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First Citizens Bank & Trust Company Checking Account

in Checking Accounts

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First Citizens Bank & Trust Company Checking Account

Unaffiliated

in Checking Accounts

SuperMoney Net Recommendation Score -20% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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Overview

First Citizens Bank & Trust is a North Carolina state-chartered bank that provides services to the general public and corporations. The bank is owned entirely by First Citizens BancShares, Inc. which trades as FCNCA/FCNCB on NASDAQ. First Citizens is the largest family-controlled bank in the United States. It has nearly 570 branches in 18 states and a market cap of $2.90 billion. As well as personal banking services, First Citizens Bank & Trust also provides treasury services, merchant services, wealth management and corporate banking services. The bank has a five-star rating with Bauer Financial and an A+ rating with BBB.

What Are First Citizens Bank’s Checking and Savings Accounts Like?

As a full-service commercial bank, First Citizens provides a wide selection of financial accounts and products. It has four main types of checking accounts: free checking, select checking, premier checking and prestige checking.

Checking Accounts

Free Checking and Select Checking have the same features except free checking has no minimum balances or monthly service fee. The only caveat is holders of free checking accounts must sign up for e-statements. Select Checking has an $8 monthly fee that can be avoided if you have an average daily balance of $1,500 or $250 in direct deposits. These are the other main features:

- $50 minimum opening deposit
- Free Visa card
- Free online banking
- Free Bill Pay
- Free overdraft protection.

Premier Checking and Prestige checking both have the following features:

- $100 minimum opening deposit
- Free Visa card
- Free online banking
- Free Bill Pay
- Free overdraft protection
- Complimentary First Citizens Together Card
- Reimbursement of out-of-network ATM fees (up to $5 for Premier Checking and unlimited for Prestige Checking
- Preferred rates on CDs

Premier Checking has a monthly service fee of $16 while Prestige Checking charges $20. In both cases, fees can be avoided if you meet the minimum requirements. For Premier Checking you need a $5,000 average daily balance, have an ACH Direct Deposit of $4,000 or more, or a consumer loan of at least $10,000. For Prestige Checking, you need a $25,000 combined daily balance, and ACH Direct Deposit of $6,500 or more, or an equity line of at least $100,000.

Savings Accounts

First Citizen offers four types of savings accounts: E.savings, Regular Savings, Money Market Savings, and CDs. 

  • e. savings is best for easy online access to savings. Has a monthly service fee of $0 and a minimum opening deposit of just $25.
  • Regular Savings is the best for starting a branch savings account with a low initial deposit. It has a $5 monthly service fee that is waived if you keep a balance of $300.
  • Money Market Savings is for people who want higher interest rates but still need easy access to cash.
  • CDs offer a wide selection of terms and rates. There is no monthly service fee, and you can deposit $500 to $5,000.

All accounts, except CDs, come with a Visa debit card, and all account offer online and mobile banking. Interest rates are low. E. savings and regular savings offer 0.01% APY; Money Market Savings has 0.05%, and CDs give a maximum of 0.25% for a 36-month CD.

What Are The Advantages And Disadvantages of First Citizens Bank’s Checking And Savings Accounts?

The largest family-controlled bank in the United States does a good job offering the sleek online tools and variety of financial products we are used to seeing at large banking corporations.

Here is what we like about First Citizens Bank:
- Five-star rating with Bauer Financial
- Variety of products
- Low initial deposits
- Low fees and easy to meet requirements for $0 monthly maintenance
- Free overdraft protection
- ATM fee reimbursement

Here is what we didn’t like about First Citizens Bank:
- Low-interest rates
- Interest rates on savings accounts are not clearly advertised
- No interest earned on checking accounts

FIRST CITIZENS BANK & TRUST COMPANY CHECKING ACCOUNT Disclosure: International Transfer and Return Deposit Fees vary and must be discussed with the bank at the time of the transaction.
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Available in 19 states
  • Arizona
  • California
  • Colorado
  • Florida
  • Georgia
  • Kansas
  • Maryland
  • Missouri
  • New Mexico
  • North Carolina
  • Oklahoma
  • Oregon
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin

Feature Breakdown

Minimum Initial Deposit
$50
ATM Fee: In-Network
$0
Online Bill Pay Fee
$0
Wire Transfer Fee - International (Outgoing)
$0
Wire Transfer Fee - International (Incoming)
$0
Returned Deposit Fee (International)
$0
Monthly Fee
$0 - $25
Paper Statement Fee
$8
ATM Fee: Out-of-Network
$2.50
NSF Fee
$36
Overdraft Protection Fee (per transfer)
$32
Overdraft Item Fee
$36
Early Account Closure
$25
Returned Deposit Fee (Domestic)
$32
Debit Card Replacement Fee
$2
Stop Payment Fee
$35
Check Image Service
$3
Foreign Transaction Fee (Debit Card)
3%
Wire Transfer Fee - Domestic (Outgoing)
$30
Wire Transfer Fee - Domestic (Incoming)
$16
Bank Account Features
  • Bauer Financial A+/A Rating
  • Free Bill Pay
  • Interest Bearing Account
  • IRAs
  • Mobile Banking
APY
0.01% - 0.05%
0% 5%

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