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Citibank Checking Account Review

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On March 29, 2013
Last modified:July 30, 2013

Summary:

Benefits: Thousands of branches and ATMs, quality products and services, excellent rewards, and sign up bonus. The only downside is fees if you don't meet minimums.

Sometimes bigger is better – especially when it brings you access to savings and deals not found with many other banks, which is the case with Citibank checking and savings accounts. Citigroup is listed by the Federal Reserve as the third largest bank by deposits in the US. What does that mean for the average user? Citibank’s size helps it achieve economies of scale and convenience for customers giving them thousands of convenient locations, free access to over 29,000 fee-free ATMs, free online bill pay, and more. And for a limited time, you can even earn up to $400 in bonus cash when you open a new Citibank checking account.

Citibank Checking Account Review

To qualify for the gift card bonus offer, you will need to be a new Citibank customer and open one of two qualifying accounts, the The Citibank® Account or The Citigold® Account. Both of these are premium checking accounts with a variety of beneficial features.

Both of these checking accounts offer access to over 29,000 fee-free ATMs nationwide, convenient brick and mortar locations, online banking, free online bill pay, free mobile banking with CitiMobile, online check images, paperless bank statements, and 24/7 customer support. They also offer customers the opportunity to earn ThankYou® Points, which can be redeemed for gift cards, discounts, and other rewards. To top it off, Citibank is a full-service bank, which offers customers checking accounts, savings and money market accounts, CDs, retirement accounts, mortgages, loans and lines of credit, Citi credit cards, and more. It truly is a one stop shop for a variety of banking and investment needs.

Citi Checking account bonus offerHere are some of the features found with a Citibank Checking account:

  • Over 30,000 fee-free ATMs nationwide
  • Free online bill payment with Citibank® Online
  • Free mobile banking withCiti MobileSM and Citibankfor iPad®
  • No monthly debit card fee for using your Citibank® Debit Card

Here is a brief overview of the two checking accounts eligible for the bonus ThankYou Points, which are redeemable for up to $400:

The Citibank® Account requires a $100 minimum deposit to open a new account and you will need to maintain a minimum combined average balance of $15,000 across a variety of Citi accounts to avoid a $20 monthly fee. The $15,000 minimum balance doesn’t need to be maintained entirely within your checking account – it can be the combined balance between any of the following linked accounts: your checking account, savings, money market account, CDs, retirement accounts, mortgages, loans and lines of credit, Citi credit cards, and more. The benefits of this account include no withdrawal fee from Non-Citibank ATMs, a free first order of standard checks, Citi® Identity Theft Solutions, Online and Mobile Fraud Protection, and you can earn ThankYou Points for making purchases with this account. Opening a new Citibank Account will qualify for 5,000 ThankYou Points, redeemable for a $200 gift card – details below.

The Citigold® Account offers additional benefits compared to the Citibank Account. The Citigold Account requires a $500 minimum opening deposit, and a $50,000 in deposits including retirement accounts, or $100,000 in combined balances, excluding 1st mortgage, to avoid a $30 monthly fee. This is an interest bearing checking account which features the same benefits as the above account, but it also features unlimited free standard checkbook orders (not just the first issue), preferred interest rates on selected products, $500 toward closing costs on a mortgage, discounts on outgoing wire transfers and foreign currency transactions, the highest number of ThankYou Points for a checking account, and access to Citi Personal Wealth Management Financial Advisors who can help you with all aspects of financial planning, including creating a diversified investment portfolio,buying a home, saving for college, retirement, and more. Opening a new Citigold Account will qualify for 10,000 ThankYou Points, redeemable for a $400 gift card – details below.

Up to $400 in Gift Cards With New Citibank Checking Account*

391455_Citi Checking 197x136 - up to $400 in gift cardsCitibank recently announced a limited time offer: New Citibank customers can earn up to a $400 cash bonus when they open an eligible Citibank checking account.

Here is how to earn up to $400 gift card bonus:

  • Open a new Citibank checking account in The Citigold®, Citibank® or Basic Banking® Account Package by 4/30/13.
  • Within 45 days after account opening, enroll the new checking account in Citi ThankYou® Rewards AND
  • Complete one direct deposit AND complete one qualifying bill payment for two consecutive months.*.

The award is given to eligible new account holders in the form of ThankYou® Points which can be redeemed for gift cards in the amount of $200 and $400, depending on which Citibank checking account you open. You can redeem your ThankYou® Points through www.thankyou.com to redeem gift cards in a variety of denominations.

About Citi ThankYou® Points

ThankYou® from Citibank offers customers many ways to earn points from everyday transactions which can then be turned into a variety of gifts, including gift cards, cash and travel vouchers. You can also earn bonus points for shopping at one of over 400 partner stores and when you make purchases online through the Citi portal at ThankYou.com. To start earning points, all you need is a qualifying Citi checking account or credit card.


Published or updated July 30, 2013.
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