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  City National Bank Savings Account

City National Bank Savings Account

in Savings Accounts from City National Bank · fdic

Unaffiliated

City National Bank Savings Account

Unaffiliated

in Savings Accounts from City National Bank · Member FDIC

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Highlights
Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.01%
APY Minimum Balance N/A

City National Bank Savings Account Review

City National Bank Savings Account is offered by City National Bank, a bank founded in 1972 and based in Beverly Hills, CA. City National Bank Savings Account is available in 8 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $5, but the fee is waived if you keep a minimum balance of $100.
  • No ATM fees. City National Bank Savings Account does not charge fees on ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through City National Bank.
City National Bank savings account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in 8 states.
  • Higher than average wire transfer fees.
  • Monthly service charge.
City National Bank savings account FAQ

Are savings accounts from City National Bank federally insured?

Yes, your City National Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does City National Bank offer a signup bonus?

City National Bank savings account doesn't offer a signup bonus.

What is the minimum initial deposit for City National Bank savings account?

The minimum deposit to open a City National Bank savings account is $50.
City National Bank Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Combined Balance to Avoid Monthly Fee $7,500
Minimum Opening Deposit Starting at $50

What APY does City National Bank offer?

City National Bank savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does City National Bank savings account charge?

City National Bank savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $100. You can also waive the fee by keeping a combined balance of $7,500.

  • Outgoing domestic bank transfers come with a $35 fee.
  • Outgoing international bank transfers come with a $55 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • City National Bank savings account charges a $20 fee for an early account closure. Contact City National Bank savings account for more details on what is considered an early closure.

What features and perks does City National Bank savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - City National Bank savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - City National Bank savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to City National Bank savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for City National Bank savings account?

The customer support email for City National Bank savings account is contact@cnb.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 8 states and Washington, D.C.
  • California
  • Washington, DC
  • Delaware
  • Georgia
  • Massachusetts
  • Minnesota
  • Nevada
  • New York
  • Tennessee

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Combined Balance to Avoid Monthly Fee $7,500
Minimum Opening Deposit Starting at $50
Early Account Closure $20
Monthly Fee $0 - $5
Returned Deposit Fee (Domestic) $12
Wire Transfer Fee - Domestic (Outgoing) $35
Wire Transfer Fee - International (Outgoing) $55
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
APY (Annual Percentage Yield) 0.01%

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