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First Citizens Bank Review: Checking, CDs and Savings

Review of First Citizens Bank's free checking, high-yield CD and savings account.

First Citizens Bank has established itself as a trusted name in the industry.

With over 120 years of experience and a wide range of banking products that include free checking, high-yield certificate of deposits (CDs), and an online savings account, First Citizens Bank stands out from the crowd.

Best for: Customers that enjoy online as well as in-person banking, want earn high interest on savings and don't mind enrolling in paperless statements to avoid the monthly fee.

Branch locations: AZ, CA, CO, FL, GA, KS, MD, MO, NM, NC, OK, OR, SC, TN, TX, VA, WA, WV, and WI.

First Citizens Bank Free Checking

First Citizens Bank offers a free checking account if you enroll in paperless statements, making it an attractive choice for those looking to avoid unnecessary fees. It's a competitive account with many features that include:

  • Low minimum opening deposit of $50
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Debit Card
  • Automatic Transfers
  • Checking Writing
  • Member FDIC

First Citizens Bank checking account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

First Citizens Bank 11-Month CD

When it comes to earning high interest savings, First Citizens Bank offers a competitive interest rate of 5.00% APY on its 11-Month certificate of deposit (CD). The minimum opening deposit is $5,000, up to a maximum of $250,000. This CD is only available online.

First Citizens Savings Account

The First Citizens Bank savings account earns a competitive rate when compared to the big banks but does not come close to online high-yield savings accounts. You won't pay a monthly fee to keep your online savings account open and the minimum opening deposit is only $50.

Pros and cons of banking with First Citizens Bank

Like any financial institution, First Citizens Bank has its strengths and weaknesses. Understanding these pros and cons can help you make an informed decision about whether to choose First Citizens Bank as your primary banking partner.

One of the major advantages of banking with First Citizens Bank is their exceptional customer service. With a long-standing commitment to putting customers first, First Citizens Bank has built a reputation for being responsive, knowledgeable, and supportive. Whether you have a question about your account or need assistance with a financial decision, their dedicated customer support team is always there to help.

In terms of digital banking capabilities, First Citizens Bank offers a user-friendly online and mobile banking platform. With features such as mobile check deposit, bill pay, and account alerts, managing your finances on the go has never been easier. Their online banking platform is intuitive and easy to navigate, making it simple for customers to access their accounts and perform transactions.

However, one area where First Citizens Bank falls short is their limited branch network. While they do have branches in select states, their physical presence may not be as extensive as some other banks. This could be a disadvantage for customers who prefer face-to-face interactions or need access to in-person banking services.

First Citizens Bank customer reviews and ratings

Customer reviews and ratings can provide valuable insights into the quality of service and overall customer satisfaction of a bank. When it comes to First Citizens Bank, the general consensus is positive. Many customers praise the bank's personalized approach, knowledgeable staff, and convenient digital banking options.

Customers appreciate the ease of use of First Citizens Bank's online and mobile banking platforms. They find the interfaces intuitive and appreciate the range of features available, such as the ability to view account balances, transfer funds, and pay bills with just a few clicks. The bank's commitment to security is also highly regarded, with customers feeling confident in the safety of their online transactions.

Another key aspect of First Citizens Bank's digital banking capabilities is their online banking platform. With features such as account alerts, e-statements, and the ability to schedule recurring payments, customers can easily stay on top of their finances. The online platform also allows for seamless integration with popular personal finance management tools, making it easier to track spending and set financial goals.

First Citizens Bank's online and mobile banking features

First Citizens Bank's online and mobile banking platforms offer a range of features that make managing finances convenient and efficient. Whether you're at home or on the go, you can access your accounts and perform various transactions with ease, like the ability to quickly deposit checks remotely and pay bills electronically.

First Citizens Bank's fees and charges

When considering a bank, it's important to take into account the fees and charges associated with their products and services. First Citizens Bank offers a transparent fee structure, allowing customers to easily understand and manage their banking costs.

Tips for getting the most out of your First Citizens Bank account

To maximize the benefits of banking with First Citizens Bank, here are some tips to consider:

1. Take advantage of their digital banking capabilities: Utilize the online and mobile banking platforms to conveniently manage your accounts, make transactions, and stay informed about your finances.

2. Set up account alerts: Stay on top of your finances by setting up account alerts for things like low balances, large transactions, or bill due dates. This will help you avoid fees and keep your financial goals on track.

3. Explore additional services: First Citizens Bank offers a range of additional services, such as wealth management and insurance solutions. Take the time to explore these offerings and see if they align with your financial needs and goals.

Final takeaway

If you're looking for a bank that combines a long-standing reputation with modern digital banking capabilities, First Citizens Bank could be the right choice for you.

While their limited branch network may be a downside for some customers, their user-friendly online and mobile banking platforms make up for it by providing convenient access to accounts and a range of features to simplify financial management.

Best online savings rates

The national savings rate is 0.46% APY. This online bank pays way more.

CIT Bank

Platinum Savings
5.05% APY
Minimum $5,000 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured

CIT Bank

Savings Connect
4.65% APY
Minimum $100 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured

CIT Bank

6-Month CD
5.00% APY
Minimum $1,000 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured
Disclaimer: Our goal is to provide the most relevant and current information. However, the information is for informational purposes only and is not intended to be personal financial advice.

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