This package of bank accounts comes with global perks and professionals who advise your overall financial wealth strategy. Yet it’s tough to bypass the monthly fee unless you have $30,000 on hand.
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Citi Priority Checking account review
By Sarah George
Citi Priority Checking isn't available on Finder right now.
- Fee
- $30 per month
- Minimum deposit to open
- $30,000
Our verdict
Get the most benefit if you’re an international traveler or amping up your wealth strategy.
The Citi Priority account acts as a package of bank accounts linked under one account name to give you access to its perks and benefits. This account works best if you keep a lot of cash on hand or have a large amount of money across all your bank, retirement and investment accounts.
You’ll get the most benefit from the Citi Priority account if you keep all of your cash and investments with Citi. That way, you can reach their financial professionals for advice on your personal wealth strategy.
This account also works well if you regularly travel or send money abroad. You can buy products with your debit card without paying foreign exchange fees. Citi also waives online wire transfer fees if you send the money in a foreign currency.
But keep in mind that you’ll be paying a hefty $30 monthly fee unless you meet minimum balance requirements, which is higher than most accounts we’ve seen. If you’re not interested in obtaining advice from Citi’s financial advisers or in their product discounts, you can find accounts that offer similar perks like no ATM or foreign exchange fees for a lower monthly fee.
Pros
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Signup bonus
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No ATM fees
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No foreign exchange fees
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Financial advisers
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Preferred pricing and perks
Cons
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High monthly service fee
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Keep your account open
How to open a Citi Priority Checking account
Get started with a Citi Priority account by opening a Regular Checking account under the Citi Priority Package. You can also link other savings or deposit accounts based on your financial needs.
To get started:
- Select Apply now.
- Navigate to the checking accounts section of Citi’s website, and choose Apply now.
- Provide your personal information and verify your identity when prompted. New sections will load as you work through the application.
- Set up a new online account for managing your money with Citi.
- Read the account disclosures, and if you agree, accept them.
- Enter information for an external account to deposit funds in your new Citi Priority account.
Eligibility
To open this account, you must be at least:
- A US citizen or resident.
- At least 18 years old.
Required information
You need this personal information to start your application and verify your identity with Citi.
- Name and date of birth
- US address
- Government-issued ID
- Social Security number
Bank accounts available with the Citi Priority account
You must open at least a checking account when applying for a Citi Priority account. However, if you link all your accounts to your Citi Priority account, Citi will consider the combined balances in these accounts toward your qualifying balance to waive monthly fees.
- Regular Checking. Sign up for a checking account to move and manage your money with Citi.
- Citi Savings. Earn a 0.10% APY on your savings and get overdraft protection that pulls money from this savings account if you overdraw from your checking.
- Certificates of Deposit. Lock up your savings for a short time to maximize your earnings with interest rates up to 5.65% APY. Choose from a fixed or variable rate CD or even one that doesn’t penalize you for withdrawing funds early.
- IRAs and Roth IRAs. Get tax advantages for your retirement savings.
- Citigroup Global Markets Inc. Start an investment portfolio under the Citi umbrella and get personalized advice about your investment strategy.
5 benefits of a Citi Priority account
You don’t need a minimum amount to open this account, and you also get a slew of fee waivers and relationship perks to look forward to.
- Signup bonus. You can earn $200 with a balance of at least $10,000, $500 with a minimum balance of $30,000, $1,000 with at least $75,000, $1,500 with at least $200,000 and $2,000 with a minimum balance of $300,000 as long as you deposit your new account within 20 days of opening and maintain the balance for 60 days after the 20 days.
- No ATM fees. With this account, as long as you maintain a combined monthly average balance of at least $10,000 in your eligible Citi accounts, you don’t have to worry about paying a fee from Citi when you’re accessing a non-Citi ATM. However, ATM owner fees may apply.
- No foreign exchange fees. International travelers can purchase and withdraw from the account without extra fees when using the Citi debit card abroad.
- Financial advisors. Get the perk of developing a financial and investment strategy with a Citi Personal Wealth Management professional.
- Preferred pricing and perks. Get discounts and perks on specific products.
3 potential drawbacks
- High monthly service fee. The Citi Priority account package requires you to pay a $30 maintenance fee, one of the highest monthly fees we’ve seen with a bank account. The only way you can waive it is if you keep a combined balance of at least $30,000 in qualifying deposit, retirement and investment Citi accounts.
- Keep your account open. To get the opening bonus, you must keep your account open for up to 90 days after meeting the requirements. The bonus will be awarded within 90 days.
Citi’s ATM network and fees
Citi offers over 70,000 fee-free ATMs across the US for your convenience. Citi also doesn’t charge bank fees when you use non-Citi ATMs as long as you meet combined average monthly balance requirements, though you might pay the fee from the ATM owner.
Another major perk, international travelers can locate ATMs in 20 countries, giving you wide access to your funds wherever you go.
Compare with other checking accounts
See how other checking accounts’ features compare, including their monthly fees, opening deposits and ATM network. Then, choose Go to site when you find one that suits you.
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How to deposit or withdraw money
Gain access to your money in a variety of ways with your Citi Priority account.
Deposits
- Mobile check deposit. Use the app to snap a photo of your check for remote deposit into your account.
- Wire transfers. Receive money from a third party without any fees for the incoming transfer, whether it’s domestic or from abroad.
- In person. Find one of Citi’s 600 bank branches to deposit your money with a teller.
- ATM. Use the ATM locator to find the closest Citi ATM, or use any ATM near you without fear of fees from Citi.
- Direct deposit. Set up funds from your employer or other sources of income to go directly to your Citi Priority account, available the same business day.
- Online transfer. Top up your funds by transferring from an outside account or another Citi account.
Withdrawals
- Debit card. Use your debit card to make all your normal domestic or international purchases.
- Wire transfers. You’ll pay fees for all outgoing wire transfers unless you transfer funds online in a foreign currency.
- In person. Visit a bank branch to pull money from your account.
- ATM. Take cash out of your account at any Citi or non-Citi ATM near you.
- Direct deposit. Set up funds from your employer or other sources of income to go directly to your Citi Priority account, available the same business day.
- Online transfer. Move funds from your Citi account to an external bank account at your leisure. But remember the six-withdrawal limit that most banks impose on savings accounts.
How to contact Citi customer service
Citi gives you several choices to connect with customer representatives personally or online.
- Phone. Talk with a live representative by calling 800-374-9500 any day of the week from 9 a.m. to 11 p.m. ET.
- In person. Schedule an appointment with a Citi banking representative either at your nearest branch or as a video call with extended hours available.
- Email. Log in to your online account or through the app to send your questions via a secure message.
- Mail. Send documents to U.S. Service Center, Attn: C.P.S., P.O. Box 769007, San Antonio, TX 78245-9966.
Citi Priority Checking is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 4.20% 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 4.20% APY on savings
- $0 account or overdraft fees
- Get up to a $300 bonus with direct deposits of $5,000 or more
Sarah Finder
Writer
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