You may like Citizens Bank if you live on the East Coast or Midwest and are looking for a brick-and-mortar bank. It pays decent rates on its online CDs, but the best CD rates are still at other banks.
Citizens Bank: Overall Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 3.25 |
| Checking | 4 |
| Money market | 3.5 |
| CD | 3.5 |
| Trustworthiness | 3.5 |
| Total | 3.5 |
Citizens Bank Pros and Cons
| Pros | Cons |
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About Citizens Bank
Citizens Bank has more than 1,100 branches and 3,400 ATMs along the East Coast and Midwest. You may want to consider the brick-and-mortar bank if you live in the following places:
- Connecticut
- Delaware
- Florida
- Maryland
- Massachusetts
- Michigan
- New Hampshire
- New Jersey
- New York
- Ohio
- Pennsylvania
- Rhode Island
- Vermont
- Virginia
- Washington, DC
For questions about your bank account, call customer support from 7 a.m. to 10 p.m. ET on weekdays or from 9 a.m. to 6 p.m. ET on weekends.
The bank's mobile app is rated 4.7 out of 5 stars in both the Apple and Google Play stores.
Citizens Bank is FDIC-insured, which means up to $250,000 is secure in an individual bank account.
Is Citizens Bank Trustworthy?
The Better Business Bureau rates banks based on whether they respond effectively to customer complaints, advertise honestly, and have transparent business practices.
Citizens Bank has a A rating from the BBB due to government action taken against the business.
In May 2023, the Consumer Financial Protection Bureau required Citizens Bank to pay a $9 million penalty in a settlement that accused the bank of violating the Truth in Lending Act and not resolving customer issues regarding credit cards.
Citizens Bank FAQs
Is Citizens Bank legit?
Yes, Citizens Bank is legitimate. It has bank accounts that are federally insured by the FDIC. Up to $250,000 per depositor is safe in an account.
What is the minimum balance for Citizens One Deposit Checking?
Citizens One Deposit Checking has a $0 minimum opening deposit.
Which states have Citizens Bank?
Citizens Bank has branches in Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington, DC.
Is Citizens a good bank to open a savings account?
Citizens Bank is not the best bank for a savings account, because it pays a low interest rate. But Citizens, the online-only division of the bank, has a good high-yield savings account called Citizens Access Savings.
Is Citizens Online Bank a good bank?
Citizens Bank has an online-only division, Citizens (previously called Citizens Access), that offers a high-yield savings account and CDs. It's a good bank overall that pays high rates.
How is Citizens Bank ranked?
Citizens Bank is the 14th-largest bank by assets in the U.S., and the ninth-largest bank by branch number.
Is Citizens Bank a strong bank?
In general, Citizens Bank is a strong bank; it has multiple types of bank accounts, plus an online division with high-yield accounts that are available nationwide.
Citizens Bank Account Reviews
One Deposit Savings from Citizens
$4.99 monthly service fee
0.01%
$0
Pros
Cons
You may like Citizens Bank if you live on the East Coast or Midwest and are looking for a brick-and-mortar bank. It pays good rates on online CDs, but the best CD rates are still at other banks.
Citizens Bank- Over 1,100 branches in 14 US states: CT, DE, FL, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT, and VA
- To waive the $4.99 monthly service fee, you must make at least one deposit of any amount each month OR you must be either under the age of 25/over the age of 65
- Interest compounded and deposited monthly
- FDIC insured
One Deposit Savings from Citizens doesn't require an opening deposit and automatically waives the monthly bank maintenance fee if you're a minor, young adult, or senior. You can also waive the fee if you make one deposit each month.
Citizens Bank savings rates on standard bank accounts at branches are low, overall. If you'd like to earn a higher interest, our best high-yield savings accounts guide will have some more compelling options to consider.
Compare Today's Rates
Citizens Bank One Deposit Checking Account
$9.99 monthly service fee
None
$0
Pros
Cons
You may like Citizens Bank if you live on the East Coast or Midwest and are looking for a brick-and-mortar bank. It pays good rates on online CDs, but the best CD rates are still at other banks.
