New Citi Elevate Checking Account Launched
Citibank announced today that it is introducing Citi Elevate Checking, a digital high-yield checking account that offers unlimited ATM reimbursements nationwide while paying interest up to 1% for U.S. customers residing outside of the bank’s physical branch footprint.
“With ATM fees climbing to record levels, we saw an opportunity to provide customers with two very useful benefits – no ATM fees and an interest rate that’s up to 12 times the national average,” said Harp Rana, Head of U.S. Deposit Products, Citibank. “It’s a win-win offering that couples our leading digital capabilities with nationwide convenience and value. It’s the most compelling all-around digital checking account in the market today.”
In addition to full reimbursement for all out-of-network ATMs, Citi Elevate Checking currently pays 1% for accounts with balances of $25,000 and above. The rate is 0.4% for balances between $10,000 and $25,000 and 0.2% for balances below $10,000. That’s definitely far from the best rates that you can earn from a bank, but it is a good rate for a checking account, especially from one of the big banks. The account comes with amonthly fee of $15 that is waived for accounts with average monthly balances of $5,000 and above.
The introduction of Citi Elevate Checking follows the successful launch earlier this year of Citi Accelerate Savings, a fully digital high-yield savings account available to customers in select areas outside of Citi’s physical branch footprint. Available online and through Citi’s market leading mobile app, both accounts provide seamless account opening, value and convenience.
In addition to Citi Elevate Checking and Citi Accelerate Savings, Citi has launched a number of new features to meet the growing needs of its clients, including new lending solutions (Flex Loan and Flex Pay), and relationship-based offers leveraging proprietary ThankYou and Double Cash rewards across both card and retail bank products.
Citi Elevate Checking
- Unlimited waived and reimbursed ATM fees
- Earn a high yield on your checking balances
- Available in select markets only
- Digital delivery of statements and other legal notices is required
- $15 monthly service fee waived with average balance of $5,000 in your checking account
- More info