Citywide Banks has a new checking account – Platinum Checking, which earns 2.00% APY on balances between 1¢ and $50k. Balances above $50k earn 0.01% APY. The minimum opening deposit is $500.
The Platinum Checking is not a rewards checking account. The landing page describes it as,
An interest-bearing checking account that will earn you
a premium interest just by keeping a minimum balance.
While there are no qualifying requirements to earn the stated APY, maintaining an average daily balance of $7.5k waives the $12 monthly maintenance fee. ATM fees will be reimbursed up to $20 per month if at least one monthly direct deposit occurs.
Free checks are available and an ATM card is provided. Online banking is including, with Bill Pay, eStatements, and Mobile Banking.
$200 Checking Bonus
Now through April 30, 2019, Citywide Banks is offering a bonus of up to $200 when opening a new consumer checking account. The bonus is not available to existing Citywide Banks checking customers, or “those who had accounts open on or before February 28, 2019,” and there is a limit of one bonus per customer.
The are actually two parts to the bonus:
A $30 bonus will be given for enrolling in eStatements within 60 calendar days of account opening and a $170 bonus will be given if one (1) direct deposit of $500 or more post to the account within the first 60 calendar days of account opening. Direct Deposit examples include payroll, pension, Social Security or other government benefits.
If the new checking account is closed within 90 business days after opening, any bonus paid out will be deducted at closing and a $25 early account closing fee may apply.
Headquartered in Denver, Colorado, Citywide Banks has a market area that includes the Colorado counties of Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Eagle, Grand, Jefferson, Routt, Stephens, and Weld.
US citizens and resident aliens who live in the Bank’s market area can open a Platinum Checking online or at any of 24 Colorado branches located in Arvada, Aurora (2), Boulder, Breckenridge, Broomfield, Centennial, Conifer, Denver (6), Edwards, Erie, Evergreen, Fraser, Golden, Idaho Springs, Lakewood, Nederland, Steamboat Springs, and Thornton.
Citywide Banks has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.03% (excellent) based on December 31, 2018 data. Citywide Banks has an excellent annual capitalization level (15.97%). Please refer to our financial overview of Citywide Banks (FDIC Certificate # 58458) for more details.
Founded in late 2006 as the Summit Bank & Trust, the Bank acquired Denver-based Centennial Bank in 2016 and re-branded as Centennial Bank and Trust. A year later, Citywide Banks was acquired and its brand adopted. Although Citywide Banks is only in its thirteenth year of operation, it’s currently Colorado’s ninth largest bank, with assets in excess of $2.3 billion and more than 43,600 customer accounts.
How the Platinum Checking Compares
When compared to 208 standard checking accounts tracked by DepositAccounts.com, which are available within the market area, CitywideBanks’ Platinum Checking APY currently ranks second
The above rates are accurate as of 4/1/2019.
Looking for an interest-bearing standard checking account? Please refer to DA’s Standard Checking Account Rates Table page for both nationwide and state-specific accounts.