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Alliant Credit Union VS Citizens 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:

  • No monthly maintenance fees
  • ATM fee reimbursement
  • Low opening required amounts
  • Variety of personal deposit accounts

Cons:

  • Must qualify to become a member
  • No business accounts offered
  • To earn interest requires qualifications
  • Jumbo CD rates similar to regular CDs
  • 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 Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

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

Cons:

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

Accounts offered through Alliant do not have monthly maintenance fees. The only fee is if you receive paper statements. To keep the account open requires a $5 balance. To earn interest does require $100 in all the savings accounts.

Alliant participates with over 80,000 ATMs free of charge. If you withdraw money from an ATM not in their network, Alliant will reimburse those fees. They reimburse up to $20 per month in ATM fees. Deposits, withdrawals, transfers, and checking account balances qualify for a rebate. The high rate checking, and teen checking account qualify for ATM reimbursement.

The amounts required to open Alliant accounts is low. The savings accounts require $5 to open. The checking accounts do not list a set amount to open. All the regular CD terms require $1,000 to open. Alliant does offer jumbo CDs, but they require $25,000 to open.

Alliant offers a good variety of personal accounts. They offer a free, high-rate, and teen checking account. They offer two savings accounts and a savings account for kids. Personal credit cards, lending options, and insurance options are also available.

To open Alliant accounts, you must become a member of their credit union. You must meet qualifications to become a member. Those requirements include working with specific companies or be related to someone who is a member of Alliant. If you do not meet those requirements, you may be able to qualify through Support Foster Care to Success. Find out if you are eligible on the Alliant website.

Alliant does not offer specific business accounts. Only personal deposit accounts are available. Those accounts include savings accounts, checking accounts, and CDs. Personal credit cards, lending options, and insurance are also offered.

The interest rates on Alliant accounts are not tiered. To earn the most competitive interest rate, you must meet specific qualifications. Those include receiving eStatements and having at least one monthly electronic deposit. Direct deposits help you qualify.

The Alliant jumbo CDs interest rates are only slightly higher than the regular CD rates. The jumbo CDs require $25,000 to open, but do not offer much higher rates than the regular CD rates. The regular CDs require $1,000 to open. Alliant offers six regular and six jumbo CDs.

Read the full Alliant Credit Union review.

Citizens Bank Review

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.

Read the full Citizens Bank review.

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