Citi vs. Wells Fargo: Which bank is a good match for you?

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If you prefer a traditional banking experience, Citi and Wells Fargo are two national brick-and-mortar banks you might be considering.

We’ve compared each bank’s savings account, checking accounts, and CDs so you may see if a particular institution might be better suited for your needs. We’re also looking at how each bank’s recent history so you can gauge their trustworthiness.

Pros and cons of Citi

Pros and cons of Wells Fargo 

Citi vs. Wells Fargo checking account comparisons

Below, we’ve compared each bank’s low-fee checking accounts.

Citi vs. Wells Fargo savings account comparisons

Citi and Wells Fargo both have two types of savings accounts. We’ve compared the Citi® Accelerate Savings to the Wells Fargo Way2Save® Savings Account since these accounts are available in most states and have similar monthly service fees.

Citi vs. Wells Fargo CD comparisons 

Citi vs. Wells Fargo trustworthiness and BBB score

We use ratings from the Better Business Bureau so you may see how a business addresses customer issues.

Wells Fargo received an F rating because it has responded to customer complaints and because there was government action taken against the bank. Citi has an F rating because it’s received a high volume of customer complaints and had government action taken against the business.

A bad BBB rating isn’t necessarily the be-all and end-all. Talk to current customers or read online customer reviews to get a better understanding of whether a particular institution might be right for you.

Both Wells Fargo and Citi have been involved in recent public controversies.

Citi has been in the following public settlements:

• In 2019, Citi accidentally sent $900 million to customers. 
• In 2020, the bank was required to pay $400 million in a settlement with the Comptroller of the Currency. The OCC said the bank had inefficient banking practices.

Wells Fargo has been involved in the following cases:

• In 2021, the Office of the Comptroller of Currency issued a cease and desist order against Wells Fargo that claimed the bank of having an inefficient compliance risk management program.
• In 2020, Wells Fargo paid billions in settlements for its employees creating authorized bank accounts to meet unrealistic sales goals.
• In 2019, the city of Philadelphia required Wells Fargo to pay $10 million in a settlement that accused the bank engaged in predatory mortgage lending to racial minorities.
• In 2019, the California Department of Insurance also required the bank to pay $10 million in a settlement that said the bank signed up and charged 1,500 consumers on insurance products without their knowledge.

Frequently asked questions

Which is better, Citi or Wells Fargo?

Choosing between Citi and Wells Fargo may depend on the accounts you’d like to open and what you prioritize most in your banking experience. 

You prefer Citi if you’re looking for ways to earn more interest on your money. For example, Citi® Accelerate Savings and select Citi CDs pay a higher interest rate than the average savings account or CD. Bear in mind that the Citi® Accelerate Savings is mainly available as an online-only option, though.

If you prioritize a large branch network, you may prefer Wells Fargo. Wells Fargo has the most branches in the US, and is available in more states than Citi. 

Which is bigger, Citi or Wells Fargo?

Wells Fargo has a bigger branch network in the US. Wells Fargo has 7,200 locations, while Citi only has 690 branches.