Citi vs. Chase | Which Is Right for You?

Citi and Chase Bank are two of the biggest names in the banking industry today. Both financial institutions provide easy access with online and mobile banking, plus thousands of branches and ATMs domestically and abroad. These banks also offer a variety of products from a simple savings account to an IRA CD. If you’re unsure about how these banks differ or which you should choose, we’ve highlighted some of the key features that distinguish the two.

If you are looking to invest your money, a financial advisor can help you create a financial plan.

Who Should Bank With Citi?

If ATM accessibility is important to you, Citi may be the better choice. Citi offers 2,300 ATMs at over 600 branch locations plus access to 60,000 more MoneyPass® ATMs in the U.S., while Chase offers 15,000 ATMS but substantially more branches with 4,700 locations. In addition, Citi operates roughly 600 branches in the U.S. and has an on-the-ground presence in 90+ countries. This widespread access comes in handy when you’re abroad, especially since you can withdraw cash from these Citi ATMs without incurring a foreign transaction fee. For non-Citi ATMS abroad there’s no fee on transactions under $1,000. On the other hand, Chase charges a $5 fee for all withdrawals made abroad, plus 3% of the amount withdrawn.

Both banks charge a fee if you need to make a withdrawal from an out-of-network ATM. Citi charges $2.50 and Chase charges $3. Out-of-network ATMs mean those that aren’t operated by or partnered with Citi or Chase. If it’s higher CD rates you’re looking for, Citi bests Chase here, especially for balances under $10,000.

Who Should Bank With Chase?

If you prefer branch accessibility and sign-up bonuses Chase Bank may be the best option for you. Chase currently has over 4,700 branches established in 48 states while Citi only has 600. Chase often offers generous sign-up bonuses for new customers. The offer details vary depending on when you open an account. You can usually earn a couple hundred dollars (or more) by opening certain accounts like the Chase Total Checking^® account. Citi typically doesn’t offer sign-up bonuses but sometimes offers rewards according to your banking package.

If you’re prone to the occasional overdraft, Citi no longer charges overdraft fees for returned items on regular checking accounts. Chase charges a $34 fee for every time you overdraft your account. However, Chase offers free overdraft protection to help you make transfers from a Chase savings account to cover your overdraft. It also does not charge the penalty on transactions of $5 or less or if you make a deposit to cover the overdraft by the next business day.

Citi vs. Chase: Bank Accounts

Closeup of a blank personal check and a pen.

Now that you know the general pros and cons of each bank, let’s look at the specific products each offers. Chase offers a slightly more limited range of accounts that includes two savings accounts, eight checking accounts and CDs. Chase CDs range from one month to 120 months, allowing for both long-term and short-term savings. You can also find credit cards and loans with Chase. This range of accounts means you can more easily keep all your accounts with the same institution. However, you won’t find a money market account or banking IRAs with Chase.

Citi also offers checking and savings accounts, in addition to CDs and banking IRAs. The CDs range from three months to five years. Citi’s accounts operate according to the bank’s account packages. Each package determines the rates and perks you can get with your accounts. For example, the highest tier package, Citigold®, includes a team of advisors and earns better rates.

Citi vs. Chase: Fees

Let’s start by looking at each bank’s basic savings accounts. The Chase Savings account has no minimum opening deposit and charges a $5 fee. You can get this fee waived by maintaining a minimum daily balance of $300, having an automatic transfer of at least $25, linking your savings account to a qualifying checking account or by being under 18. The Citi® Savings account requires no minimum deposit needed to open. Your monthly fee will depend on your banking package and ranges.

Citi vs. Chase Fees
	Citi	Chase
Basic Checking Account	$5-15 per month, (two ways to have fee waived)	$12 per month, (three ways to waive fee)
Basic Savings Account	$0 per month when linked with checking; $4.50 for stand-alone savings (waived with $500 average monthly balance)	$5 per month, (four ways to waive fee)
Non-bank ATM in the U.S.	$2.50 per transaction	$3 per transaction
Overdraft	$0	$34 (free overdraft protection is available)

If you’re looking for a premium checking account, you’ll face higher fees. Chase’s Premier Plus Checking account and Sapphire Banking account charges $25 per month. Citi does not charge monthly service fees for its comparable high-balance checking accounts.

Citi vs. Chase: Rates

As big banks, Citi and Chase have to maintain the big costs of having thousands of branches, ATMs and employees. While this makes for a good physical banking experience, both banks’ interest rates take a hit as a result. Both Citi and Chase offer some of the lower-earning banking interest rates in the industry.

While both banks have lower interest rates, Citi does offer slightly higher rates. The Chase Savings account earns at the lowest possible rate at a 0.01% APY. Citi offers either 0.03%, 0.06%, or 0.09% depending on which tier of checking account you have.

Citi takes the lead when it comes to CD rates, too. It offers three different CD options. Citi’s Fixed Rate account comes with a guaranteed interest rate for the length of the term, from 0.05% – 4.15% depending on the account balance. Its No Fee CD account pays 0.05% for 12-months with no penalties for early withdrawal. Citi’s Step-Up CD account is its most dynamic. It offers a rate increase every 10 months with a composite APY of 0.1%.

Chase offers pretty low standard rates on its CD accounts. You can earn 0.02% – 2% APY depending on the length and account balance of your Chase CD.

Citi vs. Chase: Which Should You Pick?

Citi and Chase both offer a wide range of banking services, but they may appeal to different people depending on priorities. Citi might be a better fit if you value having access to a large ATM network, especially internationally, since it offers more fee-free ATMs both in the U.S. and abroad. Citi may also be attractive if you’re looking for slightly higher savings and CD rates or want banking packages with extra perks.

Chase could work well for people who want more in-person support through its larger network of U.S. branches. It also stands out for offering sign-up bonuses and easy ways to waive some account fees with direct deposits or minimum balances. Customers who appreciate a highly rated mobile app and extra features like overdraft protection might also prefer Chase.

Ultimately, choosing between Citi and Chase depends on how you bank day-to-day. Citi’s strengths are broader ATM access and international banking convenience, while Chase focuses on more branches, sign-up incentives, and customer-friendly online tools. Both can be good choices depending on your location, banking habits, and account needs.

Bottom Line

A man accessing his bank account on a mobile phone.

When it comes to checking and savings accounts, it’s important that you find the bank that best suits your financial situation. You should consider Citi if you prefer extensive ATM and branch accessibility, both domestically and abroad. Citi will also serve you better if you’re looking for a big bank with higher rates. Chase, however, may be a better option for you if branch accessibility is a priority.

Tips for Finding the Right Bank

Still uncertain about which bank is best for you? Before you make any decisions, figure out what your financial goals are. This can be helpful whether you’re saving for college or you’re already making mortgage payments. Then check whether the banks you’re researching can help you meet those goals. Perhaps even meeting with a financial advisor could help you cement your financial goals and plans to find the best bank. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
An important part of choosing a bank is looking at the fees. If you’re tight on money, you don’t want to be handing over big sums of money just for keeping your money safe. Get familiar with each bank’s monthly account fees and fees for overdrafts or ATM usage. There are a number of free checking accounts out there, so don’t feel like you have to settle for a monthly fee.