First Citizens Bank Review

Is First Citizens Bank worth it? For checking, yes, if you want a real branch and a $0 account. For savings, no. Its Online Savings account pays 0.10% APY, and you can do a lot better than that online.

The one place its rates get interesting is short-term CDs, where the online promotional CDs pay as much as 4.00% APY.

First Citizens is a big bank. It’s a top 20 U.S. financial institution with more than $225 billion in assets and more than 600 branches and offices nationwide, and it has been around for more than 125 years.

First Citizens Bank

3.5

• APY: N/A
• Minimum Deposit to Open: $50
• Balance Requirement: $0
• Monthly Fee: $0 (when enrolled in paperless statements)

Open Free Checking Account

Pros

• Primary Checking is $0 a month when you enroll in paperless statements
• Low minimums to open: $50 for checking or savings
• More than 600 branches and offices
• Online promotional CDs pay as much as 4.00% APY

Cons

• Online Savings pays just 0.10% APY
• Money market rates top out at 0.15% APY
• Longer CDs pay very little: 0.02% to 0.15% APY from 18 months to 4 years
• Overdrafts cost $25 each

Best for

People who want to walk into a branch, keep a simple checking account for $0 and park their savings somewhere else.

First Citizens Accounts at a Glance

In this review we’re mostly looking at two products: checking and online savings.

Checking Accounts

Primary Checking

The First Citizens Primary Checking account is the basic one, and it’s the one most people should open.

• $0 a month when you enroll in paperless statements
• $50 minimum to open
• No minimum balance
• Free Digital Banking, bill pay and card alerts
• Send money with Zelle® and transfer to other accounts
• You choose your overdraft protection level

The catch is paperwork. You have to sign up for paperless statements within 60 days of opening the account. If you don’t, First Citizens converts it to a Select Checking account without telling you first, and you pay that account’s charges.

So do it the day you open the account.

First Citizens Bank

3.5

• APY: N/A
• Minimum Deposit to Open: $50
• Balance Requirement: $0
• Monthly Fee: $0 (when enrolled in paperless statements)

Open Free Checking Account

Premier Checking

Premier is the step up. It earns interest, comes with free checks and gets you preferred rates on EquityLines and CDs. It’s $100 to open.

It costs $18 a month unless you meet one of these:

• $5,000 combined daily balance in select accounts
• $4,000 or more in monthly ACH direct deposits
• An EquityLine of at least $25,000
• A consumer loan that started at $10,000 or more

Prestige Checking

Prestige is the top tier. You get interest, free checks, the bank’s best rates on EquityLines and CDs, and you can use other banks’ ATMs without First Citizens charging you. It’s also $100 to open.

It’s $25 a month unless you meet one of these:

• $25,000 combined daily balance across your First Citizens deposit accounts
• $6,500 or more in monthly ACH direct deposits
• An EquityLine of at least $100,000
• A consumer loan that started at $25,000 or more

Bottom line on checking: don’t pay $18 or $25 a month for an account. If you won’t clear the bar every month, stick with Primary.

All three come with free digital banking, online bill pay and 24/7 mobile deposits.

Online Savings Account

The First Citizens Online Savings account is easy to open and easy to live with. It just doesn’t pay much.

• 0.10% APY, compounded daily and credited monthly
• $50 minimum to open
• No minimum balance and no monthly service charge
• Your first two withdrawals or transfers each month are free, then $3 each
• The Manage My Money tool shows your spending trends

What does 0.10% look like? On $5,000, about $5 a year. That’s the number to weigh against whatever you’d earn at one of the best digital banks.

Watch the withdrawal rule too. A third transfer out in the same month costs you $3, which wipes out more than half a year of interest on that $5,000.

It still makes sense if you want your savings and checking at the same bank for overdraft protection. You can open an online savings account by using this link.

Money Market Account

The money market account has tiered rates, and none of the tiers is high:

• $0 to $24,999: 0.05% APY
• $25,000 to $99,999: 0.07% APY
• $100,000 to $499,999: 0.10% APY
• $500,000 and up: 0.15% APY

It takes $500 to open. There’s a $10 maintenance charge, plus $0.30 per PIN-based transaction, and both are waived if you keep a daily collected balance of $1,000. You get unlimited withdrawals and transfers in person or at First Citizens ATMs. Rates can vary by area.

CDs

This is where you have to read the rate sheet carefully, because the short terms pay far more than the long ones.

Standard CD rates, with a $500 minimum:

• 3 to 5 months: 2.50% APY
• 6 to 11 months: 2.25% APY
• 12 months: 2.00% APY
• 18 months: 0.02% APY
• 2 and 3 years: 0.05% APY
• 4 years: 0.15% APY

First Citizens also runs online promotional CDs: a 5-month CD paying as much as 4.00% APY and an 11-month CD paying as much as 3.75% APY. Those need $5,000 to open, with a $250,000 maximum, and the money has to come from outside First Citizens. You also have to live in a state where the bank has a branch.

They’re limited-time offers and the bank can change them without notice. We read these rates on October 12, 2026.

There’s a penalty if you pull your principal out early, and CDs have no monthly service charge.

Overdraft Charges

First Citizens charges $25 each time it pays an item that overdraws your account, up to three charges per business day. That’s as much as $75 in one bad day.

It doesn’t charge for overdrafts caused by transactions of $5 or less, or for items it returns unpaid. You can also decline overdraft service altogether, or link a savings account to cover you.

Bottom Line

First Citizens Bank is a solid pick for everyday checking if there’s a branch near you. Primary Checking costs nothing as long as you go paperless in the first 60 days, and $50 gets you started.

Just don’t leave your savings here. At 0.10% APY, your emergency fund is barely earning anything. Keep the checking account, and if you’ve got $5,000 you won’t need for five months, look at the promotional CD.

First Citizens Bank

3.5

• APY: N/A
• Minimum Deposit to Open: $50
• Balance Requirement: $0
• Monthly Fee: $0 (when enrolled in paperless statements)

Open Free Checking Account