CIT Bank vs Wells Fargo: Which Is Better?

CIT Bank offers accounts for savings and multiple CDs, including a no-penalty CD.

There are no monthly service fees, but both the savings and money market requires a $100 minimum deposit while term CDs require a $1,000 minimum.

Whereas, Wells Fargo is another well known bank with more than 5,400 locations offering 13,000 ATMs nationwide.

They offer a variety of checking account like Teen Checking or Opportunity Checking for those who have financial troubles.

Continue reading below to see a side-by-side comparison between CIT Bank and Wells Fargo, so you can see which one offers the services you need the most.

	CIT Bank	Wells Fargo
Locations	Online-only bank	5,400 retail banking branches coast to coast. (Locator)
ATMs		More than 13,000 ATMs across the country.
Savings	4.5/5	2.5/5
CD		2/5
Checking	4.5/5	4/5
Money Market	5/5
Customer Service	4/5	4/5
Mobile App	4.5/5	4.5/5
Pros	-High yield -No monthly service fees -Low opening deposits	-Nationwide availability – Large ATM network – Mobile app features – 24/7 account monitoring
Cons	-No physical locations -No check writing	– Make minimal interest – Pay a fee for overdraft protection
Bottom Line	CIT Bank is a good online bank that offers a good eChecking account and savings options.	Wells Fargo offer nationwide access to ATMs and branch locations, offering unique features that your bank might not provide.

CIT Bank Promotions

CIT Bank Savings BuilderCIT Bank Money MarketCIT Bank CDCIT Bank No-Penalty CD

With the CIT Bank Savings Builders account: • Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster. • Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate. • FDIC Insured Apply Now at CIT Bank

Learn more about CIT Bank Savings Builder from CIT Bank. Our full list of CIT Bank bonuses here.

With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily. • Earn 1.55% APY on your funds • One of the nation's top rates — several times the national average. • Get up to 6 digital transfers/withdrawals per statement cycle • Save smart and get more for your money • Higher rates than traditional banks • Get 24/7 Account Access • Secure banking features • Open with as little as $100 • FDIC insured Apply Now at CIT Bank

Learn more about CIT Bank Money Market from CIT Bank. Our full list of CIT Bank bonuses here.

• Available online nationwide • Earn up to 4.65% APY • $1,000 minimum to open • Selection of terms to meet your needs • A range of choices. Low minimum deposits. • No fees to open or maintain the account • Available as Custodial • Open a CIT Bank Certificate of Deposit Account today! Apply Now at CIT Bank

Learn more about CIT Bank CD from CIT Bank. Our full list of CIT Bank bonuses here.

With the CIT Bank No-Penalty 11-Month CD: • Earn 4.15% APY on your funds with just a $1,000 minimum deposit. • The perfect balance between a great fixed rate and flexible money access. • Access funds, if needed. No penalty. • No opening or maintenance fees • Shorter 11-month timeframe and a great APY • If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them. Sign Up at CIT Bank

Learn more about CIT Bank No-Penalty CD from CIT Bank. Our full list of CIT Bank bonuses here.

Compare to Other Banks

CIT Bank:

• CIT Bank vs US Bank
• CIT Bank vs Ally Bank
• Ally Bank vs CIT Bank
• Chase vs CIT Bank
• Synchrony Bank vs CIT Bank

Wells Fargo:

• Wells Fargo vs US Bank
• Wells Fargo vs Bank of America
• Chase vs Wells Fargo
• HSBC Bank vs Wells Fargo
• TD Bank vs Wells Fargo
• Huntington Bank vs Wells Fargo
• SunTrust Bank vs Wells Fargo
• Capital One vs Wells Fargo
• BMO Harris Bank vs Wells Fargo
• Citibank vs Wells Fargo
• Bank of America vs Wells Fargo

Bottom Line

Which Bank is Better: CIT Bank or Wells Fargo?

In summary:

• CIT Bank’s money market account is outstanding. They offer high rates without the balance requirements, so this is a good choice if you aren’t able to commit saving a certain amount each month.
• Wells Fargo offers nationwide access to their accounts, if you’re looking for basic banking features their accounts are to go to.

For other banking options, see our list of the best bank account bonuses & savings account offers.

More on CIT Bank:

• What Are CIT Bank’s Hours?
• CIT Bank Routing Number
• How to Open CIT Bank Account
• Why CIT Bank is Trustworthy
• How To Use and Find Your CIT Bank Login

More on Wells Fargo:

• Wells Fargo Hours: What Time Does Wells Fargo Close Today?
• Wells Fargo Routing Number
• How To Find and Use Your Wells Fargo Login

Discover Bank Promotions for March 2023: $200/$150 Savings Bonus, $360 Cashback Debit

Ally Invest Promotions 2023: $100 Bonus – Ends 12/31/23

SoFi Promotions: $10, $25, $50, $100, $275, $300, $5,000 Bonuses For Checking, Savings, Invest, Student Loan, Personal Loan Products

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