Which US Bank is Better? Citi vs. Bank of America Card Comparison Which is More Cost-Effective?

Which Is More Cost-Effective Opening a Bank Account with Citi Bank or Bank of America in the U.S.?

For many Chinese individuals living, studying, or working in the United States, choosing between Citibank and Bank of America when opening a local bank account is a common dilemma. As economic exchanges between China and the U.S. become increasingly frequent, more and more Chinese residents are opting to open U.S.-based bank accounts to better manage their finances, make purchases, and invest. As two of the largest commercial banks in the U.S., both Citibank and Bank of America offer a wide range of personal financial services, but they differ in terms of account fees, service coverage, mobile banking experience, and more. Drawing from recent news and user feedback, this article will compare the two banks across multiple dimensions to help you make an informed decision.

1. Account Fees Which One Helps You Save More Money?

Account fees are one of the most important factors when choosing a bank. Both Citibank and Bank of America offer checking accounts with no monthly fees, but the conditions to waive the fee differ slightly.

Citibank’s Citi Checking Account offers a no-monthly-fee option if you meet any of the following conditions automatic deposits of at least $500 per month, maintain a balance of $1,500 or more, or enroll in a Citi account package such as a savings account or credit card. For newcomers or those with limited funds, this can be a relatively high threshold.

Bank of America’s Everyday Checking Account also waives the monthly fee if you meet either of these conditions automatic deposits of at least $250 per month or maintain a balance of $1,500 or more. Compared to Citibank, Bank of America’s requirements are slightly lower, making it more accessible for individuals with limited income or recent arrivals to the U.S.

Both banks charge fees for using out-of-network ATMs, but the structure varies. Citibank charges $2.50 per transaction for non-network ATM withdrawals, while Bank of America also charges $2.50 per transaction but offers some accounts the option to receive monthly ATM fee reimbursements. If you frequently use ATMs outside the bank’s network, Bank of America may offer better value.

2. Branch and ATM Network Which Offers Greater Convenience?

According to the 2025 U.S. Bank Branch Distribution Report, Bank of America operates approximately 4,100 branches and over 16,000 ATMs, covering 34 states, with dense coverage along the East Coast and Midwest. Citibank has around 700 branches and about 6,800 ATMs, primarily concentrated in major cities on the East Coast, West Coast, and Midwest, such as New York, Los Angeles, and Chicago.

If you live in a major city, both banks provide sufficient coverage. However, if you reside in a smaller city or rural area, Bank of America likely offers more convenience due to its larger number of branches and ATMs. For example, according to a recent CNBC report, Bank of America has expanded more rapidly in states like Texas and Florida, outpacing Citibank in terms of new branch additions.

3. Mobile Banking and Digital Services Which Is More User-Friendly?

In the digital age, mobile banking experience has become a key factor in choosing a bank. According to the 2025 J.D. Power Digital Banking Satisfaction Survey, Bank of America ranks highly in customer satisfaction. Its mobile app is praised for its comprehensive features, user-friendly interface, and support for bill payments, check deposits, account transfers, and credit score tracking. It also integrates voice assistant and AI customer service.

Citibank’s mobile app has also seen continuous improvements, particularly in international transfers and multilingual support. For example, Citibank offers a Chinese interface, which is a significant advantage for non-native English speakers. Citibank’s global network is broader, making it more suitable for users with cross-border financial needs.

4. Credit Cards and Loan Products Which Offers More Benefits?

Both banks offer a variety of credit card products, including travel cards, cashback cards, and student cards. Take Citi Double Cash Card and Bank of America Cash Rewards Credit Card as examples both offer competitive cashback rates, but their promotional offers and annual fee policies vary.

Citibank is known for generous sign-up bonuses, making it ideal for frequent travelers or high spenders. Bank of America focuses more on long-term customer relationships, offering a stable rewards system and exclusive promotions for existing account holders.

In terms of loans, Bank of America offers a wider range of mortgage and auto loan products, with transparent interest rates and approval processes-ideal for long-term residents planning to buy a home. Citibank, on the other hand, excels in commercial lending and international financial services.

5. Customer Service and User Reviews Which Is More Customer-Centric?

According to the latest Consumer Reports survey on bank services, Bank of America scores slightly higher in customer service. Many users praise its fast response times and efficient problem resolution, especially in handling account irregularities and fraud alerts.

Although Citibank’s service response may be slower in some regions, its global customer service system is well-developed, making it a better choice for users with international financial needs. For example, Citibank has branches in many countries, providing more convenient cross-border financial management support.

6. Final Recommendation Choose Based on Your Needs

Choose Bank of America if you prioritize local convenience and customer service. With a broad branch network and high customer satisfaction ratings, it suits individuals with stable income and long-term plans in the U.S.

Choose Citibank if you have cross-border financial needs or prefer international banking services. Its strong global network and multilingual support make it ideal for users with international transactions or investments.

Both banks offer special products such as student accounts and accounts for new immigrants. If you are an international student or new to the U.S., you can inquire about special account options tailored to your status.

Conclusion

Both Citibank and Bank of America are financially strong and offer robust personal banking services. The choice ultimately depends on your specific needs and lifestyle. We hope this comparison helps you make a more informed decision before opening an account in the U.S.