How To Avoid CIT Bank’s Monthly Maintenance Fees
Written by
Cynthia Bowman
Edited by
Emily Gadd, CCC™
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You can avoid CIT Bank’s monthly maintenance fees by choosing the right account and meeting its balance or activity requirements. Some CIT accounts don’t charge a monthly fee at all, while others waive the fee if you maintain a minimum balance or meet specific conditions.
Understanding your account’s requirements is key. Here’s how CIT Bank’s fee structure works — and the simple steps you can take to keep more of your money.
What Are the CIT Bank Checking Account Fees?
There is no CIT Bank monthly maintenance fee for the bank’s eChecking account. Here’s a look at all the other CIT Bank checking account fees:
| Fee | Amount Charged |
|---|---|
| Out-Of-Network ATM fees | Refunded up to $30 per month |
| International debit card purchases and withdrawals | 1% of amount |
| Overdraft | Free |
| Returned deposit per item | $0 |
| Bill stop payment | $30 per check |
| Foreign exchange rate | Varies |
| Outgoing wire transfers | $10 |
| Incoming wires | $0 |
| Online transfers | $0 |
What Are the CIT Bank Savings Account Fees?
Like the CIT eChecking account, there is no CIT Bank monthly maintenance fee for the bank’s savings and money market accounts. Here’s a look at all the other CIT Bank savings account fees:
| Fee | Amount Charged |
|---|---|
| Returned deposit per item | $0 |
| Bill stop payment | $30 per check |
How To Avoid CIT Bank Monthly Maintenance Fees
CIT Bank doesn’t charge as many fees as other banks, so you have fewer fees to worry about. Regardless, every penny you can save counts. Here are three ways you can avoid CIT bank fees:
Limit Your ATM Withdrawals
CIT doesn’t have its own ATM network, so you’ll want to watch how often you withdraw cash. The bank reimburses up to $30 per month in ATM fees, but that may only cover a few transactions.
To avoid unnecessary fees, consider limiting withdrawals to once a week and taking out enough to cover your needs. You may also find it easier to track your spending by using your debit card instead of cash, since digital transactions create a clear record of where your money goes.
Be Careful of Who You Send and Receive Money From
Some of the highest CIT Bank fees could be due to changing your mind about a payment you’ve made or arranged to receive. CIT Bank charges $10 per returned deposit if someone sends you money and stops it or refuses to honor it later. Changing your mind about a payment you issued and requesting a bill stop payment will cost you $30.
Avoiding CIT Bank Fees Is Simple
CIT Bank is one of the lowest-cost banks around. As long as you don’t mind doing your banking online or through the mobile app, you’ll pay fewer fees and earn a higher interest rate on your savings.
Keeping CIT Bank fees low isn’t hard because the bank doesn’t charge many in the first place. You might miss out on physical bank branches and having access to a wide network of free ATMs, but the savings could be worth the small adjustments you need to make.
More CIT Bank
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- CIT Bank CD Rates
- CIT Bank Routing Number
- CIT Bank Holiday Hours
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