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Personal Finance (Not Investing) • CitiBank "Simplified Banking" ... not too simplified!

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Been using Citibank as one of our households local bricks&mortar bank however Citi is on the cusp of changing everything over to their "Simplified Banking" which to me is far from simplified. Multiple reads of their Simplified Banking collaterals completed and all I can glean out of it is there will be no more monthly interest on Citi checking accounts, you must maintain $30k in a mix of savings and checking to avoid monthly fees, and all this just to get a somewhat better CD rate than JPMorgan/Chase. Anyone glean anything out of Citi's cryptic mumbo jumbo?
My take away from this post is: Stay with no fee interest free checking which requires no minimum balance. For high interest, put money in banks or brokerage houses which offer high interest without any preconditions or gotchas.

I use citibank for credit card only - double cash.
You are hearby banned from Citifield.
Of course that is another bonus for you.

Statistics: Posted by beyou — Sat Mar 23, 2024 9:10 pm — Replies 26 — Views 1897



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