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CIT eChecking account review

Offers a decent APY, but only for high balances.’s rating: 4.1 / 5.0


The CIT eChecking account account offers no monthly fee, ATM fee reimbursements and interest. Although it’s an interest-bearing account, you’ll need to keep a balance of $25,000 to earn 0.25% APY. If your balance is below this amount, you’ll only earn 0.1% APY.

$0 per month


Up to 0.25%



Minimum deposit to open


APY0.25% on balances of $250,000+
0.10% on balances of $0 to $25,000
Fee$0 per month
Minimum deposit to open$100
ATMsdozens of ATMs throughout Los Angeles and the surrounding area.
ATM transaction fee$0
Out-of-network ATM fee$0 Get up to $30 in ATM fees reimbursed each month.

Review by

Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.

Expert review

CIT eChecking account offers ATM fee rebates and no monthly fees, but you’ll need at least $100 to open the account.

It also bears interest, but you’ll only earn the highest rate at 0.25% APY when you maintain a balance of $25,000 or more. Otherwise, your rate drops to0.1%. While it’s still higher than the national average, there are checking accounts offering higher yields.

This account also has wire transfer restrictions that correspond to the amount of money you keep in your account. For example, if your checking account balance is below $25,000, you’ll pay $10 when you conduct a wire transfer.

How do I open a CIT eChecking account?

Opening a CIT eChecking account only takes a few minutes.

  1. Go to the provider’s site and follow the steps to apply.
  2. From the provider page and select eChecking from the dropdown Bank menu.
  3. Select Get started, then Open account now.
  4. Ensure that Personal and eChecking are selected by default, then select Continue.
  5. Choose whether you’d like an Individual or Joint account, then enter your personal details.
  6. Read and agree to the terms, then link an existing checking or savings account to fund your CIT account.
  7. Create a username and password, then finalize your account.


You must meet the following requirements to open a CIT eChecking account.

  • At least 18 years old
  • US citizen or permanent resident

Required information

Have the following information handy when opening an account.

  • Home address
  • Email address
  • Phone number
  • Social Security number
  • Mother’s maiden name

What are the benefits of CIT’s checking account?

CIT eChecking accounts offer a few attractive features.

  • No ATM fees. Get up to $30 in ATM fees reimbursed each month.
  • No monthly fee. There’s no ongoing monthly maintenance service charge to keep this account active.

What should I look out for?

There are several drawbacks to opening a CIT eChecking account.

  • APYs aren’t competitive. Although it earns interest, you need to keep $250,000 or more in the account to earn the highest rate of 0.25% APY. Any balance below this only earns 0.1% APY.
  • No paper checks. CIT doesn’t provide checks, but you can use ones purchased from a third party.
  • Minimum initial deposit. You’ll need to deposit at least $100 to open an account.
  • Wire transfer restrictions. You can only send domestic wire transfers of $1,000 or more, and you’ll pay a $10 fee for wires if your account balance is below $25,000.
  • No branches. CIT eChecking is an online-only account, so you can’t visit a branch and speak with a teller or bank manager face-to-face.
  • Point of sale limitations. You can’t use your debit card for purchases greater than $1,500. This is low compared to debit cards from Chase and Discover Bank, which have limits as high as $3,000 and $5,000.

CIT’s ATM network and fees

CIT Bank doesn’t have its own ATM network and it doesn’t partner with any nationwide or worldwide ATM networks. But you can use your eChecking debit card at any ATM and get up to $30 in fees reimbursed each month. Also, CIT Bank offers free withdrawals from ATMs owned by its Southern California subsidiary, OneWest Bank, which has dozens of ATMs throughout Los Angeles and the surrounding area.

Compare CIT eChecking account with other checking accounts

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
55,000 free in-network ATMs
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
Finder Rating: 4 / 5: ★★★★★
more than 38,000 ATMs in the MoneyPass ATM network
The Douugh app is an AI assistant focused on your finances.
Chase First Banking℠
Finder Rating: 4.3 / 5: ★★★★★
Chase First Banking℠
16,000 ATMs nationwide
A debit card for teens and kids with a set of digital tools to help them learn good money habits in the Chase Mobile app. Requires parent to have or open a Chase checking account.
Chase Secure Banking℠
Finder Rating: 4.2 / 5: ★★★★★
Chase Secure Banking℠
Access to 16,000 ATMs and more than 4,700 branches nationwide
Chase Secure Banking offers no overdraft services
Chime Spending account
Finder Rating: 4.7 / 5: ★★★★★
Chime Spending account
60,000+ fee-free ATMs
Get rid of fees with this financial app offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.

Compare up to 4 providers

How do I deposit or withdraw my money?

There are a few ways to move funds into and out of your CIT eChecking account.


  • Mobile deposit. CIT’s mobile app lets you use your smartphone’s camera to deposit paper checks.
  • Automated clearing house (ACH) transfers. Deposit funds from another bank using ACH transfers.
  • Postal mail. Mail endorsed checks to CIT Bank, N.A. Attn: Deposit Services P.O. Box 7056 Pasadena, CA 91109-9699.
  • Incoming wire transfers. CIT eChecking supports incoming wire transfers without charging a fee.


  • ATMs. Withdraw cash from your CIT eChecking account by using your debit card.
  • ACH transfers. Send funds from your account to another bank using ACH transfers.
  • Wire transfers. CIT eChecking account supports outgoing domestic wire transfers of $1,000 or more.
  • Zelle. Use Zelle to send money to other people.

What is CIT Bank’s routing number?

CIT’s routing number is 124084834.

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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