At a glance

3.9

Bankrate Score

CDs

Savings

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

Citizens Access is an online bank with no branches that offers savings products. It’s a division of Citizens Bank. Citizens Access generally offers competitive yields on its deposit accounts, but only offers a savings account and a handful of CDs. If you’re looking for a money market or checking account, you’ll need to look elsewhere.

Highlights

High APY
No Monthly Fees

Overall

If you’re looking to park your money in a high-yield account with no fees, Citizens Access may be worth considering. But you’ll need to be comfortable solely banking online as the bank doesn’t have any branches. While the savings account can be opened with just one cent, its CDs require a $5,000 deposit, which is sizable compared to what other banks require.

Pros

Citizens Access offers a competitive savings APY.
Customer service is available by phone seven days a week or by using the chat function on the bank’s website.
The Citizens Access savings account doesn’t have a monthly service fee.

Cons

Citizens Access has no physical branches or ATM access.
The online bank offers a limited selection of products.

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Citizens Access banking products

4.9

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

4.50%

5/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance to earn interest:

$1.00

5/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$0.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

Good

4/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

Citizens Access savings overview

Citizens Access offers a competitive APY on its savings account. And that competitive yield is on all balances.

You only need a penny to open a new Citizens Access Savings account. The online bank doesn’t have any fees, according to its website.

The bank now offers mobile deposit, but you won’t have ATM access with this account.

Pros

Citizens Access offers a competitive APY.
The bank does not charge any monthly service fees.
All balances earn a competitive APY.

Cons

Citizens Access doesn’t provide an ATM card for withdrawals.
Citizens Access doesn’t offer accounts for those under 18 years old.

Rate history for Citizens Access's Savings account

The Citizens Access savings account yield is 4.5% APY. This yield has remained the same over the past year. The rate is lower than the national average yield of 0.56% APY, according to Bankrate’s latest weekly survey of institutions.

Citizens Access

APY

APY last updated between 7/3 and 7/9.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

The Citizens Access savings account yield is 4.5% APY. This yield has remained the same over the past year. The rate is lower than the national average yield of 0.56% APY, according to Bankrate’s latest weekly survey of institutions.

Citizens Access

APY

APY last updated between 7/3 and 7/9.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

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Citizens Access CD overview

Citizens Access offers five different CD terms. You’ll need a relatively steep $5,000 deposit to open a CD at Citizens Access. The CD terms at Citizens Access range from one year to five years. So you might want to consider the bank’s savings accounts for shorter-term goals, since the bank doesn’t offer CD terms of less than a year. That noted, the one-year CD earns a highly competitive yield.

Citizens Access CDs have the following penalties:

One-year CD: 90 days of interest, based on the balance of the CD.
Two-year through five-year CDs: 180 days of interest, based on the balance of the CD.

Pros

Citizens Access pays a competitive yield on some of its CDs.
Citizens Access offers most terms that people would need.

Cons

The minimum deposit is higher than what’s offered by most other online banks.
Higher yields are available elsewhere on longer terms.
Citizens Access doesn’t offer short-term CDs (maturities less than a year).

Rate history for Citizens Access's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Citizens Access

APY

APY last updated between 7/3 and 7/9.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Citizens Access

APY

APY last updated between 7/3 and 7/9.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

Compare more: Bankrate's best savings account offers

Bank fees

Fee		Charged
Overdraft fee		None
Non-sufficient funds fee		None
Account maintenance fees		None
Out-of-network ATM fee		N/A
Excessive transaction fee		None

Find out: Tips to avoid common bank fees

Customer experience

Customer service

Long support hours. Citizens Access customer service representatives are available to answer questions about CDs and savings accounts seven days a week: 6 a.m. to midnight weekdays; 9 a.m. to 5 p.m., Saturday; and 10 a.m. to 5 p.m., Sunday. (All times are Eastern.) The bank also offers a chat option.

Support wait times. Though there are many ways to connect, customer service isn’t always easy to get in contact with, according to a Bankrate staff member. There isn’t a way to contact support through the app, and when making a call, there’s always a wait time to get in touch with a representative. Even then, sometimes you get transferred to another department, making that wait even longer.

