"Transfeering money from CIT bank to external account takes 5+ business days."

I plan to file a complaint against this bank. I have proof to prove my point. I called and followed written instructions to withdraw my money. Today is the 5th business day the money has not been transferred. Please add some days if you open an account with this bank. Transfering your own hard-earned money to an external account takes way longer in today's world

Update: 11/18/23 Finally the amount was transferred to my external account. When you call, the customer service folks are super nice. They will assist you.
The bank needs to invest in technology a bit more. As you can read lot of folks were not satisfied that transfer takes longer. If this is a common complaint among many customers why not work on improving on digital transfer?

"Two issues since opening a Platinum…"

Two issues since opening a Platinum Savings account. First, when I transfer money to CIT, it takes an inordinate amount of time for the funds to become available. I transferred funds on 11/2/23 from my Chase Checking account to CIT Savings. As of 11/7/23, the funds are still not available! Additionally, I submitted for a wire transfer this morning at 8am ET and received an email back saying it was received and in process. At 1pm the same day, there is nothing on my online account indicating the wire is being processed or pending. There is no customer service chat option online. I called customer service and the system informed me the hold time would be approximately 44 minutes! Horrible c/s......seems this bank is completely overwhelmed and unable to do anything in a timely manner. I have an important transaction requiring the wire which I did first thing this morning, but have no way to know if there is an issue, if it's going through, anything. Plus, why does it take so long for my funds to become available? I transfer from the same Chase Checking account each month and it always takes in excess of a week for the funds to become available in my CIT account.....wondering if interest earnings are delayed when the funds aren't available......

"Looks more like scam than real bank"

Looks more like scam than real bank. They transfered twice as much money from bank to fund their account. Their App and online system down. No one to talk to... I am canceling my account

"Take a look at the best information available"

Take a look at the best information available on your own images and view your photos and see what you can do, see what they can do and find out more

"Do not trust them"

Not happy at all, sick of the bait and switch on interest rates.

I had a substantial amount in CIT's Platinum Savings account earning at the highest tier.

For 5 months everything was fine, because of compound interest each month the interest paid was going higher. On month 6 suddenly my interest payout was lower than it had been 3 months ago. According to my statement my interest rate hadn't changed and I had taken no money out of the account. According to every online interest calculator I used, I had been shorted $22. I emailed the CIT staff for an explanation, twice. After 4 days of them ignoring me they sent a boilerplate response about average daily balance etc. Well my balance had never changed. I sent them another email asking to see a detailed transaction statement for that month showing interest paid. They wrote back and said they wouldn't provide that. I am convinced they paid out a lower interest rate then they printed on my statement. When I looked at my online account info for this month, they had lowered my interest rate to 4.something. They are still advertising 5.05% on websites. The Fed has not lowered interest rates.

Bottom line, do not trust CIT Bank. They also do not have physical branch offices. This is my second bad experience with a pure online bank and it will be my last.

I transferred all my money out (I initiated the transfer at the other bank since I have read about the problems people have had transferring money out of the CIT side) and closed my account.

Also some bank review sites says CIT has online chat, it doesn't. It's email and telephone only.

"good rates, frustrating games"

it's true, they have the best rates- But their game is to not raise rates on existing accounts. So you have to pay attention and occasionally close and open a new account.

Another game they play is delaying transfers. Using your money for a week or two before they give you access to it. My latest ACH transfer cleared my donor account- CIT is now promising it will be "available" in 11 days- Pretty sketchy.
Give yourself two weeks transferring money in or out.

Online access can be pretty frustrating convoluted security steps. I spend a lot of time on hold trying to get access, at least a couple times a year.

"The good and the very bad"

Update - 12/28/2023
Seems as though First Citizens Bank is addressing the shortcomings with their online CITBANK that I previously reviewed below.
Citbank website portal has been greatly improved.
It's much faster, less clunky and first glance it seems like maybe they have the online version of Bill Pay working correctly now. No more hangups.
I had a feeling in time after purchasing Citbank First Citizens would get this corrected as I have been a First Citizens customer for a long time and their site always worked.

Anyway it seems like all is good with the website now, I will update if any further issues. For now I am moving my rating from 2 stars to 4 stars until fully confirmed that it works as it should. I expect it should.



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Original Post -
The good - Great savings interest rates
The bad - Totally inept, incompetent division of First Citizen Bank.
Summary-
Decades of online banking, the experience with CitBank is quite scary that they are even in business.
I have countless corrospondence with them. Their online checking and phone app is dysfunctional and their tech support clueless how to fix anything.

To this day bill pay does not work on their website using Safari. Numerous attempts to contact tech support telling them it does not allow to add new payee's. Know what they instructed me to do?
Add the payee on the phone app, then I can use the website to pay bills!

My advice, stay away from this bank UNLESS you choose to simply use it for a great interest rate. Use that savings account to transfer money to a more competent online bank checking account.

To this day *LOL* I cant believe I use CitBank it is scary but the savings rate is great other then that, its a "Nightmare on Elm Street"

"Denied instantly, no reason given despite perfect credit"

Well, I've never been denide a savings account before. I have perfect credit and plenty of cash to deposit. after fillilng out their online application I was instantly denied and no reason given. This is what it said. Not sure how "thorough" ther "review" was if their response was right after I hit submit.

Unfortunately, we are unable to open an account for you at this time
Thank you for your recent application for a CIT Bank account. We regret to inform you that after a thorough review of your application, we have elected to not open a bank account for you at this time. Thank you for considering CIT Bank.

"It’s the worst bank they will rip you…"

It’s the worst bank they will rip you off worst customer service. untrustworthy
Worst experience ever never use them again

"CIT is a Disaster"

CIT Is a joke.
Took two transfers from my account leaving me with a -$48,315.00 balance in my checking account. Had issue with filling out app online which is a confusing mess and I work in IT! The issue was a problem with their instant ACH verification with regard to verifying ACH. Was told by one of their "knowledgeable" phone reps that I needed to start again. Mind you, I had the log in credentials and the initial transfer amount wasn't showing what i requested as it was not showing in the amount box so I entered again and choose another ACH verification as directed by the rep.
Talked to a female rep who was giving information from some else's account. Not even after she asked qualifying question she was in the wrong account!!!!!!!! Wow!! Took two amounts out and they basically said tough cookies. So, it's your problem. Wonderful people on the phone.
Will be moving out of that mess quickly.
Stay away from these people. Half of the reps answering the phone give you different answers to the same question. Seems as though no one knows the right answer because it changes from rep to rep.
Horrible place to do business. Horrible customer service. Now I have checks out that will bounce thanks to the knowledgeable folks at CIT.
Again, CIT would not cover the small amount of bank fees associated with their mistake. So I'll move out my upper 5 figure amount to another bank.
Wish there was a place for negative value stars.
Stay away!!!!!!!!!