Citibank Checking Account Fee: What You Need to Know

Understanding the Citibank checking account fee can be a bit overwhelming, but don't worry, I've got you covered.

The monthly maintenance fee for a Citibank checking account is $15, but you can waive it by maintaining a minimum daily balance of $1,500.

You can also avoid the fee by making a direct deposit of at least $500 within the statement cycle.

This fee is charged monthly, so be sure to keep an eye on your account balance to avoid getting hit with the fee.

CitiBank checking accounts come with various fees, including monthly maintenance fees, overdraft fees, wire transfer fees, and foreign transaction fees. These fees can add up quickly, so it's essential to understand what you're paying for.

The most common CitiBank fees include a $34 overdraft or insufficient funds fee, a $30 stop payment fee, and a $2.50 ATM fee for using a non-Citi ATM.

To avoid these fees, you can open the right checking or savings account for your lifestyle and income, maintain the right minimum balance, set up qualifying direct deposits, and set up qualifying bill payments.

Some CitiBank checking accounts, such as the Access Account Package, Basic Banking Package, and The Citi Account Package, come with different features and fee structures.

Here are some ways to waive the monthly service fee:

The monthly service fee is waived automatically for the first three months after opening the account.

CitiBank monthly maintenance fees can range from $10 to $25 depending on the account type.

To avoid these fees, you can opt for the CitiGold account, which has no monthly fees if you maintain a combined average monthly balance of $200,000+ in eligible linked deposit, retirement, and investment accounts.

CitiBank also charges $34 for overdraft or insufficient funds, $30 for a stop payment fee, and $2.50 for using a non-Citi ATM.

Wire transfer fees can range from $10 to $35, depending on whether the transfer is domestic or international.

Here are the common CitiBank fees:

To avoid these fees, you can consider the following options: open the right checking or savings account for your lifestyle and income, maintain the right minimum balance, set up qualifying direct deposits, set up qualifying bill payments, optimize your retirement and investment account contributions, and avoid overspending to prevent insufficient funds and overdraft fees.

To avoid Citibank fees, you'll need to meet certain requirements. One way to do this is by making a qualifying direct deposit per statement period, which includes payroll, pension, or government payments.

You can also avoid fees by making a qualifying bill payment per statement period through CitiPhone Banking, Citibank Online, CitiBusiness Online, or Citi Mobile.

Another option is to maintain a combined average monthly balance of $1,500+ in eligible linked accounts, or $10,000+ in eligible linked deposit, retirement, and investment accounts for the Access Account package.

If you're 62 years old or have a joint account with a minor, you may be eligible for fee waivers with the Basic Banking package.

Here are the specific requirements for avoiding fees:

Citi Bank customers may be in trouble if they haven't paid attention to an automatic surcharge listed on their banking contracts.

The monthly service fee for checking accounts is $15, but it can be waived in certain situations.

Customers with a Citigold Private Client or Citigold or Citi Priority Relationship tier checking account can get their monthly service fee waived.

You can also get your monthly service fee waived if your checking account has $250 or more in "enhanced direct deposits."

All Citi Savings and Citi Accelerate accounts will automatically bypass the extra charge as long as you keep an average monthly balance of $500 or more.

If you own both a savings and a checking account, you should be able to skirt past the extra fee.

The service fee is waived automatically for the first three months after the account opens.