Citibank is an American institution in more sense than one. Its growth since its founding in 1812 has been phenomenal, and today it has trillions in assets, millions of customers, and an impressive portfolio of banking products.
Citigroup Inc., Citibank's parent holding company, is mind-bogglingly huge. According to the Federal Reserve, it had total assets at June 30, 2010, of $1,937,656,000,000. For those who get bored adding up zeros, that's very nearly two trillion dollars. The big numbers continue. The group operates in 140 countries, and has around 200 million customers worldwide.
Nobody gets to be so big without making a few enemies, and even a casual online search will reveal plenty of people who have a beef with Citibank. However, nobody gets to keep 200 million customers without doing a great deal right.
Often, problems arise as a result of people choosing a bank that doesn't suit their needs. Those who are nostalgic for the sort of banking seen in "It's a Wonderful Life" may find Citibank's approach too impersonal, and its problem resolution too bureaucratic. However, those whose priority is attractive banking products that are generally delivered with great efficiency should investigate the bank's product portfolio further.
Citibank has four types of checking account, each designed with different customers' needs in mind. These range from Basic Checking all the way up to the Citigold® Interest Checking.
There are two types of savings account (Ultimate Savings and Citibank Savings Plus) as well as the Citibank Premier Money Market Account. The bank's CD offering includes 16 different terms, ranging from three months to five years. IRAs and HSAs are also available. Naturally, deposits are insured in accordance with current FDIC requirements (although Citibank would probably be deemed a "too-big-to-fail" bank).
Given the size of Citibank's customer base, it's no surprise that it has user-friendly online banking, and 24-hour customer service call centers. Its mobile banking service may be accessed from an iPhone, a smartphone, or a traditional cell phone using SMS text messaging. N