Wells Fargo vs CIT Bank
Wells Fargo is an a "big 4" bank with a good range of checking accounts and full services. How does it compare to CIT Bank? Read our comparison chart below.
Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 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.
While 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.
Compare Wells Fargo with CIT Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Learn More | Visit Site | |
Wells Fargo | CIT Bank | |
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Savings Account - $525 Bonus - | CIT Bank Platinum Savings - | |
Benefits and Features | ||
Savings | 0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under. | 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 |
CD | Standard Fixed Term CD available online: 1.50% to 2.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 2.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch. | Term CDs up to 3.50% APY. $1,000 minimum opening deposit. |
Checking | Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo | eChecking: 0.25% APY with $25,000+ balance and 0.10% APY on balances under $25,000 |
Money Market | Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship. | |
Mobile App | ||
ATMs | approximately 11,000 ATMs across the country | No ATM fees from CIT Bank. Up to $30 in other banks' ATM fees reimbursed per month (for eChecking Account) |
Customer Service | Available 24 hours a day, 7 days a week. | Mon - Fri: 9 am - 9 pm ET Sat: 10 am - 6 pm ET Sunday: Closed |
IRA CD | Standard Term CD: 0.01% to 2.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 2.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. | |
IRA Money Market | Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit. | |
Locations | Approximately 4,700 retail banking branches coast to coast. | |
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Mobile App | ||
Customer Service | ||
Money Market | ||
Pros & Cons | Pros:
| Pros:
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Bottom Line | A "big 4" bank with a good range of checking accounts and full services... | Solid online bank with excellent rates and no monthly fees... |
Learn More | 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. Wells Fargo: Pricing information from the published website as of 04/10/2024 is based on the 91101 zip code. 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
Which is Better: Wells Fargo or CIT Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Wells Fargo or Chase.
In short: Wells Fargo's mobile app is impressive. CIT Bank's savings is outstanding.