CIT  Reviews 516

I was opening an account and when it came time to fund the account with a wire transfer, the funding bank had to be verified. After the verification was done a couple days later, I checked to see if there was a pending transfer for the amount I said I wanted to fund the account with. There were no pending transfers showing on their website. I then initiated a transfer for the original amount. Now, there are two transfers and will overdraw the account. I contacted CIT and they cannot stop the transfer they initiated. Very bad customer service.

I opened a high yield savings account with CIT bank. The interest rates appear to be better than most, however, there is no option to add a mailing address. My primary address is in a rural area that the USPS doesn't deliver to and therefore they provide a free PO box at the post office in town. With other banks you can enter a mailing address in contact information. I always enable electronic delivery of documents, but if CIT bank were to ever mail a statement, notice, or document, I might not receive it.

CIT will not honor their savings account interest rate quote, and will not respond to my calls/inquiries to get this resolved. I qualified for a 12-month interest rate bump on my savings account, but the higher rate will not post to my account. I have called customer service three times and uploaded their own confirmation documentation as proof. I was told that a manager can resolve this and one will call me. Never happened.

Update:
A few days later, a CIT manager did call me. The issue has been resolved and my account shows being credited at the correct interest rate.

I tried to open an account and was denied. My wife tried and she was denied. We both have extensive banking histories, have lived in our present home for 14 years, and both have credit ratings over 820. They said the the application was flagged but gave no reason for it. Went to another bank offering a similar deal and was approved in 5-10 minutes. Their system seems to be junk. I'm glad I actually wasn't able to open an account with them , I don't think they are trustworthy.

I needed to send a wire transfer for a real estate purchase. CIT Bank is apparently incapable of sending a wire to anyone and will transfer you from service to service for hours, promise to call or email you back and not act on their word.
I went back and forth with them for several days and their incompetence made me miss my closing deadline

Their New Account for savings is a scam. They just want to get access to your linked accounts.

I opened a high yield savings account. I’m getting a very good interest rate. The app is easy to you. It’s easy to move my money around. No issues. Highly recommend.

I normally leave reviews on google, good and bad, but since CIT has no address there isn’t an option. I would have left a very good review, they answer the phone quickly, are friendly and helpful. The only problem is they do not tell you the truth or anything you can rely on. I opened an account, verified it was in the promotion, put in what to me is a very large sum of money to get the maximum promotion bonus and waited the 30 days. I was told by some people I was in the bonus, by some I am not after the 30 days. I can’t get verification that I will be paid the bonus from anyone in writing. I met the requirements, was told my account was enrolled, and now after being told yesterday I had already earned the bonus, told I am told my account isn’t even enrolled. Certainly not worth $300. I would avoid like the plauge.

A bank with very poor customer service which are also very difficult to contact. Don't waste your time, my suggestion is go to another bank - CIT may pay another 0.5% interest but it is not worth the stress of dealing with them. I just opened a new Platinum account and transfered my funds there over 1 week ago and the funds are still not available. I'm not sure why it takes more than 1 week to transfer funds from one bank to another but it takes longer than 1 week at CIT Bank.

Had a great experience with CIT Bank. Today I attempted to log in and was asked which phone number to send the 2 factor authentication code to. They listed two numbers I did not recognize! I assumed this was my fault so I attempted with an incognito window to ensure cache/cookies was not causing the issue and the same thing occurred. I googled this issue and discovered this has been happening to others for over a year with CIT Bank customer service replying they do not know why this would occur. I am closing this account immediately - definitely cannot trust.

HORRIBLE- save yourself the stress. They have higher than standard rates and it's not impossible to get ahold of customer service. HOWEVER, their online portal is a joke. I requested a wire transfer to be debited from my account. It has a standard 2step verification process, where they send you a verification code to your phone via text. I entered the verification code...it responded with "your code has expired" it took me back to the submission page where I resubmitted, got a new code, and it went thru...TWICE. Called the bank immediately when the recipient informed me they got twice as much. CIT bank determines it was not their fault, (but it was their website), and that I need to get the money back myself. Still have yet to get my money back and it's been 4 days. Not the way I want my money handled and definitely doesn't seem to be a trustworthy operation since the "wire department" didn't think 2 identical wires within seconds apart was flag worthy of making a phone call to confirm (in order to avoid this situation).

