Citibank is an American financial company that is the consumer division of multinational Citigroup’s financial services. Citibank started its operations in 1812 as the City Bank of New York and afterward became First National City Bank of New York. It serves a good number of the American banking population and has 2,649 branches in 19 countries, of which 723 branches are in the United States and 1,494 in Mexico, whereby its subsidiary Banamex runs the Mexican branches. You will learn how to open a Citibank checking account online.
A checking account allows you to deposit money for everyday use. You can access your funds anytime from an ATM or online from your banking app. When you open an account, you usually get a debit card that you can use for your daily transactions. A debit card allows you to shop online, shop from physical stores, and withdraw money from an ATM. Also, the account type allows you to write checks.
Online bank accounts have various advantages. First of all, it is easy to open an account online when you provide the necessary information. You do not have to walk to your bank’s branch to open an account. Again, you can easily access your money from an online account since you just need to log in using your phone, view your balance, or even make a payment.
What is a checking account?
A checking account is one of the various types of bank accounts that you can open at a financial institution such as a bank or credit union. Others include savings, CDs, retirement accounts, and brokerage accounts. But what is a checking account?
Well, a checking account is an account that allows you to keep funds for your everyday needs. You can keep the money that you need for buying food, traveling, medication, and so on. Such accounts are also essential to keep the money for emergency issues such as accidents, illness, and other related happenings.
Moreover, checking accounts come with debit cards that you can use to access your balance. As I mentioned earlier, a debit card allows you to access money from your checking account either when purchasing goods and services or when withdrawing at an ATM. You can also apply for a checkbook and write checks to make payments.
How to open Citibank checking account online?
You can open a free online checking account with no opening deposit using a smartphone, computer, or tablet. Also, you require a secure internet connection to ensure that your data is secure online. Public WiFis can be dangerous because hackers can easily steal information from users and misuse it for their gain.
Before opening your account, you require various things, including the following.
- Social Security Number (SSN)
- Identification numbers such as passport, National/State ID, or driver’s license
- Email address
- Phone number
- Physical address
A physical address is essential when applying for a Citibank checking account because services vary from one place to the other. They would like to know where you live to know what to offer you. In that regard, you should start by providing your Zip Code. Again, identification documents are essential to ensure that no criminals open accounts.
You can open your account by visiting the Citibank opening page, then entering your Zip Code. Once you enter the Zip Code, another page opens, requiring you to enter the type of bank account you want to open. The bank offers savings, checking, certificates of deposit, lending, and credit cards. In our case, you will choose the checking and savings tab to proceed.
After that, another page opens with various checking and savings accounts. Since we are interested in a checking account, you will hover around the various checking accounts from the bank to choose the most suitable one for you. Interestingly you can open an online bank account with an instant debit card and use it for online purchases.
There are various Citibank checking account packages which include the following.
1) Citigold® Private Client
The package has premier banking and wealth specialists suitable for clients who maintain a minimum combined monthly balance of $1,000,000+ in eligible linked deposits plus retirement and investment accounts.
2) Citigold® Account Package
The account is specifically for banking and wealth management with help from a dedicated team, whereby a Citigold Relationship Manager plus a Citi Personal Wealth Management Wealth Advisor is always ready to help you in the process.
It is designed for clients who maintain a minimum combined monthly balance of $200,000+ in qualifying linked deposit, retirement, and investment accounts.
3) Citi Priority Account Package
Another fantastic package from Citibank is the Citi Priority Account Package which gives you a priority banking experience with dedicated support from professional strategies and guidance from a Citi Priority Advisor.
The package is suitable for clients who can maintain a minimum combined monthly balance of $50,000+ in qualifying linked deposit, retirement, and investment accounts.
4) The Citibank Account Package
The Citibank Account Package gives you a full-featured relationship banking experience to enjoy every bit of your account transactions. You can do a lot of transactions with the account. For example, you can send money with a checking account number instantly to account holders within your branch, buy goods, and so much more.
5) Basic Banking Package
With the package, you get a Simple checking package with unlimited check writing plus special perks for users of 62 years and older.
6) Access Account Package
The package gives you affordable access to banking with no paper checks and access to a full range of Citi digital products plus services.
How do you use a checking account?
There are various ways you can use your checking account. They include the following.
i) Buy goods and services
A checking account allows you to buy goods and services online. You just need to log in to your online account and transfer the funds to the other account. For example, if using a high school student checking account, you can pay school fees, stationery, uniform, and much more for your learning by just sending money to the relevant accounts. Even though Citibank does not offer a student checking account, students can benefit from Citibank Access Checking.
You can also purchase goods using a debit card that links to your checking account. The card allows you to buy goods and services online and in physical stores. When buying online, you only need to provide the card number, expiry date, and CVV. You just need to swipe or tap at the register at physical stores.
ii) Send money to others
You can quickly transfer money to other account holders within your bank by using their account numbers. The funds reach their accounts within a few minutes. If sending money to someone in another bank, you need the routing and account numbers.
iii) Withdraw money
One can withdraw money from a checking account to use it for various things. You can carry out the process either over the counter by providing your identity card or any other identification documents to the cashier together with a wholly filled deposit slip.
Alternatively, you can withdraw money from your account using your debit card. You just need to visit an ATM point with the card and insert it in the machine, then input your PIN and proceed
iv) Write checks
A checking account allows one to write checks when you get the checkbook from your bank. A check allows you to pay people money for services offered. Some employers also pay their employees through checks. You can deposit or cash it out at a bank when someone sends you a check. You can also deposit checks in mobile wallets such as PayPal, Cash App, and Venmo.
v) Direct deposit
Direct deposit is a method used by government agencies to send money to beneficiaries and employers to their workers. You have to fill out a direct deposit form from your employer and submit it to the relevant source.
Does Citibank offer a second chance checking account?
Citibank does not offer a second chance checking account. A second chance checking account can rectify the banking mistakes with your previous bank accounts. Some institutions offer second chance checking accounts with no opening deposit.
A good example is Chime Second Chance banking, which does not require Chexsystems or a credit check. People enter into ChexSystems because of writing bouncing checks, closing their accounts with negative balances, and doing fraudulent transactions. A second chance checking account helps you rectify your banking practices.
Citibank is an American financial company that offers banking services to thousands of Americans across the country. The bank also operates internationally, and that makes it an international bank.
You can open your checking account online using a phone, tablet, or computer and a reliable internet connection. There are various checking account packages that you can get today to meet specific needs.