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Citizens Bank Review

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Reviews 34

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Sally Herigstad
Sally Herigstad
May. 03, 20214 min read

Citizens Bank summary

Citizens makes it easy for you to refinance one or more student loans in as little as fifteen minutes. Their loans are made by Citizens Bank, a fully insured bank. You can refinance your student loans to remove a cosigner, consolidate multiple loans, or lower your interest rate. The average Citizens customer who refinances student loans to take advantage of a lower interest rate saves $2,628 per year.

Pros

  • Apply to refinance student loans in 15 minutes
  • Automatic payment discount of 0.25 percentage points
  • No application, origination, or disbursement fees

Cons

  • Minimum of $10,000 in student loans to refinance
  • Must be a U.S. citizen, permanent resident, or resident alien
Citizens Bankat a glance
4.2

Editorial score

Online experience

"Has learning resources, access to rates, mobile app"

5.0

Customer services and support

Multiple ways of reaching lender, wide range of hours

4.0

Repayment flexibility

Offers multiple repayment plans- but no special repayment programs

4.0

Loan Types Covered

Covers most student loan types

4.0

Eligibility

Doesn't cover bad credit, low income borrowers

4.0

Citizens Bank Citizens Bank View Rates

Suitable For?

Student loan refinancing with Citizens is suitable for borrowers who are paying higher interest rates and want to refinance at current lower rates. Refinancing is also suitable for borrowers who want to consolidate multiple loans into one monthly payment.

Loan Features

Citizens offers student loan financing with these features:

  • Fixed-rate financing from 2.24% to 8.90% APR
  • Variable-rate financing from 2.97% to 9.15% APR
  • Loan refinanced from $10,000 and up

The Application Process

You can apply online for the Education Refinance Loan in 15 minutes, with three easy steps:

  1. Complete the application on your computer or mobile device. You can choose to add a cosigner to help you qualify, or to get the best rate.
  2. Select a fixed or variable rate loan with the number of years you would like to take to pay it off.
  3. Sign (with your cosigner, if applicable), and accept.

Loan Eligibility Requirement

To get student loan refinancing from Citizens, you must meet these requirements:

  • Age of majority in state of residence (unless qualifying cosigner applies)
  • Credit qualification
  • Not currently enrolled in school
  • For applicants with an Associate’s degree or no degree, must have made at least 12 qualifying payments after leaving school
  • U.S. Citizen, permanent resident, or eligible non-citizen with qualifying cosigner

You may be able to have someone cosign with you if you do not meet all the requirements.

Repayment Terms

You can choose to pay off your loan in 5, 7, 10, 15 or 20 years. The faster you pay off your loan, the less total interest expense you will pay.

Fixed-rate student loan refinancing starts as low as 2.24% APR, and variable-rate financing starts at 2.97%. 

The lowest interest rates apply to a 5-year repayment term and require the Loyalty and Automatic Payment discounts.

How Safe Is It? 

As one of the nation’s oldest and largest financial institutions, with total assets of $187 billion, Citizens Financial Group offers a safe, full-service banking experience. Citizens Bank works to continually enhance and maintain security standards and procedures. They use state-of-the-art security technology, including Secure Socket Layer (SSL) technology to transfer your information across the Internet to them.

You can help protect the security of your personal information by downloading the IBM Security Trusteer Rapport software. The download is free.

Help & Support

You can find help from Citizens in any of these ways:

  • Call 1-800-600-0008 for questions about your application, or 1-866-999-3767 for questions about your student loan, 8:00 am to 7:00 pm Monday through Friday and 8:30 am to 5:00 pm Saturday.
  • Message customer service via online chat.
  • Visit one of 1,000 branches in 11 states in the New England, Mid-Atlantic, and Midwest regions. 
  • Connect with Citizens on Facebook and Twitter.

Summary

Refinancing with Citizens combines the convenience and speed of online lending, with the security of dealing with one of the oldest and largest banks in the country. You can get competitive interest rates on your student loan refinance while consolidating multiple loans or removing a cosigner, if applicable. If you are paying a higher interest rate on your loans, refinancing at lower rates can lower your monthly payment and save you thousands of dollars over the life of your loan.

