The Citigroup Account is one of several options for those looking for affordable, practical financial services for everyday use and with rewards, especially welcome bonuses.
The group is one of the most traditional in America, and has several accounts based on relationship level, with benefits that vary for each client. So, learn more about the main alternatives and see if this service is a good fit for you!
Types of Accounts at CitiGroup
Citigroup currently offers these types of checking accounts:
- Access Checking (checkless)
- Regular Checking (with unlimited checks)
- Citi Priority
- Citigold
- Citigold Private Client
In other words, each profile can fit into a different category, with its own benefits, but also its own fees.
What Does Each Account Offer?
Starting with Access Checking, this is a simpler service, with no overdraft fees, but it also does not offer checks. It is recommended as the holder’s first digital checking account, such as young people who are starting their financial journey.
Meanwhile, the Regular Checking Account from Citigroup offers unlimited checks, with the appropriate market standard rates. It also offers a debit card and some access to rewards programs.
For those looking for something more elaborate and without fees, the Citi Priority has no monthly maintenance or withdrawal fees, in addition to having access to checks and income from the balance in the account. On the other hand, it is less accessible, and limited to people who already have some type of service with Citigroup.
The Citigold model offers the same access as the Priority, but with an additional ATM reimbursement from other banks, and has a partnership with subscriptions, such as Spotify and Hulu, with a margin of up to $200 per year.
Finally, the Citigold Private Client account has the best advantages of the bank, with additional perks, an exclusive manager and no monthly fees. However, it usually serves clients with assets above 1 million.
Citigroup Account Fees
Just like the benefits, the Citigroup Account fees also vary according to the category, but are more standardized. It is worth noting that these averages change depending on the period and region. It is worth checking the rate updates directly at your branch.
Starting with Access Checking, it has a free maintenance fee for the first 3 months or from $250 in deposits. If you maintain a balance above $1,500 daily, the amount is also waived. If not, it charges $5 per month. For Regular Checking, the same criteria apply, but with a monthly charge of $15.
Meanwhile, for the Citi Priority Account, the monthly amount is $30, but it is waived with a combined balance of $30,000, counting income, investments and value in the account.
Citigold and Citigold Private Client accounts are waived, but only because they meet profiles with over $200,000 in assets and transactions.
In addition, other common fees include a $2.50 ATM withdrawal fee, a 3% exchange rate for international debits, and an overdraft per returned item of $34, which is also waived for the higher categories. Wire transfers charge $15 for incoming and $35 for international transfers.
Bonuses and Rewards
The Citigroup Account has different types of rewards. Its Welcome Bonus is $300 when you open an account in the Access or Regular category and move between $3,000 and $6,000 in the first 90 days.
In addition, people with an annual salary above $30,000 can qualify for the premium category, with no fees on most transactions.
There is also a referral program, where holders earn money for referring other customers. The amounts are $200 for those who refer a new Access Checking Account customer, and $250 for Regular Checking.
Citigroup Gold and Priority offer discounts on partner travel programs and waive exchange rates outside the United States. Those with some assets can participate in points accumulation and exclusive promotions.
Is It Worth Opening an Citigroup Account?
With a wide variety of offers, there is an account at Citigroup for everyone, from simple and digital services to premium categories with many advantages and exclusive treatment. So, you will certainly find a product that matches your current profile.
However, it is worth mentioning that there is no direct Citigroup points program, and the fees have different criteria for exemption. With this in mind, and knowing that the most advantageous accounts are high-level and exclusive, it is possible to consider Citigroup to open your new account.
All information in this and other BOISLA articles is subject to change over time. Please check for updates directly with the institutions and companies mentioned. Approval is subject to the institution’s review.
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