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Citizens Bank Review

How does your bank stack up?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon


  • No set amount to open most accounts
  • Business accounts offered
  • Bonus offered for some savings accounts
  • Overdraft Pass


  • Products not available everywhere
  • Accounts have monthly fees
  • High opening amounts for CDs
  • Good interest rates have stipulations

What You Need to Know

We have two reviews for Citizens Bank, one for the local bank, and one for their online accounts referred to as Citizens Access. Click here to learn more about Citizens Access.

Checking, savings, and money market accounts do not have a set amount to open the accounts. However, to earn the best interest rates, you have to be a platinum member. That means having $25,000 in Citizen Bank accounts. The basic checking and savings account does not require you to be a platinum member.

Citizens Bank offers a variety of accounts for businesses. Business checking, savings, and money market accounts are available. Credit cards, loans, and investment opportunities are available.

A GoalTrack Savings Bonus is available with most Citizen Bank savings accounts. If you meet your savings goal, you will earn a bonus. The bonuses include merchant discounts or gift cards. The more money you set up to save and the longer you keep that goal, the more you will earn. You can earn up to $250 for saving $400 a month for 36 months. Some of the participating merchants include Walmart, Target, Applebee's, Best Buy, and Marriott.

Checking and money market accounts include $5 Overdraft Pass. This means if you overdraw your account for $5 or less you will not be charged a fee. To avoid other overdraft fees, deposit money into your account as soon as possible. This is no limit to how many overdrafts qualify for the pass. Any and all overdrafts under $5 are covered.

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, and Vermont.

Citizen Bank accounts have fees. To waive the platinum checking fees, you must have at least $25,000 in Citizen Bank accounts. To get the best interest rates, you have to have a platinum checking account. Waive the fees for platinum savings accounts by having a platinum checking account.

The smallest required amount to open a Citizens Bank CD is $1,000. Some CDs require $10,000 to open. The IRA CD only requires $250 to open, but that is a CD set up for retirement purposes.

To earn the best interest rates on CDs, you must also open a premier checking account with Citizens Bank. The interest rates are more than a full percent less if you do not have a checking account too.

Cool Things

Financial Calculators

Citizens Bank provides over 20 different 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 definitions of financial terms and graphs. This helps you see the bigger picture of big purchases and decisions.

Learning Center

This area provides different financial topics. It helps you 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 the set up than a trust account. Use this money to help pay for a child's education or other approved expenses.


In 1828 High Street Bank was founded. In 1871 the name changed to Citizens Savings Bank. In 1981 there were 29 branches in Rhode Island and $1 billion in assets.

Since 1988 Citizens Bank has grown and expanded rapidly. They have acquired many different banks. This allowed them to expand into the Mid-Atlantic and the 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 different nonprofits.

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

Frequently Asked Questions

Is this bank FDIC insured?

Yes. Citizens Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

By visiting a branch or having a check mailed to you. You can transfer money between Citizens Bank accounts or to an external account. You can also transfer money through Zelle.

Does this bank offer mobile banking?

Yes. You can pay bills, deposit checks, transfer funds, and see account history. You can find ATMs and branch locations. You can receive alerts on your accounts.

Is this bank free?

No. Some accounts have monthly maintenance fees. Waive these fees by meeting certain requirements for the different accounts.

Is this a good bank?

Yes. The interest rates are higher than typical banks. If you can invest large amounts of money, you will receive the competitive interest rates. Their accounts do have fees. They are secure online.

Is this bank secure online?

Yes. Citizens Bank offers custom security alerts and password protected log in. Citizens Bank offers security software free to customers.

Does this bank offer competitive interest rates?

To get the most competitive interest rates, you have to invest a large amount of money. The interest rates for smaller deposited amounts are higher than typical banks.

Can I use this bank for my business accounts?

Yes. Citizens Bank offers savings, checking, and money market accounts. Loans, credit cards, and investment opportunities are also available.

How is the online bank different from the online banking my bank offers?

It is not different. The interest rates are slightly higher than other banks. You can access your accounts online or in a branch.

Do their checking accounts pay interest?

The Citizens Platinum and the Platinum Plus checking accounts pay interest. The interest is not competitive with other online-only checking accounts. However, you earn more than typical bank checking accounts. To waive the checking account fees, you must keep $25,000-$35,000 in Citizen Bank accounts. The One Deposit checking account does not pay interest. To waive that fee you must make one deposit per month.

How do I reach customer service?

By phone, email, mail, or by live chat on their website. You can visit a local branch or connect through Facebook or Twitter.

Does this bank offer bill pay?

Yes. You can pay bills online through the app or sign up for recurring payments. You can also receive eBills.

Can I deposit cash?

Yes, at a local branch.

How long do transfers take?

Money transferred with Zelle is transferred in minutes. Money deposited with direct deposit is available the same day.

Can I sign up for direct deposit to this account?

Yes. You can sign up for direct deposit for any Citizen Bank accounts.

Bank Contact Information

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