Wells Fargo is one of the largest banks in America, with over 5,400 locations and 13,000 ATMs across the nation. On the other hand, Citibank is also very popular and has 700 branches across the US. Both of these banks offer a wide variety of products, from checking to savings accounts, so you can be sure to find one that fits what you’re looking for.
If you’re not sure which bank you want to open an account with, keep reading to learn everything you need to know about both of these banks to determine which one is the right fit for you.
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| Citibank | Wells Fargo | |
| Locations | 700 Citibank branches across 13 states (Locator) | 6,000+ Branches (Bank Locator) |
| ATMs | 2400 ATMs across the country. Also works at all MoneyPass ATMs | More than 13,000 ATMs across the country. |
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| CD | 0.05% – 1.01% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets. | Standard Term CD: 0.05% – 0.15% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Special CD: 0.30% APY. Terms of 5 months. Minimum deposit of $5,000. Bonus of up to 0.35% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. |
| Money Market | A.k.a ‘Savings Plus’ Account. 0.01% – 0.10% APY. Minimum opening deposit $100. | Also known as the Platinum Savings Account. 0.05% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 0.08% requires account linked to Portfolio by Wells Fargo® relationship. |
| Customer Service | 24/7 Live Customer Service (Telephone) | Available 24 hours a day, 7 days a week. |
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| Bottom Line | Citibank is offers credit cards and banking services, but it’s more geared towards people who have high balances in their deposit account. | If you’re looking for stability and your basic banking features, Wells Fargo is a good option for you. |
Citibank Promotions
- Citigold Account Package: A Citigold relationship opens the door to Citi’s highest level of professional service, financial guidance and exclusive benefits.
- Citi Priority Account Package: A Citi Priority relationship includes integrated servicing, support for your financial needs, on-demand guidance and a breadth of pricing and lifestyle benefits.
- Citi Accelerate Savings. There is no limit on earnings and no minimum opening deposit required to earn this amazing rate.
Wells Fargo Promotions
- Everyday Checking: Provide a small deposit to qualify. Additi onally, monthly fee can be waived by making a certain number of debit/credit purchases.
- Preferred Checking: Earn interest if you meet the minimum balance. Furthermore, if you have a Wells Fargo mortgage, your monthly service fee waived for this checking account.
- Portfolio by Wells Fargo: This account is great for those who have a significant amount of money. Also, you may earn higher interest rates with the Portfolio account.
- Way2Save Savings: Good for those who find it hard to save money.
- Platinum Savings: If you keep a higher balance in your savings account, you may have access to higher interest rates with the Platinum Savings.
- Wells Fargo CDs: Perfect for those who can save money aside and earn a higher rate.
Author’s Verdict
Overall, if you choose either of these banks, you’ll be sure to get a great banking experience. Whether you’re looking for a checking or savings account, both these banks have great options and you can gain access to many great features that come with the account.
In addition, we have a list of bank promotions to get some extra cash in your pockets today. You may also want to check out savings accounts if you want to get started on saving up money.
