Citi Revamps Checking Accounts, Vows to Remove Additional Fees

Citigroup Inc. will make sweeping changes to its checking-account offerings as the banking giant makes a deeper push into wealth management.

The company is ditching standard account packages and will instead adopt “relationship tiers” that are based on customer’s deposit and investment accounts, according to a statement Wednesday. As customers plow more money into their Citigroup accounts, they’ll automatically be moved into new accounts that offer additional rewards.

A Citibank branch in San Francisco on April 7.

Photographer: David Paul Morris/Bloomberg

Under Chief Executive Officer Jane Fraser, Citigroup has been seeking to beef up its offerings for the world’s most affluent individuals, and the firm has hired Andy Sieg, a ...