APY GUY: Maximize Your Savings & Earnings

Citibank

Citibank CD Rates – Now up to 5.97% APY!

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Citibank has been a household name for generations. They first opened their doors back in 1812, originally as the City bank of New York and today they are the 4th largest bank in the country by asset size with roughly $2.42 trillion in total.

On the savings side, Citibank has a full product suite of FDIC-insured deposit accounts with both fixed and variable interest rates.

For CDs (certificates of deposit), Citibank has:

  • 19 standard term CDs
  • 2 promotional CDs, and
  • 16 IRA CDs

Most of their CD rates are sitting at or below the national average for each respective term. To see if Citibank’s CDs are right for you, continue reading our review below.

Citibank CD Rates + Account Details

Citibank’s CDs have varying minimum deposit requirements by region. Most states will only have a $500 minimum deposit requirement, but some may have $1,000 or even $2,500. See our table below for a breakdown or proceed to Citi’s Fixed Rate CD page and enter your zip code.

You can apply for and open a Citibank CD online, however, if you plan on depositing more than $250,000 you must stop into one of Citibank’s 700 branch locations across 12 states. You can locate a branch here.

Citibank has 19 certificates of deposit terms to choose from ranging from 3 months to 5 years. If you are looking for IRA CDs they have 17 to choose from with terms also ranging from 3 months to 5 years but with some featuring higher yields than their standalone CD counterparts. You can see Citi’s IRA CD rates and account details further below.

Of the 19 CD terms Citibank offers, 3 are considered “Featured Rate” CDs. These are:

  • a 9 month CD yielding 4.05% or 4.75% APY
  • a 12 month CD yielding 4.05% APY
  • an 18 month CD yielding 4.05% APY

Citibank CDs are federally insured by the FDIC up to $250,000 per depositor or $500,000 for joint accounts. See all yields below.

CD Rates

TermAPY
3 months0.05%
4 months0.05%
5 months0.05%
6 months1.10%
7 months0.05%
8 months0.05%
9 months4.05%
9 months ($100k +)4.75%
10 months0.05%
11 months2.00%
11 months ($100k +)3.00%
12 months4.05%
13 months0.10%
14 months0.10%
15 months0.10%
18 months4.05%
2 years2.50%
30 months0.10%
3 years2.50%
4 years2.50%
5 years2.50%
APY = Annual Percentage Yield

As you can see they have mostly flat yields across all terms but are slowly introducing new featured rate CDs and promotional CDs that are far more competitive.

To give these yields some context, the current national average for a 12 month CD and a 5 year CD sit at 1.59% APY and 1.37% APY, respectively, according to recent FDIC data, with top yields from online banks inching over the 5.00% APY and 4.50% APY mark for the same respective terms.

Citibank Promotional CDs

Citibank also offers 2 promotional deposits. A “Step Up CD” and a “No Penalty CD.”

The Step Up CD is a 30 month deposit with a composite APY of 0.10%. You can read more about the terms and conditions here.

The No Penalty CD is a 12 month deposit that used to feature a decent APY last year, but is no longer competitive. Funds from this account may be withdrawn penalty-free at any time after six calendar days from opening the account. You can read more about the terms and conditions here.

Related: You may want to check out the Citi Accelerate Savings account which is available in select regions.

Promotional CD Rates

TermAPY
12 month No Penalty CD0.05%
30 month Step Up CD0.10%
APY = Annual Percentage Yield

Both the Step Up CD and the No Penalty CD come with minimum deposit requirements of $500.

Citibank IRA CDs

Citibank also offers IRA CDs. These IRA CDs only come with short terms and mostly have low yields other than the highlighted rates below. The highlighted 3 month, 6 month and 18 month (variable rate) IRA CDs feature some of the most competitive yields available anywhere in the country for those respective terms.