All was good until it wasn’t. May work out in the end I truly hope but for now such stress. We opened a savings account online. Significant amount. My husband was the second on the account. He isn’t good with technology. We are traveling internationally and all of a sudden I can’t login. After calling I’m told they sent a letter snail mail and emailed him. The person checking our mail did t see anything. I’ve done a search of his emails but found nothing. They say he needed to verify himself. This is a couple of months in. So our moneys been returned due to no response. We hope. Once again snail mail with no certified letter option. Is this even done these days? Evidently so. So now the wait is on. Will we or won’t we get a check in the mail? I’ve never heard of this. Why wouldn’t they notify me? The woman on the phone says “are you aware your accounts closed?” 😲🤯😡. “No. No I am not aware of that!!”

Take your money elsewhere. I applied for joint savings account. I am employed full time, own my own home, have an excellent credit history, have banked with my current bank for decades, yet they rejected my application. When I called to ask more details on this decision, the CS rep just read the email they sent me and could not give me any clue or refer me to
someone who could. Given other reviews, it loos like this bank is not worth the hastle, if they are so scrupulous about basic savings that requires only$100 to open. There are plenty of other options like Sofi Bank, Discover Bank, etc. I’ll be shopping these. Good riddance!

And their reply says it all. Facebook
link? really?

First of all, I want to say this is NOT a review of the app or the whole online banking experience in general - it's not good, but it pales in comparison to the truly godawful aspect of the place. What I'm going to attempt to stress is how GROSSLY incompetent (to the point of being inexplicable) the customer service (humans you speak to, if I need to clarify that) reps are (unless you're calling to open an account). I'm not young - I've been contacting businesses for many decades - and the experiences with this place are unprecedented. I'm assuming that has to do with the high interest rate I'm getting and the fact that cutting all other aspects of the business to the bone is necessary, but no. I man, hard no. I'm going to end by stating the obvious .... this ridiculously inept service does not exactly inspire confidence. Understatement.

When I initially opened a savings account in early 2024 and opted in for paperless statements, I received a monthly email notifying me when statements were available. This lasted about three months. Starting in July 2024, the email notices stopped. I contacted them several times requesting the problem be resolved. Each time I received identical canned responses...sorry for the inconvenience, this is how you can download a statement (like I'm an idiot and couldn't figure that out for myself), and we are working hard to fix it. By March 2025, 9 months without an email notice, I'm done. Never got the sense they cared at all. Only reason for the second star is competitive rates, but their customer service negates that benefit.
Update 3/11/2025: CIT's reply reinforces my review. Instead of addressing their inability to generate email notices when statements are ready, they offer to help me retrieve statements, which I've already downloaded.

I typed in all the info required only to get told I couldn't open an account at this time. NO reason, NOTHING. I think it's a little shady that it's AFTER you input address, SS#, phone # etc. This was the second time. I'm only sorry I didn't see all these crap reviews on Trustpilot earlier. Not that it will matter but I'm reporting this to BBB and CFBP.
HAHA Just tried to file a complaint with BBB. CitBank / First Citizens Bank are not registered with them. Big surprise! No wonder all the crap reviews here.