Citizens Bank- Over 1,100 branches in 14 US states: CT, DE, FL, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT, and VA
- Over 3,400 free ATMs
- To waive the $9.99 monthly service fee, make at least one deposit of any amount each month
- Overdraft protection allows you to link to a savings account or open a line of credit
- If you don't have overdraft protection, Citizens Peace of Mind reimburses overdraft fees if you restore your account balance by 10 p.m. ET the next day
- FDIC insured
The Citizens Bank One Deposit Checking Account is a solid checking account with no minimum opening deposit. It waives the monthly service fee if you deposit money into your account at least once a month.
The bank still charges a $35 overdraft fee for overdrawing, but it has a program for reimbursing these fees. Through Citizens Peace of Mind, the bank refunds overdraft fees on any checking or money market accounts if you deposit money into your account before 10 p.m. ET the next business day.
Compare Today's Banking Offers
Citizens Bank 14 Month Online CD
2.75%
$1,000
Pros
Cons
You may like Citizens Bank if you live on the East Coast or Midwest and are looking for a brick-and-mortar bank. It pays good rates on online CDs, but the best CD rates are still at other banks.
Citizens Bank 14 Month Online CD- Over 1,100 branches in 14 US states: CT, DE, FL, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT, and VA
- Early withdrawal penalties may apply
- Interest compounded and deposited monthly
- FDIC insured
Citizens Bank offers a strong interest rate on its 14-month online-only CD, but you can get better rates at the best online banks and credit unions. The Citizens Bank 10 Month Online CD pays a great rate, but the minimum deposit is significantly higher.
If you need to withdraw money from your CD before it matures, keep in mind there's a hefty early withdrawal penalty.
Citizens Bank Personal Money Market Account
$10 monthly service fee
0.01%
$0
Pros
Cons
You may like Citizens Bank if you live on the East Coast or Midwest and are looking for a brick-and-mortar bank. It pays good rates on online CDs, but the best CD rates are still at other banks.
Citizens Bank- Over 1,100 branches in 14 US states: CT, DE, FL, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT, and VA
- To waive the $10 monthly service fee, keep at least $2,500 in your account daily
- Interest compounded and deposited monthly
- FDIC insured
The Citizens Bank Personal Money Market Account might be worthwhile if you plan to keep at least $2,500 in your account daily, so you don't have to pay a monthly bank fee.
Otherwise, the bank's checking account is likely a stronger option if you'd like easy access to your bank account.
How Citizens Bank Compares
Citizens Bank vs. TD Bank
TD Bank is a brick-and-mortar financial institution on the East Coast with over 1,100 branches and 2,600 free ATMs.
Both banks offer decent options for checking accounts. The TD Bank Beyond Checking Account notably doesn't charge out-of-network ATM fees and reimburses two overdraft fees per year. With the Citizens Bank One Deposit Checking Account, there's no minimum opening deposit, and you're eligible for overdraft fee refunds if you restore your account balance promptly.
If your priority is earning a high interest rate on a CD, you may want to choose a different bank. Other financial institutions have more competitive CD rates right now.
Citizens Bank vs. Santander Bank
Citizens Bank may be a better option if you prefer an institution with a large branch and ATM network. Citizens Bank has 1,200 branches in 14 US states, while Santander has about 443 branches in 8 Northeast states.
You'll probably prefer Santander if you want to open a traditional savings account or CD. The Santander® Bank, N.A. Savings Account pays a slightly higher interest rate than One Deposit Savings from Citizens and lets you waive the $1 monthly service fee if you have $100 in your account, open a Santander checking account, or for account owners under the age of 26. Santander CDs also have a low minimum opening deposit.
Why You Should Trust Us: How We Reviewed Citizens Bank
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology.
Each account receives a star rating between one and five. We evaluate a bank's ethics, security, customer service, and mobile app, and miscellaneous features for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