TermAPY
3 month5.18%
4 month0.05%
5 month0.05%
6 month5.23%
7 month0.05%
8 month0.05%
9 month5.18%
10 month0.05%
1 year5.07%
18 month Variable CD5.97%
13 month0.10%
18 month4.05%
2 year2.50%
30 month0.10%
3 year2.50%
4 year2.50%
5 year2.50%
APY = Annual Percentage Yield

Citibank introduced the promotional 18 month variable rate CD in the Spring of 2022 and it has been Citibank’s most competitive offer ever since. This is a variable rate, meaning it may change prior to maturity.

Minimum Deposit Requirements

As mentioned, the minimum deposit requirement for all Citibank CDs vary by region. Below is the breakdown.

StateMinimum Deposit
California, Nevada$1,000
Florida, Maryland, Virginia, D.C.$2,500
All other states$500

To open a Citibank CD online you must be a U.S. resident or citizen and at least 18 years old. You will need the following pieces of information to complete your application online:

  • Physical address
  • Date of Birth
  • Social Security Number
  • Email Address
  • Phone Number

To fund the account you will need the bank account number and routing number for the institution you will be transferring the funds from.

Interest on all Citibank CDs compounds daily. For CDs with terms of one year or less, interest is paid to you either monthly or upon maturity. And for CDs with terms longer than one year, interest is paid monthly.

How Much Can you Earn with a Citibank CD?

The amount you can earn on a Citibank CD is going to depend on 3 variables. These are:

  1. Deposit amount.
  2. APY (annual percentage yield).
  3. CD term.

To get a better understanding of your potential overall interest earnings from a Citi CD, we’ve compiled a table below of Citi’s best CD rates and total earnings from interest payments based on a $100,000 deposit.

CD TermAPYTotal Earnings
9 months4.75%$3,541.76
12 months4.05%$4,050.00
18 months4.05%$6,136.10
18 month variable CD (IRA only)5.97%$9,087.35
Total Earnings = Total interest paid for the duration of the CD.

How do Citibank’s CD Rates Compare?

Below are 3 tables comparing Citibank’s current CD rates with other large U.S. banks, popular FDIC-insured online banks and then brokered CDs offered through major brokerages.

Citibank’s CD Rates vs Other Big Banks

BankMin. DepositBest APY
Citibank$5005.97%
Bank of America$100,0004.60%
Chase$1,0004.00%
U.S. Bank$1,0004.75%
Wells Fargo$5,0004.76%
CD rates surveyed June 2, 2023.

Citibank’s CD Rates vs Online Banks

BankMin. DepositBest APY
Citibank$5005.97%
Barclaysnone4.80%
Bread Savings$5,0005.20%
CIT Bank$1,0005.00%
Discover Bank$2,5004.75%
CD rates surveyed June 2, 2023.

Citibank’s CD Rates vs Brokered CDs

InstitutionMin. DepositBest APY
Citibank$5005.97%
Charles Schwab$1,0005.50%
Edward Jones$1,0005.25%
Fidelity$1,0005.35%
Vanguard$1,0005.50%
CD rates surveyed June 2, 2023.

Early Withdrawal Penalties

TermPenalty
1 – 12 months90 days’ interest
13 months +180 days’ interest

Final Thoughts

Citibank’s CDs are quickly becoming more competitive with the addition of new promotional CDs for both regular and IRA accounts.

Citi Accelerate Savings – Now 3.85% APY!

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Citibank, the retail banking division of Citigroup, kept their high yield “Accelerate Savings” account competitive during the low rate environment we had prior to 2022.

Today, in our rising interest rate environment, the Citi Accelerate Savings rate remains well above the national average but Citi has struggled to be a rate leader as other online savings accounts have caught up and surpassed them.

Plus the fact that this account needs to be opened in conjunction with another Citibank account makes it more of a burden than other alternatives on the market.

To see if the Citi Accelerate Savings account is right for you, continue reading our review below.

Related: Citibank’s CD rates, while currently lower than what you can find with online banks, have the highest yields of all the big banks (Wells Fargo, Chase, Bank of America and US Bank).

