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Citibank Priority Account Checking Accounts Review

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Founded in 1812, Citibank is a division of Citigroup, a provider of financial products to both consumers and businesses. With over 2,000 branches worldwide and over 700 across the nation, 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, and checking accounts. Citibank is headquartered in New York, and is FDIC insured.
 
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How is Citibank Priority Account rated?

Breakdown

4.7/5
Account Features
4.8/5
Fees and Restrictions
4.8/5
Support, Reputation, and Financials

Overall Rating: 4.7 / 5 (Excellent)

Citibank offers several checking accounts, each with its own set of additional services, fees, and privileges. Basic accounts offer free online payment, allow customers to move money between non-Citibank accounts, and give users access to a network of thousands of ATMs nationwide and internationally. Citibank also has a mobile app that allows users to manage their account and pay bills online while on-the-go. Citibank has a low rating from the BBB, primarily do to lack of responses to customer complaints, but has a good rating with Moody's regarding its creditworthiness. Citibank offers overdraft protection as well as reward points on purchases, depending on the type of checking account. Overall, Citibank caters to both online and physical branch customers, providing digital resources and ATM locations nationwide.

Citibank Priority Account Account Features

Account Features - 4.7 / 5

Citibank offers five distinct checking accounts ranging from business to personal. "Access Account" charges no overdraft fees, does not offer paper checks, and has a $10 monthly fee that can be waived if the account holder keeps a minimum balance of $1,500 in linked accounts or makes one qualifying direct deposit or bill payment. "Basic Banking" has the same minimum balance requirements but a $12 waivable fee. Customers can also get the monthly fee waived it the main account holder is 62 or older. With a $25 monthly waivable fee, "The Citibank Account" offers rewards points, no bank fee on out of network ATMs, and the ability to earn interest when requirements are met. "Citi Priority" has a waivable $30 fee and Financial Advisor available by phone. With a Priority account, customers can also receive preferred rates on other financial products, can complete online equity trades for a fee $9.95, and earn additional rewards. Finally, at the top of the tier is the "Citigold Package" account that, in addition to the benefits available to Priority members, offers a dedicated team of Financial Advisors, $4.95 equity trades, no monthly fee, but requires a combined average monthly balance of $200,000.
Types of Checking Accounts
Free Checking Accounts
Business Checking Accounts
Interest Bearing Checking Accounts
Methods of Deposits
ATM Deposit
Mobile Check Deposit
Physical Branch
Wire Transfer
Online Transfer
Direct Deposit
Integration with Other Online Accounts
Savings
No-Fee ATM
No-Fee at Network ATMs
Reimbursement for Domestic ATMs
ATM Locations
Nationwide
Branch Offices
With its headquarters in New York City, Citibank has an estimated 700 branches throughout the U.S., and over 1,800 overseas.

Interest (APY)

0.01%

Overdraft Protection

Account owners have the option to apply for overdraft protection, in which a $10 overdraft protection transfer fee is charged each day funds are transferred.
Integration with Mobile Payment Services
PayPal
Apple Pay
Google Pay
Zelle
SamsungPay
Pay Bills Online
Yes
EMV Chip Technology
Yes
Bank Checks
Yes
Mobile App
Yes

Bonus Features

Citibank waives monthly service fees for account owners over age 62. Account owners can also earn reward points and interest on their account balance (varies per checking account type).

Citibank Priority Account Fees and Restrictions

Fees and Restrictions - 4.8 / 5

In November 2017, Moody's Investors Services changed Citibank's outlook from stable to positive, which reflects the institution's solvency and a favorable risk management culture. BauerFinancial's 4-star rating is in tune with Moody's concerning the bank's positive outlook. Regarding regulatory actions against Citibank, the Consumer Financial Protection Bureau Complaints registers a number of complaints against the bank. The complaints we read mentioned problems with promotional sign-up bonuses. Thus, if customers are signing up to take advantage of a promotional offer, they should read the fine print and keep all documentation.
Maintenance Fee
$10 maintenance fee; fee is waived if receive monthly direct deposit, make a billy payment, or maintain minimum balance
Minimum Balance
$1,500 (for basic account packages)
Minimum Monthly Deposit
$0
Minimum Number of Transactions
0 (25/month if using interest-bearing account)
Maximum Number of Insufficient Funds Fees Per Day
not specified; $10 overdraft protection transfer fee each day
Other Fees
Check Reorder Fee
Stop Payment Fee

Citibank Priority Account Support, Reputation, and Financials

Support, Reputation, and Financials - 4.8 / 5

In addition to 700 brick and mortar locations throughout the U.S. and 1,800 around the world, Citibank Customers have 24/7 support via live chat and a phone line for international customers. Citibank's rating from the Better Business Bureau is significantly low due to lack of responding to customer online complaints. Citibank also has many online complaints regarding its credit and mortgage loans. However, the company is deemed creditworthy, receiving an A1 rating from Moody's.
BBB Rating
F
BBB Total Complaints
3,953
BBB Resolved Complaints
930
Trust Pilot Rating
3.5 out of 5
Consumer Financial Protection Board (CFPB) Complaints
4452
Date Collected
2018-07-21
Year Founded
1812
Moody's Financial Rating
A1
Live Help 24/7
Yes
Customer Support Hours
24/7 via live chat; phone hours not listed

Contact Methods

  • Phone
  • Chat

Company Profile

Full Name
Citibank Priority Account Checking Accounts
Company Website
https://online.citi.com/
Headquarters
388 Greenwich Street, New York, NY, 10013

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