Citigroup to use rewards to turn credit card customers into digital bank account holders

Citigroup won’t use high deposit rates to win digital accounts: executive — Reuters — “Citigroup Inc does not plan to use high deposit rates to attract customers to its new digital bank accounts when it begins marketing this fall, the chief of its global consumer bank said on Tuesday… Instead, the bank will market the accounts nationally to its credit card customers, such as holders of its Double Cash card and cards it issues for American Airlines Group, and Costco Wholesale Corp and Home Depot Inc… Bird said, for example, that offering additional American Airlines mileage credits will attract stable deposits to the bank.”





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