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888-201-6505
One Citizens Plaza
Providence, RI 02903

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Citizens Access (New Online Bank) Offers 2.00% APY Savings Account - 7/10/2018

Citizens Access, the new online division of Citizens Bank (RI) has an Online Savings Account, which earn 2.00% APY on balances of $5k+. Competitive CDs also available.

Reviews (3)

Easiest Account Opening Ever

Posted by: pwj7050 | Jul 18, 2018

I just opened an online savings account, the account with the 2.00% APY. It took only 5 minutes! Fantastic!

So Far So Good

Posted by: gpagpa01 | Jul 12, 2018

I opened account 7-11-18 around 8pmEST and set up initial deposit with Marcus. Easy to open, asked 4 questions to verify ID. On 7-12-18 shocked to see trial deposits @ Marcus already, I verified account deposits. I got an error message when trying to set up a $1 transfer pull into the account and I called cs, which by the way the hold time was close to 30 minutes, but the rep mentioned that since the balance was $0, it would not allow any scheduled transfers since the minimum $5k deposit had not yet posted. I tested that theory with a $5001.00 scheduled transfer and it took and was scheduled and appeared immediately in the account as account balance, but clearly was not available. This means that it will earn interest as per rep. This is a good data point to note that ACH pulls are earning interest (again as per rep) when funds are not yet in the account. This helps when transfering bigger amount and not losing the float over the weekend. Also, as per rep, ACH pulls with ABA and Ac# are allowed up to the 6 per month, but then again they won't charge penalty if over 6, but will close account if done 3xs in a 12 month period. The pending initial deposit was scheduled to post today, which is extremely fast since I just verified the trial deposits. Overall, the initial experience has been promising, only time will tell going forward. One thing I did notice when linking another checking account, it added Huntington Bank without logging in or trial deposits.

Having Second Thoughts

Posted by: edinperk | Jul 18, 2018

Opening and funding an account went smooth, although the ACH transfer took 4 business days. Today an email was received with an update to their policy stating: As of July 17, 2018, funds deposited to your account from an external bank as a result of a transfer that you have initiated with Citizens Access will now be held until the 5th business day. Hopefully that will be reduced over time, like my Ally account which started at 3 days and is down to just 1 day now. 5 days is excessive.
Update 7-20-2018: Thanks gpagpa01! Confirmed today, pushing to Citizens Access only took 1 day so I'll do that in the future. Increased rating.



Health
A+

Health Grade Components

Overall
FDIC Certificate #57957
Year Established2005
Employees14718
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.02%
Return on Equity - YTD7.46%
Annual Interest Income$1.08B
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$122.4B$118.2B
LoansQ1 2018vs Q1 2017$92.58B$87.54B
DepositsQ1 2018vs Q1 2017$89.84B$85.12B
Equity CapitalQ1 2018vs Q1 2017$16.61B$16.44B
Loan Loss AllowanceQ1 2018vs Q1 2017$1.03B$1.01B
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$711.3MM$814.0MM
Real Estate OwnedQ1 2018vs Q1 2017$21.7MM$31.8MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Citizens Access Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$5k*-Online Savings Account
OTHER TIERS: 0.25% Up to $5k

Citizens Access CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.10%$5k-Online 5 Year CD
3.05%$5k-Online 4 Year CD
3.00%$5k-Online 3 Year CD
2.75%$5k-Online 2 Year CD
2.60%$5k-Online 18 Month CD
2.50%$5k-Online 12 Month CD
2.05%$5k-Online 6 Month CD
Locations

Citizens Access is an Internet only bank and does not have branch locations. Its headquarters is located at One Citizens Plaza - Providence, RI 02903

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