CIT Bank offers custodial accounts. You open the account in your child's name, but you control the account until the child is eighteen years old. There are no limits on how much you deposit into the account. There are tax benefits to having a custodial account.

The interest rates for CIT Bank accounts are very competitive. The high yield savings account rates are much higher than your typical bank. CIT Bank rates are even higher than other online-only accounts. CD rates are also competitive.

CIT Bank offers a variety of CDs including regular term CDs, no-penalty CD, jumbo CDs, and Ramp Up CDs. The no-penalty CD is an eleven-month CD. You earn interest on a CD with the options to withdraw the money at any time after the first seven days. The Ramp-Up CDs allow you to get a better rate once during the term of the CD. With the Ramp-Up Plus CD, you can get a better rate and make a deposit once during the term of the CD.

CIT Bank does not have a fee to open any of their banking accounts. There are no monthly maintenance fees for any of their banking accounts either.

The required amount to open a CD with CIT Bank is high. The minimum deposit for CDs is $1,000, including custodial accounts. Jumbo CDs require $100,000 to open. Other CDs require either an opening balance of $25,000 or $50,000. The minimum deposit to open a savings account is $100.

Transferred funds are not available until five to ten business days after the deposit is made. Deposits transferred from an external account are available after five days. Deposits mailed take ten days after the deposit is received.

Any money deposited into a custodial account is an irrevocable gift. You cannot withdraw or transfer the money from the account. It cannot be used for any purpose that doesn't directly affect the child listed on the account. Once the child reaches eighteen years of age, the money can be accessed.

CIT Banks fees for early CD withdrawals are higher than other banks. The fee for withdrawing money early from a CD with a term of more than three years is twelve months of interest. The fee for terms from one to three years is six months interest. Fees for CD terms up to one year are three months interest.

Read the full CIT Bank review.

If you have a question, the Chief Customer Advocate is there to help. This person works with the CEO of Nationwide to ensure the customer's needs are being met. If you have a policy problem or a question about a statement, call the Chief Customer Advocate.

Nationwide customers can make eight transactions at any ATMs each billing cycle. Nationwide will not charge you a fee, but the ATM owner might. If you are a premier member, you get unlimited ATM transactions without fees. To be a premier member, you must have another bank account, loan, credit card, or an insurance policy with Nationwide. There are over 77,000 surcharge-free ATMs.

As a premier member, you earn cash back on your debit card purchases. If you use your debit card for at least $1,200 in purchases each month, you will earn 0.25% on those purchases. The reward cap is $20 per month. This reward will not start until your account is active for 180 days.

Opening a savings or checking account with Nationwide only requires $25. You start earning competitive interest rates with the $25 you deposit to open the account.

Nationwide uses Popmoney to transfer money between people. Money transferred with Popmoney is not instant. The delivery takes three business days. If you want the money sent instantly, it will cost $0.25 per transaction. Each transfer must be at least $5.

To open a CD, you must have at least $500. Once you open an account, you can choose from three month to five-year CDs.

Nationwide does not offer credit cards or prepaid cards anymore. If you already have a prepaid card, you can use it until the money is gone, but you cannot reload money onto it. If you currently have a credit card with Nationwide, you can use it as normal, but Nationwide is no longer taking credit card applications.

There is a fee if you do not use your checking account for 365 consecutive days. On the 366th day, a $5 fee will be charged. Each month the account is not active will have a $5 fee. To avoid the fee, sign up for direct deposit.

Read the full Nationwide review.