Citi Accelerate Saving Account Rate + Details

image credit: citi.com

The Citi Accelerate Savings account is only available in select markets, however this market has expanded since Citi launched the account. As of January 2023, residents in all states except New York and select markets in Florida and Illinois are eligible.

Accelerate Saving Rate

Min. to earn APYAPY
$1.003.85%
APY = Annual Percentage Yield

đź“Ś Please note: This rate varies by region. The rate we’ve listed below is accurate in the regions we surveyed which included Florida, Pennsylvania, Colorado and Washington state. You’ll have to check your own individual zip code here to see the rate available in your region.

To put this yield into perspective, the current national average for a money market account and a savings account sit at just 0.44% APY and 0.33% APY, respectively, according to recent FDIC data.

That said, some of the highest yielding variable-rate accounts from FDIC-insured online banks and nationally available credit unions are now topping 4.00% APY.

Additional Citi Accounts Required

Prior to setting up your Citi Accelerate Savings Account you’ll need to first open one of Citibank’s 6 banking packages and meet some monthly requirements to avoid fees. Keep in mind there may be fees on both the checking side AND the Citi Accelerate Savings side if criteria isn’t met.

Below are the 6 packages to choose from. All come with the Citi Accelerate Savings Account:

  1. Citigold – For high net worth clients. In order to have a Citigold Account Package, you must have at least $200,000 across eligible linked deposit, retirement and investment accounts. There are no monthly service fees for Citigold clients on the checking or Accelerate Savings side.
  2. Citi Priority – Also tailored to higher net worth individuals or joint account holders. Package includes a regular or interest checking account and Citi Accelerate Savings Account upon opening. Must maintain a combined average monthly balance of $50,000+ in eligible linked deposit, retirement and investment accounts to avoid a $30 monthly service fee.
  3. The Citibank Account – Package includes a standalone Citi Accelerate Savings Account upon opening. Link to a regular or interest checking account and maintain required balances to help avoid monthly service fees. Must maintain a combined average monthly balance of $10,000+ in eligible linked deposit, retirement and investment accounts to avoid a $25 monthly service fee.
  4. Citi Elevate Account – Package includes an interest checking account and Citi Accelerate Savings Account upon opening. To avoid a $15 fee on the checking side, you’ll need to keep a monthly balance of at least $5,000. If your Citi Accelerate account is not linked to your checking account you’ll need to maintain a $500 average balance in it to avoid a $4.50 monthly fee.
  5. Basic Banking/Access Account – Package includes a standalone Citi Accelerate Savings Account upon opening. To avoid a $12 monthly service fee, you must either make one qualifying direct deposit AND one qualifying bill payment per statement period OR maintain a combined monthly average of $1,500 in linked accounts. As with the Elevate Account, if your Citi Accelerate account is not linked to your checking account you’ll need to maintain a $500 average balance in it to avoid a $4.50 monthly fee.

Compounding and Crediting Interest

Interest is compounded daily and paid to your account monthly.

Accessing Your Money

Citi customers have free access to more than 65,000 ATMs as well as 723 branches here in the United States alone. There are also plenty of online options to access and manage your money.

Citibank has taken pride in building industry-leading digital banking products and tools. In 2018 Citibank was named (again) as the “World’s Best Digital Bank” by Global Finance.

Once you have your username and password, you can login anytime, anywhere to your account here.

You can also download their native app(s) on IOS or the Google Play Store.

image credit: apple.com

The app has over 3.3 million user reviews on IOS and holds a 4.9 star rating out of 5.

The app has over 942,000 user reviews on Google Play and holds a 4.8 star rating out of 5.

Depositing Funds

There are a number of ways to deposit funds into your Citi Accelerate Savings account. These include:

  • ATM deposit
  • Direct Deposit
  • Check by Mail
  • Electronic bank transfer
  • Local Citi branch
  • Mobile Deposit
  • Wire transfer

Funds from Citi savings account deposits are typically available immediately if made before cutoff times around 6-7pm EST. Any deposit made after this time is generally available the next business day.

