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Citywide Banks Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Citywide Banks Savings
0.10% APY

Overview

Our Rating: 4.2/5 How we calculated this rating

Established in 2006, Citywide Banks has $2 billion in assets along with $2 billion in deposits, classifying the institution as a large bank. Citywide Banks, whose headquarters are in Denver, Colorado, lacks premium access to customer service, with no options of live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. On the whole, Citywide Banks is a great bank that you should seriously consider with a rating of 4.2 stars out of 5 from the SmartAsset team. 

Citywide Banks offers a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Citywide Banks offers an option without a maintenance or monthly fee. Why keep checking and savings accounts with one bank? Quick transferring of funds between both accounts translates to better interest rates in your savings account with the ease of spending from your checking.

Service Quality

Citywide Banks is a brick-and-mortar bank, with 28 total bank locations in Colorado. With mobile and web apps, Citywide Banks makes mobile banking easy, even on the go.  

Citywide Banks gets poor marks from customers for its mobile platform: with 42 customer reviews across both iOS and Android platforms, the Citywide Banks mobile app is scored at 3.0 out of 5 (compared to the national average of 3.8). You can utilize Citywide Banks's mobile app to control your funds by monitoring monthly statements, transferring funds and reaching support representatives. Citywide Banks receives an outstanding consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.10% APY $100 Compare Offers
Certificates of Deposit
  • 12 Month: 0.85% APY
  • 24 Month: 1.15% APY
  • 36 Month: 1.40% APY
  • 48 Month: 1.60% APY
  • 60 Month: 1.80% APY
$1,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.15% APY
  • 25K tier: 0.35% APY
  • $10,000
  • $25,000
Compare Offers
Checking Accounts 0.45% APY $50,000 Compare Offers

Citywide Banks has several deposit products like savings accounts, checking accounts, money market accounts and CDs, giving you many options to manage your money. Citywide Banks does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Citywide Banks's CD rates are competitive in comparison to the national average. 

Rates

With a savings rate of 0.10%, Citywide Banks ranks below the mean as compared against the national average. Its one-year and five-year term lengths CD's earn at a rate of 0.85% and 1.80%, respectively, while its highest-yielding money market account earns at a rate of 0.35%. Given Citywide Banks's below average savings rate, you should consider taking a look at other banks for savings accounts.

Compare Citywide Banks to Other Competitive Offers

Fees

Citywide Banks charges customers extremely low fees compared to the national average. Citywide Banks's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. 

Financial Health

Citywide Banks is currently a large bank with $2 billion in assets and $2 billion in deposits. It has an excellent Texas Ratio of 2.84%, denoting an exceedingly low chance of failure. Additionally, Citywide Banks is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Citywide Banks Near Me

Citywide Banks has 28 branches across the U.S.

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