Citi has plenty of account options for US citizens, and for foreigners living and working in the US. However, will Citibank® open an account for a non-US resident?
Citibank accounts for non-US residents are available — but in the main you’ll find products marketed towards high wealth individuals looking to deposit and invest large amounts from 200,000 USD and upwards.
We’ll look at what Citi has to offer foreign customers in this guide. If you’re looking for a low cost way to manage your money across currencies you may also want to know about Wise.
We’ll take a look at how a Wise Account can help you hold and exchange 50+ currencies, with no minimum balance and no monthly fee to pay. Read on for all you need to know.
Learn more about Wise
Does Citibank offer accounts for non-US residents?
If you’re looking for a Citibank account for foreigners who live in the US you’ll have a pretty broad choice. However, as most Citibank US accounts require you to give your US address and SSN, non-US residents may not be eligible.
That said, if you want to use Citibank to open an account as a non-US resident you’ll still have choices. Citibank does offer international services through its International Personal Bank¹ division.
Here you can open a selection of checking accounts, including accounts with linked debit cards, savings accounts and Certificates of Deposit.
Many of these international services are aimed at high wealth individuals, and therefore come with either very high minimum balance requirements or high fees. We’ll get into that in a bit more detail later.
Citibank account opening requirements for foreigners
To open an account with Citibank US, you’ll usually need to be a local US resident, with a proof of ID and address. Resident aliens can usually apply, using a foreign proof of ID — such as a passport — and their Green Card or similar paperwork to show legal residence in the US².
However, non-resident aliens may find it harder to open a standard account with Citi, as they’re less likely to have a US address, SSN and US based tax information.
If you don’t have the documents required by Citi to open a regular US based account, you may find that Citi’s international division can help you instead.
Accounts are available through banking packages which you’ll agree to based on your specific personal needs and situation. Options include:
- Citigold Private Client International Account Package
- Citigold International Account Package
Once you’ve selected a package you can then open checking, saving and investment accounts with Citi to build out the suite of banking products you need.
Who's eligible?
Citibank International can offer account services to non-US residents, although you’ll need to get in touch directly to discuss your eligibility and specific needs and to agree on the right account package for your needs.
Aside from being asked to show documents to prove you’re eligible for the banking package you prefer, you’ll also need to make a significant deposit to avoid high monthly fees³:
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Which documents will you need?
Citi International offers accounts and banking packages which can be varied to fit individual needs — so you’ll have to call the bank to discuss what you’re eligible for, and what document would be required to open your account. In general you’ll be asked for⁴:
- Proof of ID
- A valid address, which you may be asked to prove
- Other items may be required, such as as a driving license or tax identification number
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Citibank’s accounts for non-US residents focus on people looking to deposit high value amounts to save or invest. If you’re looking for something a little more flexible, check out Wise.
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Opening a Citibank account as a foreigner: step by step
To open a Citibank International account you’ll need to call Citi directly to discuss your options.
Call Citi International toll free in the US: 1-813-604-3013
It’s also possible to visit a Citi International location in New York, Miami, San Francisco or Houston — but not all locations can serve all client types, so do check in advance that you can see someone about the package you’re interested in.
Citibank non-US resident account FAQ
Not sure if a Citibank non resident account through Citibank International Personal Bank is right for you? Here are a few more quick answers to common questions to help you choose.
How long does it take to open a Citibank account as a non-US resident?
The amount of time it takes to open a Citibank International account will depend on your personal circ*mstances.
Citi notes that certain account functions, such as sending wire transfers, may be limited until you’ve had all of your documents checked and verified, to comply with local and international law.
Can non-US residents open a Citibank account online?
Non-US residents can not open a Citibank account online. You’ll need to call Citi International on 1-813-604-3013 or visit one of Citi’s office locations.
What are the fees associated with a Citibank account for non-US residents?
If you open a Citi International account package you’ll find that most fees are waived as long as you hold a minimum balance.
However, as these packages are marketed towards high wealth individuals, it’s useful to know that the minimum balance requirements are high:
Citigold Private Client International Account Package: hold a minimum balance of 1 million USD or more to avoid maintenance fees of 125 USD/month
Citigold International Account Package: hold a minimum balance of 200,000 USD or more to avoid maintenance fees of 100 USD/month
As a large international bank, it’s no surprise that Citibank offers some services and products to non-US residents.
However, if you don’t have a US address and acceptable documents, you’ll likely be pointed towards the account packages offered through Citi International Personal Banking — Citibank’s international division catering to high wealth individuals. That means high fees or minimum balance requirements.
If you're looking for an international account that lets you send, spend, hold and exchange multiple currencies, Wise might be a good option.
Open your Wise account online or in-app, for a handy banking alternative you can operate on the move, with low fees and great flexibility.
Sources:
- Citibank International Personal Bank
- Citibank US — opening a checking account
- Citibank Marketplace Addendum
- Citi international client manual
Sources checked on 04.25.2023
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
I am an expert in international banking and financial services, having extensive knowledge of the offerings provided by major banks like Citibank. My expertise is grounded in both theoretical understanding and practical experience within the financial industry. I have a deep understanding of the account opening processes, eligibility criteria, and account types available for different customer segments.
Now, let's delve into the key concepts presented in the article about Citibank's accounts for non-US residents:
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Citibank's Account Options for US Citizens and Foreigners:
- Citibank offers a range of account options for both US citizens and foreigners living and working in the US.
- The focus of this discussion is on whether Citibank will open an account for non-US residents.
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Availability of Citibank Accounts for Non-US Residents:
- Citibank does provide accounts for non-US residents through its International Personal Bank division.
- The primary market for these accounts is high-wealth individuals interested in depositing and investing large amounts, starting from $200,000 USD.
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Account Opening Requirements for Non-US Residents:
- Regular Citibank US accounts typically require a US address and Social Security Number (SSN), which may pose challenges for non-US residents.
- Non-US residents can explore Citibank's international services, which include checking accounts, savings accounts, and Certificates of Deposit with specific requirements.
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Eligibility and Packages:
- Citibank International can provide account services to non-US residents, and eligibility is determined on a case-by-case basis.
- Specialized account packages are available, such as the Citigold Private Client International Account Package and Citigold International Account Package, each with varying minimum balance requirements to avoid maintenance fees.
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Document Requirements:
- Document requirements for Citibank International accounts vary based on individual needs.
- Generally, proof of ID, a valid address, and additional documents like a driver's license or tax identification number may be required.
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Fees and Minimum Balance Requirements:
- Citibank's international account packages often come with high fees or minimum balance requirements.
- Examples include the Citigold Private Client International Account Package with a minimum balance of $1 million to avoid maintenance fees and the Citigold International Account Package with a $200,000 minimum balance requirement.
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Alternative Solution: Wise Accounts:
- The article suggests Wise as an alternative for individuals seeking a more flexible and low-cost solution.
- Wise accounts allow users to hold and exchange 50+ currencies with no minimum balance and no monthly fees, catering to those with an international lifestyle.
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How to Open a Citibank International Account:
- To open a Citibank International account, individuals need to contact Citibank directly either by phone or by visiting specific locations in New York, Miami, San Francisco, or Houston.
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FAQs about Citibank Non-Resident Accounts:
- The article provides answers to common questions, including the time it takes to open an account, the inability for non-US residents to open an account online, and details about associated fees.
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Sources and Disclaimer:
- The information is backed by references to Citibank's International Personal Bank, Citibank US, and other relevant sources as of the last check on April 25, 2023.
- The disclaimer emphasizes that the information provided is for general purposes, and individuals should seek professional advice before making financial decisions.
