CIT  Reviews 516

I recently applied for a high yield savings account with CIT. Let me start by saying that I am applying to GIVE them MY money, not the other way around. And, I have perfect credit. They denied my application!!! And for reasons that are so obscure and incomprehensible. When I called to ask for an explanation, they couldn't give me one. I had to call another agency to try and get info, wasted a ton of my time, and still got nowhere. Stay far away from these people -- nothing but a huge waste of time.

My husband tried to open a savings account with this company, and they were absolutely the worst. They kept asking him to submit the exact same documents over and over again, dragging out the process for no clear reason. How about just coming out and saying, "Uh, we don't want your business"?

But the moment he told them he had decided to go elsewhere, they immediately responded with:

"Thank you for your recent application for a CIT Bank account. Per your request, we have canceled your application at this time. Thanks again for giving us a chance to earn your business!"

So, they could respond quickly when it suited them, just not when it actually mattered.

Avoid this company like the plague. If "YUK" were an option, that’s what I would give them. On second thought, maybe not just a YUK, but a YUK YUK on turbo.

Their shady tactics disgust me.

Never had a problem. The interest rates are high, but the service is limited. It is not a full-service bank but rather a great place to put emergency savings. Your savings are insured by the federal government.

I wish zero was an option! I was debited my last payment only to find out they put a loan termination fee for being a great client and fulfilling my obligations. They also added insurance that should not be on last payment because the balance to them is $0. Why do they want to insure an account with a $0 balance?

I opened an account with citi bank a few years back and everything was good, other than their incredibly high interest rate. It was a substantially large amount of credit available, suddenly I was cut completely in half which maxed out the card. Paid off the amount and swore to never use the card again but it is handy for flights and miles so I gave them another shot. Low and behold I purchased some flights and put a few thousand on the card and the decreased my credit line again to max out the card for a second time. They done all this with no just cause, I have never made a minimum payment or been late, not once!!! They have done this on a couple cards, citi bank is a joke that screws over customers then gives you some nonsense excuse as to why. Screw you citibank!!

Moving significant funds into the platinum savings account, and wanted to remove two linked banks from a prior old account. Called Saturday and waited 25 minutes before I hung up, and then called Monday - somebody answered after about 13 minutes. I feel this is an issue and does not instill confidence (though George , the phone rep was very good). I was ready to move my new money back over to another bank that I know is more responsive on the phone, even though it was a slightly lower interest rate.

Needed to get a power of attorney activated and a regular savings account converted to a trust account for my very elderly father. Over 200k in this account.
Was told it was just a matter of uploading a couple of documents (signature page and trust certification) and it would be converted. Did that. No action until I was calling a supervisor on an almost daily basis to move things along. Received notice that his personal savings account was converted to a trust account. Problem is that they only listed my very elderly dad as the trustee. The estate planning
“specialist” who did the paperwork didn’t review a paragraph in a one page trust certification document indicating there was more than one trustee in the trust. Emails to the estates department and trust department about this serious problem continue to go unanswered.

I called and spoke with the supervisor who was working with me on this situation. Told me that if my dad wanted to have more than one trustee I had to create a joint account with my dad, and then convert that to a trust. Then wait for everything to process, which could be another 9 days on top of the delays it took for them to ultimately create this mess. He couldn't help me more because he was working on a "fraud" case and had to go. Apparently that is more important than the active conversion of over 200k in funds undertaken by the gross negligence of another cit employee.

I asked to speak to a manager (someone above supervisor) to get this resolved today. I was told that they are all in a meeting, but assured me that someone would get back to me today. Supervisor told me he didn’t think the manager could do much anyway. I told him I wanted to get all the money transferred out of that account through an ACH transfer to a bank already on file. I am legally allowed to do this according to their banking terms. I am poa and also a trustee on the filing of the trust application they botched. My dad wants this money out. Supervisor said I should not do this until I speak with a manager, and it was up to them. I could run into problems if I did. I assume the "problem"will be freezing his account. I asked if I could close the account and they said they’d have to “authenticate” my father before a check could be mailed out.

As expected, I never received any callback from a manager. I also anticipate that the account will get locked when very elderly dad will not be able to authenticate their questions. Due to the gross negligence of one of their own employees, they have created a situation where my father will not be able to access these funds and we will need to hire a lawyer to fight them. We have a very large firm on retainer ready to go, but this will be an expensive process.

My father and I want the money he has in CIT transferred by ACH transfer to another bank that is on file. I want CIT to clean up the mess they have created through their gross negligence. They need to revert that trust account back to his former personal savings account. My POA needs to be activated immediately. What they have done is not only unprofessional, but also unethical, illegal, and constitutes elder abuse.

So far, I am rating the opening an account process a 3 but I am in a holding pattern. I started this process 7 business days ago and no micro deposits have started, although they say in 3-5 days and they also had me transfer the minimum of $100 to open the account. I am confused isn't the $100 suppose to take place after the micro deposits have been confirmed and that the two institutions are connecting properly?

