Citizens Bank Review 2022
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
At a glance
About Bankrate ScoreHover for more
Citizens is a good option for consumers living in the 11 states where it has branches. Those outside of Citizens Bank’s footprint might consider Citizens Access, Citizens Bank’s online division that began offering accounts in July 2018.
- 24/7 Customer Service
Citizens Bank could be a good fit for those looking for a bank in the 11 states in the Eastern U.S. where it has branches.
No fee is charged on overdrafts of $5 or less.
Citizens has about 1,000 branches and 2,900 ATMs.
ATM fees are waived only with higher status accounts; otherwise, a $3 fee for out-of-network ATM withdrawals applies.
Yields for savers are low.
Citizens Bank bank products
Citizens Bank savings overview
The One Deposit Savings account has an APY below the national average. Those looking for higher rates may wish to consider an online bank, like Citizens Access, the online-only division of Citizens Bank.
Citizens Bank offers a unique savings account called the CollegeSaver, which gives kids a $1,000 bonus when they turn 18. To qualify, an account must be opened before the child’s 12th birthday, and a minimum amount is required to be saved each month: $25 if the child is under 6 years old at account opening, and $50 if the child is 6 or older but under 12 years old at account opening.
The One Deposit Savings account can be opened with any deposit amount.
The $200 minimum balance requirement is low compared with other brick-and-mortar banks.
There is no minimum balance to open the Citizens Bank Platinum Plus Savings account.
Other banks offer much higher APYs.
With the CollegeSaver, customers are permitted to miss only one monthly deposit each year to still qualify for the $1,000 bonus.
CollegeSaver accounts earn below the national average APY on all balances.
Citizens Bank customers have access to 1,150 1,000 branches and 2,900 3,000 ATMs in 11 states.
The bank’s highly rated mobile app can be used to send money with Zelle, deposit checks and more. Citizens Bank offers 24/7 phone banking through its “contact centers,” through which customers can verify recent payments, deposits, and withdrawals, check account balances and more. It also offers calculators to help customers manage their budgets.
About Citizens Bank
Based in Providence, Rhode Island, Citizens Bank is a full-service national bank that offers a suite of retail, small business and commercial banking products.
In July 2021, it agreed to acquire Investors Bancorp, which operates 154 Investors Bank branches in New York, New Jersey and Pennsylvania. The deal is expected to close in the first half of 2022.
Those locations are in addition to the 80 branches Citizens Bank agreed to acquire from HSBC on the East Coast and in South Florida in May. The HSBC acquisition is expected to close in February 2022, when HSBC accounts are due to become Citizens accounts.
Citizens Bank customers have access to 3,000 ATMs.
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.