No. Standalone savings accounts are not eligible.
Debit cards are a convenient way to withdraw cash and make point of sale purchases from a bank account and are common with checking accounts. When you open a Citi checking account, a free debit card will be issued and mailed to you once your account application is approved.
However, savings accounts aren't intended for day-to-day transactions, and standalone savings accounts do not come with debit cards.
Why savings accounts don't offer debit cards
Savings accounts are designed to serve a complementary function to checking accounts.Even if your financial institution offers interest on a checking account, money put into a savings account will usually earn a higher interest rate, meaning they are best used as a place to store and save money for short-term to long-term needs.
For day-to-day banking transactions, checking accounts are a better fit for where you should keep your money. Checking accounts will typically have different minimum balance requirement, than savings accounts, as they are designed to acknowledge that money in the account is regularly coming and going.Many checking accounts will also waive monthly service fees if you have direct deposit or maintain a required average monthly balance in eligible accounts.
Checking accounts will also come with a debit card, which makes withdrawing cash and using your checking account for purchases more convenient.
Can you get a savings account with an ATM card?
A Citibank customer who does not already have another deposit account and opens a Citi savings account will be issued an ATM card which will be mailed once the account application is approved.
However, savings accounts are still not the ideal financial tool for making day-to-day transactions and making too many transfers from a savings account may result in fees if your balance drops below the minimum balance requirements.
Debit cards vs ATM cards
Debit cards allow you to make point-of-sale transactions as well as withdraw cash at an ATM. With an ATM card, only ATM transactions can be performed. Point-of-sale transactions cannot be performed with an ATM card.
