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Citizens Access® Savings Account Review: A High-Yielding Account With No Fees

Review Updated
Matt Frankel, CFP®
Matt Frankel, CFP®
| 2 others [ + ]
Steven Porrello
Steven Porrello
Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
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Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Citi is an advertising partner of Motley Fool Money. APY = Annual Percentage Yield.

The Citizens Access® Savings account might be right for you if: You want to earn a high APY on a free online savings account. The APY on this account is more than 18x the national rate; however, since the account is strictly online, your deposit and withdrawal options will be limited.

  • Our team of experts assessed 100+ banking institutions
  • We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
  • Our bank ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased
Ratings Methodology
Rates as of Jun 29, 2025

Citizens Access® Savings

Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
APY
3.70%
Min. To Earn APY
$0.01
  • Competitive APY
  • No account fees
  • Unlimited transfers and withdrawals
  • FDIC insured
  • No wire transfers (inbound or outbound)
  • No checking account offered at same bank
  • No ATM access
  • No branch access; online only

Citizens Access® Savings offers a highly competitive APY and most of the features you'd expect from a reputable online savings account. Beware that wire transfers are not permitted — which may be inconvenient if you plan to pay a mortgage down-payment or closing costs from this account. Otherwise, funds should be easy to access through online transfers.

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Promotion Next Steps
3.60%
Rate info Circle with letter I in it. 3.60% annual percentage yield as of June 29, 2025. Terms apply.
Min. to earn: $0
N/A
up to 3.80%
Rate info Circle with letter I in it. SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn: $0
N/A
3.90%
Rate info Circle with letter I in it. Balances less than $250,000 earn 3.90%, and balances greater than $250,000 earn 4.10%.
Min. to earn: $0
N/A
Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Full Citizens Access® Savings review

Citizens Access® Savings is a solid choice for many people looking to get more money out of their savings. Is it right for you? That's something only you can decide. Keep reading for a rundown of the top perks and potential drawbacks of this savings account from Citizens to help you make a decision that fits your life.

Citizens Access® Savings interest rate

Account APY Minimum Deposit
Citizens Access® Savings 3.70% $0.01
Data source: Citizens Bank.

Citizens is offering a very competitive APY, and you can reap the rewards with any amount of money in your account. This one could be a great fit for beginning savers.

Fees

Most online banks don't charge fees that are common among brick-and-mortar banks, such as account opening or maintenance fees. Citizens is no exception -- there are no fees associated with the account.

Minimum balance

A minimum deposit of $0.01 is required to open the account. After that, your money will earn the full APY regardless of your balance.

Withdrawal limit

There is no withdrawal limit on your Citizens Access® Savings account. However, since this is an online bank without physical branches or ATMs, you are limited in terms of how you can access your money.

Mobile app

Citizens offers a stellar banking app with all the functions you need to meet basic banking needs. You can view your accounts, deposit checks directly to your account, and transfer money in and out of your account.

That said, it lacks some of the more robust features of other banking apps, such as the ability to monitor all your financial accounts, including those not with Citizens, in one dashboard.

How to access your money

Although it's backed by branch-based Citizens, Citizens Access® Savings doesn't offer branch or ATM access to its customers. It also doesn't support a paired checking account.

Deposit options

There are two ways to add money to a Citizens Access® Savings account:

  • Make an online transfer from a checking or savings account you have at another U.S. bank. Linking accounts is the primary way that Citizens customers deposit and withdraw money to and from their accounts.
  • Deposit a check. You can do this through the mail, or through the Citizens mobile app. Some online savings accounts don't offer mobile check deposits through an app, so this can be a convenient differentiator.

Withdrawal options

You have two options to withdraw money from your Citizens Access® Savings account:

  • Link the account to another account you own at a different financial institution (such as a branch-based checking account) and set up a transfer.
  • Ask Citizens to mail you a check.

Online user reviews

While Citizens has an overall rating of just 1.2 out of 5 stars on Trustpilot and 1.07 out of 5 stars on BBB, among users of its app it scores much higher -- with a 4.7 out of 5 star rating in the App Store and 4.7 out of 5 in the Google Play Store.

Top perks

High APY: At 3.70% as of June 2024, Citizens Access® Savings has one of the highest APYs of the high-yield savings accounts we cover. And unlike some competitors, there's no special condition -- such as setting up direct deposit -- required to get the top rate.

Easy account opening process: Opening a Citizens Access® Savings account is user-friendly and easy, and can be done in about five minutes.

No fees: Citizens doesn't charge fees for its savings products, including no account opening or maintenance fees.

Strong customer support: Although Citizens doesn't have any branches, it offers help by phone seven days a week, and its Mon-Fri hours of 6 a.m. to 12 a.m. EDT are among the best for live support in the online banking industry.

What could be improved

No checking account offered: Unlike with some of the other online high-yield savings accounts we cover, Citizens doesn't offer an online checking account product, which limits the ways you can access your money and means you can't write checks.

No branches: Citizens Access® Savings is a fully online account.

No ATM access: ATM access for savings account customers isn't universal, but several of the top-rated online savings accounts offer the ability to access money through an affiliated ATM network. With Citizens, there's no ATM availability.

Is Citizens Access® Savings FDIC insured?

Yes, Citizens Access® Savings is FDIC insured. Depositors will enjoy up to $250,000 of FDIC insurance per account type.

The Citizens Access® Savings account might be for you if:

The Citizens Access® Savings account is best suited for customers who have checking accounts at other U.S. financial institutions, who want to maximize their savings yield. It is not likely to be the best choice for people who frequently need to deposit cash, want ATM access to their money, or want the convenience of bank branches.

FAQs

  • Citizens offers a high-yield savings account through its Citizens online-only banking subsidiary. Citizens Access® Savings is the name of the account, and while interest rates fluctuate over time, it tends to offer APYs on par with some of the best online banks in the nation.

  • Citizens is a legitimate, FDIC-insured bank. It is one of the oldest and largest financial institutions in the United States.

  • Interest is compounded daily and credited to your account monthly.