First Citizens Bank
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About First Citizens Bank
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First Citizens Bank provides customers with a variety of banking services, such as free checking and savings accounts, loans, mortgages, credit cards and business banking. It was founded in 1898 in Smithfield, North Carolina, and has since grown to become the largest family-controlled bank in the U.S.
Pros & Cons
- Free checking and savings option
- Low overdraft fees
- Over 500 branches
- Low interest rates
- Some monthly fees on deposit accounts
- Limited service area
First Citizens Bank is a family-controlled financial institution with over 500 branches and 590 ATMs throughout the U.S. While it offers a free checking and savings option, many of its other accounts have monthly fees and low interest rates.
Top First Citizens Bank Reviews
Wouldn't choose another bank, great rate and customer service! Compared a variety of banks and some were close but First Citizens offered to match or lower the rate if I could fin...Read full review
What is First Citizens Bank?
First Citizens Bank is a U.S.-based financial institution that provides banking services to individuals and businesses. It offers checking and savings accounts, loans, mortgages, credit cards and wealth management services.
First Citizens Bank was originally founded as the Bank of Smithfield in North Carolina. In 2022, it merged with CIT to become one of the 20 largest banks in the U.S. Today, First Citizens Bank is owned and operated by the Holding family, which has a long history in the banking industry. In March, 2023, First Citizens Bank entered into an agreement with the FDIC to acquire the failed Silicon Valley Bank.
First Citizens Bank has over 500 physical branches in these states:
- New Mexico
- North Carolina
- South Carolina
- West Virginia
How does First Citizens Bank work?
You must live within the bank’s 21-state service area to open an account — even if you’re opening an account online. You can also open an account at a local branch or over the phone.
First Citizens Bank has an extensive network of branches and ATMs, primarily in the Southeastern U.S. Once you open an account, you can download the mobile app to manage your money on the go.
If you need support, First Citizens Bank has a customer service team that’s available seven days a week. You can contact them by phone, email or by visiting a local branch.
First Citizens Bank products and services
First Citizens Bank offers a variety of financial products and services, including checking and savings accounts, loans, mortgages and credit cards.
- Checking accounts
- First Citizens Bank has three types of checking accounts:
- Free Checking has no monthly maintenance fee when you enroll in e-statements.
- Premier Checking is designed for customers who maintain higher balances. It earns interest and comes with free checks and preferred rates on loans.
- Prestige Checking is one step above Premier Checking. It comes with ATM reimbursements and free cashier’s checks and money orders. It also offers the best relationship rates for loans and certificates of deposit (CDs).
- Savings accounts, money market accounts and CDs
- First Citizens Bank has an Online Savings Account with no minimum balance or service fee. However, the annual percentage yield (APY) is only 0.03%, which is much lower than competing online savings accounts. It also has a strict withdrawal limit; you can only make two free withdrawals a month before a $3 fee kicks in. The limit is usually six free withdrawals.
First Citizens Bank also has a money market account that earns up to 0.15% APY and requires a $500 minimum deposit.
The bank’s CDs must be opened at a branch and come in six-month to five-year terms. Interest rates vary by location.
- Credit cards
- With First Citizens Bank, you’ll find a lineup of credit cards that earn rewards for travel, cashback, points and more. It also has a secured cashback credit card for those trying to build credit.
- First Citizen Bank provides customers with several loan options:
- Home equity loans
- Home improvement loans
- Lot loans
- Business loans
- Auto loans
- RV loans
- Boat loans
- Looking for insurance? With First Citizens Bank, you’ll find:
- Vehicle insurance
- Property insurance
- Life insurance
- Pet insurance
- Umbrella insurance policies
- Whether you’re saving for retirement or a child’s education, First Citizens Bank has individual retirement accounts (IRAs) and 529 college savings plans to make it happen.
- Small business services
- Small business owners will find six checking accounts and four business credit cards, as well as merchant services, ACH services, business loans, lines of credit and more.
First Citizens Bank fees
First Citizens Bank has a free checking and savings account option that’s great for those needing a reliable way to bank.
If you choose a premium checking account or a money market account, you’ll pay a monthly fee of $18 or $10, respectively, unless you can meet the requirements needed to waive it. In most cases, these requirements include maintaining a minimum balance.
