Citibank: tradition matched with technology
Citibank, which traces its roots back to 1812 with the founding of the City Bank of New York, has more than 4,600 bank branches in more than 160 countries today. The bank, which has deposits of more than $300 billion, is also one of the five largest mortgage loan originators in the U.S. Citibank also has a major global presence, as its banking services outside the U.S. account for about 50 percent of the bank's loans, deposits, revenues and net income.
Citi deposit accounts
Accounts vary according to where you live or work, but wherever you live, Citibank likely offers you an array of deposit products. The bank offers at least four checking accounts, including its basic checking account, student checking account, Citibank checking account and Citigold checking account. The Citigold account may be right for you if you carry a higher balance.
For savings, you can choose between a money market account and two types of savings accounts that vary in their minimum balance requirements. You can also open a certificate of deposit (CD) with a term anywhere from three months to five years. IRAs are also available for retirement savings from Citibank.
All deposit accounts are fully FDIC-insured for the maximum amount of up to $250,000 per depositor.
Technology and Citibank
In spite of its more than 200-year history, Citibank has been in the forefront of several tech innovations that have changed the way consumers handle their banking needs. In 1977, Citibank opened its first ATM in Queens, N.Y. Today, Citibank customers can access their money for free at more than 26,000 ATMs.
Since 2010, the bank has opened Citi Smart Banking Branches in New York, Washington, D.C., Tokyo and South Korea that offer state-of-the-art digitalized banking services. In 2011, Citibank, Google and MasterCard PayPass introduced Google Wallet, which allows mobile payments to be made with as little as a tap on a mobile phone.
Citibank offers their customers online, mobile phone and tablet banking, including bill payments, transfers from one account to another, foreign bank transfers and automatic saving transfers. If you have tried PopMoney, another service provided by Citibank as well as other financial institutions, you probably already know how simple it is to split a bill with a friend or pay a babysitter instantly with just their email address or mobile phone number. You can open a Citibank account online or at a bank branch.
Other Citi financial services
In addition to its deposit accounts, Citibank offers multiple fixed-rate and adjustable-rate mortgages for home buyers and refinancing homeowners, along with home equity loans and lines of credit. Other loan products available include personal loans and student loans. You can get overdraft protection for your checking account with Checking Plus, and the bank also offers a variety of credit cards, including student credit cards, balance transfer credit cards and rewards credit cards. You can also open an investment account with Citibank, and the bank's website offers extensive personal finance resources.
As one of the world's most expansive financial companies, Citi offers one of the broadest selections of financial products available today. For more on the latest deposit offerings from Citibank, please see the tables below.