Citizens Bank Review 2023
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Citizens is a good option for consumers living in the 14 states where it has branches, located in the New England, Mid-Atlantic and Midwest regions. Those outside of Citizens Bank’s footprint might consider Citizens Access, Citizens Bank’s online division that began offering accounts in July 2018. While yields are generally low, most accounts don’t require a minimum deposit to open.
Highlights
- Highly Rated App
- Large Branch Network
- Low Min Deposit
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Citizens Bank offers a large range of banking services that will appeal to a multitude of customers. From savings and checking accounts to credit cards and home loans, Citizens Bank can be a one-stop shop for customers looking to save and borrow. The bank has a sizable branch presence in the New England, Mid-Atlantic and Midwest regions. While opening a deposit account at Citizens is very easy, savers can easily find better yields elsewhere.
Pros
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Citizens has more than 1,200 branches and approximately 3,300 ATMs.
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Citizens checking accounts have early direct deposit.
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Citizens’ CD offers a competitive yield.
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No fee is charged on overdrafts of $5 or less.
Cons
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ATM fees are waived only with higher status accounts; otherwise, a $3 fee for out-of-network ATM withdrawals applies.
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Yields for money market and savings accounts are low.
Citizens Bank banking products
Citizens Bank savings overview
For customers under age 25 or 65 and older, the account is free of a monthly fee.
The One Deposit Savings account has an APY much lower than the national average; you can easily find higher yields elsewhere. Those looking for higher rates may wish to consider an online bank, like Citizens Access, the online-only division of Citizens Bank.
Pros
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The One Deposit Savings account can be opened with any deposit amount.
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Waiving the monthly maintenance fee is easy.
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There are no limits on withdrawals from savings accounts.
Cons
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Other banks offer much higher APYs.
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There’s a monthly maintenance fee; other banks offer completely free accounts.
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There’s a $3 fee per statement if you opt in for paper statements.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
Citizens Bank customers have access to around 1,200 branches and approximately 3,300 ATMs in 14 states in the New England, Mid-Atlantic and Midwest regions.
The bank’s highly rated mobile app on the Google Play Store and Apple App Store can be used to send money with Zelle, deposit checks, pay bills and more.
Citizens Bank customer service hours are from 7 a.m. to 10 p.m. during the week and 9 a.m. to 6 p.m. on weekends.
About Citizens Bank
Headquartered in Providence, Rhode Island, Citizens Bank is a large, full-service regional bank that offers a suite of retail, small business and commercial banking products, including a wide variety of deposit products for consumers to choose from.
Citizens operates in 14 states where its some 1,200 branches are located, mainly in the New England, Mid-Atlantic and Midwest regions. Customers have fee-free access to approximately 3,300 ATMs scattered throughout the country.
Citizens Bank recently acquired Investors Bancorp and HSBC’s U.S. branches, enlarging its banking and geographical footprint further.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
