CIT Bank vs Wells Fargo
CIT Bank is a solid online bank with excellent rates and no monthly fees. How does it compare to Wells Fargo? Read our comparison chart below.
CIT Bank offers savings accounts and multiple CDs, including a no-penalty CD. Savings and Money Market account requires $100 minimum deposit, while term CDs require $1,000 minimum deposit. There are no monthly service fees.
While Wells Fargo is one of America's largest banks with over 5,400 locations and 13,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.
Compare CIT Bank with Wells Fargo, side-by-side. Read on for an in-depth look, including ratings and reviews.
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CIT Bank | Wells Fargo | |
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CIT Bank Money Market Account - | Personal Checking Account - $200 Bonus - | |
Benefits and Features | ||
Savings | Savings Builder up to 0.70% APY with $25,000+ balance or $100 monthly deposit. | 0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, or primary account owner is 24 years old or under |
CD | Term CDs up to 0.50% APY. $1,000 minimum opening deposit. | Standard Term CD: 0.01% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 0.02% APY if you maintain a linked Portfolio by Wells Fargo relationship. |
Checking | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 | Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo |
Money Market | Also known as the Platinum Savings Account. 0.01% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 0.02% requires account linked to Portfolio by Wells Fargo relationship. | |
Customer Service |
| Available 24 hours a day, 7 days a week. |
ATMs | More than 13,000 ATMs across the country. | |
IRA CD | Standard Term CD: 0.01% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 0.02% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. | |
IRA Money Market | 0.01% APY. $100 minimum opening deposit. | |
Locations | Approximately 5,400 retail banking branches coast to coast. | |
CreditDonkey® Reviews | ||
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Pros & Cons | Pros:
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Bottom Line | Solid online bank with excellent rates and no monthly fees... | |
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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 06/30/2022 Wells Fargo: Pricing information from published website as of 03/25/2022 based on 91107 zip code. |
Money Market Account - Get a Year of Amazon Prime
- Open a new Money Market account using promo code AMZN22.
- Fund your account with $15,000 within 15 days.
- Keep a minimum balance of $15,000 for 60 days.
CIT Bank Money Market Account - 1.00% APY
- 1.00% APY
- $100 minimum opening deposit
- No monthly maintenance fee
CIT Bank Savings Connect - 1.35% APY
- Earn a competitive high yield savings rate with access and convenience features of an eChecking account.
- Earn 1.35% APY on Savings Connect and up to 0.25% APY on eChecking.
- Minimum of $100 for both the Savings Connect and eChecking to open ($200 total)
Which is Better: CIT Bank or Wells Fargo?
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.