Physical Address

Citizens’ corporate headquarters are at:

One Citizens Plaza

Providence, RI 02903

Citizens Bank Citizens Bank View Rates

Methodology

This review was created with information from:

  • Company website
  • Using the company matching tool/quiz
Sally Herigstad
Written bySally Herigstad

Sally has been writing about personal finance since 1998 and is the author of “Help! I Can’t Pay My Bills” (St. Martin’s Griffin). She is a licensed real estate broker in Washington state and a retired certified public accountant. She writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

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Citizens Bank
PoorReviews 34
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Trustpilot reviews

See what some costumers are saying about Citizens Bank
Citizens Bank
PoorReviews 34
on
Excellent
3%
Great
0%
Average
0%
Poor
9%
Bad
88%
  • author
    John Doe
    3 days ago
    Thieves, Scum, Amateurs

    Thieves. Scum. Amateurs. Just a few words I would use to describe Citizens Bank.

    ...

  • author
    Ana Rodriguez
    Oct 16, 2021
    The worse customer service…

    The worse customer service ever!!!!!!!!! My plans were switch wasted an entire day waiting for customer service to answer they make you wait like 2 hours just to answer for stupid like i called so they can unlock my account waited in the prking lot for hours im pregnant still waiting got to the store at daytime and now is night time and then on top of it on e bo answer going on 2 hours now on hold

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  • author
    Helen Fong
    Sep 26, 2021
    They offer you the best interest rate…

    They offer you the best interest rate and will not approved. but underwriters keep asking similar questions and doesn't review the documents we sent. Need training for products, assets and knowledge. Horrible experience applying mortgage, keep delaying the process until the closing date, still pending. MISTAKE to choose Citizens Bank, A bank doesn't care the customer!!! Prefer NO STAR AT ALL

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  • author
    Bwidget
    Sep 22, 2021
    Terrible

    Terrible. Worst overdraft policies, no real benefits, no flexibility. Bad customer service. I would give them 0 stars if I could. Go anywhere else.

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  • author
    Joe Perreman
    Sep 20, 2021
    citizens bank - holder of money, decliner of service

    this bank is actually awful. it feels like i dont have access to my money more of the time than i do. their app is straight from a dumpster and is CONSTANLY undergoing maintenance so you always get the same "you account is not available at this time" pretty much every time you use the app, to make things comical they number you call for customer service recommends you use said service to waste more of your time. today i called because i coundnt use an atm, after sitting thru all these options and sub options (literally not one leads to a human) the call said it was being transferred, which really meant it was playing a "covid has effected our hours" message then hung up leaving me ABSOLUTLEY LIVID. nearly 10 business days ago (im waiting on 10) an atm ate my withdrawal while charging my account despite filing a claim right then and there i still have no word or retribution from citizens. In short cancel your accounts lol, they dont give two sh!ts about you

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  • author
    Paula Jones
    Sep 16, 2021
    IF I COULD GIVE ZERO STARS I WOULD

    IF I COULD GIVE ZERO STARS I WOULD. HORRIBLE CUSTOMER SERVICE. Someone stole money from my account, you would think I would be able to rectify the situation quickly. NOPE. They have you jump through all these hoops. Automated phone number has no option for speaking to an actual HUMAN BEING. I am extremely busy and had to take time i DON’T HAVE to visit the branch and talk to someone. Citizens Bank, you should be ASHAMED. EDIT: 2 stars for when I FINALLY figured out a different number to call. The customer service rep was very friendly. Still, the actual bank could be a bit more user-friendly because this took a lot more time than it should.

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  • author
    Live Free or Die
    Sep 08, 2021
    Terrible bank

    Terrible bank, terrible service. I'm sorry, but the only thing worse is the know-it-all arrogant staff and customer service - most of which are clearly low salary, low IQ 20-somethings. Not the place to trust with your hard earned money.

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  • author
    Eugene Chester
    Aug 31, 2021
    Its come to my understanding that some…

    Its come to my understanding that some of you are having issues with getting access to your money. I advise to complain about it to Recoup.live they're the ones who will help you get access to your money back.

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  • author
    PW
    Aug 26, 2021
    Not as advertised

    Despite what they advertise, they have extremely difficult loan consolidation guidelines to qualify. Super quick to reject applicants based on unreasonable income/debt factors for students.

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  • author
    Jim van der Keyl
    Aug 16, 2021
    The worst

    The .. worst... bank .. ever created.. Bad phone customer service, bad website setup. popmoney is a joke. I will be closing this account as soon as possible.

