Citizens Alliance Bank offers a good selection of account options. To find out if Citizens Alliance Bank is right for you, continue reading the review below.
They offer accounts that might entice those who earn high incomes or regularly keeps a pretty high balance.
There are some standard accounts of course, but if you want tiered interest rates, it’s best to invest in their premium checking and savings accounts.
Checking Account Options
Citizens Alliance Bank has a variety of checking accounts and several of them earns interest. For additional information concerning benefits, you may have to call your local CAB bank or visit them in person.
This is a standard checking account and will require a $50 opening deposit.
Unfortunately, this account isn’t interest bearing.
This is an interest bearing checking account, but you will need a minimum opening deposit of $1,500.
There is a monthly fee of $7.50, but you can waive it by maintaining a daily balance of $1,500.
This a premium checking account that earns tiered interest rates. However, you will need a hefty minimum opening deposit of $25,000.
You also have to maintain a daily balance of $25,000 to avoid the $15 monthly fee.
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Savings Account Options
Citizens Alliance Bank has a decent variety of savings accounts that all earn tiered interest rates. Two of their savings accounts are more like money market accounts.
For more information such as benefits, you will have to contact CAB.
This standard savings account earns tiered interest rates, and you will need a minimum opening deposit of $50.
There is a quarterly fee of $7.50, but you can waive it by just keeping a daily balance of $50.
Since this savings account earns money market interest rates, you will need a minimum opening deposit of $5,000.
Having a daily balance of $5,000 also can waive the $10 monthly fee.
The interest rates earned are tiered or variable.
This premier savings account will need a big opening deposit of $25,000.
Keeping a daily balance of $25,000 also waives the $15 monthly fee.
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 With the American Express® High Yield Savings Account: • Earn 3.90% APY as of 11/29/24 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. • 24/7 Account Access |
 • Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account • No minimum balance requirements • Free ATM card upon request • $250 minimum opening deposit • Free Incoming Wires |
Reasons to Bank with Citizens Alliance Bank
- There is a good ratio of checking to savings accounts.
- They have a savings accounts that earn money market interest rates.
- They offer a Health Savings Account (on website).
- Their accounts would suit high incomer earners really well.
- Their website is easily navigable.
- Conduct all your banking online or through the Citizens Alliance Bank mobile app.
Reasons Not to Bank with Citizens Alliance Bank
- They are only available in Minnesota and Montana. There are 10 branches in total.
- Lacking a youth and seniors checking or savings account.
- Interest bearing checking accounts require a pretty high balance requirements.
- Their accounts are inconsistent and have a huge leap when it comes to opening deposits.
- The monthly fees vary from low to high.
- Premium accounts are mostly for high spenders and those who typically have larger balances.
- You will have to call them to find out additional information about their accounts.
Citizens Alliance Bank Routing Number
The routing number for Citizens Alliance Bank is 091911315.
Contact Customer Service
You can reach Citizens Alliance Bank at (844)772-4258. The hours of service vary depending on each state.
You can visit their website for additional information about location and hours.
How Citizens Alliance Bank 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.
Bottom Line
If you are someone who tends to keep higher balances and want a simple interest bearing checking or savings account, then Citizens Alliance Bank can provide that.
They have standard accounts that don’t require too much of an opening deposit, but then there are premium accounts that seem to be directly advertised to those who earn a high income and constantly stack their earnings.
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 Alliance Bank, apply today! For more options from a variety of banks, see our list of the best bank promotions!