How do I avoid Citibank monthly service fee?

Eliminating Citibank Monthly Service Fees

Maintaining a checking account with financial institutions often comes with associated fees. Citibank accounts are no exception, but there are effective ways to avoid the monthly service charge.

Enhanced Direct Deposits

The most straightforward method is to consistently receive enhanced direct deposits into your Citibank checking account. These deposits must total at least $250 per month. When this requirement is met, the monthly maintenance fee is waived.

Tiered Accounts

Individuals who qualify for Citi Priority, Citigold, or Citigold Private Client accounts are automatically exempt from the monthly service fee. These tiered accounts provide access to additional benefits and exclusive perks.

Qualifying for Tiered Accounts

To qualify for Citi Priority, you must meet one of the following criteria:

• Maintain a combined average balance of $15,000 across eligible accounts
• Receive monthly direct deposits totaling at least $2,500

For Citigold qualification, you must fulfill one of these requirements:

• Maintain a combined average balance of $100,000 across eligible accounts
• Receive monthly direct deposits totaling at least $10,000

Citigold Private Client is the highest tier account and requires an invitation from Citibank. It offers personalized wealth management and exclusive benefits.

Choosing the Right Option

The best solution for avoiding Citibank monthly fees depends on your financial situation. If you frequently receive large direct deposits, maintaining a minimum balance may be suitable. If you are eligible for a tiered account, the additional benefits and fee waiver may justify the higher balance requirements.

Additional Tips

• Negotiate with your bank: In some cases, you may be able to negotiate a fee waiver with a Citibank representative.
• Use online or mobile banking: Citibank waives monthly fees for customers who primarily interact with their accounts online or through the mobile app.
• Maintain a minimum balance: Some accounts require a minimum average balance to waive the monthly fee. Check with your bank to determine if this option is available for your account.

By following these strategies, you can effectively eliminate Citibank monthly service fees and enjoy the convenience of managing your finances without unnecessary expenses.