Digital experience

Highly rated mobile app. Citizens Access’s mobile app earns top marks on both the Apple App and Google Play stores. Citizens Access customers can use the mobile app to check account balances, move money and make mobile deposits. That noted, the app is missing many digital features that come with more advanced mobile banking apps, according to a Bankrate staff member who has a Citizens Access account. The app doesn’t have a virtual assistant or budgeting tools and you can’t dispute transactions or open new accounts through the app.

Bankrate staff insights

“You can get a very competitive savings rate with Citizens Access, but shouldn’t expect much more than a place to store and grow your money,” said a Bankrate staff member who uses the account personally. “One of the main reasons I opened the Citizens Access savings account is because of its competitive rate. Customer service, on the other hand, isn’t one of Citizens Access’s strengths — getting in touch with a customer service representative can be an unnecessary hassle.”

Feature

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The above images were last updated on April 26, 2024.

About Citizens Access

Citizens Access is an online-only bank that offers a competitive yield on its savings account and charges no monthly fee. Its products, which also include CDs, are available nationwide. Citizens Access, a division of Citizens Bank, made its debut in July 2018.

How Citizens Access compares to other banks

Compare different account types offered by Citizens Access. Annual percentage yields (APYs) shown were updated between July 3, 2024 and July 9, 2024.

Selected bank Citizens Access savings account Member FDIC Bankrate score Rating: 4.9 stars out of 5 4.9 Bankrate Savings rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score.	Most comparable Synchrony Bank savings account Member FDIC Bankrate score Rating: 5 stars out of 5 5.0 Bankrate Savings rating = 5.0/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between July 3, 2024 and July 9, 2024.
4.50%	4.75%
Minimum balance for APY
$1.00	$1.00
Estimated earnings Interest earned calculation based on a $25,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
$1,125	$1,188

Citizens Access offers a high-yield savings account with a minimum opening deposit of just one cent. This online bank doesn’t charge monthly service fees and offers a highly rated mobile app.	You’ll earn a competitive yield and can access your money at an ATM with the Synchrony Bank High Yield Savings Account. You’ll also have $5 worth of domestic ATM fees reimbursed per month and you won’t be charged a monthly service fee.

Citizens Access’ savings account earns a competitive yield. The account charges no monthly fee and requires just a penny to open.	You can get up to $5 worth of ATM fees reimbursed with this account. You’ll earn a competitive yield with Synchrony’s savings account. There are no monthly service fees.	N/A
ATM access to this account is not provided. As an online-only bank, Citizens Access may not be the best choice for those who prefer branch access.	Some banks pay a higher yield on their savings accounts. All tiers have the same APY, so customers are not rewarded for depositing more money	N/A

APY offering: 4.50% 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. Minimum balance to earn interest: $1.00 5/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 5/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $0.00 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: Good 4/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY offering: 4.75% 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. Minimum balance to earn interest: $1.00 5/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 5/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $0.00 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: Great 5/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. The lowest deposit amount an account must have before it can earn interest. A monthly charge a financial institution deducts from an account if certain requirements are not met. The lowest balance an account must maintain in order to avoid a fee. A procedure that allows an individual or organization to access and manage the funds of another account holder. Bankrate does not currently track additional product details for this bank.

Selected bank Citizens Access CD Member FDIC Bankrate score Rating: 4.2 stars out of 5 4.2 Bankrate CD rating = 4.2/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score.	Most comparable CIT Bank CD Member FDIC Bankrate score Rating: 4.3 stars out of 5 4.3 Bankrate CD rating = 4.3/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between July 3, 2024 and July 9, 2024.
5.00%	0.30%
Minimum deposit
$5,000.00	$1,000.00
Term
1 yr	1 yr

Citizens offers competitive yields on its CDs. But savers will need at least $5,000 to open one at this online bank.	CIT Bank’s 11-month no-penalty CD offers a yield similar to some high-yield savings accounts and some one-year CDs. But unlike the latter, you can withdraw your money from this no-penalty CD, at least seven days after you open it, without incurring a penalty.