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  • author
    Brandy David
    Aug 15, 2021
    The online feature is garbage!

    The online feature is garbage, On a weekly basis I’m forced to close my business and go “in-person” to a branch to have my password reset. I walk out with new information written down. I literally type what is on the card and it isn’t working by the time I’m standing in my store. I’m closing all my personal and business accounts tomorrow. To think they wanted me to be a private banker! Why, you can’t handle my smallest company!

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  • author
    Hunter
    Aug 10, 2021
    Mobile app is glitchy/slow!

    The app can be very glitchy and slow most times. There website is also slow.

    ...

  • author
    Shirley Amato
    Aug 10, 2021
    I told Citizens Bank that Comcast…

    I told Citizens Bank that Comcast illegally took money out of my bank acct. They did a horrible job and said there was no fraud. So now I have to fight Citizens Bank and Comcast. What the hell kind of investigation did they do? Citizens did a horrible job investigating.

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  • author
    Alan K
    Aug 02, 2021
    Already spent hours trying to send an ACH payment

    I'm trying to do an ACH payment...supposedly something you can due through their PopMoney. Don't believe it! First wouldn't let me verify my email address. After a call to customer service and a 45 minute wait hearing every one of their ads multiple times, a person comes on. She tells me they can't call me back if we get disconnected, which sure enough we did when she couldn't figure it out either for a half hour. After another long wait on hold, figured that problem out and it needed to send me an email to verify...which wouldn't go through. Another wait, and she was finally able to figure that one out. Then, it needs another verification where it automatically calls you and you are supposed to create a 4 digit code but it won't accept the code and after several times, it tells you to call the number again...after another 45 minute wait, the guy can't figure it out at first and sure enough, we get disconnected again...and of course, they can't call me back because of their "rules". The site sucks and the customer service sucks. Get more staff and answer the damn phone! And improve your website!

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  • author
    Margaret Bastien
    Jul 21, 2021
    I’d give them a minus

    I’d give them a minus, but not an option!! Wanted to take advantage of the promotion put $500.00 in a new account and get $300.00 they didn’t keep their promise!!! Never got return calls, they are very unprofessional and customer service is -10!!!

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  • author
    Brian Owens
    Jul 01, 2021
    Gutter company with antiquated ways of…

    Gutter company with antiquated ways of doing things and offshore customer service. Just what you want with your back.

    ...

  • author
    Amy Madonia
    Jun 27, 2021
    Do not use Citizens for banking or…

    Do not use Citizens for banking or mortgage. Have a mortgage with them on auto pay since 2015. Suddenly May 2021 we can't pay our mortgage. All payments are reversed. Payments are coming from our Citizens Checking Account, which they forced us to open with the mortgage. Concerned about staying current, we transferred over $3,500 from the Citizens Checking to the Citizens Mortgage, which was shown as removed from our checking account but was NOT credited to our Mortgage. We spent hours and hours on the phone, only to be shuttled between Banking and Mortgage departments. No one could explain or help us. Finally, they said that we changed the account number on the Checking account, which the online banking portal does not allow a consumer to do. They promised us a call back, which they did not honor. Do not do business with this company. They are crooks.

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  • author
    Ishraq N. Aljassar
    May 14, 2021
    Dishonest for marketing reasons

    They are a big liar they begged to give me a Credit card line to buy Iphone without any impact on my credit score but the result was inverted

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  • author
    fran orenstein
    May 10, 2021
    Do I have to give it one star🤮🤮 it…

    Do I have to give it one star🤮🤮 it doesn’t deserve it! Have gone round and round with them. Don’t ever take their credit card! They play games with your credit rating...apparently I missed a $7.05 payment in July of 2020 and paid it the next month they reduced my credit limit from $4800 to $250! And ofcourse reported it to credit agencies! Best part of this is the ripoff artists don’t send a bill! Supposed to guess when and what is due!

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  • author
    Joseph Guido
    Apr 01, 2021
    Worst business credit card site imaginable.

    This is the worst bank for a small business. The online access for the biz credit card and checking are completely separate, and they just did a massive overhaul to their credit card site. I have to enter my citizens checking account info every time i make a payment to my biz cc. The biz cc site is impossible to link with Quickbooks. Even when I log into the biz cc, I have to "search" for my account and then click on three more buttons just to see my transactions. It is a truly horrible, horrible experience, and I can't wait to go to the branch tomorrow and cancel my credit card account. How possibly did they just spend all that money revamping their biz cc site and this is the product they came up with - it's mind blowing how bad it is.

