CIT Bank Complaints and Solutions

CIT Bank offers a high APY. But there are some downsides, too. Read on to learn more about CIT Bank common complaints and possible solutions.

© CreditDonkey

You Can't Visit a Physical Branch

CIT Bank operates only online. This means no in-person customer service or bank transactions. If you need customer service, you'll have to contact CIT Bank via email or phone.

Solution
Because of CIT's merger with First Citizens Bank, you can now bank at any First Citizens Bank location. To complete most bank transactions, or for general customer service, you can contact CIT Bank at 1-855-462-2652 during the following hours:

Mon - Fri: 9 am - 9 pm ET
Sat: 10 am - 6 pm ET
Sunday: Closed

Keep in mind that CIT often has excessive hold times for phone customer service. They encourage customers to look for answers first within their online FAQ.

If you can't find your answer in the FAQ, you can send a secure message online 24/7. However, you must be a current customer because a login is required.

Member FDIC

CIT Bank Platinum Savings - $300 Bonus

Click Here to Get Deal

Expires 12/8/2025

• Qualify for a $300 cash bonus with a minimum deposit of $50,000
• This limited-time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025, and can end at any time without notice.

Disclosures

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For complete list of account details and fees, see our Personal Account disclosures.

Mobile App Isn't Useful

CIT's mobile app is available for both IOS and Android, but many users complain that the user interface is not intuitive. Many have problems trying to find how to make transfers or deposits.

The app also makes you go through multiple authentication procedures for security, which can get annoying. Users also complain of frequent system crashes.

Solution
It's true that the app is not intuitive, but it does have all the basic functions for your banking needs. To see options for transfers or deposits, you need to press the "+" button at the bottom of the screen.

Alternatively, you can always log into the website on your desktop computer for full functionality.

Difficult to Access Savings Funds

CIT Bank's savings account doesn't come with an ATM card, so you can't withdraw quickly if you need the funds. If you want access to your funds, it could take several days or longer. To get your money, you need to plan ahead.

Solution
Initiate any of the following withdrawal methods 10 days or more before you need the funds:

• Set up an ACH transfer to the CIT checking account or an external account
  
• Send the funds via wire transfer ($10 fee for accounts with less than $25,000)^[1]
  
• Request a check

Member FDIC

CIT Bank Platinum Savings - $300 Bonus

• Qualify for a $300 cash bonus with a minimum deposit of $50,000
• This limited-time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025, and can end at any time without notice.

Find Out More

Expires 12/8/2025

Disclosures

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For complete list of account details and fees, see our Personal Account disclosures.

Member FDIC

CIT Bank Platinum Savings - $225 Bonus

• Qualify for a $225 cash bonus with a minimum deposit of $25,000
• This limited-time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025, and can end at any time without notice.

Find Out More

Expires 12/8/2025

Disclosures

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For complete list of account details and fees, see our Personal Account disclosures.

Member FDIC

CIT Bank Platinum Savings - 3.85% APY

• 3.85% APY with a balance of $5,000 or more
• 0.25% APY with a balance of less than $5,000
• $100 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

Find Out More

Disclosures

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For complete list of account details and fees, see our Personal Account disclosures.

Member FDIC

CIT Bank Savings Connect - 3.75% APY

• $100 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

Find Out More

Disclosures

APY — Annual Percentage Yield is accurate as of September 23, 2025. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.

For complete list of account details and fees, see our Personal Account disclosures.

CIT Savings Builder - 1.00% APY

Earn up to 1.00% APY. Here's how it works: Maintain a minimum balance of $25k OR make at least a $100 minimum deposit every month. Member FDIC

Find Out More

Long Transfer Times

ACH transfers between bank to bank may be held for up to 5 business days. Checks deposited to your account may be held for up to 7 business days.

Solution
If you need to deposit or transfer funds between your CIT account and another one, make sure you give yourself plenty of time. Since funds can be held for up to 5-7 business days, that could be as long as 9 total days. Initiate the transfer long before you actually need to use the money.

Minimum Deposits for CDs Are High

You need at least $1,000 to open a CIT CD.

Solution
Interest rates are highest on CIT's 13-month and 18-month CDs. If you want to tie your money up longer than that, you are better off taking the shorter term and renewing the CD or going elsewhere.

CIT Bank does offer an 11-month No Penalty CD, which offers a competitive interest rate and the ability to withdraw your funds penalty-free if you need them before the CD matures.

Member FDIC

CIT Bank No Penalty CD - 3.35% APY

• Option to withdraw full balance and interest after 7 days of CD funding date
• $1,000 minimum to open an account
• 11 months
• No monthly maintenance fee
• Member FDIC

Find Out More

Disclosures

APY — Annual Percentage Yield is accurate as of September 23, 2025. With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds.

For complete list of account details and fees, see our Personal Account disclosures.

CIT Bank Term CDs - Up to 3.35% APY

• Up to 3.35% APY
• $1,000 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

Term	CD Rates
6 Month	2.85% APY
1 Year	0.30% APY
13 Month	3.35% APY
18 Month	2.85% APY
2 Year	0.40% APY
3 Year	0.40% APY
4 Year	0.50% APY
5 Year	0.50% APY

Find Out More

Member FDIC

13 Month CD - 3.35% APY

Find Out More

Disclosures

APY — Annual Percentage Yield is accurate as of September 23, 2025. $1,000 minimum deposit is required to open the account. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings. Upon maturity, the 13-Month CD will be automatically renewed as a 1-Year Term CD at the then-published APY.

For complete list of account details and fees, see our Personal Account disclosures.

18 Month CD - 2.85% APY

Find Out More

6 Month CD - 2.85% APY

Find Out More

CIT Bank Jumbo CDs

• Up to 0.50% APY
• $100,000 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

Term	CD Rates
2 Year	0.40% APY
3 Year	0.40% APY
4 Year	0.50% APY
5 Year	0.50% APY

Find Out More

48-Month CD - 0.50% APY

Find Out More

You Can't Write Checks

CIT's eChecking account does not allow you to write checks. Even if you get 3rd party checks, all checks written payable against your eChecking will be rejected by the system.

Solution
Even though you can't write checks, there are a number of other ways to pay. The checking account allows for online bill pay to vendors. You can also easily transfer money to family and friends through Zelle.

Need Large Balances to Earn Advertised Interest Rates

CIT Bank's interest rates work in tiers for the Savings Builder account. You can earn the "top tier" interest rate if you keep a balance of $25,000 or more.

If you have less than $25,000 when your account is "evaluated" (the same date each month), you earn the lower tier interest rate. However, if you make a minimum $100 deposit each month, that also qualifies you for the higher interest rate.

Solution
If you want the highest APY with fewer restrictions, CIT's Savings Connect is the best option. There is no monthly deposit or minimum balance required to earn a high 3.75% APY on your entire balance.

Member FDIC

CIT Bank Savings Connect - 3.75% APY

Click Here to Learn More

• $100 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

Disclosures

APY — Annual Percentage Yield is accurate as of September 23, 2025. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.

For complete list of account details and fees, see our Personal Account disclosures.

Bottom Line

CIT Bank offers benefits like a higher-than-average earned APR. But understand the common complaints—and how to address them—before deciding if it's the right bank for you. Don't forget to read our reviews

References