About
First Citizens Bank is a U.S.-based financial institution that offers various banking services, including personal and business banking, wealth management, and digital banking solutions. The bank was founded in 1898 and is headquartered in Raleigh, North Carolina.
First Citizens Bank operates more than 550 branches across 22 states, primarily in the southeastern U.S. The bank offers its customers checking and savings accounts, credit cards, personal loans, mortgages, and other banking products. It also provides commercial banking services, such as treasury management, lending, and deposit services, to businesses of all sizes.
In addition to its traditional banking services, First Citizens Bank also offers wealth management and investment services through its subsidiary, First Citizens Wealth Management. The bank's digital banking platform, known as Digital Banking by First Citizens, provides customers with a range of online and mobile banking services, including bill pay, mobile deposits, and account management.
The bank has a long history of providing reliable banking services to its customers. Its wide range of products and services make it a popular choice for individuals and businesses alike.
Key Features
Some key features of First Citizens Bank include:
- A wide range of banking products and services, including personal and business banking, wealth management, and digital banking solutions.
- More than 550 branches across 22 states in the southeastern U.S.
- Commercial banking services, including treasury management, lending, and deposit services, for businesses of all sizes.
- A digital banking platform known as First Citizens Digital Banking provides online and mobile banking services.
- First Citizens Wealth Management subsidiary offers investment and wealth management services.
- Long history of providing reliable banking services to its customers.
- Award-winning customer service, with a commitment to putting customers first.
Overall, First Citizens Bank offers a comprehensive suite of banking services, focusing on providing excellent customer service and a commitment to helping individuals and businesses achieve their financial goals.
Requirements
The specific requirements for opening an account or obtaining a service from First Citizens Bank may vary depending on the type of account or service requested and the state and federal regulations governing banking and financial services. However, some general requirements for opening an account or obtaining a service from First Citizens Bank include the following:
- Meeting minimum age and identification requirements, such as being at least 18 years old and providing a valid government-issued ID.
- Providing personal and/or business contact information, such as a physical address, phone number, and email address.
- Depositing a minimum amount of money to open an account, which can vary depending on the type of account.
- Meeting creditworthiness standards, such as having a certain credit score or a satisfactory credit history, for obtaining certain types of loans or credit products.
- Agree to the terms and conditions of the account or service being requested, including any fees, interest rates, and other applicable policies.
- Providing any additional documentation or information required by First Citizens Bank to comply with legal or regulatory requirements.
Overall, the specific requirements for opening an account or obtaining a service from First Citizens Bank will depend on the specific product or service being requested, the customer's financial circumstances, and creditworthiness. Customers are encouraged to contact the bank directly or visit their website for more information on specific requirements for opening an account or obtaining a service.
Access on the Go
First Citizens Bank offers several options for accessing accounts on the go, including:
- Mobile Banking App. The app allows customers to view account balances and transactions, pay bills, transfer funds, deposit checks, and more.
- Online Banking. Customers can access their accounts through First Citizens Bank's online banking platform. This platform allows to view account balances and transactions, pay bills, transfer funds, and more from a desktop or laptop computer.
- Text Banking. First Citizens Bank offers text banking, which allows to check your account balances and transaction history by sending a text message to the bank.
- Automated Phone Banking. Customers can also access their accounts by calling First Citizens Bank's automated phone banking system. With this system they can check account balances, review transactions, and transfer funds.
- ATMs. First Citizens Bank has a network of ATMs that can be used to withdraw cash, transfer funds, and more.
Overall, First Citizens Bank offers a variety of convenient options for accessing accounts on the go, so customers can manage their finances whenever and wherever they need to.
First Citizens Bank products
First Citizens Bank offers a wide range of products and services to meet the financial needs of individuals, families, and businesses. Here are some examples of the types of products and services:
- Checking Accounts. Customers are offered various personal and business checking accounts to meet different needs. Personal checking accounts include free checking, Premier Checking, and Prestige Checking. In contrast, business checking accounts include options such as Business Checking of different types, Business Advisor Checking, and CORE Analysis Business Checking. In addition, some accounts have no monthly fees or minimum balance requirements, while others offer perks such as interest and discounts on other bank products.
- Savings Accounts. First Citizens Bank offers a range of personal and business savings accounts, including options such as Online Savings, CD Accounts, and Money Market accounts. These accounts typically offer competitive interest rates and can help customers save for specific goals or build an emergency fund.
