FIrst Citizens Bank review

Reviewing First Citizens Bank: Discovering Its Advantages!

First Citizens Bank, originally known as the Bank of Smithfield, has been serving customers since 1898. It began with a modest capital of $10,000 and focused mainly on agricultural customers in Johnston County, North Carolina. Over time, the bank expanded its branch network to other areas, including Raleigh and Eastern North Carolina.

Today, First Citizens Bank stands as one of the largest family-controlled banks in the United States. It has thrived for three generations under the guidance of a single family. With $110 billion in assets, the bank operates over 500 branches across 23 states in the country, catering to the financial needs of individuals and businesses.

As a bank committed to providing comprehensive banking solutions, First Citizens Bank offers a wide range of products and services. Their offerings include personal checking options, credit cards, loans, and mobile banking facilities. By acquiring banks in various states, First Citizens Bank has successfully expanded its branch network beyond North Carolina.

One notable acquisition involved a West Virginia-based bank, which enabled First Citizens Bank to establish its initial branches outside of North Carolina. Additionally, the acquisition of Atlantic States Bank, a federal thrift subsidiary, allowed them to serve the Atlanta market. Through strategic acquisitions and consistent growth, First Citizens Bank has strengthened its presence across the United States.

A Closer Look at First Citizens Bank Checking Accounts

Free Checking Account

• No Fees: Opt for paperless statements to avoid monthly charges.
• No Minimum Balance: No need to worry about maintaining a minimum balance.
• Convenient Banking: Enjoy the benefits of free Digital Banking, bill pay, and 24/7 mobile deposits.

To open a Free Checking account with First Citizens Bank, you’ll need to make an initial deposit of $50 or more. As a new account holder, you also have the option to choose your preferred level of overdraft protection.

Once your account is active, you’ll gain access to a range of convenient features. From free online banking tools to efficient fund management and tracking, First Citizens Bank provides the flexibility to pay bills from any device and easily transfer money to other accounts. Additionally, their partnership with Zelle® allows you to securely send money to friends and family.

Moreover, when you link your debit card to digital wallets like Apple Pay® and Samsung Pay®, you experience added convenience and security. First Citizens Bank’s proactive protection feature enables you to track and manage your finances effectively through services like online tools and account alerts. With text and email alerts, you can securely monitor your account activity. The “Manage My Money” trends tool also helps visualize your spending habits.

Premier Checking Account

• Earn Interest Income: Opt for an interest-bearing Premier checking account for your money to work for you.
• Preferred Rates: Enjoy better rates on CDs and home equity lines of credit.
• Banking Convenience: Experience free Digital Banking, bill pay, and 24/7 mobile deposits.

If you meet any of the following criteria, you can avoid the $18 monthly fee associated with the Premier checking account:

• Maintain a combined daily balance of $5,000 or more across select accounts.
• Receive monthly ACH direct deposits of at least $4,000.
• Have an equity line of at least $25,000.
• Hold an original consumer loan of $10,000 or more.

To open a Premier checking account, you’ll need an initial deposit of at least $100. With this account, you earn an annual percentage yield (APY) of 0.05% on your balance.

Prestige Checking Account

If you have a significant checking account balance, First Citizens Bank offers the Prestige Checking account, providing a premium banking experience.

By qualifying for Prestige Checking, you gain access to a range of exclusive benefits, including competitive banking rates and the absence of banking fees. Additional perks of the Prestige Checking account include:

• Exclusive Prestige Banking Benefits: Enjoy free services like cashier’s checks, money orders, and travelers checks.
• Best Rates: Save on home equity lines of credit and earn higher returns on CDs.
• Superior Convenience: Access your Prestige account online and use any ATM at your convenience.

Requirements for Opening an Account

If you wish to open an account online, please ensure you meet the following criteria:

Who Qualifies for Prestige Checking?

To qualify for Prestige Checking, you must meet the following requirements:

• Be at least 18 years old.
• Reside within an area where First Citizens Bank operates.
• Provide a minimum opening deposit of $100.

Applying for a First Citizens Bank Account

Ready to take the next step and apply for your First Citizens Bank checking account? Here’s how:

Written by

Claire Harrison