The online part of First Citizens Bank & Trust Company is called CIT Bank. You should be used to doing all of your shopping online since it's a fully online bank. Because the bank doesn't have many branches, it can offer reasonable interest rates on some CDs and savings accounts.

 

However, not every CIT Bank offering is the same. You may need a higher minimum amount to get the best rates, and some of its longer-term CDs aren't worth the time you'll spend on them.

 

Who can use CIT Bank?

You should look into CIT Bank if you want to avoid fees, get a good rate on your savings or checking account, and feel at ease with doing everything online. You can also use the bank's CDs, but only if you only need a short-term place to keep your money. However, CIT Bank doesn't give a good return on longer-term CDs (any account with a term of two years or more).

 

Banking Experience

There aren't many good reviews of CIT Bank. On ConsumerAffairs, it got one star out of five stars, and on Trustpilot, it got 2.2 stars out of five. Transfers can take days to clear, and people have to wait a long time to talk to customer service. It's also possible for the bank's Android app to have bugs, which can be very annoying if you only do your banking online.

 

Fees for overdrafts

You don't have to pay bank fees at CIT Bank.

 

Customers services

You can send a private message through your online or mobile banking to get in touch with CIT Bank customer service at any time. You can call 855-462-2652 during the following times to talk to a customer service rep:

 

Monday through Friday, 9 a.m. to 9 p.m. ET

Saturday, 10 a.m. to 6 p.m. ET

Sunday: Not open

People trust CIT Bank as a safe online bank, and its savings and checking accounts offer great rates and extras that make them stand out. It also doesn't charge any fees and has a low minimum amount. Before you open an account and put your hard-earned cash in it, you should find out "Is CIT a real, trustworthy bank or a scam?" The FDIC backs up CIT Bank, so it's safe to use.

Is CIT Bank FDIC insured?

Yes, CIT bank is real and is backed by the FDIC. Personal and business accounts at CIT Bank can get up to $250,000 in FDIC insurance, just like accounts at other legitimate government-insured banks. The FDIC certificate number for it is 58978. First Citizens Bank (FDIC Cert #11063), which is based in Raleigh, North Carolina, is here to help.

 

Many people also like the real CIT Bank Platinum Savings account that the bank offers. The rate is good for balances of $5,000 or more, and you only need to put down $100 to start the account.

 

Who is the owner of CIT Bank?

First Citizens Bank now owns CIT Bank after the January 4, 2022 merger. With over 125 years of history, the parent bank is one of the 20 biggest banks in the United States based on assets. It is FDIC-insured.

 

The accounts that can only be accessed online will still have the CIT Bank name, but the signs outside of the branches now say "First Citizens Bank."

 

Is the CIT Bank trustworthy?

Without a doubt, CIT Bank is a trustworthy FDIC-insured bank that only provides online banking and certificates of deposit (CDs). A web-based account must be made. You can also plan transfers ahead of time using the website or mobile app.

 

Customers won't be able to go to a neighborhood branch, but there are no account fees. In addition, most accounts only need an initial payment of $100. Other than that, these accounts might have more benefits and better interest rates than regular bank accounts.

 

The easiest way to check your CIT Bank account balance is to link a checking or savings account and pay or withdraw money through that account. However, the service can also mail checks or send wire transfers. You can also send payments through the mail instead of online or wire transfers.

 

Can I trust CIT Bank?

In general, you can believe and rely on CIT Bank. You can trust CIT Bank to keep your money safe until you want to take it out.

 

Because of the following, you can trust CIT Bank:
- There are no fees to start an account or use the service.
- It has a lot of good reviews from customers.
- Interest payments have been checked, and withdrawals can be made quickly.
- The FDIC backs it up.

 

Not every bank is risk-free, though. Before opening an account with a bank, you should look at its image. You might also have accounts at more than one bank in case one site goes down or if you need to move money around to get the best interest rate.

 

Is the CIT Bank Suitable for saving money?

Yes, CIT Bank is real. They have one of the best rates on savings accounts and don't charge any service fees. You will only need to put down a small amount as a starting deposit. You may need to make other ongoing deposits or keep the amount high to get the best rate for that account.

 

So, think about CIT Bank Platinum Savings. The rate is good for balances of $5,000 or more; you only need to put down $100 to start the account.

 

Other online savings accounts might be a better choice if you want more information. This depends on what kind of banking you need or if you can't make the minimum investment.

 

To sum up, CIT Bank is a secure, real, and reliable bank that offers a range of high-yield savings accounts with low rates and no fees. It also pays up to $30 a month in non-network ABM fees and gets interested on its eChecking account. Your accounts are FDIC-insured, which is the most important thing. One of the biggest banks in the country, which has been around for more than 125 years, owns CIT Bank.

 

This review of CIT Bank is mostly about the personal banking choices they offer. These are the goods that CIT Bank offers right now:

- An 11-month CD from CIT Bank with no fees
- First Class High Yield Savings Account
- Certificates of Deposit (CD) from CIT Bank
- The money market account at CIT Bank
- High-Yield Savings Account from CIT Bank
- Certificates of Deposit (CD) from CIT Bank
- The Standard Platinum Savings Account at CIT Bank

 

You can only open these accounts online, but it's easy to put money in them by using web transfers or mobile deposits. You only need $100 into the checking and savings accounts to open them. You need at least $1,000 to open most new Certificates of Deposits (CDs) at CIT Bank. The FDIC will protect the first $250,000 you put into CIT Bank.

 

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