CIT Bank Review of Checking and Savings Account

CIT Bank is an online only bank. It offers many services that include e-checking account, savings builder account and money market account.

CIT Bank offers Debit Card under MasterCard brand.
It means there is no foreign transaction fee.

You can enable and disable the card using Mobile App.
Another good feature is rebates or reimbursement of ATM fees.
Up to $15 per month.
Replacement of the debit card from CIT Bank will cost you $10 dollars.
But, you can replace it for free once a year.
Urgent replacement of this card will cost you $45.
The card has EMV chip, so it is rather secure.

Next topic is fees.
Outgoing wire transfer can be free if your balance is above $25k.
Otherwise it is $10
Return deposit will cost you $10
Overdraft is $30
And stop-payment is $30

CIT Savings Builder Account has APY of 1.3% if you have monthly deposit of $100 or balance above $25k
Regular APY is 1%.
As all savings accounts it has limit of 6 withdrawal transactions per month.
The excessive withdrawal will cost you $10
The interest compounds daily but posted monthly.

Mobile App is simple and kind of bare bones. It has very basic functionality.
No fancy charts. Users appreciate good mobile check deposit feature.
But they complain on broken fingerprint login.

Agenda:
0:48 Debit Card of CIT Bank
1:52 Fees of eChecking Account
2:13 CIT Savings Builder Account
2:50 Mobile App of CIT Bank

[-yp]

Do they accept direct deposits from employers to the echecking acc?