Brand Overview: CIT Bank
CIT Bank is an online direct bank that operates as a division of First-Citizens Bank & Trust Company (First Citizens BancShares, Inc.). Originally established in 2000 as the banking subsidiary of CIT Group, which traces its corporate roots back to 1908, the brand delivers branchless personal and commercial financial services across the United States.
Contact Info
Phone Number: 855-462-2652 (Toll-free U.S. customer service)
Email: [email protected] (Account holders can also submit inquiries via the secure messaging system in online banking)
Industry and Operations
CIT Bank operates in the financial services and digital retail banking sector. Functioning without traditional retail branch locations, it provides digital deposit accounts and lending products directly via the web and mobile platforms.
- Savings Accounts: High-yield deposit options, including Platinum Savings and Savings Connect accounts.
- Certificates of Deposit (CDs): Various terms including term CDs, No-Penalty CDs, and Jumbo CDs.
- Checking and Money Market: Online eChecking accounts and Money Market accounts with digital transfer features.
- Lending Solutions: Home loans, residential mortgages, and specialized financing options for businesses.
User Sentiment
Overall user sentiment toward CIT Bank is mixed to critical, with most negative reviews centering around digital usability challenges, transaction delays, and friction when communicating with customer support.
- Delayed Fund Transfers: Users frequently report extended wait times for external transfers to clear and long holding periods on deposits.
- Account Lockouts and Access Restrictions: Many consumers mention sudden account freezes or login lockouts triggered by strict fraud prevention protocols, leaving them temporarily unable to access their funds.
- Customer Service Responsiveness: Common grievances include long hold times on the phone, difficulty reaching knowledgeable representatives, and slow resolution of escalated issues.
- Digital Platform and App Glitches: Customers cite frequent system errors, unannounced logouts, and navigation difficulties on both the website and mobile banking app.
- External Account Linking Problems: Users often point out problems connecting external bank accounts or transferring funds to and from certain third-party institutions.
Share Your Experience
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