Withdrawing Funds

If you would like to withdraw funds from your Citi Accelerate Savings account, first transfer them to your Citi checking account that was required upon opening. You can do this via the Citi apps (links provided above), online, over the phone or at a local branch.

Once the money is in your Citi checking account you can withdraw cash at a local ATM with the debit card that came with your checking account. You can also perform a wire transfer or electronic bank transfer just be sure to take note of the associated fees that may come with these services.

Citi Accelerate Savings Account FAQs

Still have questions about the Citi Accelerate Savings account? See what other consumers are asking around the web along with our responses below.

Is the Citi Accelerate Savings Account FDIC-insured?

Yes. Citibank is member FDIC and deposits held in all Citibank accounts (cumulatively) are federally insured up to $250,000 per depositor.

How can I close my Citi Accelerate Savings Account?

The easiest way to close the account is to speak with your account manager and get the required form needed. Once you’ve filled out the account closure form, return it to your representative and transfer the remaining funds out of the account to $0 the balance.

Citibank Checking Account Bonuses – $300, $700 and $1,500!

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Citibank Checking Account Bonuses – $300, $700, or $1,500!

If you’re in the market for a new checking account and looking to cash in on some sign-up bonuses, you may want to check out Citibank’s current checking account promotions.

Citibank is blowing other new account offers out of the water with its extremely competitive bonuses, with new customers qualifying for either $300, $700, or $1,500 when signing up and meeting funding and balance requirements in the first three months.

Find out here how to qualify for a bonus offer of up to $1,500 as a new checking account customer at Citibank.

How to Get $300, $700, and $1,500

Right now through July 17th, 2022, new customers are eligible to receive $300, $700, or $1,500 when they open a qualifying checking account with Citibank and meet the deposit and balance requirements.

The cash bonus you qualify for is determined by how much you deposit into your account when signing up. Here are the details:

  • If you make a deposit of at least $15,000 within 20 days of opening your account and maintain this balance for at least 60 days after that, you will be eligible for the $300 bonus. 
  • If you make a deposit of at least $50,000 within 20 days of opening your account and maintain this balance for at least 60 days after that, you will be eligible for the $700 bonus.
  • If you make a deposit of at least $200,000 within 20 days of opening your account and maintain this balance for at least 60 days after that, you will be eligible for the $1,500 bonus.

There are no additional requirements. You cannot increase your bonus by adding more money to your account after the 20 days are up. Your balance on the 20th day is used to lock in your offer. Your bonus will be deposited into your account automatically within 90 calendar days of meeting the requirements.

To qualify, make sure you use this link to sign up for a new account if doing so online or register for the offer and bring your coupon with you when applying in person. As long as you open your new account by July 17th, 2022, you can be eligible for a bonus.

The money you use to fund your account cannot come from another Citi checking or savings account if you want a bonus–it needs to be new to Citi. You can not qualify for an account bonus if you are already a Citibank checking account customer, if you have owned a Citi account in the last 180 days (including closed accounts), or if you are under 18 years old.

There are four different checking accounts that you can open that qualify for a bonus:

  • Citibank Account
  • Citi Priority Account
  • Basic Banking Account
  • Citigold Account

These accounts range from very basic checking accounts to relationship checking account packages that include customer service upgrades, enhanced banking features, and a variety of financial and travel perks. 

The terms for qualifying for the account bonus are the same for all of the above account types, but each account has its own deposit requirements and maintenance fees to consider. Find out here which one is right for you.

Citibank Account

This account has a $25 monthly maintenance fee that is waived when you maintain an average monthly balance of at least $10,000 across your deposit and investment accounts. There is no minimum opening deposit required to open an account. 

