CITBank

Had a CIT Bank account with funds on deposit for over a year. Then I tried to wire 30% of the balance to escrow to close on a real estate purchase. Wire was blocked because I had changed phone carriers (same phone number). Rep told me this was policy and wires were now blocked for SIX MONTHS despite the fact that they confirmed my identity, sent me a check and allowed ACH transfers. Since escrow will only accept a wire by law in my state, I cannot close until the funds clear my local bank. Closing the account as soon as this is finalized.

CIT offers higher interest than my other online accounts but their customer service and website are so bad that I'm afraid to transfer in more than the few thousand I opened the account with. I'm just waiting 6 months to close the account without a fee.

This bank is horrible and their customer service reps are rude. They advertised a 2.30% interest rate for a savings account but give you a lower rate (2.22%) once you sign up. The website is no very user friendly and they do not send you emails about recent transactions. The worse part about this bank is when you do a transfer from an external bank account it will take almost two weeks for your money to be available. It take 2-3 business days for the money to show up in your account and then another 8 business days for it to be available. If the money is not available it will not be counted in your interest. Who want their money to be tied up for that long. I have never experienced a transfer taking that long to clear. This bank sucks and I will definitely be closing my account soon.

I'm a retired senior with limited tech skills. CIT personnel accomodated my shortcomings when it came to opening an account. I got more interest on less money in 2 months at CIT, than I got in 6 years on more money at PNC. I realize that the higher interest comes at the cost of having less personnel but keeping one's savings at another bank is only 1 step better than burying it in the backyard.