First Citizens Bank works well if you want a regional bank with physical branches and straightforward accounts, but it is not the cheapest option and has some limitations that matter depending on how you bank.

First Citizens Bank operates in 22 states, mostly in the Southeast and Mid-Atlantic, with over 500 branches. The bank offers standard checking and savings accounts, money market accounts, CDs, and basic lending products. Whether it is a good fit depends on what you prioritize: branch access, account fees, interest rates, or digital tools.

If you live in one of their service areas and value walking into a physical location to deposit cash or speak to someone in person, First Citizens has that advantage. If you are comparing it to online banks or national chains, you will notice higher monthly fees and lower interest rates on savings accounts. The bank does not stand out for either cost or yield, but it is reliable and straightforward to use.

Key Takeaways

  • First Citizens charges monthly maintenance fees on most checking accounts ($10 to $15) unless you meet balance or direct deposit requirements, which is higher than many competitors.
  • Savings account interest rates are typically lower than online banks, so if you are building an emergency fund, you may earn more elsewhere.
  • The bank has no monthly fee for basic savings accounts and offers FDIC insurance on deposits up to $250,000, which protects your money if the bank fails.
  • First Citizens has a mobile app and online banking, but the digital experience is standard—not a standout feature compared to newer fintech banks.
  • Overdraft fees run $35 per transaction, and the bank does not offer overdraft protection by default, so you can rack up multiple fees quickly if your account goes negative.

Checking account fees and how to avoid them

First Citizens' main checking account is called the Checking Account, and it carries a $12 monthly maintenance fee. You can waive it by maintaining a $1,500 minimum daily balance, setting up direct deposit, or keeping a linked savings account with a $2,500 balance. If none of those apply to you, you pay $12 every month—that is $144 a year.

The bank also offers a Premium Checking Account with a $15 monthly fee, waived at $5,000 minimum balance. This account includes perks like higher ATM reimbursement limits and priority customer service, but most people do not need it.

If you cannot meet the balance requirement and do not receive direct deposits, the fee adds up fast. Compare this to banks like Ally or Charles Schwab, which offer no-fee checking with no minimum balance. If you do receive regular paychecks via direct deposit, the fee waiver makes First Citizens competitive on cost.

Savings rates and how they compare

First Citizens' regular savings account earns interest, but the rate is typically well below what online banks offer. As of recent data, their savings accounts pay around 0.01% to 0.05% APY, depending on the account type and your balance. Online banks like Marcus, Ally, or American Express regularly offer 4% to 5% APY on savings accounts.

This matters if you are holding money for an emergency fund or a short-term goal. On a $10,000 balance, First Citizens might earn $1 to $5 per year, while an online bank would earn $400 to $500. Over time, that gap compounds.

First Citizens does offer CDs (certificates of deposit) with fixed rates, which may be competitive depending on the term. If you are willing to lock money away for 6 months to 5 years, a CD might make sense. Check their current rates against other banks before committing.

Overdraft fees and what happens when your account goes negative

First Citizens charges $35 per overdraft transaction, and the bank does not automatically enroll you in overdraft protection. This means if your account dips below zero, each transaction that posts can trigger a separate $35 fee. If you overdraw by $50 and three transactions post before you notice, you could face $105 in fees on top of the negative balance.

You can opt into overdraft protection by linking a savings account or credit line, which transfers money automatically to cover the shortfall. Without it, you are exposed to multiple fees in a single day. This is a real cost to track, especially if you live paycheck to paycheck or have irregular income.

Many banks now offer overdraft grace periods or lower fees. First Citizens does not stand out here, so if overdraft risk is a concern, look at banks with more forgiving policies or no overdraft fees at all.

Branch access and ATM network

First Citizens has over 500 branches across 22 states, concentrated in the Southeast and Mid-Atlantic. If you live in North Carolina, South Carolina, Virginia, or nearby states, branch access is strong. If you live outside their footprint, you have no local branches.

The bank is part of the Allpoint ATM network, which gives you access to over 55,000 ATMs worldwide with no surcharge. This is a real advantage if you travel or need cash outside First Citizens branches. However, if you use ATMs frequently at banks outside the Allpoint network, you will pay $3 to $5 per transaction.

For deposits and withdrawals, the branch network is useful if you prefer in-person banking. For everything else—transfers, bill pay, account management—the mobile app and online banking handle it, and First Citizens' digital tools are functional but not innovative.

Mobile app and online banking features

First Citizens offers a mobile app and online banking portal that cover the basics: checking balances, transferring money between accounts, paying bills, and depositing checks via mobile. The app is stable and works, but it does not have standout features like budgeting tools, spending insights, or advanced security options that newer banks offer.

You can set up alerts for low balances or large transactions, which helps prevent overdrafts. Bill pay is straightforward, and you can schedule recurring payments. The app supports external transfers to other banks, though the process takes 1 to 3 business days.

If you are comparing First Citizens to banks like Ally, Chime, or Discover, the digital experience is less polished. If you are comparing it to traditional banks like Bank of America or Wells Fargo, it is roughly equivalent. The app does what you need, but it does not make banking easier or more rewarding.

Who First Citizens Bank makes sense for

First Citizens is a reasonable choice if you live in one of their service states, receive regular direct deposits that waive the checking fee, and value having a physical branch nearby. The bank is stable, FDIC-insured, and has been operating for over 100 years. You will not have surprises or hidden fees beyond what is disclosed upfront.

First Citizens is less appealing if you are trying to maximize savings interest, minimize fees, or want cutting-edge digital banking. If you live outside their service area, you have no reason to bank there. If you do not receive direct deposits and cannot maintain a high balance, the $12 monthly fee is a drag.

The bank works best for people who value convenience and simplicity over cost optimization. If you are willing to shop around and compare rates and fees, you will likely find a cheaper or higher-yielding option elsewhere.

Frequently Asked Questions

Does First Citizens Bank have any accounts with no monthly fee?

Yes. The savings account has no monthly maintenance fee. The checking account has a $12 fee, but you can waive it by maintaining a $1,500 minimum balance, setting up direct deposit, or keeping a linked savings account with $2,500. If you do not meet any of those, you pay the fee every month.

What is the interest rate on First Citizens savings accounts?

First Citizens savings accounts typically earn 0.01% to 0.05% APY, which is much lower than online banks offering 4% to 5%. If you are saving money for an emergency fund, you will earn significantly more at an online bank. First Citizens' rates change over time, so check their website for current rates.

Can I use First Citizens ATMs outside their service area?

Yes, through the Allpoint network, which has over 55,000 ATMs worldwide. You can withdraw cash with no surcharge at any Allpoint ATM. If you use ATMs outside Allpoint, you will pay a fee—typically $3 to $5 per transaction.

What happens if my First Citizens account goes negative?

You are charged $35 per overdraft transaction. If multiple transactions post while your account is negative, you can face multiple $35 fees in one day. You can prevent this by opting into overdraft protection, which links a savings account or credit line to cover shortfalls automatically.

Does First Citizens have online banking and a mobile app?

Yes. The mobile app and online portal let you check balances, transfer money, pay bills, and deposit checks remotely. The tools are functional and reliable, but they do not include advanced features like budgeting or spending analytics that some newer banks offer.