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Citibank Banks Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
8 Customer Comments & Reviews - see all comments
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Originally founded in 1812 as the City Bank of New York, Citibank is a division of Citigroup, a multinational financial services corporation. With over 2,000 branches worldwide and over 700 across the US, Citibank is the fourth largest financial institution in the United States. Its wide range of financial products include credit cards, mortgages, personal loans, lines of credit, checking and savings accounts.

How is Citibank rated?

Breakdown

4.0/5
Availability/Customer Service
4.0/5
Accounts Performance and Fees
4.0/5
Financial Strength

Overall Rating: 4 / 5 (Very good)

Usually the more choices one has, the better. But while many banks are going the route of simplifying their offerings, removing most maintenance fees, ATM fees, and minimum balances for all their customers, Citibank, on the other hand, seems to have one foot in the "new" way of banking and one foot in the traditional retail banking of old. Their banking packages combine a checking and a savings account into five different tiers of features and minimum balance requirements. For those who are taking advantage of a local Citi branch and additional Citi financial services, it is worth finding the package that best suits their needs and assets. But many will find it advantageous to look elsewhere for offerings that will not 'ding' them with fees for minimum balance requirements and other services. While Citi's mobile and internet banking products are full-featured, allowing customers to complete most standard transactions remotely, their reputation in customer support as a national bank is poor with only a fraction of consumer complaints resolved at the BBB.

Citibank General Banking Services

Availability/Customer Service - 4 / 5

Citibank currently offers five different banking "packages" that incorporate both checking (regular or interest) and savings components. The account packages are targeted to customers based on the combined average balance of a customer's linked Citi accounts, whether check writing is desired, and whether the customer wants to partake in Citi's ThankYou Rewards program. Choosing a package based on the balances of all of one's Citi accounts can earn the customer better rates, avoid fees, and provide access to additional services. While some customers may prefer having a variety of packages to choose from, those whose assets hover around the minimum balance will need to be vigilant of their account balances in order to avoid fees. The standard 0.04% interest for savings accounts translates to 40 cents annual return per $1000 -- Citi's tiny APY should not be a deciding factor. With over 700 branches in the US, consumers who value a physical office and personal relationships with their bankers may have a location near to their home.

Savings Accounts

Savings Account
Citigold; Citi Priority; The Citibank Account; Basic Banking; Access Account
Savings Account APY (Annual Percentage Yield)
0.04% for balances under $10,000
Savings Account Fees
Insufficient Balance Fee
Returned Deposit Fee
Overdraft Fee
Out of Network ATM Fee

Checking Accounts

Checking Account
Citigold; Citi Priority; The Citibank Account; Basic Banking; Access Account
Checking Account Fees
Expedited Delivery for Replacement Card Fee
Check Reorder Fee
Insufficient Funds Fee
Deposited Item Returned Fee

Additional Services

Cards
Credit Cards
Debit/ATM Cards
Loan Products
Personal Loans
Mortgages
Mortgage Refinance
Physical Branches
2,649 branches in 19 countries, including 723 branches in the United States
Rewards Programs/Special Offers
Citi ThankYou Rewards is a program that allows customers to earn "points" from purchases with Citi credit cards and checking accounts. Points can be applied towards the purchase of travel rewards, gift cards, or cash rewards.

Other Bank Accounts

CDs
Money Market Accounts
Brokerage Accounts
Retirement Accounts
IRA
Roth IRA
Accounts for Children
Sweep Accounts
Student Accounts
Joint Accounts

Citibank Digital Banking Services

Accounts Performance and Fees - 4 / 5

With Citibank's mobile app and their website, consumers can complete nearly all their regular banking transactions. Customers can transfer funds, pay bills, and receive account alerts when transactions are completed or funds dip to a certain level. In addition, the mobile app allows for check depositing by simply taking a picture of the check with your mobile device and Citibank also supports digital wallet payments via its Citi Pay app and MasterPass.
Mobile App
Yes
Mobile Features
Photo Check Deposit
Card Blocking
Digital Wallet Synching
Transfer Funds
Bill Pay
Online Banking Features
Direct Deposit
Online Bill Pay
Transfer Funds
Account Alerts (Text/Email)
Resources/Additional Features
Financial Advisor
Personal Assistance