I don't understand the negative reviews for CIT bank. They do have some quirks that are not ideal (some they have fixed), but they have been great for me for many years.
They are the FASTEST at ACH in & out that I have even seen, and I have banked at many, many different banks & credit unions. Literally 1 biz day, tops 2 depending on when you put in the ACH request. And they don't have inane low limits to daily/monthly transfers. They are my primary bank to hold (great Plat Savings rate) & move $. I transfer $ in and out often.
If you ACH transfer in (Pull $ in, request originating from Cit), yes, they put a 5 biz day hold on the $ regardless of the amt. You still earn interest on that $ during the hold. Most banks have a hold esp for larger $ amts, I don't consider that unusual. There are many fraud events when someone 'deposits $' and then turns around & immediately withdraws it (if the bank lets them). Then it turns out the $ deposited bounced or was recalled because it was fraudulent. Yeah, that's why there's a 5 day hold to make sure there's no fraud going on. If another bank pushes the $ into Cit bank (other bank initiated the deposit into Cit bank), the $ is available immediately.
I don't know about the problems people have wrt opening new accts as a new customer. Since I have been a long-time customer, if I ever want to open an acct, it is easy peasy and takes only a few min. I guess once you are a customer, they don't need to check if you are who you say you are anymore. I guess they take their 'get to know your customer' federal mandate very seriously.
They do now have a line in each acct showing pending ACH $ movement (in/out) initiated at Cit bank. This was a complaint I had before. When you put in an ACH xfr request, when it was the day or day before it was to execute, all trace of the pending action disappeared. It confused me, 'cause I wasn't sure anymore if I had scheduled it or not. But it was scheduled, and then a day or 2 later the fully executed transaction would show up. Not good operational transparency on their part, but they fixed that.
They did tend to create new-named savings accounts with higher interest rates (so if you had 'older' savings accts, you didn't get the higher rates), but they seem to have stopped that in the last 5yrs or more. They are now sticking to their Plat Savings acct which has a $5K min to get the high rate, and the rate is one of the highest for unlimited max balance.
You can't email them from website access anymore (do not like this), but you can email them from the Cit app. Yeah, they are pushing app use. I call them and my wait times have been sporadic. But I just put the phone on speaker and go about doing my other business. Most banks have not-great wait times when calling in by phone, if they even have a tele# to call (Star One Credit Union is the lone exception -- they are fantastic at customer service & I do bank there, but their savings rates are never on the higher end).
Anyway, all-in-all, I would highly recommend Cit bank.

Transferred large amount in Bank to Bank, Needed some back for an investment. Bank shows receipt of funds 03/06/25 Found out today they have a 5 business day hard hold on the funds. Although the rates are good. I cant risk not have my funds available for that length of time. I would check what the Banks hold times are. That is an extremely long hold time in this day of age!

I have never had so much trouble opening an account in my life. And that includes the time before the computer age, when everything was done by hand.

I recently sold some securities so I checked Bankrate, Nerdwallet, etc for institutions offering competitive interest rates. I selected the Platinum savings account by CIT.

Seven days ago I began the process. I provided them with everything they asked for. I then received a message stating that they would need more information and would contact me in 3-5 business days. I began the process on a Wednesday. On Tuesday of the following week I received a message asking me for two more documents relating to proof of ID. First of all, that is an outrage! They must have known that they would require this on the initial application routine. Whatever. I uploaded the requested documents the same day that I received the request. CIT replied that the uploads were successful. But today (seven days since I began the application) I still have not heard back.

I also want to echo the other complaints that I see here about the inability to contact them via email. On the initial application I provided them with two phone numbers, a landline and a mobile. But after signing in successfully with userID and password, they want to send a code via telephone. However, like others have commented, the three four-digit choices they provide do not correspond to either of the telephone numbers that I have provided.

So for the past week I have >$100K sitting in a checking account, not collecting interest, and no idea when or if I will be approved for the CIT Platinum savings account.

Update on 03/06: OK my account has FINALLY been approved. Should have not taken that long.

I had a terrible experience while speaking with CIT customer care over the phone regarding the new account opening process. When I attempted to open an account, I received a message stating that my request could not be completed, but no reason was provided. I contacted customer care for clarification, but they had very limited information and could only offer general explanations for why my application couldn't be processed. They also mentioned that there were no notes indicating the specific issue with my application. When I asked for an email address to contact another support team, they didn’t have one to provide. Overall, a very frustrating experience.