In this article, we will conduct a thorough comparison of various banking offerings from Citibank and U.S. Bank, including savings accounts, checking accounts, CDs, credit cards, and lending products.
Checking Accounts
Citibank offers comprehensive checking account options with unique features. While it has drawbacks, Citibank is our winner in this category due to its various checking options with luxury benefits for premium customers.
On the other hand, the U.S. bank Smartly Checking monthly fees can be waived more easily than Citibank.
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Account Types
Citi provides a diverse range of checking account options categorized into Everyday Banking and Premium Banking.
Everyday Banking includes Citi Access Account and Citi Regular Checking, while Premium Banking offers Citi Priority Account, Citigold Checking Account, and Citigold Private Client.
Citi Account | Monthly Fee | Avg Day Balance To Waive Fee |
|---|---|---|
Citi Access Checking | $5 | $30,000 |
Citi Regular Checking | $15 | $30,000 |
Citi Priority Account Package | $0 | $30,000 |
Citigold Account Package | $0
| $200,000 |
Citigold Private Client | $0 | $1,000,000 |
U.S. Bank also offers two main checking accounts for customers: the U.S. Bank Smartly Checking and the U.S. bank safe debit. Both have monthly maintenance fees, but the Safe Debit account fees can't be waived, unlike the U.S. Bank Smartly Checking:
U.S. Bank Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
U.S. Bank Smartly Checking | $6.95 | $1,500 |
Safe Debit
| $4.95 | Cannot be waived |
Business Gold Checking | N/A | N/A |
Business Platinum Checking | N/A | N/A |
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Features
Citi's basic checking features include no overdraft or returned item fees, online banking, access to 65,000+ fee-free ATMs, check writing, mobile check deposits, and $0 liability for unauthorized charges.
Premium checking offers additional perks such as financial check-ups from Citi Personal Wealth Management, higher savings rates, unlimited reimbursement of non-Citi ATM fees, a dedicated team, waived online transfer fees, higher limits for deposits and withdrawals, cash back subscription rebates, and advanced wealth planning services.
Citi Account | Main Features |
|---|---|
Citi Access Checking | No Overdraft or returned item fees, online banking, 65,000+ fee-free ATMs |
Citi Regular Checking | Check writing, mobile check deposits, $0 liability for unauthorized charges |
Citi Priority Account Package | Financial check-ups from Citi wealth management, higher savings rates |
Citigold Account Package | Unlimited reimbursement of non-Citi ATM fees, waived online transfer fees
|
Citigold Private Client | Higher limits for deposits & withdrawals, cash back subscription rebates, advanced wealth planning |
The U.S. Bank checking account offers a range of features designed to meet the diverse needs of customers:
U.S. Bank Account | Main Features |
|---|---|
U.S. Bank Smartly Checking | Smart Rewards, transfer money, set alerts, $50 overdrawn available |
Safe Debit
| Directly deposit paychecks, pay bills for free, no overdraft fees |
Business Gold Checking | 300 free transactions, $10,000 of free cash deposits |
Business Platinum Checking | 500 free transactions, $20,000 of free cash deposits |
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Savings Accounts
When it comes to savings accounts, Citi is a clear winner.
They have a savings account called Citi Accelerate Savings, which gives 4.30% APY, one of the best among traditional banks. But keep in mind, that this high-yield account is only for people in specific states.
On the other hand, the U.S. Bank Standard Savings account presents several benefits. Users can enjoy fee-free ATM transactions and surcharge fees at U.S. Bank ATMs. Additionally, there are no overdraft protection transfer fees when initiated from an eligible linked U.S. Bank deposit account.
Citi Accelerate Savings | U.S Bank Savings Account | |
|---|---|---|
Savings Rate | 4.30% | up to 4.25% |
Minimum Deposit | $0 | $25 |
Fees | $4.50/$10 per month
Can be waived if you maintain an average combined monthly balance of $500/$1,500 in your eligible accounts, make one enhanced direct deposit or one qualifying bill payment per statement period
| $4
can be waived by $300+ daily ledger balance or $1,000 average monthly balance
|
Certificate Of Deposits (CDs)
Both U.S. Bank and Citibank offer high CD rates only on specific terms. U.S. Bank rates tend to be a bit more competitive than for long-term CDs, while Citi rates are higher for the short term.
