Citibank is comprised of the consumer banking and lending divisions of two companies: Citicorp and Citi Holdings. At one time, both banking and lending services were a part of Citigroup. Today, Citicorp operates Citibank's consumer banking services, and Citi Holdings operates Citibank's consumer lending and asset management services. Citibank banking services consist of a diverse selection of bank account options that include state-of-the-art consumer conveniences such as online banking, mobile banking and text banking.


In 1812, a New York State charter authorized the creation of City Bank of New York, the company that would eventually become Citibank. Samuel Osgood was the first president of City Bank.

City Bank became one of the leading banks of the United States by the end of the 19th century and the first U.S. bank to operate internationally. After a merger with First National Bank in 1955, the name of the bank changed to First National City Bank of New York.

First National City Bank entered the credit card business in 1965 when it acquired the Carte Blanche card. The bank later put out its own credit card called the Everything Card, which later joined with MasterCard.

In 1976, the First National City Bank reorganized by forming a holding company called Citicorp, and banking division became known as Citibank, N.A. Citibank became an early proponent of automated teller machines (ATMs) and was one of the first banks that used bankcards in place of bankbooks.

In 2008, Citibank announced the company had experienced losses of $8 billion to $11 billion due to the subprime mortgage crises. The bank stayed afloat due to the receipt of federal bailout funds. Two months after receiving the funds, the corporation split into Citicorp and Citi Holdings.


Citibank offers several bank account options for consumers. Three different Citibank checking accounts are available to meet the needs of all customers: Basic Checking, The Citibank Account and Citigold Interest Checking.

Customers can open a Basic Checking account with no minimum deposit, and the account has no monthly fees. The Citibank Account is for those with a minimum balance of $6,000, while the Citigold Interest Checking account is for those who expect to maintain a $50,000 combined average balance.

Savings accounts come in two varieties. The Day-to-Day Savings Account does not require a matching checking account and has a $100 minimum opening deposit. The Citibank Savings Plus Account allows customers to earn interest at a premium rate.

Citibank banking accounts are easy to open and convenient to maintain. Customers can complete transactions and check account balances in-person at branch locations, online or on any mobile phone through text banking or the Citibank mobile application.

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