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.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
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 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.
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.
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
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 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.Back to Overview
Find a The Citizens Bank Near Me
The Citizens Bank has 18 physical branches in the U.S.Back to Overview