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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Citi Financial

Advertiser Disclosure

About bank

Founded in 1812 in the US, Citi is one of the oldest global banks. The Canadian branch - a subsidiary of the American multinational financial services corporation Citigroup - was launched in 1919, and now the company employs approximately 1,700 people. The bank has offices in Vancouver, Calgary, Montreal, Toronto, and Mississauga and serves around 160 countries and jurisdictions. Citi serves Canadian customers through Citi Banking, Capital Markets and Advisory, Citi Markets and Securities Services, Citi Treasury and Trade Solutions, Citi Private Bank, and Citi Cards Canada. However, some of Citi’s products are not available in Canada.

Features

Citi Group provides customers with different financial products and services, but unfortunately, Canadians cannot take full advantage of them. For example, Canada's ATMs, Online Banking, and Citibank Branch services are unavailable. However, Citi has developed some online services available for Canadian users. These are The Home Depot Consumer and Commercial Credit Card accounts and The Home Depot Consumer Revolving Card accounts. 

Citi Group serves Canadians through different subsidiaries that provide their financial products. For example, credit cards are provided through Citi Cards Canada Inc. However, most of the services and products provided by Citi Canada are not suitable for regular customers. Almost all of them are designed for institutional customers such as leading corporations, financial institutions, and governments. 

Also, Citi Canada has a unique division Citi Global Wealth that serves clients across the wealth continuum. This company serves ultra-high-net-worth individuals and family offices whose average net worth is above $100 million through Citi Private Bank. 

Pros and cons 

Pros

  • The company provides different types of products and services for regular and institutional customers;

  • Citi Group is a huge international banking company;

  • The company provides unique products and services for ultra-high-net-worth individuals;

  • Citi Bank offers customers three types of credit cards.

Cons

  • The Canadian version of the website doesn’t contain enough information;

  • Most services and products that regular customers use are not available to Canadians;

  • Generally, products and services provided for Citi Canada are designed for institutional customers;

  • There are no Citi ATMs across Canada;

  • The number of products and services provided across Canada is relatively small. 

Products

As it was noted above, Citi Canada provides customers with different types of different financial products. These are: 

  • Credit cards. Credit cards are provided through the company’s subsidiary Citi Cards Canada and are represented by three variations. These are The Home Depot Consumer and Commercial Credit Cards and The Home Depot Consumer Revolving Card. However, these credit cards are designed especially for businesses of different scales.

  • Commercial Bank. Citi Canada also provides capital to fund growth or to refinance debt for commercial customers to offer solutions that support the right capital structure to meet companies' short- and long-term financing needs. 

  • Citi Private Bank Investment products. Citi Canada provides special investment tools designed for customers whose average net wealth is more than $100 million. Citi Private Bank offers different types of investments such as capital, home, art advisory, sports, aircraft, and events and networking. 

Services

  • Banking, Capital Markets, and Advisory. The company provides customers with unique financial solutions that help customers build-up financial strategies. These services are provided to top corporations, financial institutions, and public sector entities around the world through a network of corporate and investment bankers organized into the industry, product, and regional groups. 

  • Markets. Citi Canada also cooperates with different markets to provide them with an enhanced client experience. The company offers commodities, equities, foreign exchange, rates, and spread products. 

  • Security Services. Citi Canada provides companies and corporations with a wide range of security services such as custody, clearing, asset servicing, fund administration, ETF services, middle office, agency securities lending, collateral management, transfer agency, and fiduciary services. 

  • Treasury and trade solutions. Citi Group offers several treasury and trade solutions to multinational corporations, financial institutions, and public sector organizations. These services are represented by digital channels, data, liquidity management services, payments, receivables, and global trade. 

  • Private Bank Management. Besides various financial products, Citi Private Bank also provides many management services. These are custody management, treasury management, global client services, family office advisory, financial planning, and many others.

Citi Canada

FAQ

Who is Citi Canada owned by?

Citi Canada is a Canadian unit of Citi Group.

Is Citi Canada legitimate?

Yes. Citi Canada is a member of CDIC. Also, all the subsidiaries of Citi Canada are registered on OPENGOVCA.

Are Citi Canada and Citibank the same?

Yes, Citi Canada is a trading name of Citibank Canada. However, customers need to note that there are no ATMs, online banking, or Citibank branches in Canada.

Can I apply for a mortgage through Citi Canada?

Unfortunately, Citi Canada doesn’t provide financial products for individuals whose average net is below $100 million. Citi Private Bank can serve such customers.

Company documents

Privacy Statement

Citi works tirelessly to provide consumers, corporations, governments and institutions with a broad range of financial services and products. Citi strive to create the best outcomes for clients and customers with financial ingenuity that leads to solutions that are simple, creative and responsible.

© Citigroup

Citi Financial service available provinces

  • Ontario
  • Quebec
  • Nova Scotia
  • New Brunswick
  • Manitoba
  • British Columbia
  • Prince Edward Island
  • Saskatchewan
  • Alberta
  • Newfoundland and Labrador
  • Northwest Territories
  • Yukon
  • Nunavut
Citi Financial service available provinces
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