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First-Citizens Bank & Trust Company Review

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First-Citizens Bank & Trust Company Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1898, First-Citizens Bank & Trust Company has assets totaling $34 billion as well as $29 billion in deposits, making the institution a very large bank. First-Citizens Bank & Trust Company, whose headquarters are in Raleigh, North Carolina, lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, First-Citizens Bank & Trust Company is a bank with better alternatives, with a score of 3.8 out of 5 stars from our team. First-Citizens Bank & Trust Company has a full choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. First-Citizens Bank & Trust Company has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, First-Citizens Bank & Trust Company's ordinary checking account does not have a monthly fee. Banks that offer no-fee checking, in addition to a high savings APY are the best bet for getting the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

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

Rates

3.2
SmartAsset Average: 3.5

First-Citizens Bank & Trust Company has a savings rate of 0.15%, which is poor compared to the average U.S. bank. Its CD rates are 0.60% and 1.15% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.35%. Given its noncompetitive savings rate, you should consider other options to earn more on your deposits.

How First-Citizens Bank & Trust Company's Savings Rates Compare

First-Citizens Bank & Trust Company Savings 0.15 National Average 0.26 Compare Offers
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Fees

4.0
SmartAsset Average: 4.4

First-Citizens Bank & Trust Company charges its customers average fees compared to the national average. With no monthly fee, First-Citizens Bank & Trust Company's checking account is perfect for people who want a hassle-free checking account. Additionally, at $36.00, its overdraft fee is slightly higher than the average overdraft fee charged by U.S. banks. First-Citizens Bank & Trust Company unfortunately does not refund out-of-network ATM fees, which means you will have to search for a First-Citizens Bank & Trust Company ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $36.00 National Average: $35.00
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Service Quality

3.2
SmartAsset Average: 3.7

First-Citizens Bank & Trust Company is a brick-and-mortar bank, with 552 total branches in Arizona, California, Colorado, Florida, Georgia, Kansas, Missouri, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia and Wisconsin. With mobile and web apps, First-Citizens Bank & Trust Company makes mobile banking easy, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Sunday and 7:00 a.m. to 11:00 p.m. ET. First-Citizens Bank & Trust Company gets poor marks from users for its mobile platform. With 2,900 ratings across Apple and Android platforms, the First-Citizens Bank & Trust Company mobile app rates a 2.6 out of 5 (compared to the national average of 3.8). You can access First-Citizens Bank & Trust Company's app to control your accounts by looking at monthly statements, transferring funds as well as reaching customer service. First-Citizens Bank & Trust Company receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 2.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

First-Citizens Bank & Trust Company is a very large bank owning $34 billion in assets as well as $29 billion in deposits. It has a strong Texas Ratio of 5.67%, suggesting that the bank is in good financial well-being and far from failure. Additionally, First-Citizens Bank & Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.67%
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 First-Citizens Bank & Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.70% APY
  • 36 Month: 0.90% APY
  • 48 Month: 1.01% APY
  • 60 Month: 1.15% APY
$1000 for all terms
Money Market Account 0.25% APY $10000

First-Citizens Bank & Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First-Citizens Bank & Trust Company does not have the best savings rate, which means you should consider 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. First-Citizens Bank & Trust Company's CD rates are fair in comparison to the national average.

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Find a First-Citizens Bank & Trust Company Near Me

First-Citizens Bank & Trust Company has 552 physical locations in the U.S.

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