First Citizens Bank Review 2023
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At a glance

CDs
Checking
Savings
MMA
About Bankrate Score
Overview
First Citizens Bank accounts are available to those who live within its 21-state branch footprint. It could be a good choice for those looking for a full-service bank with options such as a free checking account. Those seeking competitive rates on savings accounts will need to look elsewhere, however.
Highlights
- Free Checking
- Highly Rated App
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 = 3.5/5
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.

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 = 4.9/5
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
First Citizens Bank originated more than 120 years ago and maintains branches in 21 states. The bank offers a free checking account as well as two that pay interest. While the minimum deposit required to open some accounts is low, higher yields can be found elsewhere on savings accounts, money market accounts and CDs
UPDATED: It was announced on Sunday, March 26, that First Citizens Bank will acquire much of Silicon Valley Bridge Bank. All 17 former SVB branches have been converted to First Citizens Bank branches.
Pros
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A free checking account is offered, as well as two checking accounts that earn interest and provide other perks.
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CDs come in a wide range of terms, and specialty CDs are offered.
Cons
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Yields are lackluster on CDs, as well as savings and money market accounts.
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Savings account holders are only allowed two free withdrawals or transfers each month.
First Citizens banking products
First Citizens savings overview
The account can be linked to a First Citizens checking account for overdraft protection purposes.
Pros
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No monthly service fees
Cons
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The APY is very low.
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Only two free withdrawals or transfers are allowed per month, and a $3 fee is charged for each transaction beyond that.
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 = 3.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
First Citizens is a family-owned bank that’s been in operation for more than 120 years. The regional bank maintains more than 500 branches in 21 states. Accounts are available to those who live in the bank’s branch footprint.
Customer service representatives can be reached by phone Monday through Friday from 8 a.m. to 9 p.m. ET, as well as Saturday and Sunday from 8 a.m. to 8 p.m. ET.
The bank provides access to peer-to-peer payment service Zelle, and customers can link debit cards to mobile wallets such as Apple Pay and Samsung Pay.
The First Citizens digital banking app is highly rated by both Android and Apple users. The bank’s Manage My Money tool allows you to see your full financial picture by viewing all of your bank accounts, investment accounts, credit cards and mortgage accounts in one place. You can categorize expenses to see where your money is going across all accounts.
About First Citizens
First Citizens Bank is a family-owned institution that has been in operation for more than a century. The bank is based in Raleigh, North Carolina, and maintains more than 500 branches in 21 states.
First Citizens accounts can be opened either in person or online, but they’re only available to those who live in the states where the bank has branches.
The regional bank works with organizations that support young people with cancer, including Teen Cancer America and Prisma Health Cancer Institute in Greenville, South Carolina.
In January 2023, First Citizens announced that its merger with CIT Bank was complete. The combined company operates under the First Citizens Bank name. The company stated it plans conversions for CIT Bank to First Citizens’ operations and systems in the coming months.
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.