Both banks offer a diverse range of CD terms, spanning from one month to ten years.
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Citibank CD Rates
CD Term | APY | Early Withdrawal Penalty |
|---|---|---|
3 Months | 0.05% | 90 days interest |
6 Months | 4.65% | 90 days interest |
7 Months (Featured) | 0.05% to 4.75% | 90 days interest |
9 Months | 3.75% | 90 days interest |
12 Months | 2.00% – 3.00% | 90 days interest |
12 Months – No Penalty | 0.05% | / |
18 Months | 3.75%
| 180 days interest |
24 Months | 2.00% | 180 days interest |
30 Months | 0.10% | 180 days interest |
36 Months | 2.00% | 180 days interest |
48 Months | 2.00% | 180 days interest |
60 Months | 2.00% | 180 days interest |
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U.S. Bank CDs
CD Type | CD Term | APY |
|---|---|---|
Standard CD
| 6 Months | 0.05% |
Standard CD
| 12 Months | 0.05% |
Standard CD
| 24 Months | 0.05%
|
Standard CD
| 36 Months | 0.10%
|
CD Special | 7 Months | 4.00% |
CD Special | 11 Months | 3.80% |
CD Special | 13 Months | 4.80% |
CD Special | 19 Months | 4.95%
|
Step Up CD
| 28 Months | 0.35% |
Trade Up CD | 30 Months | 0.10% |
Trade Up CD | 60 Months | 0.40% |
Credit Cards
While Citibank is one of the national leaders when it comes to credit cards (and our winner in this category), U.S. Bank offers great competition with new and attractive cards, including a luxury travel card, something that is not available through Citibank.
Citibank offers a diverse range of credit cards, catering to various financial needs and lifestyles. Some notable Citibank credit cards include the Citi Double Cash Card and Citi Custom Cash for cashback rewards, the Citi Simplicity card for a long 0% intro APR, and Citi Secured for those who want to build credit.
The Citi Premier® Card is designed for travel enthusiasts, providing points on travel, dining, and entertainment expenses. Citi also offers many co-branded card such as the AAdvantage cards in partnership with American Airlines, Best Buy card, Costco card and more.
Card | Rewards | Bonus | Annual Fee |
| Citi® Double Cash Card | 1% – 2%
2% cash back rewards rate – 1% every time you swipe and another 1% upon payment.
| N/A
$200 cash back after you spend $1,500 on purchases in the first 6 months of account opening
| $0 |
|---|---|---|---|---|
| Citi Premier® Card | 1X – 10X
10X per dollar on hotel, car rentals and attractions booked through CitiTravel.com, 3X points on restaurant, supermarket, gas station, and air travel and other hotels purchases, and 1X points per dollar on all other purchases
| 75,000 points
75,000 bonus points after spending $4,000 in the first 3 months of account opening, redeemable for $750 in gift cards or travel rewards on thankyou.com
| $95 |
| Citi Simplicity® Card | None | None | $0 |
| Citi® Secured Mastercard® | None | None | $0 |
 | Citi Custom Cash℠ Card | 1-5%
5% cash back on your highest eligible spend category each billing cycle up to the first $500 spent and 1% cash back thereafter
| $200
$200 cash back after you spend $1,500 on purchases in the first 6 months of account opening (20,000 ThankYou® Points, which can be redeemed for $200 cash back)
| $0 |
Card | Rewards | Bonus | Annual Fee |
| U.S. Bank Shopper Cash Rewards | 1.5% – 6%
6% cash back on your first $1,500 in combined eligible purchases each quarter at two retailers you choose, 3% back on your first $1,500 in eligible purchases each quarter on your choice of one everyday category, 1.5% back on all other qualifying purchases. Also, 5.5% back on reservations for hotels and prepaid car rentals when you book through the U.S. Bank Rewards Center.
