CIT Bank Reviews 11

What is going on with some of these online bank accounts?! This is the 2nd one that I have to write a negative review.
I have used them for a while due to them being one of the highest interest rates on High Yield Saving Account (HYSA). However, for the past couple of months, I have had issues with logging on to their mobile app. Balance not updated correctly. Unable to add their ABA and account # to other finance institutions.
Although some of these situations have been resolved or I can use a workaround, it is just unacceptable that they could not contact their customer? You have to open a secure message online in order to submit a ticket. On this latest issue with unable to login via the mobile app, I also provided a screenshot. The CS closed the ticket and said IT Team has addressed the issue. I "reopened" the ticket and said it has not and requested the ticket not to be closed until it has been truly fixed. Of course, the ticket got closed again. They asked me to call Customer Contact Center...uh, they couldn't call me?

So my final thought. They do have one of the highest interest rates at the moment, so that is a positive. However, my money is still my money. Lack of customer service and not knowing if my money is protected is important to me. So it is time to move on to another institution for me.

I had an "!" in my password, which suddenly became a character that the genius CIT developers don't allow to be used in any passwords when they did their last security update. Suddenly, I couldn't log on using my old password. To make things even weirder, the developers automatically changed the "!" to another special character WITHOUT ALERTING ME. All of this happened the day after I transferred part of my balance to a higher-yielding account at another bank, so for about 15 minutes, until I was able to change my password, it seemed like my bank account had somehow been hacked as a result of the transfer.

The fact that CIT developers couldn't be bothered to issue an email alerting account owners about these changes now makes me suspicious of how well my money is being protected by these clowns. I'll be looking to transfer my entire balance elsewhere.

I originally opened a HYSA with CIT Bank and had no issues. But once I switched my checking account over, everything went downhill. Getting access to your own money is frustratingly difficult with this bank. Their ATM withdrawal limits are unreasonably low. Zelle transfer limits are also very low. Need a check? Forget it! They don’t even offer that option. Have a check over $10K to deposit? You’ll need to mail it in.

To make matters worse, even their staff seem poorly trained. A supervisor confidently told me there were no wire transfer fees. I asked her to repeat it twice before I pointed out that, in fact, CIT charges $10 for every wire transfer. That says a lot about the training and accuracy of information at this bank.

If you value convenience, flexibility, and accurate service, you’re better off with a big bank or a local credit union. My advice: do not trust CIT Bank with your money.

These negative reviews are puzzling. My online experiences have been great. I only have a savings account. The saving rate is among the best in the nation. Transferring money to and from is easy and seamless.

I've never needed to call customer service so I can't comment on their service but my banking needs for this account are very simple. Put money in and watch it grow FDIC-insured. Take it out on a rainy day.

The combination of unresolved OTP/MFA issues preventing access to accounts, unwarranted and unannounced disabling of accounts, and customer service failures raises the possibility of a broader pattern or scheme. By disabling my account without notice and failing to inform me of their actions, CIT Bank effectively attempted to seize my funds.

CIT Bank’s response to my CFPB complaint suggested I contact my mobile carrier to resolve OTP issues, despite the fact that the OTPs were delivered successfully to my device but not recognized by their system. This is both irrelevant and insulting, as it shifts the burden of fixing their own technical failures onto the customer.

Despite acknowledging their mistake, CIT Bank failed to outline any meaningful steps to prevent such issues from happening again.

Given the severity of these issues, I asked the OCC to investigate CIT Bank for:
- Their recurring OTP/MFA failures and whether these technical issues are being deliberately ignored.
- Their internal processes that allow accounts to be disabled without notification or alternative access to funds.
- The inability of their customer service team to address known issues, including whether this is part of a deliberate strategy to prolong disruptions.
- Whether CIT Bank financially benefits from holding customer funds during access issues.

I hope the OCC will investigate these matters and hold CIT Bank accountable for their practices. Until then, you are warned!

Terrible policies and customer service. Put your money in and good luck getting much of it back out of their bank. Their online banking system does not work well at all, and their customer service leave you on hold forever, and then is rude and unhelpful. I tried to pull most of my money out and then the games began I got a portion of it out but i am still fighting to get the rest. Customer service plays games and lies, the banks policies are designed to prevent or at least delay you getting your money as much as possible.

I use multiple different banks to manage money for various family members. Most are pretty easy to deal with. CIT Bank is awful to deal with. Their interest rates are a few tenths of a point higher, but it is absolutely not worth it. Go elsewhere. There are better options.

CIT bank sent me email saying CD matures within next 30 days. But no instructions on how to close CD or transfer funds. A very kind employee on the phone could not do it either. After a long wait, she found out that one can only do it by phone the day AFTER the CD matures. She then explained that I could set it up in advance by using a secure message, using specific phrasing and all the account numbers involved.
Why doesn't CIT bank have this info available?

Another gripe I have about CIT bank is that they won't allow one to use a passport manager. CIT is remarkably user unfriendly.

App and website are all but useless with major bugs and terrible, unintuitive interface that regularly seems to forget the settings I’ve put in place, especially login settings. ACH transfers have so far taken 4+ business days (should take a few hours to 2 business days) and so I have no access to these funds. Wish I hadn’t listened to NerdWallet on this one and am now stuck waiting for who knows how long to have access to my money so I can transfer it back to my original savings account. The interest rate isn’t worth the overwhelming bullsh*t.

Crappy customer service, shady practices. I set up a savings account here lured by great initial interest rate. It got worse and worse. Then by accident I found out they launched a different savings account, with a different title, that was paying several percentage points more than what I was getting! Thanks for telling me :(. When I called, they easily moved my money into the new account - but failed to tell me they were setting it up for online statement delivery, without asking, even though I had previously requested everything by mail. When I went looking to see why I wasn't getting my statement, I found this out. And while you can switch from paper to online on the website, you have to CALL them to switch to paper. And of course the call center is closed now.

As soon as this interest rate drifts down, I'll be looking to move my money to a better bank.

This bank allowed a stranger to make phoney unauthorized withdrawals from my account. Some of them were through their ATM machines. I asked to see the photos of the person who made such withdrawals (the bank had the specific tie and date along with the exact location of their ATM machine) and this “bank” simply refused and not returned my money.