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The Citizens Bank of Philadelphia Review

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

Overview

The Citizens Bank of Philadelphia was founded in 1908 with headquarters in Philadelphia, Mississippi. The Citizens Bank of Philadelphia owns assets of $993 million as well as $723 million in deposits, classifying it as a medium-size bank. The Citizens Bank of Philadelphia lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional 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 varied choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking account features a $2.00 monthly fee, which is acceptable compared to other U.S. banks. Banks that offer no-fee checking and a high savings APY are the best bet for getting the most income from your deposits while maintaining convenient 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

The Citizens Bank of Philadelphia features a savings rate of 0.10%, which is fair in comparison to the national average. The Citizens Bank of Philadelphia's one-year and five-year term lengths CDs earn at a rate of 0.70% and 1.97%, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given its poor savings rate, you should consider other options 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

The Citizens Bank of Philadelphia generally has high fees as compared against the national average. Its checking account has a monthly fee of $2.00, ranking it slightly worse for anyone looking for a hassle-free account. The Citizens Bank of Philadelphia unfortunately does not reimburse out-of-network ATM charges, which means you will be required to search for a The Citizens Bank of Philadelphia ATM or eat the ATM charge.

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 bank locations in Mississippi. With mobile and web apps, The Citizens Bank of Philadelphia makes account access convenient, even on the go. The Citizens Bank of Philadelphia gets fair marks from customers for its online presence. With 140 ratings across both iOS and Android platforms, the The Citizens Bank of Philadelphia mobile app rates a 3.8 out of 5 (compared to the national average of 3.8). The Citizens Bank of Philadelphia's mobile app allows you to control your finances by reviewing current statements, sending and receiving funds and reaching customer service. The Citizens Bank of Philadelphia gets an outstanding consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 ranks as a medium-size bank with $993 million in assets and deposits totaling $723 million. The Citizens Bank of Philadelphia's Texas Ratio is 13.94%, indicating that the bank is in fine financial well-being and improbable to fail. 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 Account 0.1% APY $1000

The Citizens Bank of Philadelphia has several deposit products like 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 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 of Philadelphia's CD rates are fair in comparison to the national average.

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Find a The Citizens Bank of Philadelphia Near Me

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

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