| $250
$250 bonus after you spend $2,000 in eligible purchases within the first 120 days of account opening
| $95 ($0 on first year) |
|---|---|---|---|---|
| U.S. Bank Cash+® Visa Signature® Card | 1% – 5%
5% cash back on purchases in two categories of your choice (up to $2,000 in combined purchases per quarter, then 1 percent). 5% back on prepaid air, hotel, and car reservations through the Rewards Center. 2% cash back on one choice everyday category. 1% back on all other purchases
| $200
$200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.
| $0 |
| U.S. Bank Altitude® Go Visa Signature® Card | 1X – 4X
4x points at restaurants, take-outs & deliveries, 2x points at supermarkets, gas stations & streaming servicesm and 1 point for 1 dollar on all other purchases
| 20,000 points
20,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening
| $0 |
| U.S. Bank Altitude Connect Visa Signature Card | 1X – 5X
5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center; 4X points on travel, gas stations, and EV charging stations; 2X points on grocery stores, grocery delivery, dining, and streaming services; and 1X points on all other eligible purchases
| 60,000 points
60,000 points after spending $6,000 in eligible purchases on the account owner's card within the first 180 days from account opening
| $95 (waived first year) |
| U.S Bank Altitude Reserve Visa Infinite Card | 1X – 5X
5 points per dollar on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 3 points per dollar on eligible travel purchases and mobile wallet spending and 1 point per dollar on all other eligible net purchases
| 50,000 points
50,000 points worth $750 on travel after spending $4,500 in the first 90 days of account opening
| $400 |
Mortgage And Loans
Overall, the U.S. Bank offers more lending products for personal consumers and therefore it's our winner for borrowers.
Both banks stand out for their extensive mortgage offerings, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), jumbo loans, and government-backed loans like FHA and VA loans. Both banks also offer personal loans and home equity lines of credit (HELOC).
The U.S. Bank also offers car loans, which are not available through Citibank. Neither Citibank nor U.S. banks offer student loans.
Which Bank Is Our Winner?
While U.S. Bank offers some better conditions when it comes to lending options, Citibank is our winner due to its extensive checking account options, various credit cards and better savings account rates.
However, it is crucial to assess various factors, with a primary focus on those that are significant for your specific needs. This could include considerations such as banking services, overdraft assistance, frequent ATM usage, proximity to bank locations, and other elements that vary from person to person.
Understanding Our Banking Comparison Methodology
In our thorough banking comparison, The Smart Investor team carefully reviewed and compared banks across five key categories:
Checking Accounts (30%): We examined features like direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. We also considered any special offers available to customers.
Savings Accounts and CDs (20%): Our focus was on important factors such as the Annual Percentage Yield (APY), minimum deposit requirements, account flexibility, FDIC insurance coverage, special savings offers, variety of CDs, automatic renewal options, and early withdrawal penalties.
Credit Cards (15%): We analyzed rewards programs, annual fees, introductory bonuses, travel benefits, APR, and balance transfer options offered by each bank's credit cards to provide a comprehensive comparison of available features.
Lending Options (15%): We assessed the variety of loan options provided, including personal loans, student loans, mortgages, secured loans, HELOCs, and Home Equity Loans, offering insights into the banks' lending capabilities.
Customer Experience and Bank Reputation (20%): Our evaluation included an analysis of online banking and mobile app usability and ratings, accessibility of customer support, online reviews, JD Power research, Trustpilot ratings, and overall financial stability, providing a holistic view of customer experience and reputation.
Compare Citibank Versus Other Banks
The Chase and Citi checking accounts both have no minimum deposit and a monthly account maintenance fee of $12. This can also be waived with a balance of $1,500 or more, or with qualifying deposits.
Furthermore, both have a very impressive selection of more than credit card options.
Read Full Comparison: Chase vs Citi: Which Bank Account Wins?
Capital One began as a credit card company, but it has recently expanded its banking product line. Capital One offers checking and savings accounts, children's accounts, auto finance and refinancing, in addition to an impressive selection of credit cards.