Next and more serious of an issue and something I see mentioned in one of the reviews here and on other social media sites as far back as one year ago. When you attempt to logon "as a new customer", the app wants to send a SMS code to your mobile phone, however, the dropdown box shows portions of 3 cell phone numbers (**********####) which are grayed out and not editable AND do not relate to me or my household. I am highly concerned why my phone number is NOT listed in this section ??

I have spoken to two representatives at CIT during the application opening process and they provided two very different explanations as to those unrelated phone numbers. So they were not on the same page or in the same training class. Therefore, customers are not getting consistent or correct information when it comes to account security just to open an account! I read on this site that the person was trying to close their account and they had the same issue with unfamilar phone numbers showing so that knocks out the reason my rep said it was showing incorrect phone numbers because the account isn't set up yet?

If this account can't be opened by Friday (3 days away) which would have been 10 business days to set this account up, I may have to reconsider this online savings account at all with CIT group. I was leaving Marcus by Goldman Sachs because CIT had a considerably higher interest rate but I am not at a comfortable level yet.

Customer service agent was very polite.

I withdrew my entire savings from CITBank months ago because of inept customer service and long wait times to reach a human being. Now that I want to officially close the account I get into a circular loop that keeps bringing me back to ways to access my account. I can't message the bank because one needs to access the account to send a secure message. A message comes up to send an SMS to my phone, but the 4 digits that show as part of my phone number are NOT my phone number. So glad I pulled my savings out. This organization should be shut down.

If there's 0 star, I ll grant it. Let me tell you something, if you think you get my info to open an account and the page disappear as if I never existed, I'll ruin your reputation by going through proper channels. I am no joke!!! Far worse yet, customers shouldn't link their account during the process of the application so that you can peek and partake where they are getting the source of their money. That's a fraudulent and a suspicious act!!!

I try to get with credit card issue, and could get help. In fact it seem like the bank did not want help with issue.

Could not transfer online for no reason. Kept saying unavailable try again later. Tried to call and no call was answered after an hour. Looking to transfer all funds

I really don't understand all the negative reviews. I kept my emergency fund with CIT Bank for over a year. Customer service was always quick and excellent and they connected you with a real person in 10 minutes. I was helped after 10 mins of calling in and the person was competant and kind. I was initially scared about keeping my money in an online branch - but I had a fantastic experience with CIT. Good rates and I did not have a fee due to having a platinum savings. It was always easy to transfer money out when I needed it, again with no fees. They sent a 1099 to my house during tax season. These guys are awesome. Cannot reccomend them enough. I had to transfer money out and close my account a year and a half later cuz I got married and it took me less than five minutes and they made it so easy. They were very gracious and kind about me leaving. Awesome customer service and great bank. Since closing my account and having such a great experience overall I felt like I owed it to them to leave a great review, loved this bank!!!!

I was approved and opened a high yield savings account with cit bank a week ago and then they asked me to fund it. I requested to transfer from 3 of my savings accounts to theirs and it took 3 days and as soon as they received the funds they closed my account and put it in review and will tell me nothing about when I will get my savings back. They will not let me contact whatever department is reviewing it. They give no explanations and have just kept the money so far. I have opened a cfpb complaint and have called multiple times to try to find out what is going on and when I will have my savings released but they will not give answers. I advise not to put your savings here as I did not read all the bad reviews and them repeatedly doing things like this to customers until after they have done it to me. I have savings with 7 other banks and none of them have done this for the exact same transactions and funding types. Terrible customer service and terrible policies and procedures. They should not have approved my application if this was what they were going to do once I used their account.

Citing Bank NYC and their subsidiaries
Home Depot Citi Cards and more outrageous is The Costco Citi Card .
The issued a card under my wife’s name and later without our permission or knowledge made me the primary . How does this happen in the United States ?
We had clearly stated that my wife and I a two separate individuals .
Anywho , Citu Bank and its subsidiary Citi Cards USA have ruined our peace of mind and sanity .
Truly pathetic and inexcusable
If there is a negative zero I would give them that
Worst banking fraud that I have witnessed first hand
Abdul T Razack

I am wary of CIT for two reasons: 1. They switch rates frequently and develop new names for accounts that have better interest and try to get you to call in to open the better interest rate account, 2. They have (had) a policy that you could not access(transfer) your money unless you called in to listen to a sales pitch and defend why you wanted to withdraw assets.

This company is very user UNFRIENDLY! I have been dealing with them for over a month to file a power of attorney. After jumping through all their hoops with paperwork and notarized forms, when I call to talk with someone about the status, I am told they will "reach out to me" in 3-5 business days, which has already been 10 business days. When I ask to speak to the "department" that handles this, I am told they will reach out to me on their own time. They will NOT call me. What horrible service. They have a LOT of our money in their possession. I will NEVER give them another cent!

I have an amazing experience

CIT bank has a very poor customer service and a web site which is difficult to navigate. There are significant limitations to make any specific transactions on CIT site and if your CD matures they allow 10 days to make changes but immediately the CD that matures goes to a lower rate if no action taken. A web transfer from a CIT account inside the bank takes 2-3 days and you do not know where the money is. It an inferior experience dealing with this bank compared to others. I am closing my account as soon as my CD clears to my savings account. Operators are rude and unhappy to help.