Citibank - safe?

Holliek8

Hi there everyone

I have just opened a savings account with Citibank but am yet to put any money into it.

I am wondering if this bank is completely safe - upon opening the account I was simply sent an email quoting my account number and sort code - it seems really unprofessional and as though something could be slightly dodgy (but I suppose I have only ever banked with bug names eg Lloyds and am therefore used to their big branding etc).

Has anyone banked with Citibank or now if it completel safe for my savings?

Thanks a lot

opinions4u

If in doubt, stick less than £50k in there to remain under the FSCS limit.

Wiki Linky

If size matters: "As of March 2007, it is the largest bank in the United States by holdings".

If Government backing appeals, "Citibank was rescued by the U.S. government under plans agreed for Citigroup. On November 23, 2008, in addition to initial aid of $25 billion, a further $25 billion was invested in the corporation together with guarantees for risky assets amounting to $306 billion".

Has anyone banked with Citibank or now if it completel safe for my savings?

There is no such thing as completely safe. They own Egg and I'm happy enough to leave some of my savings with Egg.

Mr_K

Their customer service seems to be a bit of a shambles at the moment but thats common with any bank offfering the highest rate -everybody is opening accounts with them so they're struggling. Citi are one of the biggest banks in the world and regulated by the FSCS. You're money's as safe there as anywhere else.

Paul_Herring

upon opening the account I was simply sent an email quoting my account number and sort code

You mean the sorts of things that appear on the bottom of cheques?

If that's all it is, you're worrying needlessly.