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The Citizens Bank Review

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The Citizens Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


The Citizens Bank first started operating in 1938 and is headquartered in Olanta, South Carolina. It manages assets of $433 million and deposits totaling $372 million, classifying it as a medium-size bank. The Citizens Bank 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. With a commendable 4.4 stars out of 5, The Citizens Bank proves it is a solid contender in your bank search. The Citizens Bank provides customers with a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. The Citizens Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, The Citizens Bank's standard checking does not have a monthly charge. Using a bank with free checking and a high savings APY is the best bet for getting the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.15%, The Citizens Bank ranks poorly compared to the average U.S. bank. The Citizens Bank's CDs feature a rate of 0.85% and 2.00% for the one-year and five-year term lengths, respectively. Given The Citizens Bank's below average savings rate, you should consider choosing another bank to earn more on your deposits.

How The Citizens Bank's Savings Rates Compare

The Citizens Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

The Citizens Bank charges customers extremely low fees as compared against the national average. The Citizens Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. The Citizens Bank unfortunately doesn't refund out-of-network ATM charges, meaning you'll be required to find a The Citizens Bank ATM or pay the ATM charge.

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

SmartAsset Average: 3.7

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 straightforward access and banking on the go. The Citizens Bank gets fairly high marks from customers for its mobile banking services. The The Citizens Bank mobile app has been given a 4.3 out of 5 (out of 22 ratings on iOS and Android) compared to the national average of 3.8. You can utilize The Citizens Bank's mobile app to control your bank accounts by looking at current statements, sending and receiving money as well as reaching customer service. The Citizens Bank gets a superb consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

The Citizens Bank is currently a medium-size bank with $433 million in assets and deposits totaling $372 million. Its Texas Ratio is 3.55%, denoting that The Citizens Bank is in superb financial health and improbable to fail. 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

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 The Citizens Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.85% APY
  • 24 Month: 1.20% APY
  • 36 Month: 1.30% APY
  • 48 Month: 1.60% APY
  • 60 Month: 2.00% APY
$1000 for all terms

The Citizens Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Citizens Bank does not have the best savings rate, which means you should think about taking a look elsewhere 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.

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Find a The Citizens Bank Near Me

The Citizens Bank has 18 physical branches in the U.S.

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