Citi Interest Checking Accounts review
Citibank Account Package isn't available on Finder right now.
- Fee
- $25 per month
- APY
- 0.05%
- Minimum deposit to open
- $0
Our verdict
Earn interest on your balance with the convenience of a linked savings account.
Citi®'s interest-bearing checking accounts come with access to rewards, cash bonuses and a linked savings account to make growing your funds convenient. However, it also comes with maintenance fees that can only be avoided with high average monthly balances. If you're just starting to build your savings, these accounts might not be your best option.
Pros
-
Earn Citi ThankYou Rewards points
-
Earn interest on your checking account balance
-
No Citi fee for using non-Citi ATMs when monthly balance requirements are met
Cons
-
Overdraft fees
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Low interest rate
-
Branch availability
How do I open a Citi Interest Checking Account?
Go to the provider’s site and follow the steps to apply.- Navigate to Checking and select from Interest Checking and Citi Savings, Interest Checking or Regular Checking to open an account.
- Enter your personal information, confirm your identity and complete additional steps for the account.
- Enter your banking info, fund your account and submit your application.
Eligibility
To open an account, you must meet eligibility requirements that include:
- At least 18 years old
- US citizen or resident alien
- Valid US residential address
- Valid Social Security number
Required information
You must provide personal and financial information that includes:
- Name
- Date of birth
- Proof of residential address
- Address
- Social Security number
- Employment information
Signup bonuses for Citi Interest Checking Account
Eligible checking accounts come with three tiers of signup bonuses, each with several required activities.
$300, $700 or $1,500 bonus — and required activities
- Open Basic Banking Regular Checking or a checking account in the Citi Account, Citigold Account or Citi Priority Packages by Sunday, July 17, 2022.
- Enroll in the New to Citi Checking Account Bonus Offer on the same day that you open your account.
- Deposit at least $15,000 in new funds within 20 days, qualifying for the $300 bonus. To get a higher reward, deposit at least $50,000 to receive the $700 bonus or $200,000 for the $1,500 bonus.
- Maintain the minimum balance required for another 60 consecutive calendar days — at least $15,000 for the $300 bonus, $50,000 for the $700 bonus or $200,000 for the $1,500 bonus.
- Citi credits your bonus to your account within 90 calendar days after you qualify.
Choose an account package with Interest Checking
Only the Citi, Citigold and Citi Priority Account Packages offer Interest Checking.
The monthly fee, interest rate and perks of your Citi Interest Checking account vary depending on the package you select.
- Citibank Account Package. A checking account with the ability to earn rewards and waive Citi’s out-of-network ATM fee if you maintain a balance of $10,000 or more.
- Citi Priority Account Package. Priority banking with investment resources, rewards points, preferred pricing and more.
- Citigold Account Package. Full-service checking account with financial planning, dedicated customer representatives, preferred rates and a concierge service to help you book travel, tickets or dining.
6 benefits of Citi Interest Checking
Citi Interest Checking accounts offer a handful of perks that make it stand out from the rest.
- Cash bonus. Earn a cash bonus of up to $1,500 when you meet required activities.
- Earn interest. Earn APY on your account balance.
- Convenience. Bundle the account with savings to keep more of your banking needs with Citi.
- Security. Deposits of up to $250,000 are covered by the FDIC.
- Accessibility. Accounts come with access to more than 70,000 free ATMs across the country, over 600 branch locations and a free app for banking on the go.
- Rewards. Earn rewards that you can apply toward shopping, travel and more. And join the Citi Entertainment program to get exclusive access to concerts and other events.
Citi ATM network and fees
Your Citi debit card unlocks access to more than 70,000 fee-free ATMs and 600 branch locations nationwide. If you can’t make it to a Citi, Allpoint or MoneyPass ATM, you can still avoid paying extra.
Citi has a strong international presence, which means you aren’t charged transaction fees if you use a qualifying ATM outside the US.
With the Citibank Account Package, you can avoid foreign ATM fees of $2.50 plus 3% of transaction value per withdrawal — plus fees from the ATM owner.
Other ways to avoid non-Citi and foreign fees:
- Non-Citi ATM fees. Select the Citibank Account Package and maintain the $10,000 minimum balance or the Citi Priority Package with any balance for no fees. ATM owner fees may apply.
- Refunds of non-Citi ATM fees. The Citigold Account Package offers unlimited refunds non-Citi ATM fees.
4 things to look out for
- Monthly service charge. You could pay a service fee of up to $30, though each account offers ways to avoid the fee.
- Citibank Account Package. Maintain an average monthly balance of $10,000 in eligible linked accounts.
- Citi Priority Account Package. Maintain an average monthly balance of $50,000 in eligible linked accounts.
- Citigold Account Package. Maintain an average monthly balance of $200,000 in eligible linked accounts.
- Overdraft fees. Pay $34 for each overdraft with a maximum of four charges a day. Citi charges $10 when it transfers money from a linked accounts to cover an overdraft transaction.
- Branch availability. Citi supports branches in California, Connecticut, Florida, Illinois, Maryland, New Jersey, Nevada, New York, South Dakota, Texas, Virginia and Washington DC.
- Low APY. Interest rates are lower than checking accounts at other institutions.
Compare checking accounts
Compare interest, opening deposits, ATM network and rewards across top checking accounts. Select Go to site to apply.
What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
What other checking options does Citi offer?
- Basic Banking Package Regular Checking. This simple checking account offers unlimited check writing and fee-free access to Citi’s ATM network. It also requires a lower minimum account balance than other account packages to avoid the monthly fee.
- Access Account Package Checkless Regular Checking. This account provides access to Citi’s products and services with no paper checks.
Checking account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our banking experts analyze top checking accounts and factors that include monthly fees, the ability to waive fees, ATM networks, overdraft fees, customer service and more.
Learn more about how we prioritize and weight factors in our full methodology for rating checking accounts.
Citibank Account Package is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 4.00% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
- 0.50% APY on checking balance
- Up to 4.00% APY on savings
- $0 account or overdraft fees
- Get up to a $300 bonus with direct deposits of $5,000 or more
Peter Finder
Writer
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