-
Financial Rates:
1.5
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Customer Service:
4.0
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Website Experience:
5.0
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Bank Fees:
3.5
Pros:
- No set amount to open most accounts
- Good variety of accounts available
- Overdraft Pass
- Can open most accounts online
Cons:
- Products not available everywhere
- Accounts have monthly fees
- Limited CD terms offered
- Low interest rates for accounts
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?
Yes. Citizens Bank is FDIC insured. The FDIC is an agency of the United States government. They protect funds deposited in banks, up to $250,000 per customer, per bank. The money is backed by the full faith and credit of the United States government.
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 and make payments through Apple, Google, or Samsung Pay.
Yes, at a local branch. Some ATMs may accept cash deposits.
Money transferred with Zelle transfers in minutes. Money deposited through direct deposit is available the same day.
Yes. You can sign up for direct deposit for any Citizen Bank accounts.
Transactions made at Citizens Bank ATMs are free. Transactions made at other bank’s ATMs may have a fee.
Some accounts offer the first four ATM transactions free at other bank ATMs.
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.
Yes. You can pay bills online through the app or sign up for recurring payments. You can also receive eBills.
To earn the highest interest rates, you have to invest a large amount of money. The interest rates are not competitive with other online accounts.
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 the fee, you must make one deposit per month.
The Citizens Bank Platinum and Platinum Plus money market accounts are popular.
The monthly fees range from $3.99 to $25 per month. Waive these fees by keeping set account balances. Those amounts range from $2,500 to $25,000, depending on the account.
Citizens Bank offers a good variety of accounts. You can open most accounts online, if you live in a state where they operate. Accounts have low opening requires amounts. The accounts do have monthly fees.
Citizens Bank offers custom security alerts, and password protected log in. Citizens Bank offers security software free to customers.
Yes. Citizens Bank offers business savings, checking, and money market accounts. Loans, credit cards, and investment opportunities are also available.
You can open and access your accounts online or at a branch location.
By phone, email, mail, or by visiting a local branch. You can follow Citizens Bank on Facebook, Instagram, LinkedIn, Twitter, or YouTube.
Bank Contact Information
Citizens BankFind a branch near you
800-922-9999
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| Savings (Rate as of 11/18/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.80% |
|---|---|
| Rate | 4.69% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No fees. Easy deposits and quick withdrawals. | |
| Savings (Rate as of 11/18/2024) | |
| APY | 5.00% |
|---|---|
| Rate | 4.89% |
| Min to Open | $500 |
| Min to Earn APY | $500 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 4.00% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC It only takes about 5 minutes to open a fee-free account. | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.46% |
|---|---|
| Rate | 4.46% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.50% |
|---|---|
| Rate | 4.50% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC $200 Bonus w/ Tiered Savings Account and Qualifying Activities | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.60% |
|---|---|
| Rate | 4.50% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.75% |
| Min to Open | $10 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| FDIC insured at program banks† var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank | |
| Savings (Rate as of 11/18/2024) | |
| APY | 4.20% |
|---|---|
| Rate | 4.11% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.