Personal Finance

What does Citibank offer in Canada? A closer look

Piyush Singh

31.12.25

Read time 2 minutes

Citibank offers several services in Canada, from global payments to liquidity management¹, but these are mainly aimed at businesses rather than consumers. While this may appeal to business owners, it's unlikely to be the best choice for personal banking needs.

This article explains the services Citibank provides in Canada and outlines alternatives for common consumer banking needs. We'll also introduce Wise as an option for international spending and currency management.

Citibank's presence in Canada

Citibank, a subsidiary of Citigroup, focuses on corporate banking, institutional clients, and private banking. In Canada, it specialises in helping mid-sized companies looking to expand internationally.²

Citibank is also a member of the Lynx payment system³, which enables financial institutions to send high-value wire payments on behalf of their clients.⁴ Clients benefit from enhanced cybersecurity and advanced financial reporting capabilities.

What Citibank does not offer in Canada

If you're looking for personal banking, Citibank is unlikely to meet your needs. It doesn't offer personal chequing or savings accounts. While private banking is available, eligibility requires a personal net worth of at least 10 million CAD⁵, making it inaccessible for most Canadians.

What Citibank does offer to Canadians / in Canada

Citibank offers a limited range of products in Canada:

Home Depot Credit Card: Offered in partnership with Home Depot, this card has an APR of 29.99% ⁶ and can be used exclusively at Home Depot.⁷
Private banking and wealth management: Available to individuals with a net worth of 10 million CAD or more. Services include cross-border banking and access to Citibank's global network in nearly 160 countries.
Foreign currency exchange: Citibank offers a currency exchange service⁸ that lets you order foreign cash to your home or office at the bank's set exchange rate. A commission applies, which reduces the amount of foreign currency received. Availability varies by region.
Corporate services: Citibank provides business clients with tools to manage domestic and international payments, streamlining financial operations.

Services in Canada by Citi vs what consumers might expect

Service / product	Citi Canada offers it?	Notes / caveats
Consumer checking / savings accounts	No	Private banking is available only to clients with a net worth above 10 million CAD
General credit cards	No	Offers only the Home Depot Credit Card for Home Depot purchases
Private banking / wealth	Yes	Available only to clients with over 10 million CAD
Corporate / institutional banking	Yes	Citibank's main focus in Canada
Foreign exchange / currency services	No	May only be available to existing Citi account holders (accounts not typically open to Canadian residents)
Deposit insurance via CDIC	Some products⁹	Check product details on Citi Canada's website

Meet Wise: Get more done with a Wise account

If Citibank doesn't meet your needs, consider Wise for your international finances. Wise uses the mid-market exchange rate - the same rate you see on Google. It charges a small, upfront fee, so you always know the true cost of your transfer. If you're comparing options, use Wise's online calculator to see the rate, fee, and exact amount of foreign currency you'll be sending or receiving.

Your account also comes with an optional Wise card. When you spend, Wise automatically debits from your local-currency balance (if available). If not, it converts from the currency with the lowest fee, so you only pay to convert what you need. For Canadians studying, travelling, or working abroad, a Wise card helps minimise conversion fees and gives 24/7 access to your funds.

Conclusion

Citibank mainly serves corporate and institutional clients in Canada, with limited consumer banking options.

If you're seeking international banking solutions, consider Wise. It specialises in cross-border spending, conversions, and transfers, often at lower costs than traditional banks.

When comparing providers, consider the total cost of your transfer.

Sources

Sources verified on 30 December 2025

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.