"I recently applied for a high yield…"

I recently applied for a high yield savings account with CIT. Let me start by saying that I am applying to GIVE them MY money, not the other way around. And, I have perfect credit. They denied my application!!! And for reasons that are so obscure and incomprehensible. When I called to ask for an explanation, they couldn't give me one. I had to call another agency to try and get info, wasted a ton of my time, and still got nowhere. Stay far away from these people -- nothing but a huge waste of time.

"Their shady tactics disgust me."

My husband tried to open a savings account with this company, and they were absolutely the worst. They kept asking him to submit the exact same documents over and over again, dragging out the process for no clear reason. How about just coming out and saying, "Uh, we don't want your business"?

But the moment he told them he had decided to go elsewhere, they immediately responded with:

"Thank you for your recent application for a CIT Bank account. Per your request, we have canceled your application at this time. Thanks again for giving us a chance to earn your business!"

So, they could respond quickly when it suited them, just not when it actually mattered.

Avoid this company like the plague. If "YUK" were an option, that’s what I would give them. On second thought, maybe not just a YUK, but a YUK YUK on turbo.

Their shady tactics disgust me.

"Never had a problem"

Never had a problem. The interest rates are high, but the service is limited. It is not a full-service bank but rather a great place to put emergency savings. Your savings are insured by the federal government.

"Find another bank"

I wish zero was an option! I was debited my last payment only to find out they put a loan termination fee for being a great client and fulfilling my obligations. They also added insurance that should not be on last payment because the balance to them is $0. Why do they want to insure an account with a $0 balance?

"If there was a zero star review"

I opened an account with citi bank a few years back and everything was good, other than their incredibly high interest rate. It was a substantially large amount of credit available, suddenly I was cut completely in half which maxed out the card. Paid off the amount and swore to never use the card again but it is handy for flights and miles so I gave them another shot. Low and behold I purchased some flights and put a few thousand on the card and the decreased my credit line again to max out the card for a second time. They done all this with no just cause, I have never made a minimum payment or been late, not once!!! They have done this on a couple cards, citi bank is a joke that screws over customers then gives you some nonsense excuse as to why. Screw you citibank!!

"Phone timeliness"

Moving significant funds into the platinum savings account, and wanted to remove two linked banks from a prior old account. Called Saturday and waited 25 minutes before I hung up, and then called Monday - somebody answered after about 13 minutes. I feel this is an issue and does not instill confidence (though George , the phone rep was very good). I was ready to move my new money back over to another bank that I know is more responsive on the phone, even though it was a slightly lower interest rate.

"200k+ frozen due to employee incompetence"

Needed to get a power of attorney activated and a regular savings account converted to a trust account for my very elderly father. Over 200k in this account.
Was told it was just a matter of uploading a couple of documents (signature page and trust certification) and it would be converted. Did that. No action until I was calling a supervisor on an almost daily basis to move things along. Received notice that his personal savings account was converted to a trust account. Problem is that they only listed my very elderly dad as the trustee. The estate planning
“specialist” who did the paperwork didn’t review a paragraph in a one page trust certification document indicating there was more than one trustee in the trust. Emails to the estates department and trust department about this serious problem continue to go unanswered.

I called and spoke with the supervisor who was working with me on this situation. Told me that if my dad wanted to have more than one trustee I had to create a joint account with my dad, and then convert that to a trust. Then wait for everything to process, which could be another 9 days on top of the delays it took for them to ultimately create this mess. He couldn't help me more because he was working on a "fraud" case and had to go. Apparently that is more important than the active conversion of over 200k in funds undertaken by the gross negligence of another cit employee.

I asked to speak to a manager (someone above supervisor) to get this resolved today. I was told that they are all in a meeting, but assured me that someone would get back to me today. Supervisor told me he didn’t think the manager could do much anyway. I told him I wanted to get all the money transferred out of that account through an ACH transfer to a bank already on file. I am legally allowed to do this according to their banking terms. I am poa and also a trustee on the filing of the trust application they botched. My dad wants this money out. Supervisor said I should not do this until I speak with a manager, and it was up to them. I could run into problems if I did. I assume the "problem"will be freezing his account. I asked if I could close the account and they said they’d have to “authenticate” my father before a check could be mailed out.

As expected, I never received any callback from a manager. I also anticipate that the account will get locked when very elderly dad will not be able to authenticate their questions. Due to the gross negligence of one of their own employees, they have created a situation where my father will not be able to access these funds and we will need to hire a lawyer to fight them. We have a very large firm on retainer ready to go, but this will be an expensive process.

My father and I want the money he has in CIT transferred by ACH transfer to another bank that is on file. I want CIT to clean up the mess they have created through their gross negligence. They need to revert that trust account back to his former personal savings account. My POA needs to be activated immediately. What they have done is not only unprofessional, but also unethical, illegal, and constitutes elder abuse.

"Confidence to open an account not high at this point"

So far, I am rating the opening an account process a 3 but I am in a holding pattern. I started this process 7 business days ago and no micro deposits have started, although they say in 3-5 days and they also had me transfer the minimum of $100 to open the account. I am confused isn't the $100 suppose to take place after the micro deposits have been confirmed and that the two institutions are connecting properly?

Next and more serious of an issue and something I see mentioned in one of the reviews here and on other social media sites as far back as one year ago. When you attempt to logon "as a new customer", the app wants to send a SMS code to your mobile phone, however, the dropdown box shows portions of 3 cell phone numbers (**********####) which are grayed out and not editable AND do not relate to me or my household. I am highly concerned why my phone number is NOT listed in this section ??

I have spoken to two representatives at CIT during the application opening process and they provided two very different explanations as to those unrelated phone numbers. So they were not on the same page or in the same training class. Therefore, customers are not getting consistent or correct information when it comes to account security just to open an account! I read on this site that the person was trying to close their account and they had the same issue with unfamilar phone numbers showing so that knocks out the reason my rep said it was showing incorrect phone numbers because the account isn't set up yet?

If this account can't be opened by Friday (3 days away) which would have been 10 business days to set this account up, I may have to reconsider this online savings account at all with CIT group. I was leaving Marcus by Goldman Sachs because CIT had a considerably higher interest rate but I am not at a comfortable level yet.

"Polite customer service."

Customer service agent was very polite.

"Lousy customer service"

I withdrew my entire savings from CITBank months ago because of inept customer service and long wait times to reach a human being. Now that I want to officially close the account I get into a circular loop that keeps bringing me back to ways to access my account. I can't message the bank because one needs to access the account to send a secure message. A message comes up to send an SMS to my phone, but the 4 digits that show as part of my phone number are NOT my phone number. So glad I pulled my savings out. This organization should be shut down.