To qualify for the bonus, you need to deposit anywhere from $15,000 to $200,000 into this account within the first 20 days of opening it. If you do not deposit anything within 90 days of opening, your account may be closed at Citi’s discretion (this is true of every account).

This is technically an interest-bearing checking account, but it currently earns an APY of just 0.01%. If you want to earn more, the Citibank savings account earns 0.60% right now. Note that this is the current interest rate for all banking packages.

It’s optional, but if you link your savings account with this account, you will not pay a monthly maintenance fee for it. If you don’t link the two, the maintenance fee for the savings account is $25. This is also waived if you maintain an average collective balance of at least $10,000 each month. There is no minimum opening deposit requirement for any Citibank savings account.

There are no fees when you use your debit card at one of more than 65,000 transaction-free ATMs in the Citi network. If you use an out-of-network ATM, you will pay a $2.50 transaction fee each time or you can waive this fee by maintaining a balance of at least $10,000. Basically, if your balance is over $10,000 you’ll avoid the fee on your checking and savings account, if you have one, and won’t have to pay to use out-of-network ATMs. Also, if you incur third-party fees when using non-Citi ATMs, you qualify for unlimited reimbursements with this account.

This account comes with paperless statements, check writing capabilities with the first checkbook order free, and bill pay features. With this account, you can also enroll in ThankYou Rewards. Select checking accounts are eligible to enroll in this program, which allows you to earn points for credit card use and checking account activities. 

For example, when you receive a qualifying direct deposit into your checking account, save with a linked savings account, or pay a bill out of this account, you will earn reward points at whatever rate is currently available. If you also have a Citi credit card that qualifies, you can earn points for both.

Rewards points can be redeemed for travel such as airfare and hotel stays, gift cards, or even cashed out in the form of a statement credit.

Citi Priority Account

This account has a $30 monthly maintenance fee that is waived when you maintain an average monthly balance of at least $50,000 across all of your linked deposit and investment accounts. There is no minimum deposit required when opening an account.

This checking account comes with many additional perks. These include but are not limited to rate discounts on loan products, no foreign exchange fees when making transactions abroad, and travel and global benefits such as waived international ATM fees. 

There is also no fee for using out-of-network ATMs regardless of your balance and you can order standard checks free of charge.

Citi Priority checking customers are also eligible for Citi Wealth Management perks such as a waiver for the annual fee for Citi Personal Wealth Management Investment accounts and no advisory fee for your first Citi Wealth Builder account (other fees still apply) To qualify to have these fees waived, you must link your wealth management accounts with this checking account.

The Citi Priority checking account earns an interest rate of 0.01% on all balances. Note that the Citi Priority savings account can only be opened when you have a Citi Priority checking account. There is no maintenance fee for this when the two accounts are linked.

This account is also eligible for the ThankYou Rewards program.

Basic Banking Account

The monthly maintenance fee for this account is $12, but there are three different ways to waive it. You can:

  • Make one qualifying direct deposit plus one qualifying bill payment (both one-time and recurring payments can qualify as long as they are not made via check or internal transfer) per month
  • Maintain an average monthly balance of at least $1,500 between this account, linked savings accounts, and linked money market accounts (other accounts do not count)
  • Be over 62 years old and the first account owner listed for this account

This is a really basic product that doesn’t have a lot of benefits or features. It does not pay interest, is not eligible for the ThankYou Rewards program, and does not offer a fee waiver for out-of-network ATM transactions (unless the first listed account owner is over the age of 62). There are also no travel benefits or financial guidance perks/discounts. 

Overall, this account would probably be best for younger individuals or those planning to keep a lower balance, because it’s not particularly rewarding beyond just giving you a safe place to store your money.

Citigold Account

The Citigold account is a premium checking account offered only to those who are already Citigold members.

Essentially, Citigold is a form of priority membership with Citibank. As a Citigold member, you will get access to dedicated support and wealth management services exclusively for Citigold clients. It’s an elevated customer service and banking experience for higher net-worth individuals who do a large majority of their banking with Citibank.

