Chase Bank and Citibank, both are national banks of America. They have headquarters in New York itself. Citibank got founded in 1812, and it has branches in 19 Countries. Whereas Chase Bank in 1955, and it has 5100 branches in 100 Countries. Both the banks, Chase Bank and Citi Bank have their features and services that are somewhat different from each other .Let us know Chase Bank vs Citibank Which Is Better in this article…!
The primary difference between them is that one will have more ATM access and another has more branches throughout the country. Here is a brief comparison between Chase Bank and Citibank.
Chase Bank Vs Citibank:
Savings Account
Chase savings bank account offers many services. They also provide interest on the savings account. It also accesses mobile banking and allows you to access the 4700 branches and 16000 ATMs.
It charges a monthly service fee. It charges a withdrawal fee on transferring or withdrawing the amount from the Savings Account. Whereas Citibank’s account offers banking services but also gives access to the facilities of Internet banking and a complimentary debit card. They also offer an Interest Rate of 2.50% p.a. The Citi Bank does not cost any kind of charges for banking services.
Note: Through the above difference we came to know that Citibank is much preferable to Chase because it does not charge any kind of fee on the banking services.
Chase Bank Vs Citi Bank: Checking Account
Chase Bank Checking Account allows you to pay online bills and allows access to Net Banking also. It charges $12 as monthly fees. It has the feature of Autosave, which automatically transfers the saving amount to the chase saving account. No fees will be charged if you draw by $50 or less than it.
Citibank checking account, allows you to access the ATM in the US, and no fees will be charged at non-Citi ATMs. It charges $15 as monthly fees if you maintain an average balance of $5000 in your checking account.
Chase Bank Vs Citi Bank: Customer Service
Chase Bank provides Customer Service by phone from 8 am-12 am for Monday-Friday and 8 am-8 pm on weekends. They also provide email or social media support. Citi Bank customer service is available on phone 24/7. It supports social media and messaging services.
Advantages And Disadvantages Of Chase And Citibank
Chase Bank
Advantages
1. Digital Banking, Chase Bank provides a Digital banking platform that allows cardless ATM Transactions and online services as well.
2. Low monthly charges, Chase Bank offers low monthly charges than Citi Bank.
3. Chase Bank has more branches, It has nearly 4700 branches in over 19 countries.
4. Anyone can access a checking account, Chase Bank allows the kids also to access the checking, especially those who are college students. The bank does not charge any kind of monthly fees and no minimum deposit requires for the account.
Disadvantages
1. Less ATMs, it has very less no. of ATMs.
2. Low opening Bonus, during opening a checking account you can earn up to $200 whereas Citibank provides a bonus of up to $1500.
Citi Bank
Advantages
1. Account opening Bonus, If you are opening an account in Citi Bank then, you can earn up to $1500as a bonus.
2. Worldwide ATMs, It has mostly 70000 ATMs.
3. High-Interest rate, the interest rate which you received on the saving or checking account is up to 2.5% p.a.
4. Branches all over the world, It has international branches also.
Disadvantages
1. Fewer branches, Citi bank has only 700 branches in the US which is less than the Chase Bank.
2. Limited CD option – It ranges from three months to five years whereas chase bank offers from 1 month to 10 years.
3. Requirements to waive monthly fees. Citi banks want that you have a minimum balance of $1500 to bypass Citi’s monthly fees.
Conclusion
Both of the banks provide mostly the same services but differ due to some processes. One gives a higher rate of interest than the other, while another one charges no kinds of fees. One has more ATMs whereas another has more branches. You just need to compare them and find which is suitable according to you. Just follow the best one and get the benefits of that bank.
Frequently Asked Questions
1. Which bank provides more interest rates on saving accounts?
Citi Bank provides more rates of interest on Saving accounts.
2. Does Citi Bank provides customer services?
Yes, Citi Bank provides customer services 24/7 on the phone call.
3. Which Bank was founded earlier Citi Bank or Chase Bank?
Chase Bank was founded earlier in 1799, in New York United States.
4. Which bank is on the top in America?
Chase bank is one of the top banks in America.
