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Citizens Access Review: Savings, CDs

July 19, 2018
Banking, CDs, Savings Accounts
Citizens Access Review: Savings, CDs
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cheatgame.info rating: 3.5/5.0

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

at Citizens Access,

Member, FDIC


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, and deposit accounts have a relatively high minimum opening deposit of $5,000.
Best if: You’re looking for an online savings account or CDs and prioritize rates above everything else.

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 2.25%, 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.

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 2.70%, 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, and plans to offer support via 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.
Citizens Access

at Citizens Access,

Member, FDIC

» 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.

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