Black-owned bank in AL and GA
- Citizens Trust Bank (Member FDIC) is a Black-owned bank in Georgia and Alabama.
- You can also bank online nationwide, but it’s more competitive with other in-person banks.
- The bank has several types of checking accounts, so you may find one that suits your needs.
- See Insider’s picks for the best checking accounts »
- 5 branches in GA, 2 branches in AL; or bank online nationwide
- 14 free ATM locations; you can also make withdrawals from STAR, MasterCard, and Cirrus ATMs
- Waive the $10 monthly service fee by a) enrolling in direct deposit, and b) enrolling in e-statements
- FDIC insured
Pros
- No minimum balance requirement
- Easy to waive monthly service fee
- Enroll in overdraft protection by linking to a CTB savings account
- No out-of-network ATM fees
Cons
- $50 minimum opening deposit
- $10 monthly service fee
- $35 overdraft fee
- $5 overdraft protection fee
- Doesn’t reimburse any fees charged by out-of-network ATM providers
You may like the CTB Direct Checking Account if you’re just looking for a basic checking account. It’s easy to waive the monthly service fee, and Citizens Trust Bank doesn’t require you to keep a minimum balance. The bank has several other checking accounts to choose from, too. Some may be better for you if you tend to maintain a high balance, make frequent debit card purchases, or write checks.
- 5 branches in GA, 2 branches in AL; or bank online nationwide
- Waive $5 monthly service fee by maintaining an average daily balance of $100
- Interest compounded daily, paid monthly
- FDIC insured
Pros
- Easy to waive monthly service fee
- Low minimum balance of $100
Cons
- Low APY
- $100 minimum opening deposit
- $5 monthly service fee
- Only 3 free withdrawals per quarter
- $3 fee for each additional withdrawal
Citizens Trust Bank Personal Savings could be a good savings account if you’re banking in person. But if you’re banking online, you can find savings accounts that pay significantly higher rates and don’t charge monthly service fees.
Per federal regulations, most savings accounts limit to you to six transactions per month before penalizing you. But Citizens Trust Bank Personal Savings only lets you make three withdrawals per quarter — much less often than other accounts — before charging you $3 per excess transaction. If you expect to move money out of savings more than three times every three months, you may want to go with another bank.
- 5 branches in GA, 2 branches in…
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