Where Citizens Access shines:
- Highly competitive savings account rate and CD rates
- No fees
Where Citizens Access falls short:
- Relatively high minimum opening deposits of $5,000
- No checking account
- No mobile app, but offers a mobile-optimized website with a check deposit feature
Where Citizens Access shines:
- Highly competitive savings account rate and CD rates
- No fees
Where Citizens Access falls short:
- Relatively high minimum opening deposits of $5,000
- No checking account
- No mobile app, but offers a mobile-optimized website with a check deposit feature
Where Citizens Access shines:
- Highly competitive savings account rate and CD rates
- No fees
Where Citizens Access falls short:
- Relatively high minimum opening deposits of $5,000
- No checking account
- No mobile app, but offers a mobile-optimized website with a check deposit feature
The bottom line
Citizens Access, the new online offshoot of Citizens Bank, offers a savings account and certificates of deposit with no fees and some of the best interest rates across the board. There are some inconveniences — the bank doesn’t offer a checking account, has no mobile apps (though the site is mobile-first), and deposit accounts have a relatively high minimum opening deposit of $5,000.
Read on for details on Citizens Access’ savings, CDs and more.
Savings: 4.0/5.0
The upsides:
-
- High interest rate: With an annual percentage yield of 2.35%, Citizens Access lands itself among the most competitive online savings accounts, so long as you keep at least $5,000 in the account. Balances under that will get an APY of 0.25%.
- No fees: You won’t have to worry about monthly fees.
The downside:
- $5,000 minimum opening deposit: The initial deposit is relatively high compared to other savings accounts.
» Want to compare your options? Check out cheatgame.info’s best banks and best high-yield online savings accounts.
How does Citizens Access compare?
Online Savings Account
cheatgame.info Rating
at Citizens Access,
Member, FDIC
APY
2.35%
Monthly Fees
$0
Bonus features
No Monthly Fee
Competitive APY
Online Savings
cheatgame.info Rating
at Goldman Sachs Bank USA,
Member, FDIC
APY
2.25%
Monthly Fees
$0
Bonus features
No Monthly Fee
Competitive APY
High Yield Savings Account
cheatgame.info Rating
at American Express National Bank,
Member, FDIC
APY
2.10%
Monthly Fees
$0
Bonus features
Competitive APY
Live help 24/7
No Monthly Fee
Certificates of deposit: 4.5/5.0
The upside:
- High rates: Citizen’s Access offers certificates of deposit with some of the best rates in the land. Their one-year CD, for example, has an APY of 2.85%, and their five-year CD has an APY of 3.15%.
The downside:
- You’ll need $5,000: Like the savings account, there’s a fairly high minimum to open a certificate of deposit.
» Want to see other competitive rates? Browse the best CD rates this month.
Bank experience: 3.0/5.0
The upside:
- Multiple channels of customer support: Citizens Access offers live phone help, even on weekends, email support and some help through social channels, including Twitter.
The downsides:
- No branches, or checking account: If you like to keep all your accounts under one roof, Citizens Access won’t be for you — checking accounts aren’t available. Since it’s an online bank, in-person support won’t be possible, either.
- No mobile apps: Although Citizens Access currently doesn’t have any apps, its mobile-optimized website offers a check deposit feature as well as an excellent user interface.
» Ready to take the next step? With high rates and no fees, banking with Citizens Access should be lucrative and stress-free. If you can overlook the absence of key features like a checking account and mobile apps, Citizens Access is a good contender for a place to park your savings. If you’re looking for other highly competitive interest on savings, check out this month’s best savings rates.
