dailystarx

News and Magazine


Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our 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.

Compare Citi and Chase

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

High interest rate on Citi Accelerate Savings

Editor’s rating

3.25/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

0.05% to 2.20% APY (depends on location)

$200 checking account bonus on Chase Total Checking

Editor’s rating

3.5/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

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


Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$0

Citi Citi Access Account


Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$0


Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$0

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Citi vs. Chase savings account comparisons

Citi offers two savings accounts — Citi® Accelerate Savings and the  Citi® Savings Account. Chase has a traditional savings account and premium savings acc count with a slightly higher interest rate.

We’ve compared the Citi® Accelerate Savingsto the Chase Savings℠ since these accounts are available in most states and have similar monthly service fees.

Citi Citi® Accelerate Savings

Citi® Accelerate Savings


Annual Percentage Yield (APY)

2.20% APY


Minimum Deposit Amount

$0

Citi Citi® Accelerate Savings

Citi® Accelerate Savings


Annual Percentage Yield (APY)

2.20% APY


Minimum Deposit Amount

$0


Annual Percentage Yield (APY)

2.20% APY


Minimum Deposit Amount

$0

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Citi vs. Chase CD comparisons 

Citi Citi Fixed Rate Certificates of Deposit

Citi Fixed Rate Certificates of Deposit


Annual Percentage Yield (APY)

0.05% to 2.85% APY


Minimum Deposit Amount

$500 to $2,500

Citi Citi Fixed Rate Certificates of Deposit

Citi Fixed Rate Certificates of Deposit


Annual Percentage Yield (APY)

0.05% to 2.85% APY


Minimum Deposit Amount

$500 to $2,500


Annual Percentage Yield (APY)

0.05% to 2.85% APY


Minimum Deposit Amount

$500 to $2,500

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

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) a A- rating due to government action taken against the business.

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 2019, Citi accidentally sent $900 million to customers. 
  • 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.

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.

FAQ (frequently asked questions)

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 Account with Chase’s savings accounts and see which institution you prefer. 

You’ll also want be mindful of how both banks work and which accounts you’d like to open. Citi organizes its savings and checking accounts into packages. If you’d prefer to open only a checking or savings account, you might favor Chase. 

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.



Source link

Leave a Reply

Your email address will not be published.