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The Citizens Bank of Philadelphia 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
The Citizens Bank of Philadelphia Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1908, The Citizens Bank of Philadelphia has $993 million in assets as well as deposits totaling $723 million, classifying the institution as a medium-size bank. The Citizens Bank of Philadelphia, whose headquarters are in Philadelphia, Mississippi, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 3.8 out of 5 stars, The Citizens Bank of Philadelphia should be near the middle of the pack in your search for a bank. The Citizens Bank of Philadelphia has a full choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Citizens Bank of Philadelphia has a fair savings rate compared to the average savings account. The bank's standard checking product has a $2.00 monthly fee, which is not too high as compared against the national average. Locating a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best bet for gaining the most income on 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

With a savings rate of 0.10%, The Citizens Bank of Philadelphia ranks poorly compared to the national average. The Citizens Bank of Philadelphia's CDs feature a rate of 0.70% and 1.97% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.10%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

How The Citizens Bank of Philadelphia's Savings Rates Compare

The Citizens Bank of Philadelphia Savings 0.10 National Average 0.26 Compare Offers
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Fees

3.5
SmartAsset Average: 4.4

On average, The Citizens Bank of Philadelphia charges customers high fees in comparison to the national average. At $2.00 per month, The Citizens Bank of Philadelphia's checking account is less than great for people who want a hassle-free banking experience. The Citizens Bank of Philadelphia doesn't refund out-of-network ATM charges, which means you will have to locate a The Citizens Bank of Philadelphia ATM or eat the cost of withdrawal.

Monthly Fee $2.00 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

3.9
SmartAsset Average: 3.7

The Citizens Bank of Philadelphia is a brick-and-mortar bank, with 23 total branches in Mississippi. With mobile and web apps, The Citizens Bank of Philadelphia makes account access straightforward, even on the go. The Citizens Bank of Philadelphia's online and mobile banking services receive moderate feedback from customers. With 140 ratings on both iOS and Android platforms, the The Citizens Bank of Philadelphia mobile app is scored at 3.8 out of 5 (compared to the national average of 3.8). You can use The Citizens Bank of Philadelphia's app to manage your finances by looking at monthly statements, transferring money and accessing customer service. The Citizens Bank of Philadelphia receives a superb consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.4
SmartAsset Average: 4.8

The Citizens Bank of Philadelphia is currently a medium-size bank and has $993 million in assets and deposits totaling $723 million. The Citizens Bank of Philadelphia has a strong Texas Ratio of 13.94%, denoting a small opportunity of failure. Additionally, The Citizens Bank of Philadelphia is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

13.94%
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 of Philadelphia to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.025% APY $1000
Certificates of Deposit
  • 12 Month: 0.70% APY
  • 24 Month: 1.31% APY
  • 36 Month: 1.56% APY
  • 48 Month: 1.87% APY
  • 60 Month: 1.97% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

The Citizens Bank of Philadelphia 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 of Philadelphia does not have the best savings rate, which means you should consider looking 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 of Philadelphia's CD rates are fair compared to the average U.S. bank.

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Find a The Citizens Bank of Philadelphia Near Me

The Citizens Bank of Philadelphia has 23 physical branches in the U.S.

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