CIT Bank, a division of First-Citizens Bank and Trust
Analysis
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Edited by General
CIT Bank is now owned by First-Citizens Bank of North Carolina which is using it as a vehicle to grow its online banking presence nationally. It previously was primarily an equipment leasing company and have a strong online presence dating over a decade.
Advantages
- CIT offers competitive rates on its online savings account and some of its online CDs.
- The bank has no fees and some of its ATM surcharges may be reimbursed (up to $30 per month).
Disadvantages
- The online bank has no branch network and customers in NC may not access account services through First Citizens.
- Not all CD rates are competitive.
Best Rate
Savings Fees
| Fee Type | |
|---|---|
| Non Sufficient Funds | $0.00 |
| Maintenance | $0.00 |
| Out-of-network ATM | $0.00 |
| Excessive Transaction | $0.00 |
| Incoming Wires | $0.00 |
CIT Bank, a division of First-Citizens Bank and Trust Reviews
RTN1949
June 2, 2022 |
I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a higher rate 0.90% for new customers than for someone like me who has been loyal. The higher 20 basis points is $1,000 a year on my account of $250,000 that they prefer to give to someone who will be there for a couple months instead of to me who would (would have) stayed another 14 years. What gives?
Is this review helpful? Yes:5 / No: 1
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