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First Citizens Bank strives to offer all-around banking services that allow its customers to make the most of their finances. They offer savings and checking accounts along with investment options, credit cards, loans, and mortgages for individuals and businesses.
Summary: With First Citizens Bank, you’ll get access to money management tools, which will help you with budgeting and tracking your expenses.
Deposits & Withdrawals
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|HQ||Raleigh, North Carolina, United States|
|Deposit Insurance||Yes, Up to $250,000|
|Min. To Open||$50|
|Min. Deposit For No Fee||$0|
|Min. Balance For APY||$50|
|State Restrictions||Available in 19 states|
First Citizens Bank is the primary subsidiary of First-Citizens Bancshares, Inc. They are a bank holding company that was founded in 1898 and is headquartered in Raleigh, North Carolina.
First Citizen Bank savings account is an online account that charges no monthly fees. This account is only available in 18 states, which limits the number of people that can access this service. You also need to make a minimum deposit of $50 to open this account. However, the account comes with features such as an ATM Card, money management tools, etc. You can also schedule bill payments from your savings account using First-Citizen’s bill pay service.
You can easily open this account by going online and visiting First Citizens Bank’s website. To open this account you must:
You will also be asked for some basic information such as your full name, email id, date of birth, social security number, etc.
The bank does not charge any monthly fee but account holders should be aware of other charges related to this account.
Some of the features offered by First Citizens Bank Online Savings Account are:
The bank offers deposits through wire transfer, direct deposits, cash deposits at their ATMs. You can also make wire transfers and ATM withdrawals. However, you may be charged a fee depending on what mode of transaction you choose.
You can get in touch with First-Citizen Bank’s representatives at their toll-free number 888-FC DIRECT (888-323-4732). Their customer representatives are available Monday – Sunday 7 am to 11 pm ET. You can also visit their physical branches and receive in-person assistance.
First Citizens Bank is a safe place for you to deposit your funds. Its savings account is insured by FDIC which means your funds will be insured for up to $250,000. This means, in case of bank failure, your funds will be saved and will be reimbursed up to $250,000.
Additionally, they use data encryption, unique identification, session timeout, and many security layers to provide you with safe online banking. They follow stringent internal and external security standards and have trained staff on the importance of confidentiality.
First Citizens Bank is federally regulated and supervised by the Office of the Comptroller of the Currency (OCC). The bank is accredited by Better Business Bureau (BBB) and insured by the Federal Deposit Insurance Corporation (FDIC).
The account does not have a monthly maintenance fee, and it offers an ATM card which is rare with savings accounts. First Citizens Bank also offers a user-friendly app for you to access your account. However, the account pays a considerably low APY and requires a minimum deposit of $50 to open the account. You also get a limited number of free transactions.
If you’re looking for a money management tool or an ATM card with a savings account, First Citizen Bank might be a good option. Otherwise, it’s best to look elsewhere as the low APY will not help much towards your savings.