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.

Read the full Citizens Bank review.

VirtualBank money market accounts have a low required opening deposit. The required amount is only $100. That opening deposit is for the eMoney Market and the Jumbo eMoney Market.

The interest rates on VirtualBank accounts are competitive with other online-only accounts. You only need one penny in the eMoney Market account to earn interest. To earn the highest interest on the Jumbo eMoney Market, you must keep at least $250,000 in the account. Anything over $0.01 earns interest, just not the highest rates.

The eMoney Market account offers a competitive introductory rate. New customers to VirtualBank receive a higher interest rate for the first year of the account being open. After the first year, the rate drops considerably. The lower rate is still much higher than your typical brick and mortar bank rates. Money already in a VirtualBank account does not qualify for the higher rate.

All VirtualBank accounts come with online and mobile banking. With online banking, you can see account balances, transfer funds, and receive e-Statements. Everything that can be done online can be done through mobile banking. You can also deposit checks through the app.

The eMoney Market and the Jumbo eMoney Market account have a monthly fee. The fee is $5. To waive the monthly fee, you must keep $100 in the account.

The Jumbo eMoney Market requires $250,000 to earn the highest interest rate. You still earn interest on any amount less than $250,000. To earn the highest amount, you must have that balance. This account only requires $100 to open. The eMoney Market account earns the same amount of interest not matter how much you have in the account.

VirtualBank CDs require $10,000 to open. The CDs range from a one-month term to a five-year term. There are 11 different CDs between those term lengths. The interest rates for each different term are competitive. The longer the term, the higher the interest rates.

VirtualBank does not offer checking accounts. They used to offer an eChecking account, but it no longer available. Because no checking accounts are offered, there are no ATM or debit cards. Bill pay is not available. You can have money directly deposited into VirtualBank money market accounts.

Read the full VirtualBank review.