Citizens Bank Review 2022
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The One Deposit Savings account has an APY below the national average. Those looking for higher rates may wish to consider an online bank, like Citizens Access, the online-only division of Citizens Bank.
Citizens Bank offers a unique savings account called the CollegeSaver, which gives kids a $1,000 bonus when they turn 18. To qualify, an account must be opened before the child’s 12th birthday, and a minimum amount is required to be saved each month: $25 if the child is under 6 years old at account opening, and $50 if the child is 6 or older but under 12 years old at account opening.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Interest earned on CD accounts can be withdrawn before maturity without a penalty, but only on accounts with a minimum $5,000 deposit. Platinum Checking and Platinum Plus checking customers earn higher yields on CDs.
Citizens Bank also offers a Breakable CD, with terms ranging from three months to five years, that allow for a one-time withdrawal of principal without an early withdrawal penalty.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The account comes with a debit card, which can be linked to your smartphone’s digital wallet, and Zelle is available for peer-to-peer transactions. The mobile app receives high marks in the Google Play Store and Apple’s App Store.
Citizens Bank charges $35 per item paid on overdrawn accounts, which is a little above the national average of $33.58, according to Bankrate’s .
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Citizens BankCitizens Bank Review 2022
Matthew Goldberg is a consumer banking reporter at Bankrate. Matthew has been in financial services for more than a decade, in banking and insurance. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
3.2 Bankrate Score CDs Checking Savings MMA About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
Citizens is a good option for consumers living in the 11 states where it has branches. Those outside of Citizens Bank’s footprint might consider , Citizens Bank’s online division that began offering accounts in July 2018.Highlights
24/7 Customer Service Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.Overall
Citizens Bank could be a good fit for those looking for a bank in the 11 states in the Eastern U.S. where it has branches.Pros
No fee is charged on overdrafts of $5 or less. Citizens has about 1,000 branches and 2,900 ATMs.Cons
ATM fees are waived only with higher status accounts; otherwise, a $3 fee for out-of-network ATM withdrawals applies. Yields for savers are low.Citizens Bank bank products
Savings CD Money Market Checking 2.4 Bankrate ScoreCitizens Bank savings overview
Citizens Bank’s One Deposit Savings account can be opened without a deposit, though a $200 minimum balance is needed to avoid the $4.99 monthly maintenance fee. For customers under age 25 or 65 and older, the account is fee free.The One Deposit Savings account has an APY below the national average. Those looking for higher rates may wish to consider an online bank, like Citizens Access, the online-only division of Citizens Bank.
Citizens Bank offers a unique savings account called the CollegeSaver, which gives kids a $1,000 bonus when they turn 18. To qualify, an account must be opened before the child’s 12th birthday, and a minimum amount is required to be saved each month: $25 if the child is under 6 years old at account opening, and $50 if the child is 6 or older but under 12 years old at account opening.
Pros
The One Deposit Savings account can be opened with any deposit amount. The $200 minimum balance requirement is low compared with other brick-and-mortar banks. There is no minimum balance to open the Citizens Bank Platinum Plus Savings account.Cons
Other banks offer much higher APYs. With the CollegeSaver, customers are permitted to miss only one monthly deposit each year to still qualify for the $1,000 bonus. CollegeSaver accounts earn below the national average APY on all balances. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min balance for APY Offer details Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 2.8 Bankrate ScoreCitizens Bank CD overview
Citizens Bank offers CD terms ranging from one month to 10 years. The minimum deposit to open an account — $1,000 — is on the lower end, though the accounts pay much less competitive yields. Early withdrawal penalties range from 90 days’ interest on the amount withdrawn for CDs with terms of less than one year to 180 days’ interest for one-year or longer CDs. In addition, a $50 transaction fee applies to early withdrawals.Interest earned on CD accounts can be withdrawn before maturity without a penalty, but only on accounts with a minimum $5,000 deposit. Platinum Checking and Platinum Plus checking customers earn higher yields on CDs.
Citizens Bank also offers a Breakable CD, with terms ranging from three months to five years, that allow for a one-time withdrawal of principal without an early withdrawal penalty.
Pros
The minimum deposit required is accessible to many savers. Interest can be paid out on a monthly basis before the CD matures. Breakable CDs, which permit a one-time withdrawal of principal, are available.Cons
Yields are very low except for Platinum or Platinum Plus checking account customers. Few CD terms are available on the Citizens Bank website. A $50 transaction fee applies for early withdrawals, in addition to the standard early withdrawal penalty. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. deposit Term Offer details Offer detailsCapital One
Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 2.3 Bankrate ScoreCitizens Bank money market overview
The Personal Money Market account earns a low yield. It doesn’t have a minimum opening deposit requirement, but a $10 monthly service fee applies for accounts with balances that fall below $2,500. The Personal Money Market account does offer customer check-writing privileges. It also offers a standalone ATM card and/or it can be linked to a checking account debit card.Pros
The Personal Money Market Account has no minimum opening deposit requirement. Check-writing privileges are offered.Cons
A $2,500 minimum balance is required to avoid the monthly service fee. The monthly service fee is $10 on accounts that don’t meet the requirements to have it waived. 3.6 Bankrate ScoreCitizens Bank checking overview
The One Deposit Checking can be opened with any amount of money, and the $9.99 monthly service fee can be avoided by making at least one deposit into the account each statement cycle.The account comes with a debit card, which can be linked to your smartphone’s digital wallet, and Zelle is available for peer-to-peer transactions. The mobile app receives high marks in the Google Play Store and Apple’s App Store.
Citizens Bank charges $35 per item paid on overdrawn accounts, which is a little above the national average of $33.58, according to Bankrate’s .
Pros
Customers can earn interest on all balances with tiered rates. No minimum is required to open an account.Cons
Interest rates are lower than those offered by other financial institutions. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
Citizens Bank customers have access to 1,150 1,000 branches and 2,900 3,000 ATMs in 11 states. The bank’s highly rated mobile app can be used to send money with Zelle, deposit checks and more. Citizens Bank offers 24/7 phone banking through its “contact centers,” through which customers can verify recent payments, deposits, and withdrawals, check account balances and more. It also offers calculators to help customers manage their budgets.About Citizens Bank
Based in Providence, Rhode Island, Citizens Bank is a full-service national bank that offers a suite of retail, small business and commercial banking products. In July 2021, it agreed to acquire Investors Bancorp, which operates 154 Investors Bank branches in New York, New Jersey and Pennsylvania. The deal is expected to close in the first half of 2022. Those locations are in addition to the 80 branches Citizens Bank agreed to acquire from HSBC on the East Coast and in South Florida in May. The HSBC acquisition is expected to close in February 2022, when HSBC accounts are due to become Citizens accounts. Citizens Bank customers have access to 3,000 ATMs.Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .