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The benefits explained

  • Large regional bank that offers a range of products: Citizens Bank is the 13th largest bank in the United States with over $185 billion in assets. It serves 11 states in the New England, Mid-Atlantic and Midwest regions. The bank offers a wide range of products for individuals and businesses.
  • Online-only accounts with no monthly fees: The bank also offers online-only savings accounts and CDs with attractive interest rates. Online accounts do not charge any monthly fees.
  • Liquid CD offers guaranteed rates without penalty for early withdrawals: Traditional CDs charge a penalty if you need access to your money before the CD expires. The Citizens Access Liquid CD allows customers to withdraw the entire balance without penalty.

Disadvantages Explained

  • Chequing accounts have monthly fees unless you meet the following conditions: To waive the monthly service fee on a checking account, you must meet certain requirements. Some accounts have modest requirements, while others require combined balances of $25,000 or more.
  • Branches only available in 11 states: Although Citizens Bank has branches in the New England, Mid-Atlantic, and Midwest regions, customers outside of these regions have limited access to its products and services. If you are traveling outside of its footprint, you may need to use another bank’s ATM.
  • The 11 states in which Citizens Bank has branches are Connecticut, Delaware, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont.
  • Limited reimbursement of fees for using another bank’s ATM: When using an ATM from another bank, Citizens Bank charges customers $3 per transaction. If you have a premium checking account, the bank will reimburse other ATM fees up to $10 per statement period.

Who is Citizens Bank for?

Citizens Bank is ideal for customers who live in one of the 11 states where it has branches and ATMs. It is best suited for someone who:

  • Lives in the New England, Mid-Atlantic, or Midwest region
  • Is able to perform the activities required to waive the verification fee
  • Wants preferential interest rates based on banking relationship
  • Would like to open a savings account with no minimum balance requirement

Its online bank, Citizens Access, is a good option for anyone in the United States. Its savings accounts have no monthly service fees but require a minimum opening deposit of $5,000. Citizen access is worth considering for those who:

  • You want competitive interest rates on the savings account and CDs
  • Have at least $5,000 to open an account
  • I don’t want to pay monthly service fees

What does Citizens Bank offer?

As a major regional bank, Citizens Bank offers a wide range of deposit accounts and associated services. It serves customers with approximately 1,000 branches and 3,000 ATMs in the regions where it operates. Additionally, it offers an online savings account through its subsidiary Citizens Access. He offers:

Verify Accounts

Citizens Bank offers three checking accounts, as well as one dedicated to students:

  • A verification of deposits from Citizens Bank
  • Checking Citizens Bank Quests
  • Citizens Bank Wealth Verification
  • Student Verification

Each has a monthly service fee that can be waived by meeting certain requirements. By making one deposit per month, the fee will be waived to the One Deposit checking account. Platinum and Platinum Plus checking accounts earn interest on checking balances and waive many types of bank service fees. Students under the age of 25 automatically have their monthly service fee waived.

Savings accounts

Customers have three savings account options with Citizens Bank. None require a minimum opening balance. Each savings account is designed to be linked to its corresponding checking accounts:

  • One Deposit Savings from Citizens Bank
  • Citizens Bank Platinum Savings
  • Citizens Bank Platinum Plus Savings
  • CollegeSaver

Monthly service fees for single deposit savings accounts are waived with at least one deposit per month. Quest Savings and Wealth Savings have no monthly service fees.

The CollegeSaver Savings Account is for parents of children under 17. For children under 12, if you make monthly deposits every month until your child turns 18, they will receive a $1,000 bonus on their 18th birthday.

Citizens Access also offers an online savings account. It offers competitive interest rates with no monthly fees, but there is a minimum deposit of $5,000 to open an account.

Money market accounts

Citizens Bank offers three money market accounts. All three accounts have no minimum deposit requirements. The three money market options available are:

  • Personal Money Market
  • Money Market Quest
  • Money Market

The Personal Money Market is available to all customers. However, the Quest Money Market and the Wealth Money Market are only available to customers with the corresponding checking accounts.

Personal Money Market requires a minimum daily balance of $2,500 to avoid a $10 monthly service fee. There are no monthly service fees for Quest or Wealth Money Market accounts.


CDs require a minimum balance of $1,000. The terms available are 10, 14 and 25 months. Some of its CDs offer higher interest rates if you also have a premium checking account.

There is a flat fee of $50 plus interest waived for early withdrawals. CDs less than 1 year old lose the greater of 90 days of interest or half of the interest that would have been earned for the remainder of the term. CDs with terms longer than one year forfeit the greater of 180 days interest or half the interest to be earned on the remaining term.

Additional CD options are available from Citizens Access. These CDs require a minimum opening deposit of $5,000 each. Terms vary from one to five years.

Citizens Access also offers an 11-month liquid CD that offers a guaranteed interest rate for the entire term. It allows withdrawals without penalty.

Citizens Bank CD Rates
Standard rate with quest verification with wealth control
10 months 0.03% 0.03% 0.03%
14 months (online only) 0.03% 0.03% 0.03%
25 months 0.05% 0.05% 0.05%
As of August 23, 2022

Citizen Access CD Pricing
Term APY
1 year 2.70%
2 years 2.90%
3 years 3.10%
4 years 3.15%
5 years 3.25%
As of August 23, 2022

Credit card

The bank offers two simple credit cards. One is a cash back credit card and the other is a balance transfer credit card:

  • Cash Back Plus World Mastercard
  • Clear Value Mastercard

The Cash Back Plus World Mastercard offers unlimited 1.8% cash back on every purchase you make. There are no rotating categories to remember and you don’t need to activate the offer. There are no annual fees, no foreign transaction fees and no penalties annual percentage rate of charge (APR) for late payments. There is also an introductory APR of 15 billing cycles for eligible balance transfers.

Those looking for more time to pay off their balance transfer should consider the Clear Value Mastercard. It offers a longer introductory period for balance transfers and also has no annual fee.

Other financial products offered by Citizens Bank

Citizens Bank also offers a wide range of banking and investment services to its customers, including:

Citizen Bank Customer Service

Customer service is available Monday through Friday from 7:00 a.m. to 10:00 p.m. (EST). Live agents are also available Saturday and Sunday from 9 a.m. to 6 p.m. EST at 1-800-922-9999. You can also send a secure message through online banking to receive a response during normal business hours. Additionally, you can access accounts online or through the bank’s mobile app.

Online accounts at Citizens Access have a separate customer service phone number and hours are different. Live customer service is available Monday-Friday 8am-10pm EST, Saturday 9am-3pm EST, and Sunday 10am-3pm EST.

How to do business with Citizens Bank

To open an account with Citizens Bank, you can apply online, by phone or by visiting a branch. Citizens Access online savings accounts and CDs are available on its website.


Citizens Bank and its online-only subsidiary, Citizens Access, offer a wide variety of banking products and services. People who live in the 11 states it serves should consider it a good option. Monthly service fees can be waived with simple requirements, and the bank offers relational pricing for all products. Customers with premium checking accounts enjoy higher interest rates on savings accounts, money market accounts and CDs. In addition, Citizens Bank offers a 0.125% cashback on your mortgage with automatic payment from one of its checking accounts.


Investopedia is dedicated to providing consumers with unbiased and comprehensive bank reviews. We collected over 20 data points from over 80 banks including available products, interest rates, fees and affordability to ensure our content helps users make the right decision for their banking needs. savings and banking.

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