Citi Access Checking

What it is

Citi's checkless checking account costs $5 a month, waived with an Enhanced Direct Deposit of $250 or more or a Citi relationship tier, and there's no minimum deposit to open. Transactions over the available balance are declined, and Citi's overdraft lines can't be attached. Citi's agreement says it may pull a consumer report when you apply, and Citi doesn't position the account for people with past banking problems.^1,2

Does Citi use ChexSystems?

Citi's account terms say it may pull consumer reports when you apply. Those can include banking-history reports like ChexSystems. Citi's Consumer Deposit Account Agreement says you authorize Citi to obtain a consumer report when you apply for, update or renew an account, and that it may obtain reports at any time once you're a customer. It may also report negative account activity to a consumer reporting agency, which could keep you from opening accounts elsewhere. The readable text doesn't name ChexSystems.¹

Fees and overdraft

Monthly fee

$5 a month. Waived in any month with an Enhanced Direct Deposit of $250 or more (payroll, pension, government benefits and similar ACH deposits; not teller, cash, check or wire deposits), or with Citi Priority, Citigold or Citigold Private Client relationship tier status.^1,2

Minimum to open

$0

Overdraft

Access Checking is built to decline PIN, point-of-sale, ACH and debit card transactions that exceed the available balance. Neither Safety Check nor a Checking Plus line of credit can be linked for overdraft protection (except a link that carried over when a Regular Checking account was converted).

ATMs

Citi charges a $2.50 fee at non-Citi ATMs, and says this fee can't be waived.

Who can open it

Citi says Access Checking is offered in all Citibank markets. You can apply in a branch, on Citi Online, in the Citi Mobile app or by phone. For online or phone openings, the agreement uses South Dakota law when the applicant's address is outside its listed states, which suggests out-of-footprint applicants can open, but Citi doesn't state outright that the account is available nationwide.

Deposit insurance: Citibank, N.A., Member FDIC

If you've been denied before

• If a bank or credit union turns you down because of a checking account report, it must send you an "adverse action" notice with the name and contact information of the reporting company it used.^3,4
• By law, you can get a free copy of your checking account report once every 12 months, and you are also entitled to a free copy if a bank turns you down because of it.^5,6
• If your checking account report has an error, you have the right to dispute it with the reporting company and with the bank or credit union that supplied the information. Under the FCRA, companies must investigate disputes free of charge.^5,6,7
• The Office of the Comptroller of the Currency (OCC) says negative information generally stays on ChexSystems and Early Warning Services reports for five years.⁸

ChexSystems, explained