Citigroup (Citi): Overview and Account Opening Guide

Citigroup Inc., widely known as Citi, is one of the world’s largest diversified financial institutions and the third-largest bank in the United States by assets. Headquartered in New York City, Citi operates in more than 95 countries and serves over 200 million customer accounts worldwide.

As of 2025, Citigroup remains a key global player in investment banking, corporate lending, consumer banking, and private wealth management. Its global presence makes it especially attractive for expatriates, multinational companies, and high-net-worth individuals (HNWIs) looking for cross-border banking solutions.

Bank Profile

• Founded: 1812 (as City Bank of New York)
• Headquarters: New York, United States
• Market Cap (2025): ~USD 340 billion
• Global Presence: 95+ countries, including Singapore, Hong Kong, London, and Dubai
• Key Services: Consumer banking and credit cards Corporate and institutional banking Investment banking and markets Private banking and wealth management Treasury and trade services

Why Choose Citi?

• Strong international presence, ideal for global citizens and multinationals
• Leader in credit card services and digital banking innovation
• Trusted partner for trade finance and corporate treasury solutions
• Comprehensive wealth management services for HNWIs
• Strong brand recognition in both developed and emerging markets

Account Types Available

1. Personal Banking Checking and savings accounts Credit cards with global benefits Multi-currency accounts for international clients
2. Business Accounts SME banking services Corporate accounts for multinationals Treasury management and global cash flow solutions
3. Private Banking (Citi Private Bank) Threshold: typically USD 10 million+ in investable assets Tailored services including investment management, succession planning, and global family office support

Account Opening Requirements

For Individuals (U.S. Residents):

• Government-issued ID (passport or driver’s license)
• Social Security Number (SSN)
• Proof of U.S. address (utility bill, lease agreement, or bank statement)

For Non-Residents / Foreign Clients:

• Valid passport
• Proof of overseas address (utility bill or bank statement)
• U.S. ITIN (Individual Taxpayer Identification Number), if applying in the U.S.
• Additional compliance checks under FATCA/CRS rules

For Corporate Accounts:

• Certificate of Incorporation
• Articles of Association / Company bylaws
• Employer Identification Number (EIN) or local tax ID
• Proof of registered office address
• Identification of directors, shareholders, and ultimate beneficial owners

Step-by-Step Account Opening Process

1. Initial Contact Schedule an appointment at a Citi branch (New York, Singapore, Hong Kong, or London). Private banking clients are usually onboarded via dedicated relationship managers.
2. Document Submission Submit ID, address proof, and financial documents. For corporate accounts, submit business licenses and tax documents.
3. Compliance and Verification Citi conducts thorough KYC and AML checks. Cross-border applicants undergo stricter reviews.
4. Approval Timeline Personal accounts: 5–10 business days Business accounts: 1–3 weeks Private banking: 3–5 weeks, depending on jurisdiction
5. Account Activation Clients receive account credentials, cards, and access to Citi online/mobile banking.

Advantages & Considerations

Advantages

• One of the most international banks in the world
• Strong product offering for global expats and multinationals
• Comprehensive wealth management via Citi Private Bank
• Leading credit card network with global benefits

Considerations

• Private banking entry thresholds are high (USD 10M+)
• Non-residents may face strict onboarding requirements
• Fees may be higher compared to regional competitors

Frequently Asked Questions (FAQ)

Q1: Can foreigners open a Citi account in Singapore?
A1: Yes, Citi Singapore provides both personal and corporate banking services to foreign clients, subject to document and compliance checks.

Q2: What is the minimum deposit for a Citi retail account?
A2: For standard accounts, deposits may start around USD 100–500, depending on the country. Premium and wealth accounts require higher thresholds.

Q3: Does Citi still have strong presence in investment banking?
A3: Yes. Citi remains one of the top U.S. and global investment banks, with strengths in markets, securities, and corporate advisory.

Internal Link

• Link from Global Top 20 Banks by Market Cap 2025 → “Citigroup (Citi)” anchor text
• Related banks: [JPMorgan Chase Guide], [Bank of America Account Opening], [HSBC Overview]

Citigroup, Citi, account opening, U.S. banks, private banking, corporate banking, global banking

About the Author

Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source. Read more articles