Not all Citi checking accounts charge a monthly fee, but most do unless you meet specific balance or deposit requirements

Citibank offers several checking account products, and the monthly maintenance fee depends on which one you open. The Citi Checking account charges $10 per month, but you can waive it by maintaining a $1,500 minimum daily balance or setting up direct deposit of at least $500 per month. The Citi Priority Account (available to customers with higher wealth levels) has different fee structures tied to account tier. Citi also offers accounts with no monthly fee, though these are less common in their current lineup and may have other limitations.

The fee structure matters because it affects how much you actually pay to hold your money there. If you cannot meet the waiver requirements, you will pay $120 per year just to have the account open. Before opening any Citi checking account, confirm the current fee and the exact waiver conditions, since Citi changes these terms periodically.

Key Takeaways

  • Citi Checking charges $10 monthly but waives the fee if you keep $1,500 in your account or receive $500 in direct deposits each month.
  • Citi Priority Account fees vary by tier and are designed for customers with substantial assets or income.
  • Some Citi checking products have no monthly fee, though they may come with restrictions on features or account access.
  • Fee waivers reset monthly, so you must meet the requirement every month to avoid the charge.

How the $1,500 minimum balance waiver works

The minimum daily balance requirement means your account must hold at least $1,500 every single day of the month. Citi calculates this by checking your balance at the end of each business day. If your balance drops below $1,500 on even one day, you do not meet the waiver for that month and the $10 fee posts to your account.

This is stricter than an average balance requirement. If you have $2,000 one day and $1,000 the next, you have failed the waiver even though your average is $1,500. The money must stay above the threshold continuously. For people who live paycheck to paycheck or who move money frequently between accounts, this waiver is often impossible to maintain.

How the direct deposit waiver works

Direct deposit of at least $500 per month waives the fee regardless of your balance. This means your employer (or another source like Social Security or a pension) must deposit money directly into your Citi account, and the deposit must be $500 or more in a single transaction. Multiple smaller deposits do not count unless they add up to $500 in a single deposit.

The direct deposit must post during the calendar month to count toward that month's waiver. If your paycheck arrives on the 31st and you are paid monthly, you have one deposit per month. If you are paid biweekly, you have two or three deposits per month, so you easily exceed $500. If you are self-employed or receive irregular income, this waiver may not work for you.

Citi Priority Account fees and tiers

Citi Priority is a tiered account structure for customers with higher balances or income. The account itself does not charge a monthly fee at the base level, but the fees and benefits change depending on which tier you are placed in. Tier placement is based on your total relationship with Citi—how much money you have in deposits, investments, or loans across all your accounts.

If you maintain a high enough balance across your Citi accounts (typically $50,000 or more in combined deposits and investments), you may may have access to for Priority status with no monthly checking fee and additional perks like fee waivers on other services. The exact threshold changes, so contact Citi directly to learn whether you may have access to. Most customers do not have enough assets to reach Priority status.

No-fee checking accounts at Citi

Citi has offered no-fee checking accounts in the past, but these are not always available. When they are, they typically come with trade-offs: limited branch access, no physical debit card, or restrictions on the number of transactions per month. Some no-fee accounts are only open to existing Citi customers who already have savings or investment accounts.

Check Citi's website or visit a branch to see what no-fee options currently exist. Availability varies by state and by your customer status. If you find a no-fee account that meets your needs, it eliminates the need to track balance or direct deposit requirements every month.

What happens if you do not meet a waiver requirement

If your balance drops below $1,500 or you do not receive a $500 direct deposit in a given month, the $10 monthly maintenance fee posts to your account on a set date (usually near the end of the month). The fee is deducted from your balance automatically. You cannot dispute it or ask for a refund unless you can show that Citi made an error in calculating your balance or recording your deposit.

If you miss the waiver one month but meet it the next month, the fee does not carry over or compound. You pay $10 for that one month only. However, if you consistently fail to meet either waiver, the fees add up quickly—$120 per year is significant for people on a tight budget.

How to avoid monthly fees at Citi

The simplest path is to set up direct deposit if your employer or income source offers it. Once it is configured, the waiver happens automatically every month with no action on your part. You do not have to think about it or monitor your balance.

If direct deposit is not an option, you must keep $1,500 in the account at all times. This works if you have savings or if you can arrange your spending so that money stays in the account. Some people use Citi as a holding account and transfer money out only when they need it, keeping the minimum in place.

If neither waiver is realistic for your situation, compare Citi's checking to other banks. Many regional banks and online banks offer checking with no monthly fee and no minimum balance. The $10 per month may not sound like much, but it adds up over time, and you may find a better fit elsewhere.

Frequently Asked Questions

Can I waive the fee with both direct deposit and a minimum balance, or do I have to pick one?

You only need to meet one requirement to waive the fee. If you have both direct deposit and a $1,500 balance, the fee is waived. If you have only one, the fee is still waived. You do not get a discount or extra benefit for meeting both.

Does the $1,500 minimum include money I owe on a credit card or loan?

No. The minimum balance is only the money in your checking account itself. Debts or loans do not count toward it. Only the available balance in the checking account matters.

If I get paid biweekly, does that count as two direct deposits per month?

Yes. If your employer deposits $500 or more every two weeks, you will have two deposits per month (or three in months where you are paid three times). Each deposit counts separately, so you easily meet the $500 threshold.

What if my direct deposit is less than $500?

A single deposit under $500 does not waive the fee for that month. You would need to meet the $1,500 minimum balance requirement instead. Multiple deposits do not combine unless they are part of a single transaction.

Can Citi refund a monthly fee if I did not know about the waiver requirements?

Citi may refund one or two fees as a courtesy if you contact them and explain the situation, but they are not required to. The waiver terms are disclosed in the account agreement and on their website. If you have been charged multiple times, it is worth calling to ask, but do not expect a refund for months that have already passed.