Citizens CDs come with competitive yields. Monthly interest payments can be cashed out or reinvested.	This no-penalty CD pays a yield that’s near what top regular one-year CDs – with a penalty – are offering. You won’t pay a penalty with this CD if you need to make an early withdrawal – after having the CD for at least seven days.	N/A
You’ll need at least $5,000 to open a Citizens CD. Citizens no longer offers no-penalty CDs.	The minimum opening deposit requirement of $1,000 is higher than some online banks. You can get higher yields on savings accounts. And those savings accounts don’t have early withdrawal penalties either.	N/A

APY offering: 5.00% - 1 yr 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $5,000.00 3/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 1 yr - 5 yrs 3/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Good 4/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: Yes 5/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: No 0/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY offering: 0.30% - 1 yr 1/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $1,000.00 4/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 6 mos - 5 yrs 4/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Great 5/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: Yes 5/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: No 0/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. The minimum deposit amount a financial institution requires in order to open a CD. A designated amount of time that funds must be held within a CD. A penalty incurred when funds have been withdrawn from a CD before its maturity date. A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. An IRA account which consists of CDs that typically earns fixed interest over a specified period of time. Bankrate does not currently track additional product details for this bank.

Citizens Access vs. CIT Bank

Citizens Access and CIT Bank are both divisions of First Citizens Bank.

While Citizens Access only offers a savings account and CDs, CIT Bank offers two savings accounts, a money market account, and a checking account as well as CDs.

Citizens Access only requires a penny to open a savings account. Meanwhile, you’ll need at least $100 to open a CIT Bank savings account.

At Citizens Access, it takes at least $5,000 to open a CD. But at CIT Bank, you only need $1,000.

CIT Bank’s checking account is the main offering that differentiates it from Citizens Access.

Learn more: The best banks of 2024

Citizens Access FAQs

Citizens Access is a division of Citizens Bank – a bank that’s insured by the Federal Deposit Insurance Corp. (FDIC) and has a history dating back to 1828.
Citizens Access is the online division of Citizens Bank, which has its main office in Providence, Rhode Island. Since Citizens Access is a trade name of Citizens Bank, if you bank at both, you should ensure that your total funds between the two don’t exceed the FDIC insurance limit.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Citizens Access APY APY last updated between 7/3 and 7/9. APY last updated between 7/3 and 7/9	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/02/2024	4.50%	0.57%
05/07/2024	4.50%	0.59%
04/02/2024	4.50%	0.58%
03/05/2024	4.50%	0.57%
01/02/2024	4.50%	0.58%
12/05/2023	4.50%	0.57%
11/07/2023	4.50%	0.60%
10/03/2023	4.50%	0.58%
09/05/2023	4.50%	0.57%
08/01/2023	4.50%	0.54%
07/10/2023	4.50%	0.53%

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Citizens Access APY APY last updated between 7/3 and 7/9. APY last updated between 7/3 and 7/9	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/02/2024	3.45%	1.41%
06/04/2024	3.45%	1.43%
04/02/2024	3.45%	1.42%
03/12/2024	3.45%	1.43%
02/06/2024	3.45%	1.42%
12/05/2023	3.45%	1.43%
11/07/2023	3.45%	1.45%
10/03/2023	3.45%	1.46%
09/05/2023	3.45%	1.43%
08/01/2023	3.45%	1.38%
07/10/2023	3.45%	1.35%

Citizens Access Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about Citizens Access

Citizens Access banking products

Citizens Access savings overview

Pros

Cons

Rate history for Citizens Access's Savings account

Citizens Access CD overview

Pros

Cons

Rate history for Citizens Access's CD accounts

Bank fees

Customer experience

Customer service

Digital experience

Bankrate staff insights

About Citizens Access

How Citizens Access compares to other banks

Citizens Access vs. CIT Bank

Citizens Access FAQs

Is Citizens Access bank legitimate?

Is Citizens Access owned by Citizens Bank?

Review methodology

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