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Citibank

Article Submitted by: BankMan
Savings - Checking - CDs


Citibank is the consumer banking brand of Citigroup, the largest financial services company in the world by assets. The company recently agreed to the purchase of Wachovia, creating a behemoth with over $1.3 trillion in deposits.

 

Submitted: Oct 1, 2008    Views: 1849    Comments: 1    Likes: 1   


CitibankBauer Rating: alt

Citibank is the consumer banking brand of Citigroup, the largest financial services company in the world by assets.  The company recently agreed to the purchase of Wachovia, creating a behemoth with over $1.3 trillion in deposits.

While the company has written down billions due to the subprime and mortgage crisis, the bank was in a strong enough financial position to purchase Wachvia and assume its debt.  As the stock shows, the share price has suffered severaly but has rebounded a bit lately.  Citi may turn out to emerge fro this is a winner but investors are advised to be cautious and keep their deposits below the FDIC limit.

CitigroupStockPerformance

Citibank offers several online products that are at times competitive with some of the high savings rates and cd rates listed on BestCashCow.  These include the Ultimate Savings Account and Ultimate Money Market Account.

According to the Citibank phone rep, the Ultimate Savings Account can be opened as a stand-alone account with no fees.  The Ultimate Money Market needs to be opened with a checking.  In order to get the highest rate with the money market, you must complete two bill payments per month from the linked checking account.

 


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Comments Received:

jojibro
(Unregistered)

I have been reluctantly doing business with CitiBank off & on for 15 years.
After recently applying for the "Ultimate Savings" $25 promo, I can say that Citi is the "Ultimate Failure" when it comes to treating customers professionally.
Not only is their customer service still the worst in the business, but the careless way they handle applications and accounts is certainly negligent, if not down right criminal.
I have wasted so many hours on the phone with Citi's off-shore customer service that they should re-name it "customer aggravation"!
Citi rivals Microsoft in it's supreme arrogance and incompetence.
It is no wonder they are failing on a monumental scale.
Frankly, I have given up on them, and would recommend you all do the same.
Buyer beware Citi...

Posted: Jan 17, 2009



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