"Are You a CEO, Director, or Founder interested in a Feature Interview?"
All Interviews are 100% FREE of Charge
Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Chase and Citi are two notable national banks with branches widely available in the US. If you don’t live near a bank location, you may also open accounts online.
To help you determine which bank might be a better fit for you, we’ve compared checking accounts, savings accounts, and CDs. We’re also reviewing financial institutions in trustworthiness so you can know more about each institution’s history.
See Insider’s best national banks>>
Compare Citi and Chase
$200 checking account bonus on Chase Total Checking
High interest rate on Citi Accelerate Savings
Pros and Cons of Citi
Pros and Cons of Chase
Citi vs. Chase Checking Account Comparisons
Chase and Citi have multiple checking accounts. Below, we’ve compared two popular checking accounts with minimal bank fees.
Citi Access Checking
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Fees
$5 monthly service fee
Citi Access Checking
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Fees
$5 monthly service fee
Citi Access Checking
Details
Fees
$5 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Citi vs. Chase Savings Account Comparisons
Citi offers two savings accounts — Citi® Accelerate Savings and the Citi® Savings Access. Chase has a traditional savings account and premium savings account with a slightly higher interest rate.
We’ve compared the Citi® Accelerate Savings to the Chase Savings℠ since these accounts are available in most states and have similar monthly service fees.
Citi® Accelerate Savings
Annual Percentage Yield (APY)
4.25% (vary by location)
Minimum Deposit Amount
$0
Fees
$4.50 monthly service fee
Citi® Accelerate Savings
Annual Percentage Yield (APY)
4.25% (vary by location)
Minimum Deposit Amount
$0
Fees
$4.50 monthly service fee
Citi® Accelerate Savings
You might like Citi if you live in one of the areas that offers the Citi® Accelerate Savings account, so you can earn a higher savings rate than the national average. The best high-yield savings accounts, however, offer even more competitive savings rates.
Details
Fees
$4.50 monthly service fee
Annual Percentage Yield (APY)
4.25% (vary by location)
Minimum Deposit Amount
$0
Citi vs. Chase CD Comparisons
Citi Fixed Rate CD
Annual Percentage Yield (APY)
0.05% to 4.90%
Minimum Deposit Amount
$500
Citi Fixed Rate CD
Annual Percentage Yield (APY)
0.05% to 4.90%
Minimum Deposit Amount
$500
Citi Fixed Rate CD
Citi might be a decent option for a traditional 9-month, 1-year, or 15-month term. It also offers a good no-penalty CD rate. That said, Citi CD rates are overall low compared to the best online banks and credit unions.
Details
Annual Percentage Yield (APY)
0.05% to 4.90%
Minimum Deposit Amount
$500
Which Bank is More Trustworthy?
We use ratings from the Better Business Bureau to evaluate how a bank deals with customer issues.
The BBB gave JP Morgan Chase & Co. (Chase’s parent company) an A+ rating. Keep in mind a good BBB rating won’t guarantee that you’ll have a smooth relationship with a bank. Also consider talking to current customers or reading online customer reviews.
That said, JP Morgan Chase & Co. has been involved in a few recent public settlements. Here are recent cases with JP Morgan Chase & Co.:
Meanwhile, Citi has an F rating because it’s received a high volume of customer complaints and had government action taken against the business.
Citi has been in the following public scandals:
- In 2020, the bank was required to pay $400 million in a settlement with the Comptroller of the Currency. The OCC stated the bank had inefficient banking practices.
Citi vs Chase FAQS
Your preference between these two banks may likely come down to where you live. For example, the Citi® Accelerate Savings is a solid high-yield savings account option, but it isn’t available in California, Connecticut, Illinois, Maryland, Nevada, New Jersey, New York, Virginia, Washington, DC, and select parts of Florida and Puerto Rico. If you live in one of these states, you’ll have to compare the Citi® Savings Access with Chase’s savings accounts and see which institution you prefer.
Chase has more than 4,700 branches in the US, while Citi has over 690 locations. You’ll still be able to open online bank accounts if you don’t live near a branch.
SoFi Checking and Savings
Eligible customers can earn up to $250 with direct deposit through 12/31/2023. Plus, earn up to 4.50% APY on savings accounts with qualifying activities.
Author
"Elevate Your Brand with an Exclusive Feature Interview!"
