Yes, the minimum deposit required to open an Online Savings account is $5,000.
While the minimum account opening balance is $5,000, withdrawals may cause your balance to fall below that threshold. If the daily balance falls below $5,000, you will earn a lower interest rate. Since our goal at Citizens Access is to ensure our customers are earning one of the best interest rates available on their savings, we will reserve the right to close your account should the balance remain below $5,000 for an extended period of time, see our Deposit Account Agreement for more details.
Yes, your Citizens Access Online Savings accounts are FDIC insured up to the maximum allowed by law. Citizens Access and Citizens Bank, N.A. are treated as the same entity for the purpose of calculating FDIC insurance limits and deposits, under the FDIC certificate #57957. For more information about your own personal level of coverage, please visit the FDIC's Electronic Deposit Insurance Estimator (EDIE).
You can easily fund or add money to your Citizens Access Online Savings account(s) in one of two ways:
1. Online Funds Transfer - Using the routing number and account number of your checking or savings account at another U.S. financial institution, you can link that external account to Citizens Access and then make an online transfer into your Citizens Access account.
2. Deposit a check - Ensure the check is made payable to you from another U.S. financial institution (no foreign checks). Endorse the back of the check with your signature, your Citizens Access account number and "For Deposit Only to Citizens Access" on the endorsement line. You can deposit your check by signing into your account from your phone and selecting "Deposit a Check" from the Move Money menu and follow the on screen prompts. Alternatively, you can mail your check to us at the following address:
PO Box 6801
Carol Stream, IL 60197- 6801
3. Direct Deposit - Provide your account and routing number to your Payroll Department. If your Payroll Department requires formal documentation, it can be found here: Direct Deposit Authorization Form.
Please note, you must make an initial deposit within 30 days of account opening. Additionally, we will not accept cash deposits or wire transfers. All deposits to your accounts, regardless of how they are made, are subject to verification, final payment and our Funds Availability policy.
Your Online Savings account has a variable interest rate which is subject to increase or decrease daily after account opening without notice. Interest is calculated based on the daily collected balance and is compounded daily and paid monthly.
Simply log in to your account, select Transfer Funds from the Move Money menu, and transfer the desired amount into your external account. It can take 2 to 3 business days for the funds to be posted by your external bank. You can also call us to request to have a check mailed directly to you. And remember, you’ll only be able to make up to 6 outgoing transfers and/or withdrawals per statement cycle due to federal regulations.
Six. Federal regulations place a limit of six withdrawals and/or outgoing transfers from your savings account per statement cycle. As required by the regulation, we monitor these accounts to ensure the transaction restrictions are observed. If you repeatedly exceed the permissible amount, we may be required to close your account.
Any electronic transfer or withdrawal that reduces your account balance, initiated by Citizens Access or any other institution, counts toward the federal transaction limits.
Yes, you may close your account online by navigating to the "Close Account" page in the "Account Services" menu. Alternatively, you can call us at 888-201-6505. should you need assistance in closing your account.