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Founded in New York in 1812, Citibank is the consumer division of Citigroup. 

Citigroup Inc. or Citi (the parent group of Citibank) is a multinational investment banking and financial services corporation in America. The group was formed by the merger of banking group Citicorp and financial conglomerate Travelers Group in the year 1998.

Citibank is said to have $24 trillion of assets under management (as of 31st December, 2020) and 204,000 employees worldwide.

Citibank provides different individual and institutional banking and financial services that they hope will enable overall economic development.

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Citibank's services can be divided into four main categories:

  1. Banking
  2. Lending
  3. Investing
  4. Wealth management

Additionally, Citibank has a range of credit cards and rewards programmes such as Citi Easy Deals, Citi Entertainment and other special offers for clients.

Let's have a look into what exactly Citibank offers under each category mentioned above.

1. Banking:

Citibank offers clients personal accounts, time deposits, fund transfer services, FX order watch, debit cards and more.

  • Personal accounts:
    Citibank claims to help clients manage their everyday banking needs with their different accounts such as the Citi blue and private banking services like Citigold private client.
  • Current accounts:
    Citibank's current accounts claim to provide clients with greater flexibility. These accounts offer convenience and ease of use to both individuals and businesses. You can withdraw up to AED 40,000 a day through Citibank's ATMs worldwide and get access to 24 hour online banking services.
  • Savings accounts:
    Citi savings account claims to help you reach your savings goal faster through competitive interest rates, mobile banking, online banking and access to your money at any time. This account allows you to withdraw up to AED 20,000 per day and allows clients to save in a range of currencies.
  • Citibest account:
    This account is for people looking to save with high interest rates. The interest in this account is calculated daily on the end of the day balance maintained in Citibest USD account. The interest rates are as follows:

    CitiBest balance

    Interest rate*
    USD 0 to 9,999 0.05%
    USD 10,000 to 999,999 0.10%
    USD 1,000,000 or more 0.15%

    *Please note that these rates may change from time to time and from country to country - we would recommend contacting Citibank directly for the latest information.
  • Time deposits:
    Time deposit or fixed deposit accounts by Citibank are meant to enable clients to preserve an initial amount, while earning interest on it. Citibank allows you to choose a tenor that matches your needs. This ranges from 30 days to 1 year and is available in all major currencies.

Priority banking accounts:

Citibank offers two priority banking options:

  1. Citigold:
    Citigold promises private clients a lot more than just banking services, it includes off-shore and onshore banking solutions with a relationship manager based in UAE. They also offer wealth management solutions, preferential pricing on banking transactions and special cards.
  2. Citigold private client:
    This has similar benefits to the one mentioned above, along with wealth solutions, advisory insights and a team of experts Citibank says are there to support all their private clients.

2. Lending:

Citibank offers personal loans, salary transfer loans and other lending and overdraft solutions to their clients. Additionally, Citibank also finances loans for buying houses and allows you to borrow against your home and make debt consolidations.

3. Investing:

Citibank offers self-directed trading and expert advised options when it comes to investing. 

Their investment products include:

  • Mutual funds
  • Fixed income securities
  • Structured notes
  • E-brokerage
  • FX order watch
  • Loan currency switch

Citibank also provides market insights like daily currency updates, economic, stock market news and key global development updates.

4. Wealth management:

Citibank's wealth management service essentially includes their investing services mentioned above and their private banking options of Citigold and Citigold Private Client.


We would highly recommend reading the expert verdict section of this review to make an informed financial decision.

Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:

  • Academic evidence only shared with a select few firms across the world
  • A real-life example of why you should never try to outguess the market
  • Why a fund's past performance is not enough to predict future returns
  • Why you need to focus on what you can control and why this leads to a better investment experience
  • Why you should accept the markets for what they are
  • What can impact behaviour and make people seek instant gratification

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The Pros

> Global access
> Retail banking
> Known brand

The Cons

> Likelihood of higher fees
> Not the best way to invest
> Push their own services
Does Citibank allow you to open more than one account?

Subject to any minimum balance, service fee or other requirements Citibank may have, the customer may request Citibank in writing, over the telephone or through Citibank online (where possible) to open an additional account in their name.

What is Citibank's Global Wallet and what does it do?

Citibank's Global Wallet allows you to shop on international websites using your Citibank debit card, while paying zero foreign transaction or currency conversion rates.

It essentially allows you to switch to the currency you want to purchase in before making the payment.

This is available for the following currencies:

  • AED
  • USD
  • EUR
  • GBP
  • AUD
  • CAD
  • NZD
  • CHF
  • JPY
Who can avail of Citibank's private banking services?

Citibank's private banking services are mainly aimed at:

  • Wealthy individuals
  • Family offices
  • Professional investors
  • Lawyers and law firms


Have you used Citibank's services?

Join the conversation - be the first to comment.

Please send your review and comments to marketing@aesinternational.com to help people make an informed decision.

Expert assessment of Citibank

Citibank is a very large bank backed by a well-known brand.

This does make it one of the better options for senior international investors, however your banker will only able to push Citibank’s own products and services, as opposed to being able to offer you the best available, which will likely lead to higher fees. Its bankers are also more likely to come from a retail banking background than a private banking one.

If you are already a private banking client of Citibank, we would recommend a no-obligation Second Opinion to ensure you are on track to reach your ideal future.

Additionally, we are happy to review the financial plan that has led to the investment portfolio you currently have.


Citibank - Fees and Charges

Citibank - General Terms and Conditions

Citibank - Private Banking Factsheet

Citibank - Private Banks Investing Factsheet

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