Citibank Financial Strength and Reputation

Financial Strength - 4 / 5

Citibank receives an 'F' rating from the Better Business Bureau. While it is understandable that significantly larger banks receive proportionately higher amount of complaints, it is of concern that Citibank has let numerous complaints go unresolved. The complaints are for not only its retail banking products, but its credit products and mortgage loans. However, the company is deemed creditworthy, receiving an A1 rating from Moody's. This means that while Citibank has much room for improvement in its customer support reputation, as a financial institution, they are on solid ground.
Year Founded
1812
Moody's Financial Rating
A1
Live Help 24/7
Yes
Customer Support Hours
24/7
Contact Methods
Phone
Chat
BBB Rating
F
BBB Total Complaints
3952
BBB Resolved Complaints
931
Trustpilot Rating
6.1 out of 10
Consumer Financial Protection Board (CFPB) Complaints
4452
Date Collected
2018-09-17

Company Profile

Full Name
Citibank Banks
Company Website
Headquarters
388 Greenwich Street, New York, NY, 10013

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8 Customer Comments & Reviews

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Rick B
3/18/2024
I opened a Citi savings and Checking and deposited 2 checks from ubs. They held my funds almost 10 days. The next month I deposited my 2 checks, that I’ve been getting for 30+ years , and they put a week hold on one and then the other was supposed to be partially available in 2 days. On the second day I go online to see if it’s cleared and my account is locked out. I call and get sent to a fraud department and I’m told my account is being reviewed for 48 hrs. Worst bank ever!!!!


Deena G
12/1/2023
Absolutely the worst bank ever. I've been trying for 156 days (today) to have money from a check I deposited returned to either myself or the originating bank and noone is willing to assist me. I get the run around every time. I opened the account and your fraud/security closed the account without explanation and have been withholding the funds even though there has been ZERO dispute from the issuer.


Sara H
4/25/2021
I truly hated the way you treated me when, because of the Christmas mail and the Covid 19 which required only one person in the post office at a time, and some of us had to wait an hour or more in the cold to get to our P.O. Boxes, somehow your December bill got lost. I had 15 or 20 different people tag teaming me, screaming at me "give me your bank account number! I said no, I think this is a scam....I spent over an hour with your "team" , pretty much feeling as though I had robbed a bank, shot the president, and was of course the scum of the Earth. I don't guess anyone bothered to look up my credit rating, which was very high and you don't get that by not paying your bills. I hate... Read More


L
Leslie J
3/5/2021
Worst of all financial institutions I have ever dealt with! I was a Wells Fargo banking customer for 35+ years and wanted to change banks due to the alleged poor practices by Wells. I changed to Citibank for checking and savings it has been an unbelievably stressful experience since day one. I finally closed out my checking and savings accounts yesterday and am still trying to handle problems with them today. It has been a nightmare. Wells looks like an angelic entity now.


mhummer003
12/8/2020
For 32 years I have been a very happy and loyal customer with Citibank MC but something has gone terribly wrong there. Citibank customer service has become offensive and foul...a joke really. The agents apparently are no longer trained to handle problems or anything else, let alone with efficiency, so dealing with them at every level now is a COLOSSAL WASTE of time. Very unprofessional, and the more "senior" the worse they are....and not very bright....They used to be impressive, professional problem solvers. I feel REPULSED by their insincerity and lack of integrity and now I am eager to leave because they are careless and NO LONGER TRUSTWORTHY to do business with. Seems... Read More


Cindy C
10/19/2020
Worst bank ever!!! I would give a negative rating if it would let me. They run promotions and don't pay the promotional money after you've let your 15K sit in their bank for over 4 months. You try to call and takes 20 mins of press this and press that and you may get a person, then they hang up on you before you even get a chance to tell them what you think of them and their bank. So, you close your accounts with them and wait forever to get your money back (still don't have it).. Try to go to the website and it's not working, I've tried to use online chat and it has never worked.. Will be closing my MC with them also. Will NEVER deal with them again!!


lanebla2563
10/7/2019
Another nice and big citi location with so helpfull staff... A bit crowded but I can make up time for the wait


John S
5/20/2019
I obtained a Visa credit card from Citibank so I could use it at the local Costco store. When I telephone Citibank to inquire about opening an on-line account for the Visa card at Citibank, the representative asked me what was the first concert I went to (security question). I responded with the appropriate answer, but for whatever reason she did not like it (apparently I added the singer's last name when I should have used his first name only). Then she said the only other way to validate who I was for her to call me back on the telephone I was speaking from. I gave her the telephone number and instead of calling me on the telephone number I gave her, she called my wife's telephone... Read More



Top Rated
  • $0 minimum starting deposit
  • Checking account—earn 1% cash back on up to $3,000/m in debit purchases 
  • No monthly fees
  • Access to 60,000 free ATMs nationwide
  • High-yield money market and CDs