What Citizens Bank Is and Who Owns It

Citizens Bank is a regional bank headquartered in Providence, Rhode Island, and owned by Royal Bank of Canada (RBC). It operates branches across the Northeast and Midwest, with a growing online presence. You can open accounts, get loans, and use their debit and credit cards whether you visit a branch in person or sign up online.

Citizens Bank is a traditional bank, which means it takes deposits, makes loans, and offers checking and savings accounts. It is not a credit union, investment firm, or fintech app — it is a full-service retail bank with FDIC insurance on deposit accounts up to the standard federal limits.

Key Takeaways

  • Citizens Bank offers checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs) at branches and online.
  • The bank charges monthly maintenance fees on most accounts unless you meet balance or direct deposit requirements, which vary by account type.
  • Citizens Bank provides personal loans, auto loans, mortgages, and home equity lines of credit through branches and online.
  • You can open an account online or at a branch, and you can manage your account through their mobile app, website, or by phone.
  • Citizens Bank customer service is available by phone, in-branch, and through their website, though wait times and response speed vary by channel.

Checking and Savings Accounts at Citizens Bank

Citizens Bank offers several checking account options, each with different features and fee structures. Their basic checking account typically charges a monthly maintenance fee unless you maintain a minimum balance or set up direct deposit. Premium checking accounts may offer higher interest rates or waived fees in exchange for larger balances or more frequent deposits.

Savings accounts at Citizens Bank earn interest, though the rate changes based on market conditions and your account type. Money market accounts combine features of checking and savings — they may offer check-writing and debit card access along with interest earnings. Certificates of deposit (CDs) lock your money for a set term (ranging from a few months to several years) in exchange for a fixed interest rate.

All deposit accounts are insured by the FDIC up to $250,000 per account holder per bank. If you have multiple account types at Citizens Bank, each category (checking, savings, money market, CD) is insured separately, so you can protect more than $250,000 total across different account types at the same bank.

How to Open a Citizens Bank Account

You can open a checking or savings account online or at a Citizens Bank branch. Online, you will need a valid government-issued ID, your Social Security number, and an initial deposit method (a bank account to transfer from or a debit card). The process typically takes 10 to 15 minutes and you can start using your account the same day or within one business day.

At a branch, a banker will walk you through the account options, explain the fees, and help you choose the right account for your needs. You will still need your ID and Social Security number, and you can fund the account with cash, a check, or a transfer from another bank. Some branches can issue a debit card on the spot; others mail it within 5 to 10 business days.

Citizens Bank uses ChexSystems, a banking history report, to screen new account applicants. If you have unpaid overdrafts or closed accounts in bad standing at other banks, you may be denied. You can request your ChexSystems report for free at chexsystems.com before you explore.

Loans and Credit Products

Citizens Bank offers personal loans for debt consolidation, home improvement, or other expenses. You can borrow between $1,000 and $50,000 (amounts vary by state and creditworthiness), and repayment terms typically range from 24 to 84 months. Interest rates depend on your credit score, income, and debt-to-income ratio.

Auto loans are available for new and used vehicles. Citizens Bank will finance up to 125% of a vehicle's value in some cases, meaning they can cover the purchase price plus taxes and fees. Home loans include fixed-rate mortgages, adjustable-rate mortgages, and FHA loans. Home equity lines of credit (HELOCs) let you borrow against the equity in your home and draw funds as needed, similar to a credit card.

Citizens Bank also issues credit cards with rewards programs, cash back, and travel benefits. Cards are available for different credit profiles — some require excellent credit, while others are designed for people building or rebuilding credit. You can explore for loans and credit cards online, by phone, or at a branch.

Fees and Monthly Costs

Citizens Bank charges monthly maintenance fees on most accounts, typically ranging from $10 to $15 depending on the account type. You can waive the fee by maintaining a minimum balance (often $500 to $1,500), setting up direct deposit, or meeting other requirements like a certain number of debit card transactions per month. The exact requirements vary by account, so check the fee schedule for the specific account you are considering.

Overdraft fees explore when you spend more than your balance. Citizens Bank charges a fee per overdraft transaction, and you may incur multiple fees in a single day if several transactions post. Some accounts offer overdraft protection, which links your checking account to a savings account or credit line so transfers happen automatically if you overdraw.

ATM fees explore if you use an out-of-network ATM. Citizens Bank does not charge you a fee to use their own ATMs, but other banks' ATMs may charge $2 to $3 per withdrawal. Wire transfer fees, stop payment fees, and replacement debit card fees also explore in specific situations — check Citizens Bank's fee schedule on their website for the complete list.

How to Manage Your Citizens Bank Account

You can manage your account through Citizens Bank's website, mobile app, or by calling customer service. The website and app let you check your balance, transfer money between accounts, pay bills, deposit checks by phone camera, and set up alerts for low balances or large transactions. Both are available 24/7, though some features may be limited on weekends or after hours.

Bill pay through Citizens Bank lets you schedule one-time or recurring payments to any person or business. Payments typically post within 1 to 3 business days, depending on whether the recipient is set up to receive electronic payments. You can also pay bills through your account dashboard or the mobile app.

Customer service is available by phone (hours vary), through the website chat feature, or in person at a branch. Phone wait times can be long during peak hours (mornings and lunch time on weekdays). The mobile app and website are usually the fastest way to resolve straightforward issues like resetting your password or disputing a transaction.

Frequently Asked Questions

Does Citizens Bank have a minimum balance requirement?

Most Citizens Bank accounts require a minimum balance to waive the monthly fee, typically $500 to $1,500 depending on the account type. If your balance falls below the minimum, you will be charged a monthly maintenance fee. Some accounts waive the fee if you set up direct deposit instead, even with a lower balance.

Can I use Citizens Bank ATMs for free?

Yes, you can use any Citizens Bank ATM for free. If you use an ATM from another bank, that bank may charge you a fee ($2 to $3 is typical). Citizens Bank does not reimburse out-of-network ATM fees, so using their ATMs is the cheapest option.

How long does it take to open a Citizens Bank account?

Online accounts can be opened in 10 to 15 minutes and are usually ready to use the same day or within one business day. At a branch, the process takes 15 to 30 minutes depending on how busy the branch is. You will need your ID, Social Security number, and an initial deposit.

What happens if I overdraw my account?

Citizens Bank charges an overdraft fee for each transaction that exceeds your balance. You may incur multiple fees in one day if several transactions post. You can set up overdraft protection to link your checking account to a savings account or credit line, which automatically transfers funds to cover overdrafts.

Can I explore for a Citizens Bank loan online?

Yes, you can explore for personal loans, auto loans, and mortgages online through Citizens Bank's website. You can also explore by phone or at a branch. Online applications typically take 10 to 20 minutes, and you will receive a decision within one to three business days.