Fees and charges associated with the Citibank checking and savings accounts
In search for a new bank account to store, save or spend your hard-earned money? Be warned! Behind those bright billboards of smiling grandmas in newly outfitted veneers lie a labyrinth of hidden fees. Large banks want you to believe that their accounts are free and easy to use. Dig deeper and you’ll find more than fifteen different charges waiting to entrap you - from monthly maintenance fees to overdraft and wire transfer fees.
But fret not champ! We’re here to help. Read on to understand all the fees associated with the Citibank account.
Citibank Account Packages
Citibank provides a unique offering in the banking ecosystem by bundling both their checking and savings propositions under five packages, namely;
Citi Access Account - Entry level banking without overdraft facility
Citi Basic Banking - No-frills checking and savings
The Citibank Account - Full-feature banking with APY generating accounts, higher entry limits and access to Citi's Thank You Rewards
Citi Priority - Priority banking, dedicated support and access to wealth management tools
Citigold - Personal wealth management with $200k+ minimum balance requirement
Citibank Wire Transfer Fees
Incoming domestic wire transfer fee → $15
Incoming international wire transfer fee → $15
Outgoing domestic wire transfer fee → $35
Outgoing international wire transfer fee → $45
Citibank Additional Fees & Charges
Overdraft Fee - $34 per overdraft.
Insufficient Funds Fee - Unlike overdraft, the NSF fee is charged when a payment is returned due to insufficient balance. Standard fee of $34 per returned item across all applicable accounts.
ATM Withdrawal Fee - $2.50 for out-of-network withdrawals and $5 for international withdrawals.
International Transaction Fee -3% on all foreign transactions. Waived for Priority and Gold customers.
Cashiers Check Fee -$10 per check. Waived for Priority and Gold customers.
While Citibank offers extensive branch and ATM coverage, near-zero interest rates and a bevy of hidden charges make their basic checking and savings accounts an expensive proposition.
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Imad is a member of the product team at OnJuno, a cross border neo banking platform. Passionate about the history of money and banking, he hopes to use the context of the past to build fairer financial products for all.
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The OnJuno Checking Account and Debit Card are part of an offering of CAPITALJ Inc ("OnJuno") and Evolve Bank and Trust, Member FDIC. Your deposits at each Bank are eligible for insurance by the Federal Deposit Insurance Corporation (FDIC) up to $250,000, subject to FDIC rules on aggregation of deposits held in the same insurable capacity. Please visit the FDIC website. Neither OnJuno by CAPITALJ Inc. nor any of its subsidiaries is a Bank.