When opening a checking or savings account, what are the features and benefits that you expect the most? While you won’t find the best interest rates, First Citizens Bank has benefits and features that enhance your banking experience.
First Citizens Bank has been around since the 1800s, growing rapidly since its original bank opening. If you’re interested in what First Citizens Bank has to offer, continue reading to learn more!
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 CD Account Options
- 8 Compare CD Accounts
- 9 Reasons to Bank With First Citizens Bank
- 10 Reasons Not To Bank With First Citizens Bank
- 11 First Citizens Bank Routing Number
- 12 Contact Customer Service
- 13 How It Compares
- 14 Bottom Line
Checking Account Options
Each and every First Citizens Bank checking account comes with a free Visa debit card, free online and mobile banking, and access to more than 475 ATMs.
If you hate paying fees and just need the bare minimum, this account is perfect for you. There are absolutely no minimum balances or fees so long as you opt out of paper statements.
If you can maintain a balance of $1,500 in your checking account or you have a direct deposit of at least $250 per month, you will not be charged a service fee on this account.
If you want an interest bearing account, consider opening a premier checking account. However, you’ll need a $5,000 balance across all deposit accounts at First Citizens, direct deposits totaling $4,000 monthly in your Premier Checking, a line of equity of at least $25,000, or a consumer loan of at least $10,000. If you reach any of those requirements, you’ll gain access to higher CD rates and lower rates on equity loans.
With at least a $100 opening deposit and a combined $25,000 deposit balance, you can waive the monthly service fee on this account. Fees can also be waived with direct deposits of at least $6,500 are made to that account, a line of equity amounting to at least $100,000 is reached, or a consumer load of $25,000 is made. You’ll receive free overdraft protection transfers, a free 3″ x 5″ safety deposit box (where available), and free designer checks in addition to benefits from the premier checking account.
With just $50, you’ll be able to open this checking account, but you will need a combined balance in all of your deposit accounts of at least $100,000 to waive the monthly fee. On top of the benefits you receive from the Premier and Prestige Checking accounts, you will also receive tiered interest rates, higher rates on CDs, higher limits on your ATM withdrawals, unlimited non-First Citizens Bank ATM withdrawals, free incoming wire transfers, free stop payments and free external transfers.
Compare Checking Accounts
Savings Account Options
At First Citizens bank, the more money you have, the higher the rates you’ll get. They have a wide variety of savings accounts, ranging from your standard savings account to premier accounts with higher rates.
If you prefer online banking, this account is perfect for you. There is no minimum balance or monthly maintenance fee required for this account. You are restricted to two withdrawals per cycle, though. Any withdrawals beyond that and you will pay a per withdrawal fee.
Fees can be waived by keeping an average balance of $300. If you want to withdraw money at no cost, an average balance of $2,500 must be maintained. If it’s not met, you’ll pay for every withdrawal made after your 2 free withdrawals. The interest is compounded daily on this account and there are no monthly service charges for children ages 17 and under.
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
Money Market Account Options
If you have $500 to open the Money Market Savings account and you plan to maintain at least a $1,000 average balance per day, you’ll be able to earn higher money market interest rates on this account. Up to 6 complimentary withdrawals can be made per month. Afterwards a fee is paid for every withdrawal.
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
CD Account Options
First Citizen’s bank has CDs ranging from 7 days to 60 months. The longer you leave your money, the higher the rate you’ll receive. The CDs don’t have a monthly fee and your money earns tiered interest rates (the more you save, the higher the interest that you earn). You do need at least $500 to open a CD at First Citizens Bank.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.20% APY up to 0.80% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn 0.30% APY on a 12-Month CD Term
• Earn up to 0.50% 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!
Reasons to Bank With First Citizens Bank
- Open a TogetherCard account with your teenager or college-aged kid to help maintain funds. The Together Card is a reloadable Visa Debit Card. Once funds in the account run out, your child can’t use it. This eliminates the risk of overdrafts and teaches financial responsibility. It’s free with the Prestige or Premier checking accounts, but it is available with all other checking accounts for a nominal fee.
- Overdraft Protection. If you’re ever worried about overdraft fees, set up a protection plan that will automatically transfer funds from your savings into your checking. Fees apply for each type of overdraft protection, so make sure you understand the bottom line before enrolling in any type of protection.
- Special Accounts for Military Members. With a monthly direct deposit, the two checking accounts are available for free. If you can maintain an an average daily balance of $300, the savings account can also be free. The accounts come with relationship banking benefits and the savings account earns interest on the balance.
- 24/7 Deposits
- Online/Mobile Banking. Manage your accounts and funds online or through the mobile app anytime, anywhere.
- Receive alerts/texts about unusual spending. This is just a nice little safety feature so that you’re always aware of how your card is being used.
- Create automatic payments to a savings account. This is really useful for reaching financial goals.
- Pay Back Friends or Family Right From Your Phone. Split the bill from dinner or the cost of a gift by using just your email address or phone number. The transferring of funds can take from one to two business days.
- Traveler’s Checks in Foreign Currency. First Citizens Bank will inform on you on the difference between currency when you’re travelling to make sure you don’t lose any money or not bring enough.
- Relationship Interest Rates on CDs. On the Premier or Prestige checking accounts, First Citizens Bank will provide holders of those accounts with higher rates on CDs.
Reasons Not To Bank With First Citizens Bank
- You need high account balances to open a checking account with interest. The accounts with low requirements don’t receive any rates.
- First Citizens Bank isn’t transparent about their interest rates on savings accounts. They don’t provide the information online, which means you either have to call a bank representative or visit the bank in person.
- Low Coverage. Unless you live in one of the 12 states with a physical branch, you’ll have to do your banking online.
First Citizens Bank Routing Number
The main routing number is 051000033. To find find this routing number, you can simply check the bottom left corner of your checks – check to see if this number differs.
Contact Customer Service
Reach First Citizens Bank Customer Service at 1 (888) 323-4732.
In addition, you’re able to fill out an online Customer Service Request, but a response can to take between one and two business days.
How It Compares
- Citizens Bank: Citizens Bank is a Midwest and East Coast bank with branches in 10 different states. Citizens Bank offers a large number of checking and savings account options as well as CDs and IRAs. They also offer a GoalTrack program that helps you track and meet your goals, with bonuses offered in certain situations.
- BB&T Bank: This bank has coverage in only 13 states. Accounts can be opened for all ages – Teenager to Senior. They also have savings accounts that offer high-yield interest rates for those who are in between investments and need a safe place to park their money.
- Bank Of America: Many resort to Bank of America since it’s a household name. However, BoA has a low variety of accounts to choose from unlike First Citizens Bank. If you want more physical locations, BoA is good, but First Citizens Bank may have an account that suits your needs better.
If you are looking to do all of your banking in one local bank, First Citizens Bank does offer many benefits. Although you can’t access your funds nationwide, there are many ways to waive your monthly service fees and maximize the interest earned on your deposit accounts.