As you might expect, it is much harder to qualify for Citigold than it is to just open a checking account. To be eligible for Citigold membership, you need to have a combined balance across your deposit and investment accounts of at least $200,000.

This account does not have a minimum opening deposit requirement and does not charge a monthly maintenance fee.

However, you do need to meet eligibility requirements each month in order to remain a Citigold client and keep your account. There is no charge for Citigold membership. If you are found to be ineligible, this checking account will be closed.

There are no fees for using out-of-network ATMs, no fees for standard checkbook orders or for non-standard checkbook orders (when you maintain a balance of at least $500,000 across your accounts), and unlimited reimbursement of third-party fees you may incur using non-Citi ATMs. The foreign transaction fee is waived when you use this debit card internationally and you will get preferred rates on loans and mortgages.

Benefits of Citigold membership include complimentary wealth management services such as financial planning and a complimentary Citi Wealth Builder account (after your first, you will pay a fee for each). Citigold members also enjoy customer service privileges such as access to a dedicated Citigold Concierge who can assist with travel bookings and help you make reservations and a team of representatives who can answer questions about your accounts and help you understand the benefits of Citigold membership. 

Plus, Citigold members are eligible for product and service rebates valued at around $200 per year. This includes memberships and subscriptions, such as streaming services, purchased online using your invitation from Citi.

The Citigold package can include a variety of account types including checking, savings, investment, retirement, and wealth management accounts. But to open any of these, you need to have the Citigold checking account first. The Citigold savings account pays an interest rate of 0.60%. In addition, this checking account earns an interest rate of 0.01% on your entire balance.

This checking account is also eligible for the ThankYou Rewards program.

Final Thoughts

With such great account bonuses, opening a new Citi checking account could be a smart move for you if you can afford it. There are a lot of perks to many of Citibank’s eligible banking “packages” that can help you save money and make your life easier. In particular, we recommend the Citibank and Citi Priority checking accounts. 

That said, $15,000 is a significant amount of money and these bonuses are harder to qualify for than most. If you can’t make this deposit minimum work, you may be eligible for a bonus with another bank by meeting direct deposit or transaction requirements after opening.

Citi Personal Wealth Management Review

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When you think of wealth management accounts, you might think of large investing-focused firms like Edward Jones, J.P. Morgan, and Wells Fargo. But today, we’re talking about a big bank known for its deposit accounts: Citibank. Specifically, what this institution brings to the table for personal wealth management.

We’re bringing you an in-depth review of the Citi Personal Wealth Management account. Read everything you need to know about this account. Is it going to be the next step in your investment strategy?

Background

Citi is responsible for managing over $282 billion in assets as of 2022. Also called Citigroup, this global corporation reported $17 billion in revenue in Q4 2021 and $71.9 billion for the year.

Citibank, the consumer division of Citi, was named the world’s best supply chain finance bank at the Global Finance Trade Finance Awards. Founded in 1964, Citi Personal Wealth Management offers investment products through Citigroup Global Markets Inc. (CGMI), member SIPC. 

Citi Personal Wealth Management provides wealth management services through Synergy Advisors Group. You can read more about this group here.

You do not need to be a high-net-worth individual or experienced investor to get started. Find out here if Citi’s personal wealth management division is right for you.

How It Works

You can register for a personal wealth management account with Citi whether you are a new or existing user. 

But the depth of financial advising you qualify for depends on which investment program you are a part of (if any). This is determined by how much money you have in Citi accounts (whether checking and savings accounts or investing and retirement accounts).

Account Types

The three different investment programs within Citi Personal Wealth Management are Citigold, Citigold Private Client, and Citi Priority.

Citigold

To qualify for Citigold, you have to maintain a minimum combined average monthly balance of $200,000 across all of your linked deposit and investment accounts with Citibank. As a Citigold member, you have a personal Citigold Relationship Manager who serves as your personal point of contact and can assist you with general questions and account help.

