CIT Bank, a division of First-Citizens Bank and Trust Reviews (37)

Rated 3.58 stars out of 5 - based on 26 reviews with ratings

  • Jun 2, 2022 | | Replies 2

    I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a higher rate 0.90% for new customers than for someone like me who has been loyal. The higher 20 basis points is $1,000 a year on my account of $250,000 that they prefer to give to someone who will be there for a couple months instead of to me who would (would have) stayed another 14 years. What gives?

    CIT Bank | Jun 6, 2022

    Hi RTN1949, we consider a number of marketplace factors when setting or changing the interest rates on our CDs, Savings and Money Market accounts. You can earn a higher rate offered on Savings Connect by opening an account online in 10 minutes or less and transferring the funds from your current account to the new Savings Connect account. Thank you.

    | Jul 28, 2022

    I agree, I am earning far less now, so I am pulling out and going to another bank with far better interest!!!!!!

  • Jul 21, 2020 |

    Opened account a month ago. I've already seen the rate fall a couple of times, but have no other complaints. Easy process and a clear easy to use site (unlike Ally where I was before).

  • Jun 25, 2020 |

    Online CDs 12 Month Rates

    Don't get your hopes up. That 1.25% APY is old news. CIT is posting 1.00%

  • Apr 28, 2020 |

    Online CDs 12 Month Rates

    I agree with JN Howard, CIT's rates have fallen into a lower tier. Their website is clunky and slow as well. I did manage to open a few Cds when they were more competitive. At one point earlier this year they offered the best rate I could find with a $1000 minimum deposit.

  • Apr 14, 2020 |

    They defacto refused to remit funds for an ACH transfer forcing me to use other funds if I wanted that new account.

  • Aug 10, 2019 |

    Online Savings Rates

    I am not sure about all of the rave reviews. I've seen nothing but rate cuts and specious arguments about why I am earning less than the best rate (I have $200,000 on deposit, not $25). The website feels old and does not inspire confidence (versus Purepoint or Marcus). I see no reason to run, but no reason to stay.

  • Jan 4, 2019 |

    Online Savings Rates

    Current rate today Jan 4, 2019: 2.45%... Right on. I just transferred my money from brick and mortar to online CIT BANK. I will monitor and watch closely that they keep this competitive rate!!! Thanks to CIT BANK. Cheers!!!! Happy New Year. : )

  • Dec 25, 2018

    Online Savings Rates

    Opened a savings account at 1.85%. Current rates at 2.25% but they keep me at 1.85, said it's a "new type of account". Not worth the hassle. Also concerned about website cybersecurity; they have poor practices. Wait times were on the long side but I was able to get through. Not the best experience but still beats every brick and mortar bank.

  • Aug 18, 2018 |

    Online Savings Rates

    The website is not crisp and the call center staff is focused on "upselling" CDs. Otherwise, a good experience.

  • Jul 13, 2018 |

    CD rates good-but website is dated and could not transfer funds from savings to new cd. Holding period is too long. Site needs drastic improvement-see ALLY Bank.

  • May 28, 2018 |

    Online Savings Rates

    Customer for many years and I have only had good experiences. If money market is higher than savings, a 2 minute phone call gets you into the higher account. They used to have great CDs too, and I wish they would offer those again.

  • Oct 6, 2017 |

    Online CDs 24 Month Rates

    Been with this bank since 2013. Do not have any complains other then their on hold music.

  • Aug 14, 2017 |

    Signed up for a 1.05% promo rate with a bonus if you wait 105 days to be paid the bonus. Then I find out that CIT has new offers at 1.30%.

    The rate you receive depends on which deal you got and when. When they raise rates, it is not for everybody.

    The only way to get the higher rate is to close your account and open a new account with new funds.

    As soon as my promo is over, I will close account and go elsewhere.

  • Jul 9, 2017 |

    Online Savings Rates

    I am an accountholder for many years. Cannot stand the promotional rates for new depositors that aren't extended to those who have been loyal customers for many years. Reminds me of the Ally commercials. I think I will go there.

  • May 27, 2017 |

    Online Savings Rates

    The complaints here about the website being dated and difficult are valid, but they should not dissuade you from opening savings account here. In my experience, better than any of the others.

  • May 20, 2017 |

    Online Savings Rates

    Always difficult to log in. Only opened a CD so guess I don't need to log in.

  • May 12, 2017 |

    Online Savings Rates

    Been a customer for a while. 2 complaints - these bonuses that favor new customers over old, and needing a code by text to login every time.

  • May 12, 2017 |

    Online Savings Rates

    Opened for the bonus; have had no problems.

  • May 7, 2017 |

    Online Savings Rates

    Was at Barclays before, but switched with all the bad news about that place in the news. Customer service there was good. This is even better. Don't understand the bad reviews here. Got my $400 bonus on $300,000.

  • Apr 30, 2017 |

    Online Savings Rates

    Bad experience. These guys couldn't even set up my transferring bank and their website and customer service is a joke.

  • Feb 1, 2017 |

    Online Savings Rates

    These banks are more or less created equal, but this one rocks

  • Jan 12, 2017 |

    Online Savings Rates

    website leaves something to be desired but all it all no problems and i am glad they raised the rate

  • Dec 21, 2016 |

    Online CDs 12 Month Rates

    All in all, an easy experience. I wish their CD rates were higher, but they are always among the best.

  • Jul 28, 2016 |

    Online CDs 12 Month Rates

    Fairly easy process to open but email communication help is poor

  • Jul 27, 2016 |

    Online CDs 60 Month Rates

    This is the bank for 5 year CDs, but it is no longer the rate. A year ago, they were paying 2.50% and advertising it heavily. You will see that rate again soon, and when you do, you should act on it.

  • Jul 9, 2016

    Online CDs 12 Month Rates

    Phone rep were easy to reach at peak hours, knowledgeable, professional, helpful

  • May 27, 2016 |

    Online Savings Rates

    Works just as well as Ally or any of the others.

  • May 25, 2016 |

    Online Savings Rates

    The people at customer service are really such nice people if you have a problem, but I find the external transfer section cumbersome and not intuitive.

  • Apr 20, 2016

    Online Savings Rates

    Great online bank with great service. Website works great although it has a 2003ish look to it.

  • Mar 18, 2016

    Savings Rates

    They dropped their rate from 1.05% just a few months ago. At 0.90% this is no longer a very competitive rate.

  • «
  • Page 1 of 2
  • 2
  • »

Add Your Review

or use your BestCashCow account