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  • author
    Pam Marosan
    Feb 25, 2021
    If I could leave a negative star I…

    If I could leave a negative star I would!!! I am DONE with this bank. Back in November my debit card was compromised and I had to order a new one. They said it would take 3-7 days...18 days later I had my card. 18 flipping days! This ruined my families Thanksgiving because I did not have access to a Zelle transaction, there fore had no money. Now fast forward 3 months...a fraudulent charge on my card; the card was cancelled and a new one was EXPRESS mailed to me. I let the representative know I need the card BEFORE my birthday since I was going out of town; that was 6 days before I was to leave. Now 5 days after my birthday I STILL HAVE NO DEBIT CARD. I have been given every excuse under the sun, mail, weather, Covid, Fed EX, none of which help me out. May I suggest you allow your bank locations to print up a dang debit card? Seems like just about every other financial institution is doing it these days. I have 2 direct deposits that I am currently waiting on, as soon as I have that money in my hand I am closing this account. Your incompetence is staggering!.

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  • author
    Connie Davis
    Feb 23, 2021
    Long Time satisfied client

    WOW. All these terrible reviews. I have had accounts at Citizens Bank for over 25 years going back to when it was called Charter One. Once I also had a mortgage which I have since paid off. My local branch has been robbed twice in the last 6 months but they have not caved in and closed it like many other banks would have done. I rarely do in person banking their website and app are great for bill paying and the rare check deposit since almost every transaction is online. When I do go in to my branch all the customer service representatives are friendly and helpful.

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  • author
    Kai Hsieh
    Feb 04, 2021
    Citizens, the bank who DOESNT CARE ABOUT YOU!

    I have been banking with them for 7 years now, and submitted a claim for an incomplete transaction back in December. Ive bene calling every other day since January to work with someone regarding this claim since they quickly sided with the vendor without reviewing my proof of documents to support my case. Its been two week of daily calls (me calling) and NO ONE is calling me back. The customer service department says they can only email the claims department and that’s it, so Im S.O.L. Pretty much. This is a HORRIBLE place to bank with and i would NEVER RECOMMEND THEM! If it weren't a pain to move my business accounts I would have left this subpar bank long time ago. Be wise, RUN! They ARE HORRIBLE TO DO BUSINESS WITH!!

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  • author
    Elizabeth-Anne
    Jan 30, 2021
    Terrible

    Cancelled my account with them due to a paltry $ 500 credit line ( I have $ 4,000 with Citibank ) and them holding on to my check for a week as they said it was an out of state check and they wanted to ensure it would clear. What ??????? Bye-Bye !

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  • author
    Eric Ray Graham
    Jan 26, 2021
    The WORST bank I ever banked with

    The WORST bank I ever banked with, I gave this bank multiple chances, every time they failed. 1st time I had fraudulent activity on my account, they then cancelled my debit card, after the frustration and all they did the investigation and returned my money, WAIT THERE'S MORE! - I paid for checks, and used my account daily. I continued to receive NUMEROUS overdraft fees, I had issues with customer service, I filed complaints, everything you can think of and nothing. I spoke to several supervisors again nothing was done. OH JUST WAIT! I had $34.00 in my account ordered my checks, and after a couple days, money went missing and they told me I used it when I had NO debit card hahaha jokes on them, and it took them 3 weeks to send me a debit card, I NEVER GOT THE 1ST ONE!!!!! So, I called and complained. I got the 2nd card, trouble activating, I got to speak to someone - NO PIN # OMG I was MAD! - They said 7-10 business days for the PIN # to come in the mail. OH, I had to complain because I had 1 cent into the account and would NOT close the account unless it's $0.00n I had ENOUGH and shut down the account. I RATHER DEAL WITH BANK OF AMERICA THEN THEM! After weeks I was DONE with them!!!!!

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  • author
    pat
    Nov 25, 2020
    Very Poor Customer Service

    Applied for a loan, called 3 times after 6 weeks of the initial request to check on status of loan, no one ever responded to my inquiry. Finally reached a representative to find out I was missing one document. The loan officer assignment to my account, never contacted me. I went to another bank and actually was approved for the loan with 48 hours.

