CIT Bank vs Relay
CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Relay? Read our comparison chart below.
CIT Bank is an online division of First Citizens Bank. It's known for high interest rates on its savings accounts and CDs. In addition, it offers an eChecking account. All accounts have no monthly service fees.
While Relay lets you open up to 20 individual business checking accounts and 50 debit cards at no extra charge. There's also free cash deposits and free mailed checks through the app. There's no monthly fee.
Compare CIT Bank with Relay, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Visit Site | Visit Site | |
CIT Bank | Relay | |
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CIT Bank Platinum Savings - | No-Fee Business Checking - | |
Benefits and Features | ||
Savings | Platinum Savings: 5.05% APY with a balance of $5,000 or more Savings Connect: 4.65% APY Savings Builder up to 1.00% APY with $25,000+ balance or $100 monthly deposit | Earn up to 3% APY: Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000. |
CD | Term CDs up to 3.50% APY. $1,000 minimum opening deposit. | |
Checking | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 | Up to 20 individual business checking accounts; no monthly fees; no overdraft fees |
Monthly Fee | ||
Money Market | ||
APY | ||
Minimum Deposit to Open | ||
Mobile App | ||
ACH Transfer Fee | ||
ATMs | No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account) | |
Balance Requirement | ||
Cash Deposit Fee | $0 for cash deposits at Allpoint ATMs | |
Customer Service | Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed | Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday |
Incoming Wire Transfer Fee | ||
Locations | ||
Out of Network ATM Fee | ||
Outgoing Wire Transfer Fee | $5 for domestic; $10 for international | |
Overdraft Fee | ||
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Fees | ||
Pros & Cons | Pros:
| Pros:
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Bottom Line | Solid online bank with excellent rates and no monthly fees... | One of the best online business banking accounts for large teams... |
Visit Site | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. CIT Bank: Pricing information and data points from published website as of 04/09/2024. |
CIT Bank Platinum Savings - 5.05% APY
- 5.05% 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
CIT Bank Savings Connect - 4.65% APY
- Earn 11x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
CIT Bank No Penalty CD - 3.50% APY
- 3.50% 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
No-Fee Business Checking
- $0 monthly service fee
- $0 minimum opening deposit
- Open up to 20 individual business checking accounts
- Earn up to 3% APY with automated savings
- Issue up to 50 Visa® debit cards to your team
Which is Better: CIT Bank or Relay?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing CIT Bank or Chase.