Introduction
As you enter your golden years, managing finances shouldn’t mean paying extra for basic banking services. Citibank recognizes the importance of supporting senior customers by offering fee waivers on select account types—helping retirees maximize savings and minimize unnecessary charges. This article explains Citibank senior account fee waiver eligibility, the accounts covered, the criteria you must meet, and how to ensure you receive your waivers every month.
1. Which Accounts Offer Senior Fee Waivers?
Citibank extends special fee-waiver benefits primarily on its core checking and savings products:
- Citi® Basic Banking Checking
- Citi® Savings Account
- Citi® Money Market Account
Depending on your relationship tier, additional premium accounts (e.g., Citi Priority®, Citigold®) also feature waived fees—but for seniors, the focus is on removing the standard monthly maintenance charge from base-level accounts.
2. Standard Monthly Fees (Before Waiver)
| Account Type | Standard Monthly Fee |
|---|---|
| Citi® Basic Banking Checking | $12 |
| Citi® Savings Account | $5 |
| Citi® Money Market Account | $12 |
These fees can add up over a year—$144 for checking and $60 for savings—making eligibility for waiver a valuable perk.
3. Eligibility Criteria for Senior Fee Waiver
To qualify as a “senior” and have these monthly fees automatically waived, you must:
- Age Requirement
- Be 62 years of age or older by the last day of the statement cycle.
- Account Ownership
- Be the primary account owner or a joint owner on the eligible account.
- Account Standing
- Maintain the account in good standing (no negative balances, holds, or past-due fees).
- Waiver Activation
- For new senior customers, ensure Citibank has your date of birth on file—update your profile online or in-branch if needed.
4. How the Waiver Works
- Automatic Application: Once Citibank verifies your age and account ownership, the system applies the waiver to your monthly statement—no action is required on your part.
- Waiver Priority: If you meet both age-based and relationship-based waiver criteria (e.g., you’re also a Citigold® client), the system applies the highest-level waiver so you never pay the fee.
- Statement Visibility: On each monthly statement, you’ll see the standard fee and a corresponding “Senior Waiver” credit line—confirming the fee has been removed.
5. How to Ensure Your Waiver Is Active
- Verify Your Birthdate in Profile
- Online: Log in to Citibank Online → Profile & Settings → Personal Information.
- Mobile App: Tap Menu → Settings → Personal Information.
- Confirm Account Ownership
- If you’re a joint owner, make sure you’re listed as co-owner with equal privileges.
- Check Your Statement
- Look for the “Senior Waiver” line each month. If you don’t see it, contact CitiPhone® or visit a branch to resolve.
- Maintain Good Standing
- Avoid overdrafts or account holds that could suspend fee-waiver benefits until resolved.
6. Frequently Asked Questions
Q: Do I need to enroll or apply for the waiver?
No formal application—once you turn 62 and your DOB is on file, waivers are applied automatically.
Q: Can I qualify if I turn 62 mid-cycle?
Yes. Citibank prorates eligibility based on your birthday in relation to the statement close date; you’ll see the waiver beginning the next full cycle.
Q: What if I have multiple accounts?
Each eligible account where you qualify as a senior account owner will receive its own waiver credit.
Q: Will waivers affect my interest or other benefits?
No. Fee waivers do not reduce interest rates or other product features.
7. Conclusion & Next Steps
Citibank’s senior account fee waiver makes everyday banking more affordable for customers aged 62 and above. By simply verifying your date of birth and ensuring you’re listed correctly on your checking or savings account, you can eliminate monthly maintenance charges and keep more of your hard-earned money.
Ready to confirm your waiver?
- Log in to Citibank Online or the Citi Mobile® App and check your personal profile.
- Ensure each account lists you as an owner and that your date of birth is accurate.
- Review your next statement for the “Senior Waiver” credit.
If you have any questions, call CitiPhone® or visit your local Citibank branch today. Enjoy banking without fees—and more freedom to focus on what matters.