Citi offers a diverse range of banking products, including checking and savings accounts, CDs, credit card options, mortgages, personal loans, wealth management plans, IRAs, and investment options.
Read Full Comparison: Citi vs Capital One: Which Bank is Best For You?
CIT Bank has a banking product line that rivals that of traditional banks. Savings accounts, CDs, an eChecking account, home loans, and mortgages are all available. The main shortfalls in this lineup are the lack of personal loans and a credit card option.
Citibank has a credit card background, but that doesn't mean it has a limited banking product line. Citi offers home loans, personal loans, lines of credit, wealth management options, and investments, as well as everyday and premium banking services.
Read Full Comparison: CIT Bank vs Citi: Which Bank Account Suits You Best?
The Citi checking account is a fairly standard product. The account does have a $12 monthly fee, but it is waived if you make a qualifying deposit or make a qualifying bill payment. Overdraft protection is also available, which automatically transfers funds from your savings account to avoid overdraft fees.
Because the American Express savings account has a high yield, the number of withdrawals or transfers you can make each month is limited to nine. It's also a nice touch that American Express allows you to choose paper statements if you prefer the old-fashioned way.
Read Full Comparison: American Express vs Citi: Where to Save Your Money?
Citi offers an excellent range of banking products that cover the majority of your financial needs.
Personal loans, mortgages, credit cards, investment options, IRAs, and wealth management plans are available in addition to savings and checking accounts. Barclays' product line is more streamlined. This bank offers credit cards, savings accounts, credit cards, and personal loans.
The most obvious product gap is the absence of a checking account. As a result, Barclays becomes more of a supplementary bank rather than your primary day-to-day financial institution.
Read Full Comparison: Citi vs Barclays: Which Bank Account Is Better?
Bank of America is a large banking institution, and its impressive banking product line reflects this. Aside from savings and checking accounts, there are home loans, auto loans, investment options, and a variety of credit cards. Citi also has a diverse product offering. Credit cards, CDs, personal loans, mortgages, IRAs, investment options, wealth management plans, and checking and savings accounts are all available.
As a result, if you want to switch from your current bank, either bank is a viable option because you won't have to make any compromises in terms of banking products.
Read Full Comparison: Bank of America vs Citi: Which Bank Suits You Best?
Discover began as a credit card company and has since expanded into banking services. As a result, it stands to reason that Discover would offer a diverse range of credit cards. Discover offers a simpler checking account. There are no account fees or minimum deposits, and you can earn 0.40 percent.
Citi offers home loans, personal loans, lines of credit, wealth management options, and investments, as well as everyday and premium banking services. This exemplifies Citi's viability as a viable alternative to the traditional high-street bank.
Read Full Comparison: Discover vs Citi: Compare Banking Options
Both banks offer a good selection of banking products, making it easier to switch from your current bank.
Citi offers CDs, personal loans, mortgages, IRAs, investment options, wealth management plans, and a variety of credit card options in addition to checking and savings accounts.
Wells Fargo provides savings and checking accounts, but it also provides mortgages, loans, and investment options such as IRAs, 401ks, and wealth management products.
Read Full Comparison: Citi vs Wells Fargo: Which Bank Account Is Better?
Citibank is our winner due to its checking account options, various credit cards, and better savings account rates than Truist Bank.
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Compare U.S. Bank With Other Banks
US Bank offers an even more impressive range of banking services. Savings and checking account options, investments, personal loans, mortgage products, and wealth management are all available.
Bank of America offers a wide range of banking services. There are numerous credit cards available, as well as various checking and savings accounts, home loans, investments, and auto loans.
Read Full Comparison: Bank of America vs US Bank: Which is Best For You?
Wells Fargo offers a diverse range of products, including checking accounts, savings accounts, loans, mortgages, and investments such as 401ks, IRAs, and wealth management options.
US Bank offers an even more impressive range of banking services. Savings and checking account options, investments, personal loans, mortgage products, and wealth management are all available.
Read Full Comparison: Wells Fargo vs US Bank: Which Bank Account Is Better?
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