- Credit Cards. The bank provides a variety of credit card options for personal and business use, including rewards cards that offer cash back, points, or miles on purchases. Cardholders can also take advantage of features such as no annual fees, introductory 0% APR periods, and fraud protection.
- Mortgages and Home Equity Lines of Credit (HELOCs). A range of home financing options includes fixed-rate and adjustable-rate mortgages, FHA and VA loans, jumbo loans, and more, to help customers obtain their dream home. Homeowners can also take out a HELOC, which allows them to tap into their home equity to finance significant expenses or renovations.
- Personal Loans and Lines of Credit. First Citizens Bank offers personal loans and lines of credit for various purposes, such as debt consolidation, home improvements, or unexpected expenses. Customers can choose from secured or unsecured options with fixed or variable interest rates.
- Business Loans and Lines of Credit. Lending options for businesses of all sizes include term loans, lines of credit, equipment financing, and SBA loans. Loans can be used for purposes such as working capital, expansion, or equipment purchase.
- Treasury Management Services. First Citizens Bank provides various cash management and payment solutions for businesses, such as ACH origination, wire transfers, remote deposit capture, and lockbox services. These services can help businesses optimize their cash flow, reduce costs, and streamline their accounting processes.
- Wealth Management and Investment Services. Through its subsidiary First Citizens Wealth Management, First Citizens Bank offers a range of investment and wealth management services, including financial planning, investment management, trust and estate planning, and retirement planning.
- Digital Banking Services. The bank provides a suite of online and mobile banking tools, including bill pay, mobile deposit, account alerts, and budgeting tools. Customers can access their accounts anytime, anywhere, and enjoy features such as mobile wallets and person-to-person payments.
- Insurance and Risk Management Services. First Citizens Bank offers insurance and risk management solutions for businesses, such as property and casualty insurance, workers' compensation, and employee benefits. These solutions can help protect businesses from unexpected losses and reduce their overall risk exposure.
Overall, First Citizens Bank offers a comprehensive range of products and services to meet the financial needs of individuals and businesses alike. Customers are encouraged to contact the bank directly or visit their website for more information on specific products and services, including current rates and fees.
Which associations does First Citizens Bank belong to?
First Citizens Bank is a member of several associations, including:
- Federal Deposit Insurance Corporation (FDIC). First Citizens Bank is insured by the FDIC, which provides deposit insurance to protect depositors in case the bank fails.
- American Bankers Association (ABA). The financial institution is a member of the ABA, the most extensive banking trade association in the United States. The ABA represents banks of all sizes and charters and advocates for policies promoting the banking industry's strength and stability.
- North Carolina Bankers Association (NCBA). First Citizens Bank is based in North Carolina and is a member of the NCBA, which is a statewide trade association representing banks and financial institutions in North Carolina. The NCBA provides advocacy, education, and networking opportunities for its members.
- South Carolina Bankers Association (SCBA). The bank also operates in South Carolina and is a member of the SCBA, which is a similar trade association representing banks and financial institutions in South Carolina.
- Independent Community Bankers of America (ICBA). First Citizens Bank is a member of the ICBA, which is a national trade association representing community banks across the country. The ICBA advocates for policies and regulations that support community banks' unique needs and challenges.
Overall, First Citizens Bank is actively involved in the banking industry and is a member of several key associations that support and represent the interests of banks and financial institutions.
Bank Reliability
First Citizens Bank has a long history of stability and reliability. It was founded in 1898 and has grown to become one of the largest family-controlled banks in the United States. The bank is headquartered in Raleigh, North Carolina, and has over 550 branches across 22 states, with over $50 billion in assets.
First Citizens Bank is also highly rated by third-party rating agencies for its financial strength and stability. For example, First Citizens Bank has a 4-star rating (out of 5) from Bauer Financial, a leading bank rating agency that evaluates the financial strength of banks and credit unions in the United States.
In addition, First Citizens Bank has a long-term credit rating of A+ from Standard & Poor's, which is one of the highest credit ratings for banks. This rating reflects the bank's strong financial position and ability to meet its financial obligations.
Overall, First Citizens Bank, as Member FDIC and an Equal Housing Lender, has a solid reputation for stability and reliability, with a long history of serving its customers and communities. The bank's financial strength and high ratings from independent rating agencies are further indications of its reliability and trustworthiness.
First Citizens Bank vs. Flagstar bank
First Citizens Bank and Flagstar Bank are both financial institutions that offer a range of banking products and services. However, there are some key differences between the two banks. Here are a few:
- Size and Geographic Reach. First Citizens Bank is a larger bank than Flagstar Bank, with over 550 branches across 22 states, while Flagstar Bank has over 395 branches across nine states.