First Citizens Bank charges for the following. Exact fees vary by state and account type:
- $10 for overdrafts, up to four times per day
- $2.50 for domestic non-network ATMs
- $5 for international non-network ATMs
- $3 for excess withdrawals from a savings or money market account, beginning with the third withdrawal in a given month
- $16 for incoming domestic wires
- $30 for outgoing domestic wires
- 3% for foreign transactions
First Citizens Bank FAQ
Does First Citizens Bank use Zelle?
Yes, First Citizens Bank does offer Zelle as a person-to-person payment option for their customers. With Zelle, you can send and receive money quickly and securely to anyone with a U.S. bank account, typically within minutes.
Can I open an account at First Citizens Bank if I have bad credit?
You may be able to open an account at First Citizens Bank even if you have bad credit. For instance, it offers a secured credit card option, which requires a security deposit and can help you build or rebuild your credit. However, you may need to meet certain requirements to qualify for this card, such as having a steady source of income.
Where is First Citizens Bank available?
First Citizens Bank serves residents in these states: Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Missouri, Nebraska, Nevada, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia and Wisconsin.
How much cash can I withdraw from a First Citizens Bank ATM?
Daily ATM withdrawal limits vary depending on account type. Prestige account holders can withdraw $1,000 per day, while Premier and Together Cards can withdraw $600 per day. The daily ATM limit is $500 per day for all other accounts.
Is First Citizens Bank legit?
Overall, First Citizens Bank is a reputable financial institution with a range of products and services to meet your financial needs. First Citizens Bank takes security seriously and offers a range of tools and resources to help you protect your accounts.
While its free checking and savings accounts are a great option if you need a basic way to bank, its other accounts have monthly fees and interest rates that aren’t as competitive as other financial institutions. Review the terms and conditions of any account you're considering, and compare it with other banks to ensure you find the best fit for your financial situation.
First Citizens Bank Reviews
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First Citizen Bank is probably the Worst bank for anything from Personal Banking to Business. This is going to be a Long and pretty In-Depth review: Originally I was with One West Bank, a pretty good bank for years, until it was acquired by First CitizenBank in 2022. Thinking I might still get the same level of banking service and customer support I stayed. I can tell you this that laid off most of One West Bank employees! So I stayed and had no issues and slowly I started to face issues:
- Online Banking transfers ex: transferring a check takes 2 days.
- Transferring money from any merchant account, seller account especially if you are using that for your business started to take longer than expected.
- The most strange and pathetic part is I got a call from my local brand of First Citizen Bank telling me they will close my account if I do not transfer money to my checking to cover the negative balance. My account went negative for 1-2 days reason behind it traveling. I had actually called the bank and notified the bank for this.
Later I figure out that to close a bank account your bank should be negative for 15 business days not 1-2 days! Laying off people, irresponsible customer support, charging draft fees which do not come off, online banking which takes too long and a bad APP - Do not even go near opening any bank account, checking or saving with First Citizen Bank. Take your money, save yourself from a bad choice for personal banking.
I have had nothing but issues with this bank. The first issue was they didn't charge me the agreed upon interest rate. I had to make them aware they had been charging me the wrong rate for a few months. They corrected but it happened again. I lost money because they were overcharging me when my loan was at its largest. They never reimbursed me for that. Fast forward to last year, I had to change bank accounts due to fraud, I connected with loan manager and filed new paperwork to pull out of new bank account. They kept trying to pull from old one, racking up charges.
Contacted loan manager again and asked for refund on charges and was told they wouldn’t approve, even though it was their mistake. The paperwork was also incorrect so they weren't pulling out the correct amount that I had requested only interest. Manager filed paperwork incorrectly. Cost me money again. Paying off the loan is another headache, their online system makes everything harder than it needs to be, 5 steps when 1 would work! This bank is a nightmare and I will never do business with them again!
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I have tried to call in and make a payment for a car loan and set up auto draft but the company is making this process so hard. They tell me they need to call a landline to get a code, but then tell me they can’t do that. They say they need to speak to the primary on the business account, and I say he is an attorney and I am the account manager. I will try to call him. They then say he has to call in. I then ask does he have to call from the identical line from the office phone and she tells me I can’t tell you that. I try and remind her that he is an attorney and will need to call from cellphone, so that matters. She then tells me she can’t tell me that. It has never been so hard to make and set up draft for a payment in my life. I will not be using this bank again. I am going to look into refinancing.
