CIT stands for Commercial Investment Trust. It was founded in 1908 by Henry Ittleson and financed wholesale purchases for merchants. As the company grew, it added auto, manufacturing, and consumer product . By the 1950’s, CIT had focused its profits in the areas of transportation , , and investments. Today, its headquarters is in New York, New York. It focuses on high-interest options in the industry. Its services and interest draw thousands of customers.
CIT differs from many banks by offering home . Many banks do not any kind of . It offers fixed rate for 10-30 year loan and flexible down payment options.
users have complained about the company’s website. There is no search bar option, so finding the information you’re looking for on the site can be tricky. Customers have also complained about the time it takes to actually get the set up or into the . Other customers complained of computer glitches when attempting to log in to their . However, ’s mobile receives highly positive reviews.
Read reviews below. Customers complain about unhelpful service, the poor website, and miscommunication about their accounts. The reviews are very accurate and trustworthy so you can make educated decisions about your , , , bank , , and other features the bank offers like an atm card, cd options, routing number, and . Reviews also give accurate portrayals of information on , , and branches. Last, you can find interest .
I've have money account with CIT bank. And been request to close the account and draft my money out. I have set up the External Account transfer to transfer the money back to my account. But it's took them a month. email back and forth but it's has not been process. And now my month is stuck with them. I am not sure what is going on. When i have run couples test and see the testing transaction in/out from my bank account. But not a full amount of the request of closing account. and they're reply to my message that my External Transfer has not been setup. please think twice if you really want to invest your cash with CIT BANK.
Company is super slow. Terrible mortgage process ask for a ton of paperwork and can’t determine approval early need months and months and can’t process information quickly. Avoid them it’s a waste of time
I use Quicken to monitor my financial matters. Especally for checking for fraudlent transactions. I had 12 of them just last week. One sign in with Quicken and I could view everything in one step, make the call and stop the transaction. Control does not come from how hard it is, but how easy it is for the customer to monitor for fraud. CIT interferes with the Quicken one step process. They are aware of this and refuse to change. The banks and the financial software vendors must work as a team for security, and not in opposition as CIT does. Simply arrogant.
They pay the highest interest rates that I've found online.
Run away from this bank when you see this review. It will save your time and money. Don't deal with IT. The core value of this cit.com bank is taking full advantage of you from the contract. They work with other small business and get other small business's money. Trust but verify.
I was apprehensive about transferring a large amount of money to an online only bank I had never heard of. And I did have the panic moment the first week when I realized I did not know my account number, and my password did not work. But when I called, Customer service was great and got all my issues resolved quickly. The high rate of return has been wonderful. I agree with others this is a bank for saving, and I too have another for my daily activities.
I like this bank in terms of their high yields and long term benefits. If you are poor and cannot afford to dump large sum of money into savings this bank is NOT for you. This bank (along with others like it) is structured for people with money who want to invest for large gain. The more money you invest in them the more return you will get back. I like this bank with exception to their mobile app. The app is so simple with no sophistication what so ever. Platform is so plain even my 2 year old daughter can maneuver around it. All I'm saying is, CIT is a highly reputable institution, I just want their mobile app to step up to the plate and offer some form of sophistication (fingerprint login, quality interface with modernness). Ally bank's mobile app make CIT's look like something that was created in the 90's, a complete joke!
I wish I could give this "Bank" zero stars. The process is horrific, and the hold times are beyond abnormal. It has been 7 days and they still have not released my funds nor do they have any record of the promotional bonus they promised to pay. I will bank local after this and gladly take a slightly lower return.
The application process is a little cumbersome and the website has very few bells and whistles, but what I was looking for was a bank with a good savings account rate, and they delivered. I know that I will not have access to the money for 7 days after I deposit the money in my CIT bank account. They say so in their paperwork if you bother to read it. When I go to the website, I can see the balance in my account and the amount of interest I make each month. I don't need too much more than that. I also can ACH transfer the funds to another bank if I need to move funds out. This bank is fine. The complaints from others are unwarranted. Those who want great customer service should open up an account at their local savings bank who will give you lots of customer support and no savings account interest in return.
It has been over a week and I cannot get access to my money after I opened a new account
My CD matured on 7/8. I called to have the money transferred to my checking account and was told I had to send an email requesting closure which I did. 2 days later I called as the money was not transferred. I was told that I had to submit a "closure form" and provide a routing and account number which they already had! 7/12 and I am still waiting for the transfer of funds. This delay caused me to miss out on another attractive CD rate. CIT is great until you want to access your OWN money!!!
