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CIT Bank Online Banking

30-Second Review

CIT Bank is currently an online-only service, though their solid banking history dates back to 1908, with competitive annual percentage yields (APYs), zero fees, and now convenient digital access. Enjoy the freedom of online banking, extended customer service hours, and small minimum deposit requirements, all while earning impressive interest rates on your savings and checking accounts.

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  • Competitive APYs: CIT Bank offers competitive annual percentage yields (APY) on its various accounts, including a 5.05% APY on its Platinum Savings account.
  • No Fees: The bank does not charge unnecessary fees, including ATM use, and provides up to $30 per month in reimbursements for fees charged by out-of-network ATMs.
  • Security: Depositors with CIT Bank are insured by the FDIC against losses of up to $250,000, plus two-factor authentication and SSL/AES encryption safeguard their accounts.
  • Small Minimum Deposit Requirements: CIT Bank accounts have low minimum deposit requirements, making it accessible for a wide range of customers.

Pros and Cons


  • Interest Rates: Find competitive APYs across various accounts.
  • No Fees: This includes monthly, overdraft, and out-of-network ATM reimbursement fees.
  • Customer Support: Enjoy extended business hours seven days a week for customer service phone calls, enhancing accessibility for account holders.
  • Mobile Features: CIT Bank's mobile app is highly rated and includes features like digital check deposit, providing convenient access to banking services.


  • Digital Only: CIT Bank performs all services online, limiting in-person services such as ATM networks, physical checkbooks, and branch locations.
  • Limited Products: Traditional bank offerings of IRAs, auto loans, or credit cards are not provided by CIT Bank.

Final Thoughts

CIT Bank offers competitive APYs and a range of personal banking products, including savings accounts, eChecking accounts, and money market accounts. CIT Bank reserves the right to change interest rates, fees, and other pricing. To see the most up-to-date information, please visit their site here:

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While it lacks physical branch locations and an ATM network of its own, CIT Bank provides accessible, fee-free banking with a strong focus on digital convenience. Customers can benefit from extended customer service hours, excellent mobile banking options, and robust security features, all while earning competitive interest rates on their deposits.

Frequently Asked Questions (FAQ)

Opening an online bank account is remarkably simple. In most cases, the process can be completed within 10 to 15 minutes. Streamlined digital applications, reduced paperwork, and quick verification make it a hassle-free experience, saving you time and effort.
Depositing and withdrawing money online is a quick, easy, and secure process. To deposit, you can transfer funds from another account, set up direct deposits, or use mobile check deposit features. For withdrawals, you can transfer funds to another account, use ATMs, or request electronic transfers.
Manage bills and payments with efficiency through your online bank account. Most online banking platforms offer bill pay services, allowing you to schedule and make payments to various recipients. You can set up recurring payments, view payment history, and receive alerts to ensure all your financial obligations are met conveniently and on time.
Many online banks partner with ATM networks providing access to physical access to ATMs nationwide, with some banks even reimbursing customers for out-of-network ATM fees.
Yes, online banking is generally safe so long as you select a reputable financial institution. Robust encryption, secure login procedures, and routine monitoring protect your financial information. Many also offer two-factor authentication for added security. Additionally, government regulations FDIC insurance provide further safeguards, making online banking a secure choice for managing your finances.