The main branch on Main Street in High Point, NC has the worst customer service that I have experienced in any bank. Very rarely do they even say hello or thank you when going through the drive-through. Some don't even say anything even when I say hello. On an average, it takes about 10 minutes to do a simple deposit. Went in today to make a deposit and the teller abruptly said she was waiting on another customer and I would have to wait. I made the comment about "what else is new" and she did not like the comment and proceeded to return my deposit and was told to come back another day. I went inside to get another teller and to speak with the manager.
The manager was tied up with a customer and waited for one of the tellers to become available. All the while the rude teller was doing nothing. When one of the other tellers became available, she abruptly told me that I had to see the manager and refused to take a rather large deposit. Got tired of waiting for the manager and left. Proceeded to call the manager's direct line and left a message for her to call me. That did not happen. I, apparently am not alone with issues at this branch.
We opened a Business Account five years ago. When Scott ** became Leesburg Branch Manager the service was AWFUL! The old staff, who were wonderful left & new people replaced them who were lazy, careless & one attempted to cause us to lose money from our business account! CRAZY & CORRUPT? The old saying, "Fish rot from the head down." They need to REPLACE SCOTT ** & services would probably be adequate again. We moved to Bank of Charles Town whom I cannot recommend higher for business, or personal for that matter!!! Bank of Charles Town cannot help enough & have the nicest staff! We love them!
Can't get debit or credit card alerts. Since they do so many updates constantly the alerts get turned off and you can't get them turned back on. Example, your payment due reminder, if card was used at gas station or if cards were used. Now I get no alerts at all. Have called several times. The customer service rep first stated there was no problem but yet when you call you get a message that the system is having problems getting you logged in. She stated she would have someone call which she did and this customer service person actually stated it was my browser which it wasn't. I tried on my Chromebook and my their mobile app neither works. So she went in and cut the alerts on on both cards but they still are not on. I have messaged them and no fix yet. Time to change banks. Wouldn't advise anyone to put your money in their bank.
I opened an account here and switched my direct deposits and auto drafts over to it. My direct deposits would hit every Friday but would not post to my account until late Monday...so they are constantly charging me overdraft fees for transactions that hit before they decide to make my money available... ridiculous, I'm switching back to a bank that can actually handle transactions in a timely fashion. The point of direct deposit is to be able to use your money ON payday.
Absolutely terrible. My wife wanted to move to another bank and she chose First Citizens. We opened a joint checking, savings, personal checking (for my business), I got a FC credit card and rolled our HELOC all into one nice online interface. I set up auto payments for my CC, autodraft from our joint account the full balance every Monday. I bought some personal items I wanted to pay for out of my own personal account instead of the Joint, so I manually paid the full balance out of my personal funds. Their transaction process is so slow and archaic that it took my payment and then withdrew the full amount AGAIN from our joint account. Branch manager told me that "the autopay is going to process no matter what." So I had overpaid $1,364.00. It took me a MONTH to get credit back into my joint account. Absolutely inexcusable.
Then I had fraud on my CC. Its has been 2 months and I still have over $1000 of fraud charges on my account. Calling the branch is a joke. Called the branch manager repeatedly and "I'm going to stay on the phone until I get a resolution to this. I'll call you back this afternoon." 2 days later and no call. I call her and leave a VM. Wait two more days and call and leave a VM. Then I call the branch mainline and find out she's on vacation...AGAIN!!!! As soon as I get the fraud taken care of (2 months BTW) I am so done here and will IMMEDIATELY close all accounts and run for the hills to ANY bank other than FC. You've been warned!
I have a huge problem with your bank.
#2 Taking debit card too long to arrive in the mail.
#3 Took way too long for a representative to call my spouse who I added to my account.
#4 Couldn't find the information of my employer who banks with FCB so I had to open an account and pay $50.
#5 Me having to express myself this way about a bank that handles my funds.
I opened a checking account with First Citizens Bank. It lasted two days. When I was unable to login, I found out to my horror that First Citizens Bank closed my account without notifying me. Not only that, they forced me to pay $103.26 to do that. I had to pay for checks I couldn't use, and the funds were not available because the account was closed without my consent. I will never trust this bank again.
First Citizens Bank Company Information
- Company Name:
- First Citizens Bank
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