- Ownership and Management. First Citizens Bank is a family-controlled bank, with the Holding family owning a majority of the shares, while Flagstar Bank is a publicly traded bank.
- Product Offerings. While both banks offer a range of banking products and services, there are some differences in their product offerings. For example, First Citizens Bank offers a broader range of wealth management and investment services. In contrast, Flagstar Bank offers a range of mortgage products, including jumbo loans and government-backed loans.
- Technology and Digital Capabilities. Both banks offer online and mobile banking services, but First Citizens Bank has been investing heavily in its digital capabilities, focusing on providing a seamless and intuitive user experience across all channels.
Overall, both First Citizens Bank and Flagstar Bank are reputable financial institutions with a range of products and services to meet the needs of their customers. However, key differences in size, ownership, product offerings, and digital capabilities may be relevant when choosing a bank.
First Citizens Bank vs. BMO Harris
First Citizens Bank and BMO Harris are both financial institutions that offer a range of banking products and services. Here are some key differences between the two banks:
- Size and Geographic Reach. BMO Harris is a smaller bank than First Citizens Bank, with over 500 branches across eight states, while First Citizens Bank has over 550 branches across 22 states.
- Ownership and Management. BMO Harris is a subsidiary of BMO Financial Group, a Canadian bank holding company, while First Citizens Bank is a family-controlled bank, with the Holding family owning most of the shares.
- Product Offerings. Both banks offer a range of banking products and services, but there are some differences in their product offerings. For example, BMO Harris offers a range of credit cards and personal loans, while First Citizens Bank offers a broader range of wealth management and investment services.
- Technology and Digital Capabilities. Both banks offer online and mobile banking services, but First Citizens Bank has been investing heavily in its digital capabilities, focusing on providing a seamless and intuitive user experience across all channels.
Overall, both First Citizens Bank and BMO Harris are reputable financial institutions with a range of products and services to meet the needs of their customers. However, key differences in size, ownership, product offerings, and digital capabilities may be relevant when choosing a bank.
First Citizens Bank vs. Fifth Third Bank
First Citizens Bank and Fifth Third Bank are both financial institutions that offer a range of banking products and services. However, here are some key differences between the two banks:
- Size and Geographic Reach. Fifth Third Bank is a larger bank than First Citizens Bank, with over 1,100 branches across 11 states, while First Citizens Bank has over 550 branches across 22 states.
- Ownership and Management. Fifth Third Bank is a publicly traded bank, while First Citizens Bank is family-controlled, with the Holding family owning a majority of the shares.
- Product Offerings. Both banks offer a range of banking products and services, but there are some differences in their product offerings. For example, Fifth Third Bank offers a range of credit cards and personal loans, while First Citizens Bank offers a broader range of wealth management and investment services.
- Technology and Digital Capabilities. Both banks offer online and mobile banking services, but First Citizens Bank has been investing heavily in its digital capabilities, focusing on providing a seamless and intuitive user experience across all channels.
Overall, both First Citizens Bank and Fifth Third Bank are reputable financial institutions with a range of products and services to meet the needs of their customers. However, key differences in size, ownership, product offerings, and digital capabilities may be relevant when choosing a bank.
First Citizens Bank vs. KeyBank
First Citizens Bank and KeyBank are both financial institutions that offer a range of banking products and services. Here are some key differences between the two banks:
- Size and Geographic Reach. KeyBank is a larger bank than First Citizens Bank, with over 1,100 branches across 15 states, while First Citizens Bank has over 550 branches across 22 states.
- Ownership and Management. KeyBank is a publicly traded bank, while First Citizens Bank is family-controlled, with the Holding family owning most of the shares.
- Product Offerings. Both banks offer a range of banking products and services, but there are some differences in their product offerings. For example, KeyBank offers a range of credit cards and personal loans, while First Citizens Bank offers a broader range of wealth management and investment services.
- Technology and Digital Capabilities. Both banks offer online and mobile banking services, but First Citizens Bank has been investing heavily in its digital capabilities, focusing on providing a seamless and intuitive user experience across all channels.
Overall, both First Citizens Bank and KeyBank are reputable financial institutions with a range of products and services to meet the needs of their customers. However, some key differences in their size, ownership, product offerings, and digital capabilities may be relevant when choosing a bank.
