Citibank

Citibank is one of the most solid banks worldwide, operating in 94 markets. Although the bank primarily cooperates with US clients, its services are also available to non-residents of North America. But how to open an account with Citibank if you do not live in the USA? What documents do you need, and which requirements should you follow? Keep reading our article to learn all this essential information.

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History

Citibank History in Short

Citibank is the primary banking subsidiary of the US-based multinational corporation Citigroup. It was founded in 1812 as the City Bank of New York and later became the First National City Bank of New York. The company has official branches in 19 countries and operates across 94 markets.

The first president of City Bank was Samuel Osgood. Throughout its history, the company has undergone numerous changes and leadership transitions. One of the key milestones was in 1865 when the bank joined the United States National Banking System under the National Bank Act and became The National City Bank of New York. Notably, after 1893, the bank emerged as one of the largest in the United States.

In 1914, National City Bank became the first US bank to open a foreign branch, established in Buenos Aires, Argentina. By 1919, it also became the first US financial institution to reach $1 billion in assets.

Here are several key events that shaped Citibank’s operations and financial history:

1960s. The bank entered the credit card business, launching The Everything Card.
1980s. Citibank introduced Citicard, which allowed customers to make transactions without a passbook and use ATMs. In 1984, John S. Reed became the bank’s CEO and expanded the company’s presence to 90 markets.
2000s-2010s. These years marked rapid growth for the bank, including rebranding its cards under the name Department Stores National Bank. Plus, the financial company acquired Best Buy’s credit card portfolio from Capital One and became the exclusive issuer of Costco’s branded credit cards.

Although Citibank exited several markets in 2021, including Russia, Vietnam, Bahrain, China, Indonesia, and South Korea, among others, the company remains one of the most successful in the financial world.

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Services

The Main Citibank Services

Before opening an account with Citibank, you should know what services you can obtain from this financial company. We have listed the most top-rated ones below:

Personal banking. You can open Citibank checking and saving accounts for managing your daily finances.
Credit cards. You may select a suitable option from various credit cards with beneficial reward programs. For instance, you can pick Citi® Advantage Business World Elite Mastercard®, Citi® Advantage® Executive World Elite Mastercard, Citi Strata Premier℠ Card, etc.
Online and mobile banking. Managing your accounts online or through the mobile app is a key part of Citi’s service – features like mobile check deposit make banking quick and convenient.
Loans and mortgages. You can opt for personal home loans according to your needs and goals.
Insurance. There are numerous types available, including health and accident insurance.
Business services. We should note such services as trade financing and liquidity management. Small businesses and startups may pick specialized services as well.

Regarding additional services, Citibank provides global money transfers and has its own Citi Mobile App for wealth management and investing. Additionally, you can utilize bank investment services offered by companies such as Morgan Stanley (MS), CME Group Inc. (CME), and Raymond James Financial, Inc. (RJF), among others.

Account Types

The Most Popular Account Types

Based on our clients’ preferences, these are the most popular bank account types:

Citibank basic checking account. This is the most basic account option, brilliant for clients with no initial savings but who can maintain a combined average monthly balance of $1,500 across linked accounts. It allows customers to write paper checks and access mobile banking, Zelle transfers, bill payments, and more. Clients also may receive a debit card for everyday use.
Citi Priority. This account type allows you to grow your savings with competitive interest rates – up to 7.51% p.a. Clients also get access to financial advisors and global support from dedicated managers. You must maintain a balance of over $30,000 to open this account.
Citigold checking account. This option is ideal for clients with a minimum combined balance of $200,000. It offersfee-free financial transactions, preferred rates on investment and lending products, and access to a dedicated advisor for personalized financial guidance.

Benefits

Top Reasons to Pick Citibank for Your Account

So, above, we’ve covered the three main types of accounts you can open with Citibank. Now, it’s time to talk about the benefits of picking Citibank. Initially, having become a Citibank client, you gain access to international banking services – the bank operates in over 90 markets, making global money transfers fast and seamless. You can select an account that fits your financial needs for personal or business purposes.

Citibank offers competitive interest rates, cashback programs, and valuable rewards. It’s also worth highlighting the convenience of Citi’s mobile app, which allows you to manage your finances online without needing to visit a physical branch.

And, most importantly, Citibank is a name you can trust regarding the solid security of your funds. Therefore, when opening a Citibank checking account, you can be sure of robust fraud protection systems and transparent transaction monitoring from anywhere in the world.

Requirements

How to Open a Citibank Account?

The main requirement for opening an account at Citibank is that you should be at least 18 years old. Plus, there’s a list of required documents to gather. We have created a detailed table with comprehensive information about Citibank’s account opening requirements for both US residents and non-residents.

Type of document	US residents	Non-residents
Identification	Passport or driver’s license	Foreign passport
SSN/ITIN	Social Security Number	Individual Taxpayer Identification Number (ITIN
Address proving	Bank statement or recent utility bill	Proof of address in home country
Supplemental documents	Income verification	Valid US visa

After preparing all the necessary documents, you can proceed with opening an account with Citibank. Here is a step-by-step guide on how to go through this procedure online:

Visit the official Citibank website and find the “Open an Account” section.
You will be presented with several accounts – pick the one that suits you best.
Please proceed to fill out the online application form by entering the required details as specified by the bank. Carefully check that all the information is correct to avoid any errors.
Upload photos of your documents to the website. Specifically, you must upload a government-issued photo ID and a utility bill showing your current address. If you are a USA resident, you should also provide your Social Security details for tax verification.

After this, you will need to wait for the bank to approve your application and activate your account. Once approved, Citibank will send you your account details, which you can use.

If you have a local Citibank branch in your country, you may also open an account personally. Below are the main steps you’ll need to follow:

Open the bank’s branch locator to find the nearest location and plan your visit.
Speak with a bank representative who will assist you in filling out the account opening application.
Submit your documents for verification (the list of documents is the same as for online applications).
Wait for your application to be approved. Once this happens, the bank representatives will contact you, provide your account details, and activate the account.

However, if you don’t want to think about what you need to open a Citibank account, you may delegate this task to Lawtter Solutions. Our experts will assist in gathering the necessary documents, selecting a suitable banking service, and opening the desired account. Our legal team handles this process on your behalf, opening your Citibank account quickly and hassle-free. Contact us for more details.