ableBanking VS Citizens Trust Bank

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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Pros:

  • Low opening amount required
  • No monthly maintenance fees
  • Competitive interest rates on accounts
  • No set balance to earn highest rates

Cons:

  • Limited deposit accounts offered
  • Customer service not always available
  • Must link another bank account
  • No checking or business accounts offered
  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
0.05%APY
Savings/MMA
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Pros:

  • Variety of personal deposit accounts
  • Most accounts have low opening amounts
  • Business accounts available
  • Other products offered

Cons:

  • Most accounts have a monthly fee
  • Not all accounts can be opened online
  • Personal accounts have low-interest rates
  • Jumbo and regular CDs earn same rates
ableBanking Review

The ableBanking accounts have low opening required amounts. The money market account only requires $250 to open. The different CD terms each require $1,000 to open.

There are no monthly maintenance fees for ableBanking accounts. As with all CDs, you will be charged a fee if you withdraw your money before the account reaches the maturity date. Federal regulations allow six withdrawals from a money market account per month. There is a fee if you withdraw more than six times.

The interest rates for ableBanking accounts are high. They are competitive with other online-only accounts. ableBanking interest rates are much higher than your typical brick and mortar rates.

Any amount you have in ableBanking accounts earns the highest interest rates offered. You do not have to have a set amount in the account to earn the highest rates on your money. There is no balance required to keep in the accounts.

ableBanking has limited personal deposit accounts available. The only accounts offered are a money market account and CDs. There are five different CD terms available. The terms range from a 6-month CD to a four-year CD.

ableBanking accounts are entirely online. There are no branch locations. Customer service has specific hours they are open. There are scheduled down times for the website. The website will be unavailable for maintenance during these times. Those days are listed on the website. The hours are from 1:00 a.m. to 5:00 a.m.

When you open an account with ableBanking, you must link an external bank account. This is how you will fund your ableBanking account. You cannot switch the external account for the first 60 days after opening the account. After that time, you may link a different account to the ableBanking money market account. You can only have one external account linked to your ableBanking account at a time.

ableBanking does not offer checking accounts or business accounts. The only accounts offered are personal deposit money market account and CDs. You must link an external bank account to transfer money into the ableBanking accounts.

Read the full ableBanking review.

Citizens Trust Bank Review

Citizens Trust Bank has a variety of personal deposit accounts. There is a checking account for students and those over 50 years old. Different checking accounts require different daily balances. Citizens Trust Bank offers holiday saving accounts and youth accounts. Their saving accounts require different balances. This allows you to find the account best for your finances.

Low opening required amounts for most Citizens Trust Bank accounts. The amounts needed to open accounts range from $25 to $100. Most checking accounts require $50 to open. The basic savings account requires $100 to open. CDS require $500 to open. The money market account and Silver Investor savings account have higher opening amounts. They require between $1,000 to $5,000.

Citizens Trust Bank offers business accounts. Checking and savings accounts are available. There are different merchant services and cash management options available to businesses. They also offer loans, credit cards, and investment accounts for businesses.

There are a variety of different products offered through Citizens Trust Bank. They offer personal and business credit cards and loans. They offer Investment accounts and different types of insurance, including life insurance, disability insurance, and final expense insurance.

Most Citizens Trust Bank accounts have a monthly fee. The fees range from $0.30 per check or debit card transaction to $15 a month. Waive the fees by keeping a minimum balance in the account. The required balances range from $5 to $7,500 depending on the account. Some accounts require enrolling in online banking and receiving eStatements.

Not all Citizens Trust Bank accounts can be opened online. Some accounts require visiting one of the Citizens Trust Bank financial centers. The youth savings account and the Christmas Club account must be opened in a branch location.

The interest rates for Citizens Trust Bank are low. The rates are similar to your typical brick and mortar bank rates. Their rates are not competitive with online bank rates.

Citizens Trust Bank offers regular and jumbo CDs. The regular CDs require $500 to open. The jumbo CDs require $100,000 to open. The interest rates are the same for the regular CDs and the jumbo CDs. Both rates are not competitive with other online accounts. The CDs range from seven-days to five-year terms.

Read the full Citizens Trust Bank review.

Favorite Rates

Citizens Access
Savings 11/14/2018
APY 2.25%
Rate 2.23%
For APY $5,000
Monthly Fee $0.00
Checkbook No
$5,000 minimum balance to obtain APY. Absolutely no fees.
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TIAA Bank
MMA 11/14/2018
APY 2.15%
Intro Rate 2.13%
Intro Duration 12 Months
Post Intro 1.09%
For APY $5,000
Monthly Fee $0.00
Checkbook Yes
Earn a top 5% yield- always! Open an Account today. FDIC insured.
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PurePoint Financial
Savings 11/14/2018
APY 2.15%
Rate 2.13%
For APY $10,000
Monthly Fee $0.00
Checkbook No
Open Online in Minutes. Deposits FDIC Insured. Earn More Today.
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Sallie Mae
MMA 11/14/2018
APY 2.12%
Rate 2.10%
For APY $0
Monthly Fee $0.00
Checkbook Yes
Member FDIC Insured.
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State Farm Bank
MMA 11/14/2018
APY 2.10%
Intro Rate 2.08%
Intro Duration 12 Months
Post Intro 1.00%
For APY $0
Monthly Fee $10.00
Checkbook Yes
Intro APY, $1,000 to Open, $5,000 Min Bal post intro, See Limits
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Barclays
Savings 11/14/2018
APY 2.05%
Rate 2.03%
For APY $0
Monthly Fee $0.00
Checkbook No
No Minimum Balance. No Monthly Maintenance Fees. FDIC Insured.
Learn More &
Open Account
Salem Five Direct
Savings 11/14/2018
APY 2.05%
Rate 2.03%
For APY $100
Monthly Fee $0.00
Checkbook No
Your deposit is fully insured. No minimum and no monthly fees!
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Open Account
Capital One 360
MMA 11/14/2018
APY 2.00%
Rate 1.98%
For APY $10,000
Monthly Fee $0.00
Checkbook Yes
One of the Nation's Top Savings Rates - No Fees
Learn More &
Open Account
Live Oak Bank
Savings 11/14/2018
APY 2.00%
Rate 1.98%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC. Earn 20x the National Average
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Open Account
American Express National Bank
Savings 11/14/2018
APY 1.90%
Rate 1.88%
For APY $1
Monthly Fee $0.00
Checkbook No
Accounts offered by American Express National Bank. Member FDIC
Learn More &
Open Account
E*TRADE Bank
Savings 11/14/2018
APY 1.90%
Rate 1.88%
For APY $1
Monthly Fee $10.00
Checkbook No
Make the most of your savings - higher rates & a whole lot more!
Learn More &
Open Account