Citi Charges Cryptocurrency Purchases with Credit Cards as Cash Advances

Citibank customers can buy crypto using their credit cards on some exchanges, but Citi typically treats those transactions as cash advances rather than standard purchases.

This classification triggers higher interest rates and additional fees of 5% or $10, whichever is greater, per transaction.

The bank's policy applies across all major exchanges, including Coinbase, Kraken, and Binance.US.

Citi has announced plans to launch an institutional crypto custody platform in 2026, which will support stablecoins and the underlying assets backing cryptocurrency exchange-traded funds.