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CIT Bank Customer Reviews

(14 Reviews)
2 out of 5 stars
5 Star 1
4 Star 0
3 Star 0
2 Star 5
1 Star 8

The Most Helpful CIT Bank Reviews

The most helpful favorable review
Reviewed By Jennifer McElm May 13, 2013

Very professional and helpful

I just wish they were open weekends and evenings (I'm on the West Coast). That's no big deal though, just plan ahead.

They've been very good, no mistakes, super nice and competent customer service reps. And their rate doesn't go up and down every other day like so many online banks.

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Vs.
The most helpful critical review
Reviewed By anon159 Sep 8, 2016

CIT bank holds matured CD funds as long as they can get away with it

The title says it all.
If funds are to be released by check, forget about it getting mailed, much less delivered, promptly. Then, expect the robot response from CIT of 7-10 days to expect to get it. When they delay mailing for 3-4 days, 7-10 days sounds be about right.

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Latest CIT Bank Reviews

  • A
    Reviewed By anon159 Sep 8, 2016

    CIT bank holds matured CD funds as long as they can get away with it

    The title says it all.
    If funds are to be released by check, forget about it getting mailed, much less delivered, promptly. Then, expect the robot response from CIT of 7-10 days to expect to get it. When they delay mailing for 3-4 days, 7-10 days sounds be about right.

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  • U
    Reviewed By uncle0999 Jun 24, 2016

    Cit failed to pay interest on CD

    I purchased a Cit CD through Fidelity Investments. The CD had a call provision and was called by Cit on 6/22/16. Cit owed interest for 5 months at the call date and as of 6/24/16 I have not received the interest due. Fidelity has been unable to get a response from Cit regarding the reason for non-payment.

    Beware. I owned Cit bonds a few years back, they defaulted and I lost large $$$. Thought is they are FDIC insured, would be ok, now not sure.

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  • H
    Reviewed By highinterest Mar 6, 2016

    Competitive interest rate but website is terrible

    I have had an account with them for years. It's kind of irritating that they won't send a paper statement, you can only download them from the really clunky, disoriented website. But the lack of mailed statements is not the big issue, it is the website. I have many accounts at different online banks, and I have to say that the CIT site is the worst, by far. Not at all intuitive to navigate. One huge frustration to me is that the site seems to not remember that I have set up "security questions" in the past (many times!) so about twice a year it forces me to set up new security questions. It is to the point where I now have more than a dozen security questions and answers I have to keep track of. It is frustrating and ridiculous. In addition it seems to forget that I have registered my phone number with them a number of times, the site keeps asking me to register again, as if I never have. And I have to set up all these new security questions and phone numbers before I can move on to making my transactions, making it a very slow process! Another absolutely terrible thing is that when you make an external transfer to or from another banks linked account through the CIT site, the CIT transaction procedure does not have a confirmation step that shows the transaction information that you have entered, which all banks have because it gives you a chance to review the transaction before you confirm it is exactly as you wanted. So with CIT you enter you transfer details, and when you click "submit", it submits without giving you a chance to review details to ensure that you didn't make an error. And then it doesn't even give you a message that the transfer was successfully scheduled! You actually have to navigate to the "pending transfers" link to make sure it was scheduled. These are all things I think they would fix over the span of all the years I have banked with them, but they never do. If they did offer the competitive interest rate that they do, I would never consider keeping money in their bank.

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  • K
    Reviewed By Kpaharia Feb 29, 2016

    Be Aware what you getting into and make notes

    Open a CD and they just withdraw money from from your account and never even send you the statement for withdrawing ot statement showing what kind of CD and when it got funded. You never receive a single piece of paper from them confirm any action. I did not get yearly tax statement either. If you point out their bad customer service vs other banks, they say they are different. Representative are like robot with no common sense and logical skills to understand why customer is upset and making suggestions to change.

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  • E
    Reviewed By Everson Aug 8, 2015

    Stupid Requirements

    Already have over 250K in this bank. Wanted to open a new account with my wife and daughter as joint owners. Was told they would have to speak to my Daughter and then submit it to management for approval. How dumb is that. Primary reason for the three names was because of FDIC INSURANCE on accounts in excess of 250K per depositor. Not only will I not make the additional deposit, I will withdraw the 250K when the CD matures in Sep. Banks pay nothing in interest and then some want you to jump through loops just to take your money. Not worth it to me.

