Citi is revamping its retail banking offering, abandoning account packages in favor of a new set of “relationship tiers.”
The new system, which lets customers unlock tiers as their total average monthly balance increases, is like an airline or hotel rewards program, according to the bank. More perks and services come with new tiers, such as professional financial planning, free Citi fees at non-Citi ATMs, and monthly service fees on checking and savings accounts that are waived.
By tying together eligible family members who reside in the same household, customers can also reach higher tiers. New customers can start using the new tiering system right away, and current users will switch over next year.
Read More: Citi introduces ‘relationship tiers’ for retail customers
