Bank, however, has a poor reputation for customer service, as many Redditors claim on r/CreditCards. Several users complain about long wait times, issues resolving disputes and unknowledgeable banking representatives. Some customers appreciate Citi’s variety of banking products, no overdraft fees and high interest rates on savings, but it’s clear its customer support is lacking compared to other major banks.

Final verdict: Chase is better

Chase gets our pick for the better bank. Its strong customer service, intuitive and efficient digital platform, better credit cards and more physical branch locations are why it scoops the win. These reasons make them more reliable for everyday banking needs.

Although we think Chase is better, Citi could be better for you, depending on your goals and circumstances. If you seek higher interest rates on savings or CD products or frequently travel internationally, Citi is clearly the pick.

Chase at a glance

Overall, Chase is great for quick, easy access to your money due to its online offerings and branch availability, and it tends to offer lower monthly fees on personal accounts.

Citi at a glance

Overall, Citi is great for those seeking low fees and global access.

Alternatives to Citi and Chase

If neither bank seems right for you, or you would like to compare more, there are plenty of other banks out there. Here are some alternatives.

• SoFi Bank, N.A. An online-only full-service FDIC-insured bank that offers a free checking account with no monthly fee. SoFi® also has a high-yield savings account, which is competitive with current rates.
• Capital One. If you’re a frequent traveler, you will love Capital One’s 360 Checking account, as it has no monthly fee, foreign ATM fees, currency transaction fees or foreign transaction fees. Capital One also has a large network of over 70,000 ATMs.
• Bank of America (BofA). As the second-largest bank in the nation, BofA compares very strongly to Chase Bank in terms of checking accounts and in-branch accessibility. BofA also offers slightly higher interest rates than Chase.

See how even more bank accounts stack up:

• SoFi vs. Chase
• Capital One vs. Chase
• SoFi vs. Capital One

To make sure you get accurate and helpful information, this guide has been edited by Bethany Hickey as part of our fact-checking process.

Written by

Summer Nevins

Contributor

Summer Nevins is a freelance personal finance writer for Finder. After almost a decade of working in banking and financial services, she quickly realized her true passion is to educate consumers about the complicated facets of all things money. Summer has channeled her passion for personal finance education into writing and since 2020 has written for various clients and publications. She’s recently been working with Influencers like Erika Kullberg and continues to contribute to other finance publications. She holds a BS in Management and Finance and an MBA specializing in Data Analytics from Western Kentucky University. See full bio