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The two big national banks Chase and Citibank have similar products and fees (and ways to waive them), but they differ in some ways.
Consider what’s important in your banking life, whether that means nearby ATMs or branch access, and read on to see how the banks compare.
Snapshot comparison
Chase
Citibank
Checking accounts
Chase Total Checking®
Monthly fee: $12 (See below for three ways to waive it).
Minimum opening deposit: $0.
Citi Regular Checking (in Basic Banking package)
N/A.
Savings accounts
Chase Savings℠
APY: 0.01% effective as of 02/10/2023. Interest rates are variable and subject to change.
Monthly fee: $5 (See below for four ways to waive it).
Citi Savings (in Basic Banking package)
APY: 0.03%, may vary by state.
Monthly fee: $4.50 (See below for three ways to waive it).
Certificates of deposit
Chase CD interest rates
1-year: 0.01%.
5-year: 0.01%.
Minimum deposit: $1,000.
Citibank CD interest rates
1-year: 4.00%.
5-year: 2.00%.
Minimum deposit: $500.
Overdrafts, ATMs, customer service
Chase details
Overdraft fee: $34, maximum of three per day. No charge if account is overdrawn by $50 or less at end of day. Also no charge if the account is overdrawn more than $50 but the overdrawn balance is brought down to $50 or less by the end of the next business day.
Overdraft protection transfer fee: $0.
ATMs: More than 15,000.
Branches: More than 4,700.
Customer service: Available by phone (8 a.m.-12 a.m. ET, Monday-Friday, and 8 a.m.-8 p.m. ET on weekends), email and social media.
Citibank details
Overdraft fee: $0.
Overdraft protection transfer fee: $0.
ATMs: 60,000+.
Branches: Over 600 in the U.S.
Customer service: Available by phone 24/7, social media and messaging support (for existing customers).
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Unlike these brick-and-mortars, online banks don’t have thousands of branches. But they do have excellent annual percentage yields (APYs) that make your savings grow faster. And fees tend to be low or nonexistent.
0.01% effective as of 02/10/2023. Interest rates are variable and subject to change.
Rates may vary by state. In some, it's 0.03% APY for balances below $25,000.
Monthly fee
$5.
4 ways to waive it
Have a daily balance of $300 or more.
Set up an automatic transfer of $25 or more from Chase checking account.
Link this account to a College Checking account or a high-end checking account such as Chase Premier Plus Checking℠.
Note: Account owners younger than 18 don't have to pay a fee.
$4.50.
3 ways to waive it
Have at least a $500 average monthly balance.
Note: As part of the Basic Banking package, no monthly fee if you have a qualifying direct deposit and make a qualifying bill payment each statement period, or if you maintain a minimum $1,500 monthly balance across eligible linked accounts.
Note: Account owners age 62 and older don’t have to pay a fee.
Minimum deposit to open
$0.
$0.
Sign-up bonus
N/A
N/A
+ Click here for analysis of Chase and Citibank's savings accounts
Both have minimal interest rates, with Citi having a slight edge.
Click here for analysis of Chase and Citibank's CDs
Citi has generally better rates. To compare Citi's rates with other options, see our list of current CD rates. To see more detail about Chase’s offering, see our Chase CD rates review.
» Want better returns on your CD? See our list of best CD rates.
Chase vs. Citibank: Banking experience
Chase
Citibank
Branches
More than 4,700.
Over 600.
Banking apps (current ratings from app store users)
4.8 out of 5 stars for iOS.
4.4 out of 5 stars for Android.
4.9 out of 5 stars for iOS.
4.7 out of 5 stars for Android.
Customer service
Available by phone (8 a.m.-12 a.m. ET Monday-Friday, 8 a.m.-8 p.m. ET on weekends).
Email support available.
Social media support available.
Available by phone 24/7.
Social media support available.
Messaging support available (for existing customers).
Click here for analysis of Chase and Citibank's banking experience
Though similar in bank experience offerings, Chase has a far superior branch count. Citibank holds 1,800 branches internationally; consider this if you travel frequently and find yourself in need of branch services abroad.
Chase vs. Citibank: Overdraft fees
Chase
Citibank
Overdraft fee
$34, maximum of three per day. No charge if account is overdrawn by $50 or less at end of day. Also no overdraft fee if the account balance is overdrawn more than $50 but is brought down to being overdrawn by $50 or less by the end of the next business day.
$0.
Overdraft protection transfer fee
$0 per transfer.
$0.
Extended overdraft fee
None.
None.
+ Click here for analysis of Chase and Citibank's overdraft fees
Chase offers overdraft protection transfers for free and there's no fee if your account is overdrawn by $50 or less at the end of the day. When an account is overdrawn more than $50, customers can also avoid an overdraft fee if the account balance is brought down to being overdrawn by $50 or less by the end of the next business day. Otherwise, Chase charges an overdraft fee up to three times per day.
4.50%SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
4.50%4.50% APY for $0 to <$250k; 4.80% APY for $250k+ balance
Min. balance for APY
$0
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
5.50%*Current promotional rate; annual percentage yield (variable) is 5.50% as of 4/2/24, plus a .50% boost available as a special offer with qualifying deposit. Terms apply; if the base APY increases or decreases, you’ll get the .75% boost on the updated rate. Cash Reserve is only available to clients of Betterment LLC, which is not a bank; cash transfers to program banks conducted through clients’ brokerage accounts at Betterment Securities.
Min. balance for APY
$0
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
The information related to Citi checking and savings accounts has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.
