If you're looking for a reliable bank in Pasadena, CA, CIT Bank is definitely worth considering. They offer a range of banking options.
CIT Bank is a popular online bank that's been around since 2000. They have a strong reputation for being a low-cost bank with minimal fees.
One of the key benefits of banking with CIT Bank is their high-yield savings account, which can earn you up to 2.15% APY. This is significantly higher than what many traditional banks offer.
Their online banking platform is also user-friendly and easy to navigate, making it simple to manage your accounts and transfer funds.
Pros and Cons of Banking
Banking with CIT Bank in Pasadena, CA has its advantages. High interest rates, particularly for the Savings Builder account, make it an attractive option for those looking to grow their savings.
One of the standout benefits is the lack of monthly service fees on any of CIT's accounts. This means you can bank with them without worrying about extra charges.
Suggestion: Cit Bank Platinum Savings
Low opening deposits of $100 for savings accounts and $1,000 for CDs make it easy to get started. Minimal banking fees also contribute to a hassle-free banking experience.
Here are some key pros and cons to consider:
- High interest rates, particularly for the Savings Builder account
- No monthly service fees on any of CIT’s accounts
- Low opening deposits ($100 for savings accounts and $1,000 for CDs)
- Minimal banking fees
Pros of CIT Bank
CIT Bank has some great features that make it a convenient option for banking. One of the best things about CIT Bank is that they have no monthly service fees on any of their accounts.
Their digital self-service capabilities are also a big plus. With CIT Bank, you can manage your money remotely by using their online and mobile platforms to move funds via wire transfer and manage mature certificates of deposit.
One of the unique features of CIT Bank's wire transfer capability is the option to choose the recipient type - an escrow company, intermediary, or standard recipient - which simplifies the data entry process.
Their online and mobile banking platforms are also very secure, with transactions kept safe through the use of a one-time passcode delivered by SMS message or phone call.
Take a look at this: Can Western Union Wire Money to a Bank Account
CIT Bank's Savings Builder account offers high interest rates, making it a great option for those looking to grow their savings.
Here are some key pros of banking with CIT:
- High interest rates, particularly for the Savings Builder account
- No monthly service fees on any of CIT’s accounts
- Low opening deposits ($100 for savings accounts and $1,000 for CDs)
- Minimal banking fees
Cons of CIT Bank
CIT Bank has some drawbacks to consider. Their online banking system can be glitchy at times, causing frustration for users.
Their mobile banking app has received mixed reviews, with some users complaining about slow loading times and difficulty with navigation.
CIT Bank's customer service is not available 24/7, which can be a problem for those who need help outside of regular business hours.
Their customer service hours are limited to Monday through Friday, 8am to 8pm ET, which may not be convenient for everyone.
CIT Bank's fees can be steep, with some accounts charging up to $25 for overdrafts and $30 for out-of-network ATM withdrawals.
Consider reading: Cit Bank Phone
Frequently Asked Questions
Does CIT Bank have physical locations?
No, CIT Bank is an online-only bank with no physical locations. Customers can manage their accounts and banking needs entirely online
Is CIT Bank a legitimate bank?
Yes, CIT Bank is a legitimate bank, insured by the FDIC, which protects your deposits up to $250,000. As a division of First-Citizens Bank & Trust Company, CIT Bank operates with the backing of a reputable financial institution.
Is CIT Bank connected to Citibank?
No, CIT Bank is not connected to Citibank, as they are two separate and unrelated financial institutions. In fact, CIT Bank was founded in 1908 as a Commercial Investment Trust, with no affiliation to Citigroup.
Who is the parent bank of CIT Bank?
The parent bank of CIT Bank is First Citizens BancShares, Inc., a division of First Citizens Bank. First Citizens Bank is the largest family-controlled bank in the United States.
Sources
- https://www.bankbranchlocator.com/citibank-w-california-pasadena-branch.html
- https://www.lisc.org/los-angeles/regional-stories/cit-bank-commits-150000-develop-next-generation-affordable-housing-leaders/
- https://www.bankbranchlocator.com/cit-bank/
- https://pasadenanow.com/main/cits-direct-bank-announces-new-digital-self-service-capabilities
- https://www.hustlermoneyblog.com/cit-bank-locations/
Featured Images: pexels.com