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  • author
    Nk. El
    Nov 14, 2020
    Financing Pulled Last Minute Due To Covid Virus

    Worst mortgage experience of our life that we will be reeling from for years. Citizens Bank pulled their financing after issuing a commitment just days before our closing in late March after the Covid virus temporarily shut down our business. We had 130% of the entire purchase price in liquid savings and would have been able to make years worth of on-time monthly payments from our savings in a worst case scenario. Citizens officials treated it as if our business would never reopen again. Citizens treated the situation as if we were abruptly closed permanently. Agents were extremely busy juggling multiple deals and would re-ask for the same documents multiple times over which wasted much time. Communication was good, but you have to stay on top of them to move the process along, which was difficult. Underwriter was extremely tedious to a point that they acted like they were looking for an excuse to kill our deal even with 800+ credit scores and substantial savings. Once they pulled their commitment, we even offered to put a significantly larger downpayment and even pay a higher interest rate to save the deal, but it did us no good. Citizens Bank completely kicked us to the curb last minute when the Covid virus struck us, and now we are in litigation with the seller for a missed closing deadline. We are now paying litigation legal fees that would equal months worth of mortgage payments. Please AVOID using Citizens Bank for your mortgage and home financing needs at all costs. Biggest mistake of our lives was to work with Citizens Bank based on a personal relationship we had with their agent from knowing them for years. Never again.

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  • author
    Kian Wilkinson
    Sep 21, 2020
    Very poor customer service

    Very poor customer service. I had to get a new card to cancel one of my payments, and I ended up waiting for my new card for like 1.5 months. They sent it multiple times but I never got it until I changed the delivery adress to my friend's adress. And after all that they made me pay for fast delivery. And this is when I completely lost it so they had to refund me all the money they've charged me plus they gave me some kind of bonus. I thought the perk of choosing Citizens over Bank of America would be personalized customer care, but I got none of that. Very dissapointed.

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  • author
    Ka
    Sep 20, 2020
    1 hour of my life I can't get back

    Worst web site ever.

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  • author
    Ka
    Sep 11, 2020
    Good grief

    They are closing branches. At remaining branches they are limiting tellers. Longer lines? Duh, social distancing, small lobby. Really? I can't get a bank statement mailed to me. Once I went to a branch at a stop and shop to cash a check and they told me they didn't have enough money. Oh boy a bank with no money. I was speechless. I'll stop here. I think you get the idea.

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  • author
    Ivan David Pachon
    Jul 09, 2020
    Nobody knows where is the money

    I switched banks and closed my bank account at Citizens Bank. I still have the document that says so. Unfortunately my email was still associated with that account in Zelle. A member of my family sent me money via Zelle using my email and now nobody knows where is the money. Zelle reports the transaction as completed (?) And so appears to the sender. Citizens Bank somehow received the money, even though I don’t have an account with them! But don’t know where the money is, and now are tracking the money. They say it can take up to 10 business days to solve the case. What happened to me could have happened to anyone. How is that Zelle and Citizens Bank don’t have easier procedure for a situation like this?

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  • author
    Chris
    Feb 09, 2020
    Rip off

    Terrible. They overdraft you 35 for less then a dollar. They had to pay off 136 million because of immoral overdraft fees. Employees in bank wont help so they make u call and wait hours on phone. worst experience ive ever had with a bank. They sell it to you like u have a day to cover fees but if its 11pm and 1am. 2 hours apart that doesn't count as a day. Look up lawsuits and citizens bank.

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  • author
    John Costello
    Jan 31, 2020
    Needed past statements

    Needed past statements . Referred to research department . Took over a week to process. Charged me $85. PNC and Wells Fargo printed statements On request ,on site for free. Not happy with Citizens Bank.

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  • author
    C.R.Blaze Cochran
    Sep 06, 2019
    THE WORST COMPANY YOU CAN DO BUSINESS…

    THE WORST COMPANY YOU CAN DO BUSINESS WITH AS A NEW CUSTOMER. I HAVE OPENED UP ACCOUNT IN GOOD STANDING SETUP DIRECT DEPOSITS JUST HAVE THEM CLOSE THE ACCOUNT WITH A DEAR JOHN LETTER. IT WAS A HASSLE TO HAVE TO CHANGE EVERYTHING BACK LUCKILY MY FRIENDS TOLD ME ABOUT CHIME THE BEST MOVE I HAVE EVER MADE THERE ARE NO BANK FEES.

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