Citi Bank accounts are FDIC insured up to $250,000 per depositor, per account category, at each FDIC-member bank

Citibank, N.A. is an FDIC-member institution. This means deposits you hold there receive standard FDIC protection. The limit is $250,000 per person, per account ownership category, per bank. If you have $300,000 in a Citibank savings account in your name alone, the FDIC covers $250,000 and you lose $50,000 if the bank fails.

Citi operates multiple legal entities. Deposits at Citibank, N.A. (the main retail bank) are covered. Deposits at Citigroup Global Markets Inc., Citigroup Inc., or other Citi subsidiaries that are not FDIC members are not covered by FDIC insurance. Before opening an account, confirm you are depositing at Citibank, N.A., not a brokerage or investment subsidiary.

FDIC coverage is automatic — you do not need to register or take any action. The insurance applies the moment money enters your account. If Citibank fails, the FDIC pays you directly, usually within one to two business days.

Key Takeaways

  • Citibank, N.A. is FDIC insured, and the standard limit is $250,000 per person per account type.
  • Money market accounts, savings accounts, and checking accounts at Citibank are each covered separately, so you can hold $250,000 in each without exceeding the limit.
  • Joint accounts, retirement accounts (IRAs), and trust accounts have their own $250,000 limits and do not count against your personal account limit.
  • Citi brokerage accounts, investment accounts, and money market funds held through Citi subsidiaries are not FDIC insured.
  • You can verify Citibank's FDIC status and your coverage amount using the FDIC's BankFind tool on fdic.gov.

How FDIC coverage works across different Citi account types

The FDIC insures each account category separately. If you have a Citibank checking account in your name and a Citibank savings account in your name, each account is covered up to $250,000. You can hold $500,000 total across both accounts without losing coverage on either one.

Joint accounts are insured separately from individual accounts. If you and a spouse each have $250,000 in individual Citibank savings accounts, and you also have a joint savings account with $250,000, all three accounts are fully covered. The joint account limit is $250,000 total for the account, not per person.

Retirement accounts (IRAs, Roth IRAs, SEP IRAs) held at Citibank have their own $250,000 limit per account type, separate from your personal accounts. A Citibank traditional IRA and a Citibank Roth IRA are each covered up to $250,000. Trust accounts and accounts held for a minor also have separate $250,000 limits.

What Citi products are not FDIC insured

Citibank brokerage accounts are not FDIC insured. If you hold stocks, bonds, mutual funds, or ETFs through Citi, those holdings are not protected by the FDIC. They may be protected by SIPC (Securities Investor Protection Corporation) up to $500,000 per account, but that is a different insurance system with different rules.

Money market mutual funds sold through Citi are not FDIC insured, even if they hold cash or cash equivalents. Money market deposit accounts (MMDAs) at Citibank, N.A. are FDIC insured, but money market mutual funds are not. The product name matters — ask whether you are opening a money market deposit account or a money market fund.

Citi credit card balances, prepaid cards, and stored value cards are not FDIC insured. Citi investment advisory accounts and managed portfolios are not FDIC insured. If you are unsure whether a specific Citi product is covered, call Citibank directly or use the FDIC BankFind tool to confirm.

Checking your coverage amount with the FDIC BankFind tool

The FDIC provides a free online tool called BankFind at fdic.gov/BankFind. Enter "Citibank" and your state, and you will see a list of Citibank locations and their FDIC status. The tool shows the bank's FDIC certificate number and confirms it is an active member.

BankFind does not show your personal account balance or coverage amount. To see how much of your own money is covered, you need to calculate it yourself using the FDIC's coverage rules. Add up all deposits in each account category at Citibank, N.A. If the total in any category exceeds $250,000, only $250,000 is insured.

If you hold accounts at multiple banks, each bank's deposits are insured separately. Money at Citibank, N.A. does not count toward your limit at another bank. This is useful if you want to hold more than $250,000 in FDIC-insured deposits — you can spread the money across different FDIC-member banks.

What happens if Citibank fails

If Citibank, N.A. becomes insolvent, the FDIC steps in as the receiver. The FDIC does not take over the bank or keep it running. Instead, it either arranges for another bank to buy Citibank's deposits and accounts, or it pays depositors directly from the FDIC insurance fund.

In most cases, the FDIC arranges a purchase. You wake up one morning and your account is now at a different bank, but your money is still there and still insured. The transition usually happens over a weekend. You keep your debit card and online access, though you may need to update your login information.

If no bank buys the deposits, the FDIC pays you directly. This takes longer — typically one to two weeks — but you receive a check or electronic transfer for the full insured amount. Amounts over $250,000 in any single account category are not paid by the FDIC and may be recovered later through the bank's liquidation process, though recovery is often partial or zero.

FDIC coverage limits for high-balance depositors

If you have more than $250,000 to deposit, you have several options to keep all of it FDIC insured. The simplest is to open accounts at multiple FDIC-member banks. $250,000 at Citibank, $250,000 at Chase, and $250,000 at Bank of America means all $750,000 is covered.

You can also use different account categories at Citibank. A personal checking account ($250,000), a personal savings account ($250,000), a joint account with a spouse ($250,000), and an IRA ($250,000) gives you $1,000,000 in coverage at Citibank alone. Each category is insured separately.

Some depositors use a service called IntraFi, which automatically splits large deposits across multiple FDIC-member banks and keeps track of coverage for you. You deposit money at one bank, and IntraFi moves it behind the scenes to keep each bank's portion under $250,000. Citibank does not offer IntraFi directly, but some online banks that partner with Citibank do.

Frequently Asked Questions

Does FDIC insurance cover my Citi credit card or prepaid card balance?

No. Credit card balances and prepaid card balances are not FDIC insured. They are liabilities owed by Citi to you, not deposits. If Citibank fails, you would be an unsecured creditor and would recover money only after secured creditors and depositors are paid, which often means recovering little or nothing.

If I have $300,000 in a Citibank savings account, how much is covered?

$250,000 is covered by the FDIC. The remaining $50,000 is not insured. If Citibank fails, you receive $250,000 from the FDIC and lose $50,000. To cover the full $300,000, move $50,000 to a savings account at a different FDIC-member bank.

Are Citi online savings accounts FDIC insured?

Yes, if they are held at Citibank, N.A. Citi operates both traditional branch banks and online-only products under the Citibank, N.A. name. Both are FDIC insured up to $250,000 per account category. Confirm the account is at Citibank, N.A. and not at a Citi subsidiary before opening.

What if I have a joint account with my spouse at Citibank — is it covered for $250,000 each or $250,000 total?

Joint accounts are covered up to $250,000 total for the account, not per person. If you and your spouse have $300,000 in a joint Citibank savings account, $250,000 is insured and $50,000 is not. Each of you can also have a separate individual account with $250,000 coverage without affecting the joint account limit.

Can I call Citibank to confirm my FDIC coverage amount?

Yes. Citibank customer service can tell you whether your account is at Citibank, N.A. (FDIC insured) and confirm the account type. You will need to calculate your own coverage by adding up all deposits in each category and comparing the total to $250,000, since Citibank does not calculate coverage for you.