You’ll receive a complimentary debit card with EMV chip technology when you open a new checking account. Interest is earned on CIT Bank eChecking accounts: balances of $25,000 or more earn 0.25% APY and balances under $25,000 earn 0.10% APY. Checking accounts can be opened with a $100 minimum opening deposit. CIT customers can access checking accounts 24 hours a day online or through the mobile app. Having a checking option allows CIT customers access to a full array of banking products now. The CIT Bank eChecking account was added to the CIT Bank product menu in late 2019. Account details and annual percentage yields (APYs) are accurate as of June 16, 2023. Let’s take a closer look at what CIT Bank has to offer consumers and how it compares to other banking options.
This review focuses on the personal banking side of CIT Bank, but the bank also offers business and commercial banking solutions. Customers can access their accounts from almost anywhere, 24 hours a day.ĬIT Bank, N.A., which is part of First Citizens BancShares, Inc., focuses on offering some of the most competitive interest rates on the market. CIT Bank is great for people who like the convenience of using their phone or computer to make banking transactions. While they don’t have local branches you can walk into, they do offer easy-to-open accounts with low opening deposit requirements. If you’re sick of paying high fees for banking services, CIT Bank aims to be your go-to online banking solution. Luckily, the bank doesn’t charge ATM fees and even provides up to $30 per month in reimbursements for fees charged by ATM operators. As an online bank, CIT Bank has no physical branches for local banking services. The online-only bank was acquired by First Citizens BancShares, Inc. CIT Bank’s history dates back to its founding in St.
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