What you need to open a Citibank savings account
You can open a Citibank savings account in person at a branch, online through Citibank's website, or by phone. Most people find the online route fastest — it takes about 10 minutes and you can fund the account when ready. You will need a valid government-issued ID (a driver's license, passport, or state ID card), your Social Security number, and an initial deposit.
The initial deposit amount depends on which savings product you choose. Citibank's basic savings account typically requires a minimum opening deposit, though this varies by location and changes over time — call your local branch or check Citibank's website to confirm the current requirement for your state. If you are opening online, you can link a bank account you already have and transfer money electronically, or use a debit card.
You will also need a current mailing address and a phone number. If you are opening in person, bring your ID and the cash or check for your deposit. If you are opening online, have your ID ready to photograph or scan, and know the routing and account numbers of any bank account you plan to link.
Key Takeaways
- You can open a Citibank savings account online in about 10 minutes, in person at a branch, or by phone.
- You will need a valid government ID, your Social Security number, and an initial deposit to open the account.
- Online opening is usually the fastest route and lets you fund the account the same day.
- Citibank offers different savings products with different features — compare interest rates and monthly fees before you choose.
- Once your account is open, you can deposit money by transferring from another bank, using a Citibank ATM, or visiting a branch.
Opening an account online
Go to Citibank's website and look for the "Open an Account" or "Savings Accounts" section. You will be asked to choose which type of savings account you want — Citibank offers several, and they differ in interest rates, monthly fees, and minimum balance requirements. Read the details for each before you choose, because switching later is possible but takes extra steps.
Once you have chosen, the site will ask for your personal information: name, date of birth, address, phone number, and Social Security number. You will then need to verify your identity by uploading a photo of your ID or answering security questions based on your credit history. This step usually takes a few minutes.
Next, you will link a bank account to fund your new savings account. Enter the routing number and account number from the bank you want to transfer from, and Citibank will send two small deposits (usually under $1 each) to that account. You will then log into that bank's website, find those two amounts, and enter them back into Citibank's site to confirm you own the account. Once confirmed, you can transfer your initial deposit.
After your deposit clears — usually one to two business days — your savings account is ready to use. Citibank will send you a debit card by mail if you requested one, though you can start using your account online or at ATMs before the card arrives.
Opening an account in person at a branch
Find your nearest Citibank branch using the branch locator on Citibank's website. Bring your government-issued ID, your Social Security number, and your initial deposit in cash or as a check. If you are depositing a check, it should be made out to you or be a cashier's check.
A Citibank employee will ask you the same questions the online form does: your name, address, phone number, date of birth, and Social Security number. They will verify your ID and explain the different savings products available. Ask them to explain the interest rate, any monthly fees, and the minimum balance you need to keep in the account. Take time to understand these before you sign anything.
Once you have chosen your account type and signed the paperwork, the employee will process your deposit and give you a receipt. You will receive your debit card by mail within one to two weeks. In the meantime, you can use your account number to set up online banking or make deposits at any Citibank ATM.
Opening an account by phone
Call Citibank's customer service number (found on the back of any Citibank card or on their website) and ask to open a savings account. A representative will walk you through the same questions as the online form and explain your account options. They will need your ID information, Social Security number, and details about how you want to fund the account.
If you want to fund by transfer from another bank, the representative will ask for that bank's routing number and your account number there. Citibank will then send the verification deposits, and you will need to confirm them the same way as with online opening. If you want to fund by check, the representative can mail you deposit slips and instructions.
Phone opening usually takes longer than online opening — expect 20 to 30 minutes — but it can be helpful if you have questions or prefer to talk through your options with a person.
Understanding Citibank savings account types
Citibank offers more than one savings product, and they are not all the same. The basic savings account is the most common and usually has the lowest interest rate but also the lowest or no monthly fee. High-yield savings accounts pay more interest but may require a higher minimum balance. Money market accounts combine features of savings and checking accounts and usually pay higher interest than basic savings.
The interest rate — the percentage of your money the bank pays you for keeping it there — changes over time and varies by account type. The monthly fee, if there is one, is charged whether you use the account or not, so compare the fee against the interest you would earn. A high-yield account with a $10 monthly fee might cost you money if your balance is small.
Ask a Citibank employee or check the website for the current interest rate and fees for each account type. Write them down and compare before you decide. You can change account types later, but starting with the right one saves you time.
What happens after you open your account
Once your account is open and funded, you can start using it right away. You can deposit money by transferring from another bank (which usually takes one to two business days), depositing cash or checks at a Citibank branch or ATM, or having your employer or another source deposit money directly into your account.
You can withdraw money by visiting a branch, using a Citibank ATM, or transferring to another bank account. Some savings accounts limit how many withdrawals you can make per month — check your account agreement to see if yours does. If you exceed the limit, you may be charged a fee.
Set up online banking so you can check your balance, see your transactions, and move money between accounts without visiting a branch. You can do this during account opening or anytime after by logging into Citibank's website with your account number and a password you create.
Frequently Asked Questions
Can I open a Citibank savings account if I do not have a Social Security number?
No, Citibank requires a Social Security number to open any account. If you are a non-citizen without a Social Security number, you may be able to use an Individual Taxpayer Identification Number (ITIN) instead — call Citibank to ask whether your local branch accepts ITINs.
How long does it take to open an account online?
The process itself takes about 10 minutes. Identity verification usually happens when ready or within a few hours. Once verified, you can transfer money and start using your account the same day, though transfers from other banks take one to two business days to appear.
What if I do not have an existing bank account to link for my initial deposit?
You can open an account in person with cash or a check, or by phone and then mailing a check. You can also ask a friend or family member to transfer money from their account if you provide Citibank with your new account number.
Do I need a debit card to use my savings account?
No. You can deposit and withdraw money using your account number at any Citibank ATM or branch, or by transferring online, without ever receiving a debit card. A debit card is optional and arrives by mail after you open your account.
Can I open more than one savings account at Citibank?
Yes, you can open multiple savings accounts. Some people open one for everyday savings and another for a specific goal. Each account has its own number and interest rate, and you can transfer money between them online.