What you need to open a savings account at First Citizens Bank
First Citizens Bank requires a government-issued photo ID, a Social Security number or ITIN, and an initial deposit to open a savings account. You can start the process online, by phone, or in person at a branch. The initial deposit amount depends on the account type—some accounts require as little as $25, while others may ask for more.
You will also need a current mailing address and a way to fund the account: a debit card, bank transfer, or cash if you go to a branch. If you are opening an account for a minor, a parent or guardian must be present and provide their own ID and Social Security number.
First Citizens Bank operates in multiple states, so branch availability varies by location. Before you start, check whether there is a branch near you or whether you will be opening the account entirely online.
Key Takeaways
- You need a photo ID, Social Security number, current address, and an initial deposit to open a savings account.
- First Citizens Bank offers online, phone, and in-person account opening, depending on your location and account type.
- Initial deposit requirements vary by account; some accounts start with $25 while others require more.
- The entire process typically takes 5 to 10 minutes online or about 15 minutes in a branch.
- Once your account is open, you can access it through the First Citizens Bank mobile app or online banking portal.
Opening an account online
Go to the First Citizens Bank website and look for the "Open an Account" or "Savings" section. You will enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. The system will verify your identity using the information you provide.
Next, choose your savings account type. First Citizens Bank typically offers options like a basic savings account, a high-yield savings account, or accounts with specific features like no monthly fees or higher interest rates. Read the details of each to understand the interest rate, any monthly maintenance fees, and minimum balance requirements.
You will then set up your initial deposit. Most online accounts let you link a bank account and transfer money, or use a debit card. The transfer usually takes 1 to 3 business days to complete, though some banks process it faster. Once the deposit clears, your account is active and you can start using it.
Opening an account by phone
Call First Citizens Bank's customer service line to speak with a representative who can walk you through the account opening process. Have your ID, Social Security number, and address ready. The representative will ask the same questions as the online form and help you choose an account type.
Over the phone, you can arrange your initial deposit by providing debit card information or authorizing a bank transfer. The representative will confirm all details before finalizing the account. This method takes about 15 to 20 minutes and is useful if you prefer to ask questions or need help deciding which account fits your needs.
Opening an account in person at a branch
Visit a First Citizens Bank branch with your photo ID, Social Security number, and proof of your current address (a utility bill, lease, or bank statement works). A banker will review account options with you and help you choose the right savings account for your situation.
Bring your initial deposit in cash, or let the banker know you will fund it from another bank account. If you fund it in person with cash, your account is ready to use immediately. If you transfer from another bank, the deposit will clear within 1 to 3 business days.
In-person opening usually takes 15 to 30 minutes depending on how busy the branch is and how many questions you have. This is the best option if you want to ask detailed questions about features, interest rates, or account management.
What happens after your account opens
Once your savings account is active, First Citizens Bank will send you a debit card in the mail (if applicable to your account type) and provide you with online and mobile banking access. You can log in to the First Citizens Bank website or download their mobile app to check your balance, transfer money, and manage your account.
Your account will earn interest based on the account type you chose. Interest rates vary and change over time, so check your account statements or log in online to see your current rate. Interest is typically deposited monthly or quarterly, depending on the account.
Set up any automatic transfers or bill payments you need. Many people link their savings account to their checking account to move money between them easily, or set up automatic transfers on payday to build savings without thinking about it.
Fees and account requirements
First Citizens Bank savings accounts may have a monthly maintenance fee, though many accounts waive this fee if you maintain a minimum balance or set up direct deposit. Some accounts have no monthly fee at all. Check the account details before opening to understand what fees apply to your specific account type.
Most savings accounts have a limit on how many withdrawals you can make per month—this is a federal rule, not specific to First Citizens Bank. If you exceed the limit, you may face a fee or the bank may convert your account to a different type. Ask about this limit when you open your account if you plan to withdraw frequently.
If your account balance drops below any required minimum, you may be charged a fee or the account may be closed. Review the minimum balance requirement for your account type and keep track of it.
If you already have a First Citizens Bank account
If you already have a checking account or other account with First Citizens Bank, opening a savings account is faster. Log into your existing online banking and look for an option to "Add Account" or "Open a New Account." You can often complete this in just a few minutes without re-entering all your personal information.
Alternatively, call the number on the back of your existing First Citizens Bank card or visit a branch. Let them know you are an existing customer, and they can open a savings account with minimal paperwork.
Frequently Asked Questions
How much money do I need to open a savings account?
Initial deposit requirements vary by account type, ranging from $25 to several hundred dollars. Check the specific account details on the First Citizens Bank website or ask a representative which account has the lowest opening deposit.
Can I open an account if I do not have a Social Security number?
First Citizens Bank may accept an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number. Call the bank or visit a branch to ask about this option, as policies can vary by location.
How long does it take to open an account online?
Online account opening typically takes 5 to 10 minutes. Your account is usually active immediately, though any transfer deposits take 1 to 3 business days to clear.
What is the interest rate on First Citizens Bank savings accounts?
Interest rates vary by account type and change over time. Check the First Citizens Bank website or call a representative to learn the current rate for the specific account you are interested in.
Can I open a savings account for my child?
Yes. A parent or guardian must open the account and be listed as the account owner. The child can be added as an authorized user or the account can be set up as a custodial account, depending on the child's age and First Citizens Bank's policies.