First Citizens Bank Review 2024: Pros, Cons, & Fees

Last Updated on February 22, 2023 by Harrison Brown
8.2/10 (Expert Score)
Product is rated as #13 in category Banking
8.2Expert Score

First Citizens Bank is a financial institution that offers a range of products and services to meet the banking needs of its customers. It has a good reputation for providing a range of savings and checking accounts, loans, credit cards, investments, and insurance. The bank provides strong customer support and online services, making it easy for customers to manage their finances from anywhere. However, it is only available in select states, limiting its accessibility for some customers, and the bank's fees can be higher than other financial institutions.

Customer support
  • Wide range of products
  • Strong presence in southern states
  • Fantastic customer support options
  • Out-of-network ATM fees
  • Only available in 19 states
  • Higher minimum opening deposits

What is it?

What is First Citizens Bank?

First Citizens Bank is a regional bank that was established in 1898. It has a long history of providing financial services to customers in the United States. The bank has a strong presence in the southeastern states and branches in other parts of the country. Over the years, First Citizens Bank has evolved with changing times and technology, but it has remained committed to providing excellent customer service and a wide range of financial products.

Where is First Citizens Bank available?

First Citizens Bank is currently only available if you live in the following states:

  • North Carolina
  • South Carolina
  • Tennessee
  • Arizona
  • California
  • Colorado
  • Florida
  • Georgia
  • Kansas
  • Maryland
  • Missouri
  • New Mexico
  • Oklahoma
  • Oregon
  • Texas
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin

Pros & Cons

Pros & Cons of First Citizens Bank

  • Wide range of financial products and services
  • Strong presence in the southeastern states and other parts of the country
  • Comprehensive online and mobile banking platform
  • Network of ATMs and branches for in-person transactions and support
  • Monthly service fees on some accounts
  • Out-of-network ATM fees
  • Higher minimum deposit requirements for some accounts
  • Only available in 19 states

First Citizens Bank is an excellent option for customers looking for a regional bank with a wide range of financial products and services. The bank's comprehensive online and mobile banking platform, a network of ATMs and branches, and commitment to customer service are all advantages.

Potential customers should know the monthly service fees, out-of-network ATM fees, and higher minimum deposit requirements for some accounts. Customers looking for a wider range of loan options may also want to consider other banks.


First Citizens Bank Products and Services

Checking accounts

Free Checking Account

-$0/mo with paperless statements
-$50 minimum deposit
-$0 NSF fees
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  • $0/mo with qualifying activities
  • $100 minimum deposit
  • Access to preferred rates on CDs & EquityLines
  • Earns interest


  • $0/mo with qualifying activities
  • $100 minimum deposit
  • Access to higher preferred rates on CDs & EquityLines
  • Earns interest

Savings accounts

Free Savings Account

-No minimum balance requirements
-$50 minimum deposit
-Daily compounded rates


  • Highest interest rates
  • $500 minimum deposit
  • No monthly service fees

Money market

  • Unlimited withdrawals & transfers
  • $500 minimum deposit


Auto Loans

First Citizens Bank offers auto loans for new and used vehicles with flexible terms and competitive rates.

Personal Loans

The bank offers unsecured personal loans for various purposes, such as debt consolidation, home improvements, and major purchases.

Home Equity Loans

First Citizens Bank provides home equity loans for home improvement projects, debt consolidation, or other expenses.

Home Equity Lines of Credit (HELOC)

The bank offers a HELOC option which allows customers to access their home equity as needed.

Recreational Vehicle Loans

First Citizens Bank offers loans for recreational vehicles, including boats, RVs, and motorcycles.

Unsecured Lines of Credit

The bank provides unsecured lines of credit for overdraft protection or as a flexible funding source for unexpected expenses.

Investment and insurance services

Traditional IRA

  • Tax-deductible contributions are allowed
  • Contribution eligibility for those with earned income
  • Penalty-free withdrawals after 59 1/2 years old.

Roth IRA

  • Penalty-free and tax-free withdrawals are allowed after the account is funded for 5 years and you reach age 59 1/2
  • Contributions can be withdrawn tax-free at any time

Credit Cards

Travel Rewards Credit Card (Best for traveling)

  • 3 points for travel, 2 points for dining, and 1.5 points for everything else
  • No foreign transaction fees
  • $95/yr annual fee

Cash Rewards Credit Card (Best for everyday purchases)

  • Unlimited 1.5% cash back on all purchases
  • 0% on balance transfers during the first 12 months
  • No annual fee

Smart Option Credit Card (Best for low interest)

  • Get the lowest interest rates
  • 0% on balance transfers during the first 12 months
  • No annual fee

Secured Cash Back Credit Card (Best for building credit)

  • Unlimited 1% cash back
  • Establish or build credit quickly
  • No annual fee


First Citizens Digital Banking Fees

Internal funds transfers (within the bank):Free
External fund transfers (bank to bank):$2.99
Incoming external transfers (bank to bank):Free
Person-to-person transfers (Send money with Zelle®):Free
Wire transfer base module:$15/mo
Domestic wire origination:$15/time
ACH single payments:$3/time
Same-day ACH transactions:$1/time (on top of ACH single payment)


First Citizens Bank Customer Support

First Citizens Bank offers multiple ways for customers to contact their customer support team. These include:

  1. Phone: Customers can call First Citizens Bank's customer support team at (888) 323-4732
  2. Email: Customers can email the bank’s customer support team by filling out a form on the bank’s website.
  3. In-Person: Customers can visit a First Citizens Bank branch to speak with a representative.

Bottom Line

Is First Citizens Bank for you?

If you are in need of a bank that offers a variety of financial services and products, First Citizens Bank is worth considering. However, it is important to carefully review the fees associated with each product and service and the bank's policies and interest rates. Additionally, consider the quality of customer service and support before deciding. Before opening an account, compare First Citizens Bank's offerings with other banks to determine if it's the right fit for you.

How does First Citizens Bank compare?

Sofi Logo
SoFi Bank
Zero fees or account minimums
Banking, loans, & More All In One
Sign-up bonus (Currently at $300)
No physical locations
Need direct deposit to get 4.50% APY
Live support can be slow
CIT Bank Logo
CIT Bank
Zero monthly fees
High APY savings account (5.05% APY)
Free ATM reimbursements (Up to $30/mo)
No physical locations
No ATM network
Mobile check deposits sometimes take a while to clear
Fifth Third Bank Logo
Fifth Third Bank
Has physical branches
Highest sign-up bonus ($325)
24/7 live support
Only available in 11 states
Some accounts don't earn high-interest
Service fees can be high


First Citizens Bank FAQ

What type of accounts does First Citizens Bank offer?

First Citizens Bank offers checking, savings, money market, online savings accounts, loans, investment and insurance services, and credit cards.

Are there any monthly service fees associated with First Citizens Bank accounts?

Yes, some accounts may have monthly service fees. These fees may be waived with certain conditions, such as minimum balance requirements or direct deposit setup.

Is First Citizens Bank FDIC insured?

Yes, First Citizens Bank is FDIC insured. Customer deposits are insured up to $250,000 per depositor, per ownership category.

What is the interest rate offered on savings accounts at First Citizens Bank?

Interest rates on savings accounts may vary depending on the account type and balance. It is best to check with the bank for the latest interest rates.

Does First Citizens Bank have ATMs available for customer use?

Yes, First Citizens Bank has a network of ATMs that customers can use for free. However, there may be fees for using out-of-network ATMs.

First Citizens Bank Review 2024: Pros, Cons, & Fees
First Citizens Bank Review 2024: Pros, Cons, & Fees
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