Citizens Bank and Trust Company (CB&TC), a traditional bank, offers a large selection of unique account options. To find out if Citizens Bank and Trust Company is right for you, continue reading the review below.
They offer a good amount of both checking and savings accounts with somewhat manageable balance requirements.
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 Money Market Account Options
- 6 Compare Money Market Accounts
- 7 Reasons to Bank with CB&TC
- 8 Reasons Not to Bank with CB&TC
- 9 Citizens Bank and Trust Company Routing Number
- 10 Contact Customer Service
- 11 How Citizens Bank and Trust Company Compares
- 12 Bottom Line
Checking Account Options
Citizens Bank and Trust Company has a variety of checking accounts and several of them earns interest.
This checking account is high in interest bearing so it will require a $500 opening deposit.
This is also a relationship account and has a $20 monthly fee if you fail to maintain a daily balance of $10,000 or more.
You will also receive a free VISA Check Card, checks and bonus rates on CDs.
With a $100 minimum deposit, you can earn interest on this checking account.
To avoid the monthly fee of $10, you will need to keep a daily balance of $500.
You also get all the benefits a regular checking account normally has.
This a senior checking account available to those 55 and older.
You can open this account with a minimum deposit of $100 and start earning interest.
If you keep a daily balance of $500, you can avoid the $7 monthly fee.
With just $100, you can open this account and gain access to all the benefits a regular checking account has.
There is a $5 monthly fee, but you can waive it by maintaining a daily balance of $300.
This free checking account will still require a minimum deposit of $100, but there are no monthly fees nor minimum balance requirements.
You will also receive a Visa Check Card.
Compare Checking Accounts
Savings Account Options
Citizens Bank and Trust Company has a decent variety of savings accounts that have low minimum opening deposits and balance requirements.
With a low opening deposit of $25, you can start earning interest!
There is a low quarterly fee of $5 as well, but if you keep a daily balance of at least $100 you can easily avoid it.
A kid (under 18) savings account that is also interest bearing. You can open it with just $5!
There are also no monthly/quarterly fees nor minimum balance requirements to worry about.
A specific holiday savings account that can be opened with as little as $5. You will automatically start earning interest upon account opening.
However, you cannot close this account early or you will be charged $25.
A Christmas holiday savings account that only requires $3 to open.
Compare Savings Accounts
Open a Discover Online Savings Account for all these features:
• Bonus offer applies for your first Discover Online Savings Account
• Earn $200/$150 Bonus with promo code HMB21 by 12/15/2021
• Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus
• Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus
• Earn high interest rate of 0.40% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
With the American Express® High Yield Savings Account:
• Earn 0.40% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• No monthly fees, no minimum balance.
• 24/7 Account Access
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
Citizens Bank and Trust Company has one money market that earns tiered interest rates.
Advantage Money Market:
- Open this account with $2,500
- Waive the $10 monthly fee by keeping a daily balance of $2,500
- Check writing privileges
- You are allowed up to 6 transfers per statement cycle
- Free Online Banking and Bill Pay
Compare Money Market Accounts
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 0.35% APY balances $100,000 and over
• Earn 0.30% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 0.45% 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
Reasons to Bank with CB&TC
- They offer a large selection of checking accounts and most of them can earn interest.
- They have a good ratio of checking to savings accounts.
- The Citizens Premier Checking account is considered a relationship account, so you can link it to any of the savings account.
- They offer a youth savings account that is interest bearing.
- There is a senior checking account that also earns interest.
- They have two holiday savings account for special occasions.
- Their money market account isn’t too difficult to manage.
- 24-hour banking is available.
- Their website is easily navigable.
- Conduct all your banking online or through the Citizens Bank and Trust Company mobile app.
Reasons Not to Bank with CB&TC
- They are only in Southside Virginia. There are 11 branches in total.
- Lacking a senior savings account.
- Doesn’t provide a senior checking or savings account.
- Some of their balance requirements are a bit on the high side.
- Their monthly fees vary from low to high.
Citizens Bank and Trust Company Routing Number
The routing number for Citizens Bank and Trust Company is 051402233.
Contact Customer Service
Citizens Bank and Trust Company has a 24-hour automated telephone banking line. You can reach them at 1-(800)-436-5899.
How Citizens Bank and Trust Company Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Discover Bank: Discover Bank is also an online nationwide bank that offers bonuses for their checking and savings accounts! You can earn cash back rewards when you open a checking account and generous bonuses for opening a savings one.
- Ally Bank: Ally Bank is an online only bank that offers very similar account options as Discover Bank, but offers pretty high interest rates as well.
If you live anywhere near southern Virginia and want a bank with several interest bearing accounts, then perhaps Citizens Bank and Trust Company has what you’re looking for.
Pretty much all their accounts can earn competitive interest rates aside from their Free Checking account.
They even have two holiday savings accounts for specific occasions if you tend to spend more festivities and need to save to buy more.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If you’re interested in banking with Citizens Bank and Trust Company, apply today! For more options from a variety of banks, see our list of the best bank promotions!