What You Need to Know

Checking, savings, and money market accounts do not have required opening amounts. However, to earn the best rates, you must be a Platinum member. A Platinum member has at least $25,000 in Citizen Bank accounts. The basic checking and savings accounts do not require you to be a Platinum member.

Citizens Bank offers a variety of accounts. These accounts include:

• Four personal checking accounts
• Three personal money market accounts
• Four personal savings accounts
• CD terms of 11, 14, and 24-month CDs
• IRA accounts
• Personal credit cards, lending, retirement, and investment options
• Business savings, checking, and money market accounts
• Business CDs
• Credit cards, lending, and investment options for businesses

Checking and money market accounts include $5 Overdraft Pass. If you overdraw your account for $5 or less, there will not be a fee. To avoid other overdraft fees, deposit money into your account as soon as possible. There is no limit to how many overdrafts qualify for the pass.

If you live where Citizens Bank account are available, you can open most personal accounts online. The application is entirely online. To open the College Saver savings account, you need to visit a branch location. Business and IRA account must also be opened in a branch.

Accounts are not available everywhere. Citizens Bank currently operates in 11 states. If you do not live in one of these states, you cannot open an account. Those states are:

• Connecticut
• Delaware
• Massachusetts
• Michigan
• New Hampshire
• New Jersey
• New York
• Ohio
• Pennsylvania
• Rhode Island
• Vermont

Citizen Bank accounts have fees. The fees range from $3.99 to $25 each month. There are ways to waive the fees. Those included making deposits and having set account balances. The balances range from $2,500 to $25,000, depending on the account. You can waive some money market and savings account fees by opening a Platinum checking account.

There are only three standard CD terms offered through Citizens Bank. They offer 11, 14, and 24-month CDs. The 14-month CD is an online-only account. Each term requires $1,000 to open. Business and IRA CDs are also available.

Most Citizens Bank accounts have low rates. The interest rates compare to typical brick-and-mortar bank rates. The CDs offer slightly higher rates if you also open a Citizens Bank checking account. Even those higher rates are not competitive with other online accounts.

Digital or Mobile Banking

Citizens Bank offers a mobile app and online banking. Through these tools, you can:

• See account balances
• Transfer money
• Pay bills
• Pay others with Zelle
• Make mobile check deposits
• Find ATM and branch locations
• Set up account alerts
• Turn debit cards off and on
• View account statements
• Download account information into Quicken or QuickBooks
• Pay others with Apple, Google, or Samsung Pay

Cool Things

Financial Calculators

Citizens Bank provides over 20 financial calculators. These help you with big financial decisions. Some of the calculators include renting vs. buying and a budget planner. Leasing vs. buying and a savings rate comparison calculator are others. The calculators include financial terms and graphs to show the bigger picture of the purchase.

Learning Centers

This area has financial topics to help increase your financial knowledge and potential. Learn more about saving, budgets, managing debt, owning a home, and retirement. Learn from videos, charts, information, and examples of graphs. Also, stay up on what is trending in the financial area online. Find answers to many financial questions here.

Custodial Accounts

Set money aside for your child with a custodial account. Open the account in your child's name. You manage the funds until your child turns 18 or 21 years old, depending on what account you open. Custodial accounts are easier and less expensive to set up than a trust account. The money can help pay for a child's education or other approved expenses.

History

High Street Bank started in 182, and in 1871 the name changed to Citizens Savings Bank. In 1981, there were 29 branches in Rhode Island, and they had $1 billion in assets.

Since 1988 Citizens Bank has grown and expanded rapidly. They have acquired many banks, which allowed them to expand to the Mid-Atlantic and Midwest. They had over $170 billion in assets at the beginning of the financial crisis.

After the crisis, they made changes to ensure their safety. One of those changes included offering more stable accounts. Those accounts include savings, money market, and checking accounts. They increased their products online and invested money into new technology.

Today they have over $152 billion in assets and over $115 billion in deposits. They have 1,150 branches and 3,300 ATMs. Citizens Bank headquarters are in Providence, Rhode Island.

Awards and Recognition

• "Best Treasury and Cash Management Provider" by Global Finance in 2018
• "Best Banks in America" by MONEY Magazine in 2013, 2014, and 2017
• "Champion for Children" by Homeless Children's Education Fund in 2014

Giving Back

Employees of Citizens Bank volunteered at charities and nonprofit organizations. They logged more than 114,000 hours of their time. Citizens Bank doubled the charitable contributions of their employees to these nonprofits.

In 2017 Citizens Bank donated $1.2 million. The money went to support food banks, food pantries, and meal sites. Employees of Citizens Bank logged over 5,000 hours helping these organizations.

Citizens Bank created Champions in Action. This program awards nonprofits who are making their communities a better place. For over 15 years, Citizens Bank has awarded almost $9 million to over 300 nonprofits.

List of Common Bank Fees

• ATM Fees in the United States: $0-3
• ATM fees international: $0-3, plus 3% of transaction
• Bill Pay: $0
• CD Early Withdrawal Fees: 90-180 days of interest, plus a $50 transaction fee
• Excessive Withdrawal Fees: $15
• Monthly Service Fees: $0-25
• Overdraft Service Fees: $37
• Paper Bank Statements: $0-3
• Wire Transfers (Domestic): $0-31
• Wire Transfers (International): $5-40

Frequently Asked Questions

• Are all the accounts FDIC insured?
• How do I access my money?
• Can I deposit cash?
• How long do transfers take?
• Can I sign up for direct deposit?
• Are ATM transactions free?
• Are ATM transaction fees reimbursed?
• Is mobile banking or a mobile app available?
• Is bill pay offered?
• Do the accounts offer competitive interest rates?
• Do checking accounts earn interest?
• What are the most popular accounts?
• What are the monthly maintenance fees?
• Is this one of the best banks?
• How are my money and information protected?
• Are any business accounts offered?
• What makes these accounts different?
• How do I reach customer service?

Bank Contact Information