While Citibank provides a wide array of banking products—checking, savings, credit cards, loans, and more—many of these come with monthly fees designed to cover account maintenance, services, or special features. By understanding Citibank monthly fees, you can choose the right account, proactively meet waiver requirements, and keep more of your money working for you.
1. Overview of Common Monthly Fees
- Account Maintenance Fees
- Checking Accounts: Standard checking often carries a base monthly fee (e.g., USD 12–25) if you fail to meet minimum balance or activity criteria.
- Savings Accounts: A typical savings account fee (USD 5–15) applies when average daily balances fall below the required threshold.
- Paper Statement Fees
- If you opt for mailed statements instead of secure e-statements, Citibank may charge a monthly fee (around USD 2–5 per account).
- ATM & Foreign Transaction Fees
- Out-of-Network ATM Fees: While Citibank ATMs are free for qualifying customers, other networks may charge USD 2–5 per withdrawal.
- International ATM Fees: Withdrawals abroad can incur an additional non-network charge unless you hold a premium tier.
- Foreign Transaction Fee: A 3% fee on purchases made in non-USD currencies may apply on debit and credit cards.
- Overdraft & Returned Item Fees
- Though not strictly “monthly,” repeated overdrafts (e.g., USD 34 per NSF item) can quickly add up if you don’t monitor balances.
2. Fee Waiver & Avoidance Strategies
- Maintain Minimum Balances
- Checking: Keep an average daily balance (often USD 1,500–2,500) or link to a Citibank savings account to waive the fee.
- Savings: Hold the minimum required balance (e.g., USD 5,000) or maintain a qualifying checking relationship.
- Enroll in E-Statements
- Switch from paper to Citibank e-statements to avoid monthly statement delivery fees and enhance security.
- Switch from paper to Citibank e-statements to avoid monthly statement delivery fees and enhance security
- Choose the Right Account Tier
- Citi Priority® and Citigold® clients automatically enjoy fee waivers on ATM usage, foreign transactions, and maintenance when they meet higher relationship balances.
- Automate Your Activity
- Setting up direct deposit (payroll or government benefits) can eliminate checking fees.
- Debit-card transactions—such as 10 qualifying purchases per statement—may also qualify you for waivers.
- Use In-Network ATMs
- Rely on Citibank ATMs or surcharge-free partners (e.g., Visa Plus, Mastercard Cirrus) to avoid out-of-network charges.
3. Tips for Monitoring Your Fees
- Regularly Review Statements: Scan monthly account and card statements for unexpected fees.
- Set Low-Balance Alerts: Use the Citi Mobile® App to trigger push notifications when balances drop near fee thresholds.
- Contact Customer Service: If a fee posts in error—or you face extenuating circumstances—calling Citibank’s 24/7 hotline may lead to a one-time courtesy waiver.
4. Optimizing Your Relationship with Citibank
- Consolidate Your Products
- Combining checking, savings, and credit accounts under one relationship balance can help you meet waiver minimums more easily.
- Explore Promotional Offers
- Citibank frequently runs limited-time promotions—such as fee credits or bonus rates—for new accounts that satisfy deposit or transaction requirements.
- Upgrade When It Makes Sense
- If your balances grow, consider upgrading to Citi Priority® (USD 20,000 combined balance) or Citigold® (USD 200,000) to unlock broader fee-waiver perks and premium services.
Conclusion
Monthly fees need not erode your hard-earned savings. By understanding which Citibank monthly fees apply to your accounts and proactively leveraging waiver strategies—minimum balances, e-statements, direct deposit, and account tier upgrades—you can keep costs down and maximize the value of your banking relationship. Review your account features today, set up alerts, and enjoy a lower-fee, higher-benefit Citibank experience.