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  • F
    Reviewed By Ferryboater Feb 21, 2015

    Terrible Bank

    After trying to get info on transferring money in to open a CD, I learned that I'd first have to apply online before getting access to transfer forms. The online process required detailed information and when I called because I needed help with the app, I got the least customer-oriented CSR I've ever dealt with. She was annoyed when I asked her to walk me through what I was having difficulty with and said "this is an online bank." I used up a lot of printer ink before deciding I want nothing to do with this bank.

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  • S
    Reviewed By Saver321 Feb 2, 2015

    This Is Not An Online Bank

    I set up an account online specifying another bank to fund it via ach transfer. After a couple of days the test deposits arrived and i inserted them into the cit "application". After another few days i got an email stating my account was approved and open. I went to the website and found no way to transfer funds either way to any external account. I called customer service and was told that external transfers had to be requested and the original funding source would have to be requested again and requalified. I subsequently got a phone call from the fraud unit to check on my request for external transfers and had to answer a set of questions before it would be enabled. The rep said that all of this could easily be done over the phone instead. The bank just does not see itself as an online bank. It also limits online transfers to $5k a day and since there is a limit of 6 transfers only a max of $30k a month can be transferred. However transfers of any amount can be made over the phone. If you want an online bank don't choose cit, if you want to transact over the phone during limited hours.

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  • A
    Reviewed By albemarle Dec 9, 2014

    Service Is Bad, Bad, Bad

    Terrible experience. They couldn't get my online account straight and even though i tried to get to a supervisor, they were never available. They promised to have a supervisor call me (twice) and i'm still waiting, days later, for their call. Go elsewhere.

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  • K
    Reviewed By kyl.cmu Oct 2, 2014

    Simply The Dumbest Bank Ive Ever Dealt With

    We just opened an account for 55k, and CIT called us claiming that my other bank blocked the money transfer to CIT. It turned out the transaction did go through and cit duplicated the transaction overdrawing my account by 110k. Then they gave me the runaround to talk to my other bank to block the duplicated transactions when cit in fact already had the funds. Then i spoke to 3 representatives just to get them to send back the money they overdrew.

    I even got a supervisor to promise me that everything will be taken care of in days. It's been over a week when they still haven't done it. I had to call them again, for the 6th time in a week, to make sure that they get this right, and good that i did because cit then tells us they were about to send both transactions back and leave me with a balance of zero at cit.

    How incompetent are these people that they can fck up a simple transaction to open an account 5 different ways? I had the pleasure of working indirectly for ceo john thain in the past and think highly of him. He's a very sharp guy, but apparently intelligence stops at the top levels and employees on the frontline can not even open an account properly. If this is a representation of the rest of the bank, then id be really worried about keeping money there and probably need 2% more interest on cit saving accounts to deal with the incompetence and risk.

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  • C
    Reviewed By craigd May 5, 2014

    Weird customer service - trying to deposit money into account.

    I was happy to see higher saving rates so decided to open the account. But I got pretty weird responses from their customer service that made me concerned if Bank is legit or not. First of all, they stole name of Citibank and they call themselves Citibank. Whatâ??s in a I?? So doing some online search to see feedbacks, generally found poor feedbacks except the rate part.

    For my situation, I wanted to wire funds in to deposit into my account, and customer service is where I got very concerned. Here is my experience:

    â?¢ Called â?? long waits, & due to personal preference emailed instead
    â?¢ I simply requested to provide wiring instructions into my account & customer rep responded with in few hours:
    o â??In order to wire funds into CIT Bank you will need contact your bank where the funds are currently being held and have them send the wire.â??
    â?¢ I was bit disappointed to receive such an response. So I wrote again, saying that I am looking for wiring instructions & got following response:
    o â??I am not sure what information your bank requires. You will need to ask them. You can give them your account number, xxxxx, and then CIT Bank's routing number which is xxxxxxx. â??
    â?¢ I wrote again that my bank needs your physical address as well.
    * Wiring is slow
    * they don't allow international wires

    Overall I am babysitting this issue of depositing money into account for 2 days tracking these emails & dealing with their customer service.

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