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Citibank vs. Wells Fargo: Which Is Best for You?

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Updated · 1 min read
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Senior Writer & Content Strategist
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Edited by 
Assigning Editor - Banking

Citibank and Wells Fargo are two of the nation’s largest megabanks — with thousands of branch locations, a full host of financial products and sizable ATM networks. Our head-to-head comparison will help you sort out the differences and decide which is best for you.

Snapshot comparison

Citibank

Wells Fargo

Checking accounts

Citibank Regular Checking (part of the Basic Banking package)

N/A.

Wells Fargo Everyday Checking

  • Monthly fee: $10 (See below for ways to waive this fee).

  • Minimum deposit to open: $25.

Savings accounts

Citi Savings

  • APY: 0.03%

  • Monthly fee: $4.50 (See below for ways to waive this fee).

Wells Fargo Way2Save Savings

  • APY: 0.01%.

  • Monthly fee: $5 (See below for ways to waive this fee).

Certificates of deposit

Citi CD interest rates

  • 1 year: 0.10%.

  • 5 year: 2.00%.

  • Minimum deposit to open: Generally ranges from $500 to $2,500, depending on location.

Wells Fargo CD interest rates

  • 1 year: 2.00%. Rates may vary by location.

  • No standard rates available online beyond one-year terms. Call or visit a branch for rates.

  • Minimum deposit to open: $2,500 or $5,000, depending on the type of CD.

Overdrafts, ATMs, customer service

  • Overdraft fee: $0.

  • Overdraft protection transfer fee: $0.

  • ATMs: 60,000+ fee free.

  • Branches: About 700 in the U.S. and 1,800 overseas.

  • Customer service: 24/7 by phone.

  • Overdraft fee: $35, maximum of 3 per day.

  • Overdraft protection transfer fee: $12.50 per use.

  • ATMs: 13,000.

  • Branches: 4,700.

  • Customer service: 24/7 by phone.

Citi® Overall Star Rating
NerdWallet rating 
Wells Fargo Overall Star Rating
NerdWallet rating 

Choose Citibank if:

  • You want to avoid overdraft fees.

  • You need wide-ranging ATM access.

  • You value a bank that operates internationally.

Choose Wells Fargo if:

  • Visiting a branch is important to you.

Or go with an alternative

Unlike these brick-and-mortars, online banks don’t have thousands of branches. But they do have excellent annual percentage yields, or APYs, that make your savings grow faster. And fees tend to be low or nonexistent.

» Want to know more? Check out NerdWallet’s best high-yield online savings accounts

Citibank vs. Wells Fargo: Basic checking accounts

Citibank Regular Checking

Wells Fargo Everyday Checking

Monthly fee

N/A.

$10.

You must meet one of the following requirements:

  • Keep a daily balance of at least $500.

  • Receive $500 or more in qualifying direct deposits each month.

  • Have a primary account owner who is 17-24 years old.

  • Link a Wells Fargo Campus ATM or Debit Card.

Minimum deposit to open

$0.

$25.

APY

None.

None.

ATM fees and network

  • Access to 60,000 free ATMs.

  • $2.50 fee for each out of network ATM transaction.

  • Access to approximately 12,000 free ATMs.

  • $2.50 fee at non-Wells Fargo ATMs, plus any fees from ATM owner.

Sign-up bonus

Up to $2,500 (expires 07/07/2025); our bank bonuses roundup explains how to qualify.

$325 (expires 07/08/2025); our bank bonuses roundup explains how to qualify.

Citibank’s and Wells Fargo’s checking accounts are standard for large, national banks. Consider Wells Fargo if you're looking for a sign-up bonus, or Citibank if you want access to a much larger ATM network.

» Explore other options with NerdWallet’s list of best checking accounts.

Citibank vs. Wells Fargo: Basic savings accounts

Citi Savings

Wells Fargo Way2Save Savings

APY

0.03% APY.

0.01% APY.

Monthly fee

$4.50.

You must meet one of the following requirements:

  • Keep an average monthly balance of $500.

  • Have a linked Citi checking account.

  • The owner of the account is 62 or older.

$5.

You must meet one of the following requirements:

  • Keep a minimum daily balance of $300.

  • Have a recurring auto-transfer from a linked account.

  • You are younger than 18 (19 in Alabama) and are the primary account holder.

Minimum deposit to open

$0.

$25.

Citibank’s and Wells Fargo’s savings accounts are also standard for large banks — and that means earning almost no interest, unless you qualify for Citi's Accelerate account. To earn more money on your balance, consider putting at least some of your savings into an online bank. Check out NerdWallet’s best savings account tool and explore other options.

» Find solid rates on our list of best savings accounts.

Citibank vs. Wells Fargo: Certificates of deposit

Citibank

Wells Fargo

Minimum deposit to open

Generally ranges from $500 to $2,500, depending on location.

$2,500 or $5,000, depending on the type of CD. (Learn more details about Wells Fargo CD rates.)

APY on one-year term

0.10%.

2.00%. Rates may vary by location.

APY on three-year term

2.00%.

Not available online. Call or visit a branch for rates.

APY on five-year term

2.00%.

Not available online. Call or visit a branch for rates.

Rates may vary by location.

See more rates

Citibank CD rates.

Wells Fargo CD rates.

Citibank's online CDs are the stronger choice. If you want to see if there are better options out there, use NerdWallet’s best CD rates tool.

» Find out where you'll get the best CD rates this month.

Citibank vs. Wells Fargo: Banking experience

Citibank

Wells Fargo

Branches

About 700 in the U.S. and 1,800 overseas.

4,700.

Banking apps (ratings from app store users)

  • 4.9 out of 5 stars for iPhone.

  • 4.7 out of 5 stars for Android.

  • 4.8 out of 5 stars for iPhone.

  • 4.7 out of 5 stars for Android.

Customer service

  • 24/7 by phone.

  • Live chat support also available.

  • Social media support also available.

  • 24/7 by phone.

  • Email support also available.

  • Social media support also available.

Big banks really shine when it comes to access, and you’ll find that with both Citibank and Wells Fargo. Choose Wells Fargo if domestic branches are important to you and Citibank if you’d like more options overseas. And keep in mind that Wells Fargo has been heavily fined in recent years for opening around 1.5 million bank accounts and over half a million credit card accounts without customer knowledge.

Citibank vs. Wells Fargo: Overdraft fees

Citibank

Wells Fargo

Overdraft fee

$0.

$35, maximum of 3 per day.

Overdraft protection transfer fee

$0.

$12.50 per use.

Extended overdraft fee

None.

None.

If you tend to overdraw your account, go with Citibank, which is now one of an increasing number of banks that don’t charge overdraft fees. Wells Fargo's overdraft fees are in line with the national median, which is steep.

Almost evenly matched

Citibank and Wells Fargo share most of the perks and drawbacks of large, national banks. If having access to a branch and ATM network is most important to you, one of them might be a fit. Wells Fargo has more branches and Citi more ATMs overall, though Citi also has branches overseas.

If the traditional banking model of full service with high fees and low yields doesn’t seem too appealing, see NerdWallet’s list of best checking accounts for other options.

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.

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