Highest rate on my savings, compounded that I can find anywhere. Perfect bank for me because I don’t need to chat, just increase my savings. I have another brick and mortar bank for other financial transactions. Yes, it took a minute to open the account, not a lot of sales people free, but I assumed they were busy opening accounts for others interested in high yield savings. This works great for me!
Do not use this bank, the website and online services are beyond horrendous and any skilled user will find themselves immediately agitated and horrified. I'm pulling all of my money out ASAP and I suggest anyone else do the same and/or NEVER open an account here. I would rather take the .01 percent lower APR with a Bank that this competent then have my money with CIT. RUN RUN RUN RUN RUN RUN..I can't stress that enough.
Getting through on customer service phone line a remarkable time suck. I just hung up after a 15 minute wait. This has happened 75% of the few times I have called. Push 1 to have CIT Bank call back instead of waiting? The technology not there: pushing 1 does nothing. The interest rates are good, though, so I think this must be in their model: don’t invest in the customer service side of things. I’d move on to another online bank, but rates are good and it’s a hassle to start over elsewhere. They know this.
Is there a zero star rating? They respond to on line customer service request via your account with an automated message to call customer service- every time no matter what the request. Worse customer service on lie - they could care less. Not sue how this bank keeps any customers.
L. A. Dougharty
I had CDs with this bank. When they rolled over, CIT Bank never gave the best rate. For example, I had a Bump CD paying 1.25%. (it never bumped during the 1 year term even though interests rates were rising). CIT Bank renewed it at 1.25%! When I said this wasn't sufficient, the Bank upped the rate to 2.50%. I declined saying I did not want to do business with the Bank. I asked my funds be sent by external transfer. The Bank said I had to go through several steps to get my money so it can hold my funds and pay no interest. Stay away from CIT Bank.
Myron O. Everson
I opened 5 CD's with over 250K 3 years ago. I have had nothing but trouble with them. Trouble opening and especially getting my money back. Contacted them In June to tell them how I wanted the money forwarded to me at maturity in Sep. Was told I would have to call back again within 30 days to confirm that I still wanted the CD Cashed. Called 10 days prior to maturity and after much difficulty in attempting as to how to obtain my 52+K I finally told them to mail the check. Now 3 days after maturity I called to ensure that the check was mailed. I was told the CD closed and THAT I WOULD HAVE TO WAIT ANYWHERE FROM 7 TO 10 BUSINESS DAYS FOR THE CHECK TO PROCESS. DON'T DEAL WITH THIS BANK THEY ARE NOTHING BUT TROUBLE.
Worst experience EVER with an on-line bank. Their website inconveniences the customers. Lots of of computer glitches when attempting to set up an account. While attempting to set up an account for a 1 year CD for $25000, there was many glitches along the way making it look like the account was never set up and that the linked account where funds were going to come from were never set up. Some of the pages would not reload causing end user to "try again" only leading to more confusion. Upon calling there customer service they stated that 2 CD accounts were in fact started and that money would be withdrawn from my destination account to fund both accounts to the tune of $50,000 dollars. I made it know to the agent I was attempting to set up only 1 CD account. As we were speaking I was trying to explain to her that I was on web site at that very moment and even then the site was telling me there was no funding account set up for any account. When she told me there was nothing she could do I immediately called my bank to block CIT from withdrawing ANY funds from my account and rest assured I will never be doing business with them again
I spent 3 hours trying to operant account with Cit Bank today. Almost all of this time was on hold trying to get answers to mistakes THEY made online. Just gave up and told them to cancel the account , if one really existed.
Horrible experience with their service. Terrible, disorganized website. Tried to open an online savings account for $100,000, instead they opened two (2) savings accounts for $100,000 each -- without my knowledge, of course. More than that, they attempted to ACH $200,000 from my funding external bank account, instead of $100,000. The customer service is totally incompetent, they are not able to comprehend basic things. The customer service manager is unprofessional. All in all, there were not able correct the situation (I simply asked them to delete the second account I never requested to open in the first place, but they could not do that) and they seemingly got prepared to rip off my external bank account by withdrawing $200,000. I had to urgently drive to my non-CiT bank involved in this to put stop payment on any attempt by CiT bank to withdraw funds. This bank is a joke, a sad joke.
Recieved a letter from CIT, said they lost my e-mail address, and I should call them . I spent 56 minutes with a representative, who gtold me she could not figure out how to get me online to view my balance, and could not tell me if I had a balance!. She told me to call back 2 hours later, which I did and spent another 18 minutes on hold before finnaly reaching someone who said they will send me a statement! I'll be surprised if I get it! BANK LOCAL