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- Comparing American Express and Citibank Savings Accounts in 2025
- Savings Account Interest Rates
- Checking Accounts and Fees
- Money Market Account Options
- Fund Transfer Speed and Convenience
- Customer Service and Support Experience
- Best for High-Balance Savers
- Best for Everyday Banking Needs
- Best Choice for Students and Young Adults
- Final Thoughts
- Frequently Asked Questions
- Recommended Reads
Comparing American Express and Citibank Savings Accounts in 2025
Choosing where to keep your savings is a meaningful decision, especially as interest rates and banking services continue to shift. In 2025, both American Express and Citibank offer competitive savings options, each with distinct benefits. American Express is known for its high-yield savings with no fees, while Citibank provides a broader set of financial products and a large ATM network. This will explore how these two banks compare so you can decide which one aligns better with your financial goals.
| Category | Bank of America | American Express |
|---|---|---|
| Banking Services | Offers a variety of checking accounts (Advantage Banking, Student Banking, and Business Checking), savings accounts (Advantage Savings), and retirement accounts (IRAs). | Provides personal and business checking accounts, as well as high-yield savings accounts (HYSAs) and Certificates of Deposit (CDs). |
| Credit Cards | Provides a range of credit cards, including cash back, travel rewards, and cards designed to help build credit. | Offers a wide selection of personal, business, and corporate credit cards with options for travel, cash back, and no annual fees. Also offers gift cards. |
| Loans | Offers home loans (mortgage, refinance, home equity) and auto loans (purchase, prequalification, refinance). | Provides personal loans and business lines of credit. |
| Investment Services | Provides investment services through Merrill, including Merrill Edge® Self-Directed Investing, Merrill Guided Investing, and Merrill Lynch® Wealth Management. | Does not offer a comparable investment service. |
| Other Services | Offers educational resources through the Better Money Habits® program and a mobile banking app with features like customizable alerts and mobile check deposit. | Provides travel-related services (booking trips, hotels, and cruises), airport lounge access, travel insurance, the Membership Rewards® program, FICO® Score and Insights, and various tools and support like CreditSecure® and Amex Offers. Also supports merchants who want to accept Amex cards. |
Savings Account Interest Rates
Interest rates are a core factor when selecting a savings account. In 2025, both American Express and Citibank offer a 3.70% APY on high-yield savings accounts, well above the national average. This rate allows your money to grow faster over time.
| Bank | APY (2025) | Minimum Deposit | Monthly Fees | Additional Notes |
|---|---|---|---|---|
| American Express | 3.70% | $0 | $0 | Online-only; no checking required |
| Citibank | 3.70% | $0 | $4.50/$10 (waivable) | Linked checking required to waive fee; large ATM network |
American Express stands out for its no-fee structure, making it simple for users who want to avoid extra steps or conditions. Citibank offers similar returns but may require additional effort to avoid fees.
Checking Accounts and Fees
Citibank provides a range of checking accounts, including Access, Regular, Priority, and Citigold. Each comes with online banking, mobile access, and a broad ATM network. The standard monthly fee is $12, but it can be waived with qualifying deposits or balances.
American Express recently launched its Rewards Checking account, available only to users who’ve had a personal Amex credit card for at least three months. This account has no monthly fees and earns 1.00% APY, much higher than Citi’s typical 0.01% on checking.
If you’re already an Amex cardholder, their checking option adds extra value with higher yields and no fees. For wider ATM access and more account choices, Citi may offer more flexibility.
Money Market Account Options
Money market accounts combine savings features with limited checking access. Citibank includes money market options within its savings account lineup, offering check-writing and quick access. However, they often require higher minimum balances to avoid fees.
American Express does not offer money market accounts, focusing instead on high-yield savings and CDs. This may limit flexibility for users who prefer savings accounts with added access.
For those specifically looking for money market features, Citibank provides more choice, though you’ll need to meet balance requirements to avoid fees.
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Fund Transfer Speed and Convenience
Both banks support fast and flexible fund transfers. American Express allows unlimited fee-free transfers between linked accounts, typically completing within 1–3 business days. Its digital-only platform allows access from any device, anytime.
Citibank also enables internal and external transfers, usually with similar timing. Its wide ATM network and additional account integrations make it useful for managing multiple financial needs in one place.
If ATM access or integrated banking tools are important, Citibank may offer more practical value.
Customer Service and Support Experience
Customer support quality can impact your overall banking experience. American Express receives consistently high praise for knowledgeable representatives and responsive service, especially for savings account users.
Citibank offers multiple contact options, including product-specific phone numbers, in-app messaging, and a dedicated support page. However, some users report confusion navigating their support system.
While both banks offer strong support, American Express appears to deliver a more streamlined and personal experience for its savings customers.
Best for High-Balance Savers
For savers with larger balances, earning a strong APY without complications is vital. American Express delivers a consistent high yield regardless of balance, with no minimum required, making it ideal for hands-off savers who prefer simplicity.
Citibank’s rate tiers, like those in Citi Platinum Savings, offer higher returns for larger balances. However, users must meet account minimums to access those rates and avoid fees.
If you want a flat, high APY with minimal requirements, American Express is the more straightforward choice. Citibank may suit those who maintain higher balances and want tiered earning potential.
Best for Everyday Banking Needs
Citibank offers practical tools for day-to-day banking. With several checking options, thousands of ATMs, and bill pay tools, it’s built for convenience. Users can avoid monthly fees by meeting deposit or balance criteria.
American Express offers online checking with higher interest and no fees, but ATM access is not supported. This can limit its usefulness for routine withdrawals and in-person transactions.
For managing daily expenses and accessing cash regularly, Citibank provides more flexibility and real-world convenience.
Best Choice for Students and Young Adults
Students and young adults often prioritize no-fee banking and digital tools. Here’s how each bank fits those needs:
American Express:
- No minimum deposit and no monthly fees
- High-yield savings account with easy-to-use online access
Citibank:
- Student-friendly checking and savings accounts with low or waivable fees
- Easy ATM access and in-person support
Both banks support online money management, but American Express shines for simplicity and fee-free saving. Citibank is a strong choice for students who want both checking and savings access with the option to visit a branch.
Final Thoughts
Deciding between American Express and Citibank in 2025 depends on your financial habits and what you want most in a bank. American Express offers high-yield savings with no fees and simple access, making it ideal for focused savers. Citibank provides a more traditional banking experience, complete with checking, savings, ATMs, and in-person support. Both banks offer value in different ways. Take time to review your needs, especially around fees, product types, and account access, so you can choose the one that works best for your goals.
Frequently Asked Questions
Which bank offers a better APY in 2025?
Both American Express and Citibank offer a 3.70% APY on high-yield savings accounts in 2025. However, American Express offers this rate without any balance requirements or monthly fees.
Does American Express have checking accounts?
Yes, American Express offers a Rewards Checking account, but it is only available to existing Amex cardholders who have had a card for at least three months.
Are Citibank checking accounts free?
Citibank checking accounts come with monthly fees, but these can be waived by meeting direct deposit or minimum balance requirements.
Can I get ATM access with American Express?
American Express does not currently offer ATM access for its checking or savings accounts, making it less ideal for frequent cash withdrawals.
Which bank is better for students?
American Express is great for students focused on saving due to no fees and easy digital access. Citibank is better for those needing full-service banking with branch and ATM availability.
Reviewed and edited by Albert Fang.
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Article Title: American Express vs CitiBank: Where to Keep Your Money in 2025?
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