You can add a beneficiary to a Citibank savings account online, by phone, or in person at a branch

A beneficiary is a person you name to receive the money in your account if you die. Citibank lets you name one or more beneficiaries, and you can change or remove them at any time while you're alive. The process takes about 10 to 15 minutes if you do it online, and the change takes effect immediately—you don't need the beneficiary's permission or involvement.

The money passes to your beneficiary outside of probate, meaning it goes directly to them without going through the court system. This is faster than leaving money through a will, though the beneficiary still has to contact Citibank and provide a death certificate to claim it.

You'll need your account number and online login, or you can walk into any Citibank branch with your ID. If you call, have your account number ready and be prepared to verify your identity.

Key Takeaways

  • Add a beneficiary online through Citibank's website, by calling customer service, or by visiting a branch in person.
  • You can name multiple beneficiaries and decide what percentage of your account each one receives.
  • Changes take effect immediately and do not require the beneficiary to know or consent.
  • The money bypasses probate and goes directly to your beneficiary when you die, but they must contact Citibank with a death certificate to claim it.
  • You can update or remove a beneficiary at any time during your lifetime.

Adding a beneficiary online through Citibank's website

Log into your Citibank account on the website or mobile app. Go to the account settings or profile section—the exact location varies depending on which Citibank product you use, but it's usually under "Account" or "Settings." Look for an option labeled "Beneficiaries," "Designate Beneficiary," or "Transfer on Death."

Click to add a new beneficiary. You'll enter the person's full name, date of birth, Social Security number, and relationship to you (spouse, child, parent, other). Citibank will ask whether this person should receive a specific dollar amount or a percentage of the account. If you name multiple beneficiaries, the percentages must add up to 100 percent.

Review the information you entered, then submit. Citibank will send you a confirmation email. The beneficiary designation is active immediately, even though the beneficiary won't receive the money unless you die.

Adding a beneficiary by phone

Call Citibank customer service at the number on the back of your debit card or on your account statement. Tell the representative you want to add or change a beneficiary on your savings account. They'll verify your identity by asking for your account number, the last four digits of your Social Security number, and possibly a PIN or password.

Provide the beneficiary's full name, date of birth, Social Security number, and relationship to you. Tell the representative what percentage or dollar amount that person should receive. If you're naming more than one beneficiary, make sure the percentages total 100 percent.

The representative will read back the information to confirm it's correct, then process the change. Ask for a confirmation number and note the date. The change takes effect immediately.

Adding a beneficiary in person at a Citibank branch

Bring your ID and account number to any Citibank branch during business hours. Tell a representative you want to add or update a beneficiary on your savings account. They'll verify your identity and pull up your account.

You'll fill out a form with the beneficiary's name, date of birth, Social Security number, relationship to you, and the percentage or dollar amount they should receive. Sign the form in front of the representative. The branch will keep a copy and send you a copy by mail.

The change takes effect the same day. If you need the beneficiary designation to be active before you leave the branch, ask the representative to confirm it in the system before you go.

Naming multiple beneficiaries and splitting your account

You can name as many beneficiaries as you want on a single Citibank savings account. You decide how to split the money: you might give 50 percent to a spouse and 25 percent each to two children, or any other split you choose.

The percentages must add up to exactly 100 percent. If you change your mind about the split later, you can update it online, by phone, or at a branch—you don't have to remove everyone and start over.

If you name someone as a beneficiary but don't specify a percentage, Citibank will treat that person as receiving an equal share with any other beneficiaries who also don't have a percentage listed. To avoid confusion, always specify a percentage for each person.

What happens when a beneficiary dies before you do

If a beneficiary dies before you, that person's share does not automatically go to their heirs or estate. Instead, the money stays in your account, and you should update your beneficiary designation as soon as you can. If you don't update it and you die while that person is still listed, Citibank will hold the money and try to locate the deceased beneficiary's estate or heirs, which can delay payment.

Log in to your account or call customer service to remove the deceased beneficiary and reassign their percentage to someone else, or keep it for yourself if you want the remaining beneficiaries to receive a larger share.

Changing or removing a beneficiary

You can change a beneficiary's name, percentage, or relationship information at any time. Log into your account online, call customer service, or visit a branch. Find the beneficiary you want to change, update the information, and submit the change. It takes effect immediately.

To remove a beneficiary entirely, select that person's name and choose "Remove" or "Delete." Confirm the removal. If you're removing someone and want their percentage to go to another beneficiary, update that person's percentage before you remove the first one, or add the percentage back after removal.

Citibank does not notify the beneficiary when you make changes, so you can update your account without anyone else knowing. This is useful if your circumstances change and you want to remove someone without having that conversation.

What the beneficiary needs to do after you die

When you die, the beneficiary does not automatically receive the money. They must contact Citibank and provide a death certificate. Citibank will verify that the person is listed as a beneficiary, confirm the amount they're may have access to to, and process the transfer.

The beneficiary can call the number on the back of a Citibank card or visit a branch in person. They'll need to bring the death certificate and a photo ID. Citibank may also ask for a copy of the will or other documents, depending on the size of the account and the circumstances.

The transfer usually takes one to two weeks after Citibank receives the death certificate. The money goes to the beneficiary's own bank account or is issued as a check, depending on what the beneficiary requests.

Frequently Asked Questions

Can I name someone as a beneficiary without telling them?

Yes. A beneficiary does not need to know they are named on your account, and you don't need their permission. You can add, change, or remove a beneficiary at any time without notifying them. However, it's often a good idea to tell your beneficiary so they know what to expect and understand what to do if you die.

What if I name my spouse as a beneficiary and then get divorced?

Your ex-spouse remains the beneficiary unless you remove them. Divorce does not automatically change beneficiary designations on bank accounts. You should update your account as soon as your divorce is final to avoid your ex-spouse receiving the money. Check your divorce decree to see whether it requires you to change the beneficiary.

Can I name a minor as a beneficiary?

Yes, but the money cannot be given directly to a minor. When you die, Citibank will hold the money until the minor reaches the age of majority (usually 18 or 21, depending on your state). You can also name a guardian or custodian to manage the money on the minor's behalf, though this requires additional legal documents beyond the beneficiary designation.

Does naming a beneficiary affect my will?

No. A beneficiary designation on a bank account overrides your will. If your will says one person should receive the account but you named someone else as the beneficiary, the person named as the beneficiary gets the money. Make sure your beneficiary designation matches your wishes and your will.

What if I don't name a beneficiary?

If you die without naming a beneficiary, the money in your account becomes part of your estate and goes through probate. This means the court decides who gets it based on your will or state law, and it can take months or years. Naming a beneficiary avoids this process and gets the money to the person you choose much faster.