Citibank is a traditional bank with a long history dating back to 1812 when it was founded. The bank was one of the first U.S. banks to open overseas offices and introduce ATMs, giving its customers 24-hour access to cash. It was also one of the pioneers of credit cards. In 1968, the company created its own credit card. Later, in the 1980s, Citibank introduced the Citicard, eliminating the need to carry a passbook. Citicard owners could get basic account information at branches using one-line terminals before submitting bank teller services.
Today, Citibank is a large multinational banking group with over two thousand branches in 19 countries. It is a well-established institution with a strong A rating from Fitch. Still, it remains open to innovations. Using a 300-baud dial-up connection, Citibank pioneered online account access in 1982. In 1991, Citibank.com was registered and initially served as a domain name for e-mail and other internet communications. In 2011, Citi launched an online banking service and a mobile banking app. In 2022, the bank continues to improve its digital services. Our Citibank review examines its app to see if Citi digital banking keeps up with advanced fintech products.
Citibank app review
Insider Intelligence ranked Citibank’s mobile app among the top five U.S. banking apps. With this app, users can not only make money transfers and check their balances but also manage their money efficiently, access in-depth spending statistics, request loans, and more. The company is continuously upgrading the app’s functionality and performance. The high score (4.7) from Google Play users seems well deserved.
Due to Citibank’s global presence, it offers a variety of apps in different countries. Additionally, there are apps for corporate clients, as well as for Citi Private Bank clients. Citigroup even provides a fitness app. Our Citi review can’t cover all of them, so we’ll focus on the US version of the Citi Mobile application.
Citi Mobile app (Google Play)
Category: Finance, Banking
Released: Sep 22, 2011
Current version: 9.61.1
Latest update: Apr 28, 2023
Downloads: Over 10 million
Rating: 4.9
Citi’s latest app update focuses on bug fixes and performance improvements.
Onboarding
Citibank accounts can be opened in person, over the phone, or online. Online enrollment can be completed on the website. First, a user needs to choose the card type. Then, the customer has to fill out an application form, which includes one’s name, social security number, address, phone number, and financial information. Lastly, customers must choose a security word and agree to the terms. Being an existing customer and having all the credentials makes it possible to sign in to the app. The card number is used as the user ID. To complete the username field, customers can either enter the card number or scan the card. We loved the second option since it saves a ton of time and nerves.
Services
Various current accounts are available for Citibank customers depending on their location, income, and preferences: Citi Custom Cash, Citi Diamond Preferred, Costco Anywhere Visa, Double Cash Credit Card, etc. All of these accounts are free of annual fees. Rates and benefits vary according to the package selected. However, all Citibank customers can equally use its app, which has many useful features to offer:
- Current accounts with no annual fees
- No minimum opening deposit for current accounts
- Apple Pay and Google Pay
- Worldwide ATM/Branch locator
- Real-time payments
- Zelle payment system integration
- Instant access to account summary without signing in every time (Citi Mobile Snapshot)
- Automatic bill payment
- Statistics and money management tools
- Cards control (freeze/unfreeze, specific payment blocks, etc.)
- Cashback
- Discounts and reward programs
The app allows multiple bank accounts to be integrated and managed. Citibank’s mobile app also breaks down critical factors contributing to a credit score calculated by Fair Isaac Corporation (FICO).
Design & usability
Despite some lags a professional UI/UX designer could spot, Citibank app users generally find it a positive experience. Intuitive navigation makes the app convenient for non-tech-savvy users. Clean backgrounds, laconic icons, and comprehensive visuals create a positive impression. Undoubtedly, the Citi app team is dedicated to continually improving the app and is responsive to users’ needs.
Reliability & security
Citi Mobile is a highly secure banking app. Enhanced security features cryptographically bind each user’s account to their specific mobile device. The user account cannot be cloned, tampered with, or compromised even if the device has been compromised. The app encrypts all customer information with 128-bit SSL. Access to a user’s account can only be granted with a user ID and PIN or a user’s biometric data. Additionally, there are security questions, one-time-use codes, session timeouts, and AI algorithms for detecting fraud.
Support
For questions related to accounts and apps, Citibank provides an online help center. If necessary, users can fairly easily contact support representatives via telephone, email, or live chat in-app. However, team efficiency sometimes suffers. Resolving issues takes weeks, according to Citibank user reviews. Departments and units don’t often communicate effectively.
Our verdict
4.8 stars out of 5. Citibank is a national bank with a range of products and services, an extensive ATM network, and a history of stability. At the same time, it offers the convenience of an online bank. Citi’s app is reliable, secure, and easy to use. However, the fees are somewhat high (although comparable with other banks). Additionally, the customer support service needs to be improved.
What we like about Citibank:
- Current accounts with no annual fees
- No minimum account opening deposit
- Apple Pay/Google Pay
- Real-time payments
- Spending statistics and money management tools
- Automatic bill payments
- In-app cards control
- Cashback
- Discounts and reward programs
- ATM/branch locator
What we dislike about Citibank:
- Cash withdrawals and payments are expensive
- Low certificate of deposit (CD) rates
- Inefficient customer support
Why Citibank?
Citibank offers a wide range of financial services for both individuals and businesses. In general, Citi’s rates are higher than those of the neobanks but are comparable with those of other banks. Remaining a traditional bank, Citi nevertheless offers a fintech-type application. The app may lack some of the most innovative features, but it has everything users need for comfortable mobile banking.
Value for customers
With Citibank, one can open a current account at a large international bank and get loans, mortgages, and other financial services without annuities or minimum deposits. The bank also gives convenient access to money, with over 65,000 ATMs and over 2,300 branches in the U.S. Citi’s app also comes with features similar to many popular fintech products.
Value for partnering businesses
Citibank has an extensive global partnership network. Other banks, large brands, retailers, and fintech startups are among its partners. With an open banking architecture, Citi offers developers and consumer brands direct access to the bank’s APIs. Essentially, any company with a special offer for Citibank customers or a technology or finance solution that benefits Citibank can join the partnership network. A detailed overview of the terms of cooperation can be found on Citi’s website.
