CITReviews of cit.com

Did not receive a renewal notice for a cd which is required by law either by mail or email. They then renewed the cd which was paying 5% with one paying 0.3%. When I received a notice to this event which occurred on 2/3 which contains the date of 2/13 on their letter, and received by me on 2/28, they now want a penalty to redeem the cd. They are thieves.

I went on the internet to apply for an account 5 percent interest. I gave mother’s maiden name, SS, etc. i was sent an email saying i was rejected/. No reason, nothing? Unbelievable! Why waste the time filling in an application and receive a msg from CITY, am not acceptable? I have a credit rating of 840. Why is CIT bank doing with my personal info? Checking with the Better Business bureau, how they take personal info, and then send a rejection notice?

At first I was happy because the rate is high over 5%. I was also able to do wire transfer a week before. Then all of sudden my attempts for wire transfer were not successful. The texts that should have been sent with authorization code didn’t come right away (they came an hour later). I called (I had called exactly 6 times in two days) and they told me to: 1. restart computer 2. clear web history, cache, cookies, 3. Use mobile app instead of website 4. wait for 24 hours and try again 5. Call my phone network to unblock 25412 so I can receive text from Cit Bank - I called T-Mobile and they said they didn’t block 25412 and I tested a text to 25412 and I got response back so I know it is not my phone or the phone network that is faulty. All that and didn’t work and the last thing they said is I can’t wire transfer anymore, I can only do ACH transfer to my own account or they can send check of the amount to me. Is this a joke? No bank would have wire transfer be disabled like this. They said there is nothing they can do at all. Nothing to reset etc etc. That’s it? I am moving out my money. Be warned, everyone! Stay away from this bank.

I opened a high yield savings account that was supposed to be 4.5-4.9% interest rate several years ago. Unfortunately it never gave me much money and I kept meaning to call them to see why. I finally called and they said it’s liquid so it can change and it is 0.25%. How in the world can you be giving me a 0.25% interest rate on a HYSA during a time where the interest rates are very high??? (Feb 2024) don’t waste your time, go with someone else more trust worthy. This shows me that they just want to take your money from you because they are going to lower the rate whenever they want.

I do not recommend working with CIT bank even if their rates are high. Their customer service is not only bad, but dangerous. They give very little information about the account on the online account. They say you can call to get information. They don't let you schedule a withdrawal of a CD until 30 days before maturity, so I waited until that timeframe. Two weeks before the CD matured, I called to schedule the withdrawal for the maturity date, and the rep told me I can't schedule the withdrawal in advance. The CD automatically renews if you don't schedule the withdrawal, and then there's a penalty if you early withdraw from the renewed CD. I had to explain this all to the rep - she had no idea. I even read her a letter I received in the mail from CIT stating the same. Finally she suggested I speak with a supervisor, who agreed that I was within the timeframe to schedule the withdrawal. I complained to her that the rep is giving out bad info that could have a significant financial impact on anyone who doesn't understand the terms. I also asked why my account doesn't indicate that the maturity date is nearing or that it will auto-renew. I also complained that it doesn't give an option to schedule the withdrawal. She told that in order to schedule a withdrawal, you have to call or email. The online account did not give this information anywhere. That is insane. It's almost impossible to accomplish any transactions without calling in, and when you do call in, they give incorrect information. The website should contain all necessary information and should allow you to complete all transactions available. Once CIT mailed he check (because they didn't allow a transfer to another bank account over the phone or online), they told me they don't send it with any tracking information unless it's over $500k or $400k (the rep wasn't sure which). They claim my check was mailed out yesterday, but based on my experience so far with CIT, without a tracking number, I am worried about when and if I will receive the check. Terrible banking practices that cause undue stress.

Trying to open savings account (bank receives funds with no other services needed) and after giving them all personal info with credit score over 830 they denied my request and refused to erase pertinent info in my application for possible breach as a safety measure. Be very careful with this Bank

Terrible customer service Web app did not function. Called customer service and got blamed that it was my problem. Worst customer experience.

Cit Bank has a good rate of return, BUT THEY ARE VERY HARD TO WORK WITH. I didn't think it would be a big deal that they do not have any actual branch locations, BUT, what I found is that funding my account has been a BIG pain. I planned on wiring funds, but my original bank charges $30 to wire money and there is a limit per wire. Therefore, in order to get the funds that I wanted to send, I would have to send multiple wires and do it over several days due to weekly limits. I tried Plan B... mobile deposit a check, and what I learned is that they have LOW LIMITS FOR MOBILE DEPOSITS, making it another difficult and drawn out process just to get the money into my account. Consider that you will have a PAINFUL AND LONG AND DRAWN OUT PROCESS JUST TRYING TO GET YOUR MONEY TO THEM to the point that the 1% higher interest rate gets negated with transfer fees and time spent. My time is too valuable to deal with them, so I will just keep my money in my other bank. :-(