You also have a Citi Personal Wealth Management Wealth Advisor as a Citigold client who is dedicated to providing you with customized financial advice based on your investment goals. They can provide as much or as little support as you need when making decisions about your account. 

Citigold membership also includes access to The Citigold Concierge, an exclusive assistance service that is available 24/7 to help you make restaurant reservations, purchase tickets for events, and even book travel through a full-service travel agency. Citigold also comes with benefits such as waived foreign exchange fees and access to Citigold lounges.

Citigold Private Client

As a Citigold Private Client, you receive all of the perks of Citigold membership plus premier banking and investing services. These include access to advanced wealth specialists and wealth planning services, higher movement limits and Mastercard World Debit Card benefits, premier investing products and advisory reserved for high-net-worth investors, and additional wealth planning selections.

To qualify for Citigold Private Client, you have to maintain a minimum combined average monthly balance of at least $1,000,000 across all of your linked deposit and investment accounts (including retirement accounts).

As a Private Client, you will have a wealth team made up of a Citi Personal Wealth Management Wealth Advisor and a Relationship Manager to help you navigate both investing and your relationship with Citi. Private Clients also have access to a member-only phone line that is available 24/7. 

Other benefits include lifestyle perks and extra financial planning services for Personal Wealth Management and other investments. You do not have to pay a monthly service fee to be a Private Client.

Citi Priority

The third personal wealth management investing package is Citi Priority. There is no minimum balance requirement to qualify for Citi Priority, making this the most accessible option. However, there is a $30 monthly service fee, and the only way to waive it is to maintain a minimum average monthly balance of at least $50,000 across all of your accounts. 

The benefits of Citi Priority include preferred banking solutions such as commission-free trading with Citi Personal Wealth Management, travel perks, and financial guidance from Citi Priority Advisors whenever you need it. 

Citi Self Invest

If you’re looking for an alternative to these personal wealth management options, you might consider a self-directed account.

Self Invest is Citi’s self-directed investing platform. It offers $0 commissions and has no account minimum or opening deposit requirements. You can make unlimited investments in assets such as stocks, mutual funds, and ETFs with no trade fees.

Self Invest is a newer offering introduced in 2021. You do not need to be a priority client of any kind to qualify to open this account, just an existing Citi member or joint account owner. You will not receive financial advising or wealth management services with Self Invest.

Features and Benefits

Citi Personal Wealth Management offers a user-friendly experience overall and a variety of investment options. 

You can view your portfolio by logging into your account and selecting “Portfolio” to view all of your balances and investments. You can see an overview of your activity, a snapshot of the balances across your account, and all of your holdings as well as your realized and unrealized gains/losses, history, and projected cash flow given your current investment composition.

If you’d like to open a new trade, you can do so by clicking “Transact” from the home page and selecting “New Order.” Citi Personal Wealth Management offers a number of trade options including: 

  • Equity trades
  • Mutual fund trades
  • Option trades
  • Fixed income trades 
  • 529 plan allocation

You will be able to see the funds you have available to trade in your account at this time and can increase or decrease your investments as needed (consult with your advisor for personalized advice). 

As with any investment account, you can be as active or inactive as you choose, but Citi’s offering allows you to enable many automatic notifications such as Market Alerts and Watchlist Alerts to help you stay in the loop even when you step away from your account.

If you ever have a question about your account or a trade you are thinking of making, you can find the contact information for your financial team by logging into the online platform or app and viewing an account statement.

Robo Advisor

Looking for a different option that charges fewer fees and offers lower investment minimums? Citi Personal Wealth Management also has a robo advisor called Citi Wealth Builder. You can start investing with this account with as little as $1,000 or $10,000 depending on the investing style you use.

