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

  • Branch
  • Online
  • CDs
  • Checking
  • IRAs
  • Savings
  • Mobile App
  • Bauer Financial A+/A Rating
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0 votes

Love First Citizens bank. Several times I have received a call from the branch to alert me to situations that had arisen. They let me know what they had done to protect my account and how to proceed. These types of personal attention are the reasons that I won't go anywhere else for my banking.

0 votes

Courtesy! Every time we have entered this bank, it is like we just walked into our own home. We are treated with great courtesy and familiarity. I love First Citizens bank.

0 votes

First Citizens bank is great! These employees are 100% professional while making you feel human, loved and truly care!!! We are very pleased to have transferred all our business and accounts here. Check it out and see what I mean!!!

0 votes

Our experience has been outstanding at First Citizens. The bankers are knowledge and thoughtful. They take an interest in me and my family. The manager of the branch even knows my kids names.

0 votes

My husband and I changed our personal and business accounts With First Citizens bank and we are very happy having them as our bank .We always has a very positive experience. We love this bank.

0 votes

I 'm glad to say they went out of their way to help and we had a hearty laugh about a box of dum dum suckers they had on the counter. Very nice people that I would love to have at our branch. Thanks so much.

0 votes

Today I opened an account with First Citizens Bank & Trust Company, and couldn't have been more pleased with the customer service. The Manager made me feel at home and attended to my needs although it was close to closing time. not only are they extremely helpful and clear throughout my visit buut also polite and very personable

0 votes

Great Staff and Manager. so helpful with any transaction when you come into the branch, knowing their customers all by name with such great attitudes

0 votes

Great customer service has been forgotten at most other banks and retail establishments. When looking up the definition of fabulous service First Citizens Bank & Trust Company Banks picture should be there.

0 votes

The gentlemen at the first desk was most helpful, respectful, and very experienced at handling my situation. He provided the best solution and followed up with me thereafter. Service definately exceeded my expectations.

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