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Citi Small Business Checking Summary

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Michael Graw
Michael Graw
May. 10, 20224 min read

Citi® Small Business Checking summary

Citi is the online and mobile banking platform from Citigroup, one of the “Big Four” banks in the United States. Citi offers most of the same products and services found at thousands of Citi branches in the U.S., along with a stack of dedicated online features. With basic and premium checking accounts, Citi appeals to a broad audience of online banking customers.

Pros

  • Minimum $1 deposit to open an account
  • Options to waive monthly account fee
  • High monthly transaction limits

Cons

  • No free business checking accounts
  • Cannot open an account online

Citi® Small Business Checking Citi® Small Business Checking Visit Citi Business

Advantages Over Traditional/Private Checking accounts

Citibank business checking accounts offer high monthly transaction limits to suit the needs of your business. The Streamlined checking account offers 250 monthly transactions and up to $10,000 per month in cash deposits, while the Flexible checking account offers 500 monthly transactions and up to $20,000 per month in cash deposits.

You can open a Citibank business checking account with as little as $1. In addition, the fees for the Streamlined and Flexible accounts are waived when you have a balance of at least $5,000 or $10,000, respectively. The Streamlined account costs $15 per month. The Flexible account costs $22, $25, or $30 per month depending on your location.

Citibank also offers an Interest checking account, which earns interest on your cash. Interest rates and monthly account fees vary by location, but the monthly fee is waived if you have at least $10,000 in your account. The Interest account costs $22, $25, or $30 per month depending on your location.

 Citibank is currently offering new customers up to $2,000 when you open an Analyzed Streamlined or Flexible business checking account. To qualify for the offer, you must be a new Citibank Retail Business Banking customer and make a deposit of at least $5,000 within 30 days of opening your account. You must maintain the balance for 60 days to earn the bonus.

Cutting-Edge Banking Services

All Citibank business checking accounts include access to online banking, bill pay, and account alerts. Citi also has a mobile app to enable deposits and transfers on the go.

One of the unique aspects of Citibank business checking accounts is that they integrate with Citibank’s Checking Plus program, a revolving business line of credit. You can use this line of credit to automatically pay overdrafts or bills.

Traditional Banking Services

Citibank has more than 700 physical branches throughout the US and more than 60,000 fee-free ATMs. The bank offers a wide range of traditional services including credit cards, personal checking and savings accounts, CDs, mortgages, and a self-directed investing platform. Citibank also offers small business loans.

Current Promotion

For a limited time, Citibank is offering new business checking customers up to $2,000 when you make a qualifying deposit of $5,000 to $200,000 within 30 days of opening an account.  

Customer Service and Online Experience

Citibank offers 24/7 customer support by phone, email, and live chat. You can access live chat online or through the Citibank mobile app. The customer service agents are helpful but not always very knowledgeable, and you may be on hold for a long time if you contact the support team by phone. You can also get help by visiting any Citibank branch.

The Citibank website has a detailed online knowledge base. The knowledge base is well-organized and searchable, making it easy to find the information you need.

Importantly, you cannot sign up for a new Citibank business checking account online. You must call or visit a branch to set up a new account. 

Mobile App 

https://www.youtube.com/watch?v=YMddKCiSqjk


Citibank offers a free mobile app for iOS and Android. It enables you to view your transactions, transfer money, and deposit checks to your business checking account. You can also use the app to manage your online bill pay or to access your revolving line of credit if you have one.

Security

Citi uses 2-factor authentication, biometric authentication, and 128-bit SSL encryption to protect customer accounts. You can instantly lock your account from your online dashboard or the Citibank mobile app. In addition, you are not liable for any unauthorized transactions made using your business checking debit card.

Summary

Citibank offers business checking accounts with up to 500 transactions per month and up to $20,000 in monthly cash deposits. You can integrate a Citibank Checking Plus revolving line of credit as well as pay bills online. For a limited time, Citibank is offering new business checking customers up to $2,000 when you make a deposit of $5,000 within 30 days of opening an account.

Conclusion

Citibank has more than 700 physical branches and 60,000 ATMs across the US, and you can monitor your checking account on the go with a free mobile app. You must visit a Citibank branch or call customer support to open a new business checking account.

Citi® Small Business Checking Citi® Small Business Checking Visit Citi Business

Editorial Note

Any opinions, analyses, reviews, or recommendations expressed in this review are those of the author’s alone and have not been endorsed by Citibank. 


Michael Graw
Written byMichael Graw

Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

Citi® Small Business Checking
Citi® Small Business Checking
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