To start, you can choose from three different investment styles to build your portfolio. These are Track an Index (where you will invest primarily in passively managed ETFs), Integrate Sustainability Criteria (where you will invest in assets that meet Environmental, Social and Governance criteria), and Incorporate Active Management (where you will invest in a combination of active and passive mutual fund and ETF holdings. Here is how many portfolios are available and the minimum investment for each: 

  • Track an Index: 6 portfolios, $1,000 minimum
  • Integrate Sustainability Criteria: 5 portfolios, $10,000 minimum
  • Incorporate Active Management: 5 portfolios, $10,000 minimum

There is a 0.25% advisory fee that is waived if you have a Citigold or Citi Priority account (note that you can only waive the fee for up to one linked account). 

This account requires that you have a Citi Individual or Joint Checking account to open. 

Fees

There are no monthly service fees for using Citi’s personal wealth management, but you will pay fees as a percentage of your trades for portfolio management. These are determined by the type of assets you have in your portfolio and their balance tier but typically fall within the 0.60% to 2% range. Generally, the average fee for investment advisory is around 1%, so these rates are on the slightly high end of typical.

For example, the fee for the first $500,000 you put into equity accounts is 2.0% and for the first $500,000 you put into fixed-income accounts is 1.00%. These percentages decrease as your balance increases. There will also be third-party trading fees for securities such as ETFs and mutual funds.

You do not pay any additional fees for financial planning services as these are automatically included with whatever package you qualify for.

To get a more complete picture of fees based on AUM (assets under management) take a loot at the tables below:

Equity Accounts
AUMFee
1st $500,0002.00%
2nd $500,0001.50%
3rd $2,000,0001.25%
> $3,000,0001.00%
Fixed-Income Accounts
AUMFee
1st $500,0001.00%
2nd $500,0000.90%
3rd $2,000,0000.75%
> $3,000,0000.60%

Pros and Cons

So how does this account compare to others like it?

Citi offers lower minimum investment options than many other firms. Many accounts can be opened with as little as $25,000 which is below average for this type of account and especially low when you consider that advising services are included.

One of the main advantages of this account is the wide range of investment options you can choose from. You can use this account for general investment and wealth protection or you can use it to save for retirement or plan for your child’s education. You have the choice between using a single investing strategy across all of your accounts or using multiple different investing strategies to build your perfect portfolio. Overall, Citi’s personal wealth department offers a much more complete investing package than the average account with a lot of flexibility.

As for the fees, these are decent. You’d probably save money using a robo-advisor, but this is probably not going to be as flexible or offer as much in the way of investment choices and guidance. This is a good choice for people looking to save money.

Now onto the disadvantages. The biggest one is that you have to have a very high net worth to qualify for all of the advising and planning services Citi offers. The Citi Private Client package is packed with valuable–and free–benefits from banking and investment perks to premier personal wealth management and advisory services, but few will qualify for this account. 

Citi Priority, the option that’s going to be available to a much wider range of investors, is still a good package, but it might not offer the level of advising and management that you’re looking for. You can pay for additional services, but this can cost up to 0.50% on top of whatever fees you’re already paying.

Some users also complain that the online platform isn’t as easy to use and comprehensive as it could be, but it’s not bad for a brokerage.

How to Open an Account

To open an account as an existing Citi user, just register with your User ID and verify your identity using the online form. This is the same ID you use to access your accounts online. Alternatively, you can ask your banker to help you get set up the next time you go into your branch. If you want to meet with your advisor in person, be sure that a branch near you offers on-site advisory services.

If you’re not already a Citi customer, consider the pros and cons of moving any of your money over to Citi checking and savings accounts to avoid fees or qualify for a higher personal wealth management package.

Final Thoughts 

Overall, Citi’s Personal Wealth Management is a really solid option for both low and high-net-worth individuals. Whether you’re looking to protect your wealth or take a more aggressive approach, you should be able to find what you need with Citi. The management fees are reasonable for the level and quality of service you receive. 

High net worth investors are going to get the most out of this account, but it’s a good all-around option for newbies too. This might not be the firm for you if you’re looking for a personal wealth management account with really low balance requirements and minimum investments.Â