Citigroup to Reduce Fees on U.S. Banking Accounts
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Citigroup Inc. will halve the minimum balance on checking accounts with the highest level of service, in a push to get more customers to use the bank for their primary accounts.
Clients with Citigold accounts can avoid monthly fees if they keep $50,000 in combined balances at Citigroup starting Nov. 1, the New York-based bank said in an e-mailed statement. Citigroup also plans to eliminate fees for some account holders at the basic account level. A formal announcement of the new policies may come as early as today.