-
Financial Rates:
1.5
-
Customer Service:
4.0
-
Website Experience:
5.0
-
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
-
Financial Rates:
3.5
-
Customer Service:
2.5
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- Competitive interest rates
- Low required opening amounts
- Variety of CD terms available
- No monthly fees
Cons:
- Limited personal accounts offered
- Customer service not available 24/7
- No business accounts offered
- Specific transfer regulations
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.
Vio Bank offers competitive interest rates on their CDs and high yield savings account. The interest rates are much higher than typical brick and mortar bank rates. Vio Bank interest rates are competitive with other online accounts. They monitor their interest rates to keep them competitive with national rates.
Vio Bank accounts have low opening required amounts. All the different CD terms only require $500 to open. The high yield savings account only requires $100 to open.
Vio Bank offers a good variety of CD terms. The CDs range in length from six-month to 120-month terms. Each of the CDs requires $500 to open. They are all FDIC insured and can be opened online. The CD terms all earn competitive interest rates.
The savings account at Vio Bank does not have a monthly fee. There is no required balance to avoid a monthly fee. The CDs only have a fee if the money is withdrawn before the maturity date of the CD.
Vio Bank offers limited personal deposit accounts. Only a personal savings account and CDs are available. The CD terms range from six-months to 120-months. No checking or money market accounts are available.
Customers cannot reach a Vio Bank representative 24/7. Customer service has specific hours of operation. They are open Monday through Friday from 7:00 a.m. to 9:00 p.m. Central Time. Saturday they are open from 8:00 a.m. to 6:00 p.m. Sunday they open from 12:00 p.m. to 4:00 p.m.
Vio Bank does not offer business accounts. Only personal deposit accounts are available. Those accounts include a personal high yield savings account and CDs. The CDs range in term from six-month CDs to 120-month CDs.
Money can only be transferred from the savings account to external bank accounts. If you want to make a wire transfer, you must submit the forms 72 hours before the transfer takes place. Federal regulations only allow six withdrawals per month from your savings account.
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| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.73% |
| 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 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.80% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: It only takes about 5 minutes to open a fee-free account. |
|
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.