Citizens Bank review: Brick-and-mortar bank on the East Coast that refunds some overdraft fees

Citizens Bank has branches in 12 states on the East Coast.

The bottom line: You may like Citizens Bank if you are looking for a brick-and-mortar bank and live on the East Coast. The bank’s Citizens Bank One Deposit Checking Account and Citizens Bank Personal Money Market Account come with Citizens Peace of Mind, a program that refunds overdraft fees. 

Overall bank rating

FeatureInsider rating (out of 5)Savings3.5Checking3.75Money market3.5CD2.75Trustworthiness4Total3.5

Pros and cons


No minimum opening deposits required

Citizens Peace of Mind reimburses overdraft fees if you deposit money into your account within one business day

Possible to waive monthly service fees

Only available on the East CoastMonthly service fees Pays low savings ratesInterest compounded monthly, not daily


The Citizens Bank One Deposit Savings Account doesn’t require an opening deposit and waives the monthly service fee if you’re a minor, young adult, or senior. 

If you’d like to earn a higher interest, our best savings account guide will have some more compelling options to consider.


The Citizens Bank One Deposit Checking Account is a solid checking account with no minimum opening deposit. It waives the monthly service fee if you deposit money into your account at least once a month.

While the bank still charges a $37 overdraft fee for overdrawing, it has a unique program for reimbursing these fees. Through Citizens Peace of Mind, the bank refunds overdraft fees on any checking or money market accounts if you deposit money into your account before 10 p.m. ET the next business day. It may be more difficult to get a refund at other brick-and-mortar banks.


Citizens Bank has limited Citizens Bank Certificate of Deposit and pays a pretty low interest rate regardless of which term you choose. If you have to withdraw money from your CD before it matures, you’ll also have to pay a hefty early withdrawal penalty. 

If you’d like to earn a competitive interest rate on a CD, look over our best CD rates guide for stronger contenders.

Money market account

The Citizens Bank Personal Money Market Account might be worthwhile if you plan to keep at least $2,500 in your account daily, so you don’t have to pay a monthly bank fee.

Otherwise, the bank’s checking account is likely a stronger option if you’d like easy access to your bank account, and online banks pay higher rates if you’d prefer to focus on growing your money.

How Citizens Bank works

Citizens Bank has more than 1,000 branches and  3,100 ATMs along the East Coast. You may want to consider the brick-and-mortar bank if you live in the following states:

ConnecticutDelawareMassachusettsMichiganNew HampshireNew JerseyNew York OhioPennsylvaniaRhode IslandVermontVirginia

For questions about your bank account, call customer support from 7:00 a.m. to 10:00 p.m. ET on weekdays or from  9:00 a.m. to 6:00 p.m. ET on weekends.

The bank’s mobile app is rated 4.7 out of 5 stars in the Apple store and 4.2 out of 5 stars in the Google Play store.

Citizens Bank is FDIC insured, which means up to $250,000 is secure in an individual bank account. 

Is Citizens Bank trustworthy?

The Better Business Bureau rates banks based on whether they respond effectively to customer complaints, advertise honestly, and have transparent business practices.

Citizens Bank received an A+ rating from the BBB. A strong BBB rating doesn’t necessarily guarantee your relationship will be the same as other customers’ relationships, though. Consider reading online customer reviews or talking to customers of Citizens Bank to see if it might be a good match.

The bank has been involved in one recent public controversy. In 2020, the Consumer Financial Protection Bureau filed a lawsuit against Citizens Bank that said the bank violated the Truth in Lending Act because it didn’t effectively address customer issues regarding credit cards.

How Citizens Bank compares 

We compared Citizens Bank to two other financial institutions along the East Coast: TD Bank and Santander Bank.



Over 1,000 branches and 3,100 ATMs


Over 1,200 branches and 2,700 ATMs


Over 575 branches and 2,000 ATMs

Standout feature

Checking account with no minimum opening deposit

Standout feature

Variety of checking and savings accounts


Standout feature

CDs with no minimum opening deposit

Citizens Bank One Deposit Savings AccountTD Simple Savings AccountSantander® Bank, N.A. Savings Account

Choosing between these three banks could likely come down to which state you live in.

TD Bank is the only bank with branches in Florida, Maine, Maryland, North Carolina, and South Carolina. Citizens Bank is available in Michigan and Ohio, while TD Bank isn’t. 

If you’re are looking for specific bank accounts, your preference may also vary greatly.

TD Bank and Citizens offer more appealing checking accounts than Santander. The TD Bank Beyond Checking Account doesn’t charge out-of-network ATM fees and reimburses two overdraft fees per year. With the Citizens Bank One Deposit Checking Account, there’s no minimum opening deposit, and you’re eligible for overdraft fee refunds if you restore your account balance promptly.

You’ll probably prefer Santander if you want to open a traditional savings account or CD. The Santander® Bank, N.A. Savings Account pays the highest interest rate of the three banks and lets you waive the $1 monthly service fee if you have $100 in your account. CDs also have a low minimum opening deposit. 

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Personal Finance, Savings, Citizens Bank, Citizens Bank One Deposit Checking, Citizens Bank One Deposit Savings, Citizens Bank CD, Citizens Bank Personal Money Market Account, TD Bank, TD Bank Beyond Checking, Santander Bank, Santander Savings Account, National Banks, PFI Reviews, bank reviews, Personal Finance Insider, pfi, PFI-XAMP, PFI Related Content Module, PFI Short Code, PFI Product Card, Savings, Checking Account, Money Market Account, CD, TOC-jump-to, SJ Graphics, Alyssa Powell, PFI GOBankingRates

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