Citizens Bank makes checking simple again: No monthly maintenance fee if you make one deposit – of any amount – per statement period
One Deposit Checking from Citizens Bank™, the simplest checking account offered by a major bank, can be opened with as little as $25 and has no minimum balance requirement
Deemed one of the “Best Banks in America” by Money® magazine, Citizens Bank’s new approach to checking is part of its broader Bank Better initiative focused on making banking simple, clear and personal
PROVIDENCE, R.I. – Citizens Bank today announced the launch of a new checking account – One Deposit Checking from Citizens Bank – that sets a new industry standard for clarity, simplicity and ease of use, with no monthly maintenance fee if you make one deposit (of any amount) per statement period.
For customers who do not plan to make regular deposits or who write a lot of paper checks, prefer printed statements or expect to occasionally use out-of-network ATMs, the bank also is introducing Value Checking from Citizens Bank™. For a fixed fee of $3.99 per month, Value Checking accounts include exclusive design checks, paper statements and one transaction at another bank’s ATM with no fee from Citizens Bank or Charter One.
Both One Deposit Checking and Value Checking accounts can be opened with as little as $25 and have no minimum balance requirement. All Citizens Bank and Charter One checking accounts now also include the bank’s signature innovation, the $5 Overdraft Pass™ protecting customers from overdraft fees for transactions of $5 or less. All Citizens Bank and Charter One checking accounts now include $5 Overdraft Pass as a standard feature.
Like other Citizens Bank account holders, One Deposit Checking and Value Checking customers also have access to approximately 1,400 branches, more than 3,500 ATMs and the bank’s online banking and award-winning mobile banking services.
“This new approach to checking offers consumers the convenience you get from a bigger bank and the simplicity and pricing you might expect from a smaller bank,” said Brad Conner, Vice Chairman of Consumer Banking. “With One Deposit Checking, there is no longer any need to make that tradeoff between simplicity and convenience – you can now easily avoid monthly maintenance fees and still enjoy the convenience of a large ATM and branch network, 24/7 phone support and access to your accounts online and on your mobile phone.”
The bank designed the new easy-to-use checking accounts as part of its Bank Better initiative focused on making banking simple, clear and personal. Symbolizing the simplicity and clarity of its new checking products, the bank also is introducing a new translucent debit card that comes with any new checking account.
In addition to One Deposit Checking, Value Checking and the $5 Overdraft Pass, other recent Bank Better enhancements have included:
- Updated, easier-to-navigate Citizens Bank website.
- ATM messages notifying customers that their transaction may overdraw their account and offering the option to proceed or cancel the transaction.
- Proactive phone calls and letters to customers who frequently overdraft to offer information about overdraft choices.
- New Checking Account Guides and an online overdraft resource center for customers.
- An annual “report card” for student loan borrowers to eliminate the potential for sticker shock at graduation.
- Revised Personal Deposit Agreement and the Personal Account Fees & Features Guide that make it easier for customers to find the information they need.
- A Checking Quick Start Guide to help new customers learn about their accounts and take advantage of services like direct deposit, Online Banking and Bill Pay, Mobile Banking and more.
Still ongoing are other Bank Better projects like:
- A bank-wide effort to review and rewrite more than 3,000 types of customer letters to make them more clear and helpful for customers.
- The introduction of a new digital teller system that is making “paperless branches” a reality.
- The introduction of a state-of-the-art ATM network.
- Enhancements to the bank’s award-winning Mobile Banking and Online Banking services.
- Training programs focused on helping colleagues understand and serve individual customer needs.
To learn more about Citizens Bank, customers can call the 24/7 customer contact center at 1-800-922-9999, Like the bank on Facebook, follow the bank on Twitter or visit the Citizens Bank website.
About Citizens Bank
Citizens Bank is a division of RBS Citizens, N.A., operating its seven-state branch network in Connecticut, Delaware, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. It has 47 branches and 125 ATMs in Connecticut. It has 24 branches and 52 ATMs in Delaware. It has 252 branches and 749 ATMs in Massachusetts. It has 74 branches and 194 ATMs in New Hampshire. It has 154 branches and 379 ATMs in New York. It has 82 branches and 193 ATMs in Rhode Island. It has 21 branches and 44 ATMs in Vermont.
RBS Citizens, N.A., is a subsidiary of RBS Citizens Financial Group, Inc., a $120 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has approximately 1,400 branches, over 3,500 ATMs and more than 18,000 colleagues. It operates a branch network in 12 states and has non-branch retail and commercial offices in more than 30 states. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG is owned by RBS (the Royal Bank of Scotland Group plc). RBSCFG’s website is citizensbank.com