As some of my readers know, I’m a big fan of my Citibank account.  I like the following features:

  1. Free Bill Bay
  2. Worldwide ATM Branches
  3. Line of Credit Overdraft protection
  4. Competitive Interest Rate on Savings

On that last part, Citibank has gone a little crazy with different offerings.  They now offer to the best of my awareness 5 different savings/money market accounts:

  1. day-to-day-savings: .7%
  2. insured money market: N/A
  3. e-Savings: 4.5%
  4. Ultimate Savings Account: 4.65%
  5. Ultimate Money Market Account: 5.0%*

*The Ultimate Money Market Account requires that you make two bill pays a month or the rate drops to lower 4.5% rate.

I started off with the basic EZ Checking account with the day to day savings.  Later I added the insured money market account.  After that I added the e-savings which at the time was yielding a 5% introductory rate.  I just added the Ultimate Savings account today and will probably add the Ulimate Money Market account later.  I would gripe more about all different accounts if Citibank didn’t make it so easy for existing customers to sign up.  Pretty much -  you login, and click through a couple screens and the new account shows up.  Doesn’t get much easier than that.  If you’re not currenty a citibank deposit account holder, you’re also eligble for $50 sign up promotion on the Ultimate Money Market, and $100 on the Ultimate Savings.  Bankdeals.com is also posting that Citibank is offering $200 promotion for signing up for the EZ Checking account.  There’s only a promotion code for that, so read through Bankdeals’ post on the matter if you’re interested in signing up.  Again I think if you’re looking for a primary bank account, Citibank offers a good product.

I for for one think Citibank should take a page out of the Steve Jobs’ book, and simplify.  Even though I have zero balances in most of the saving flavors, I don’t like looking at them on my account screen.