The Citizens Bank first started operating in 1938 with its headquarters in Olanta, South Carolina. The Citizens Bank manages assets of $433 million as well as $372 million in deposits, ranking it as a medium-size bank. The Citizens Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave the bank a 4.4 out of 5 stars, suggesting The Citizens Bank is a solid contender in your bank search. The Citizens Bank offers the full package of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, The Citizens Bank's most basic checking account does not have a monthly charge. Using a bank with no-fee checking and a high interest rate savings account is your best bet for getting the most income from your deposits while maintaining easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
The Citizens Bank has a savings rate of 0.15%, which is poor compared to other U.S. banks. Its one-year CD earns at a rate of 0.95% and the five-year CD has a rate of 2.00%. Given its below average savings rate, you should think about choosing another bank to earn more on your deposits.
How The Citizens Bank's Savings Rates Compare
The Citizens Bank typically has extremely low fees in comparison to other U.S. banks. The Citizens Bank's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. The Citizens Bank does not reimburse out-of-network ATM charges, which means you'll have to search for a The Citizens Bank ATM or accept the ATM charge.
The Citizens Bank is a brick-and-mortar bank, with 18 total bank locations in South Carolina. It also offers access to mobile and web apps for an easy mobile-banking experience. The Citizens Bank gets moderately satisfactory scores from users for its mobile app. The The Citizens Bank mobile app is rated at 4.3 out of 5 (with 22 customer reviews on iOS and Android) compared to the national average of 3.8. The Citizens Bank's mobile app allows you to control your bank accounts by reviewing monthly statements, sending and receiving money and reaching customer service. The Citizens Bank gets a superb consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
The Citizens Bank is currently a medium-size bank and handles assets totaling $433 million and deposits totaling $372 million. The Citizens Bank's Texas Ratio is 3.55%, denoting a low likelihood of failure. Additionally, The Citizens Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
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.Back to Overview
Compare The Citizens Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.15% APY||$100|
|Checking Account||0.05% APY||$500|
|Certificates of Deposit|| ||$1000 for all terms|
The Citizens Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Citizens 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. The Citizens Bank's CD rates are fair compared to the average U.S. bank.Back to Overview
Find a The Citizens Bank Near Me
The Citizens Bank has 18 locations in the U.S.Back to Overview