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Citizens Trust Bank Review

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Citizens Trust Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Citizens Trust Bank first started operating in 1921 and is headquartered in Atlanta, Georgia. Citizens Trust Bank owns assets of $429 million as well as deposits totaling $373 million, making it a medium-size bank. Citizens Trust Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 3.5 stars out of 5, Citizens Trust Bank should be more closely analyzed to see if its services fit your needs. Citizens Trust Bank offers an array banking products, including savings accounts, checking accounts, money market accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking product has a monthly fee of $10.00, although banks sometimes have requirements that allow you to waive the fee. Institutions that offer no-fee checking and a high savings APY are the best option for returning the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.05%, Citizens Trust Bank ranks poorly in comparison to the national average. Its CD rates are 0.40% and 1.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.10%. Given Citizens Trust Bank's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Citizens Trust Bank's Savings Rates Compare

Citizens Trust Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

2.5
SmartAsset Average: 4.4

Citizens Trust Bank charges customers high fees compared to the national average. Citizens Trust Bank's checking account has a monthly fee of $10.00, ranking it fair for anyone looking for a hassle-free account. For those who will need cash in a pinch, Citizens Trust Bank is fair because it has an out-of-network ATM fee of $2.00, which is reasonable in comparison to the national average. Citizens Trust Bank unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll have to find a Citizens Trust Bank ATM or accept the cost of withdrawal.

Monthly Fee $10.00 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.7
SmartAsset Average: 3.7

Citizens Trust Bank is a brick-and-mortar bank, with nine total branches in Alabama and Georgia. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday and 8:30 a.m. to 6:00 p.m. ET. Citizens Trust Bank receives moderate marks from customers for its online presence. With 72 customer reviews across both iOS and Android platforms, the Citizens Trust Bank mobile app has an overall rating of 3.5 out of 5 (compared to the national average of 3.8). Citizens Trust Bank's mobile app allows you to control your accounts by monitoring current statements, sending and receiving funds as well as accessing support representatives. Citizens Trust Bank receives an exceptional consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Citizens Trust Bank is a medium-size bank and handles $429 million in assets and deposits totaling $373 million. Its Texas Ratio is 6.11%, suggesting that Citizens Trust Bank is in good financial health and unlikely to fail. Additionally, Citizens Trust Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.11%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Citizens Trust Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.03% APY $2000
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.70% APY
  • 60 Month: 1.00% APY
$500 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

Citizens Trust Bank has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Citizens Trust Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Citizens Trust Bank's CD rates are fair as compared against the national average.

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Find a Citizens Trust Bank Near Me

Citizens Trust Bank has nine physical branches across the U.S.

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