CIT’s national direct bank is launching eChecking. The new eChecking account features no maintenance fees. At the same time, the account offers multiple digital payment solutions designed to add flexibility and convenience.
Specifically, the account features include debit card controls, Zelle, Bill Pay, Apple Pay and Samsung Pay.
In addition, eChecking offers up to .25% APY and ATM Fee reimbursement of up to $15 a month.
“Today’s consumers want the flexibility to manage finances from anywhere at any time,” says Ravi Kumar, head CIT’s direct bank.
“At CIT Bank, we’re committed to prioritising convenience for our customers as digital payments continue to gain traction.”
According to a 2019 CIT survey, US consumers who have bank accounts utilise mobile banking an average of seven times each month. That is up 40% from a year ago. The same report says that almost two-thirds of US consumers have or would consider opening an eChecking account.
“Our new account provides a number of ways to send, receive and deposit money. We are also empowering customers to earn more on their deposits,” adds Kumar. “We’re pleased to expand our portfolio of checking and savings solutions to provide consumers additional opportunities to achieve their goals regardless of where they are in their financial journey.”
CIT Group: assets c$50bn, a top 50 US bank
CIT’s eChecking launch follows the launch of its Savings Builder product. That is a savings option that rewards regular savers who put by $100 a month or maintain a $25,000 balance.
The account connects to Savings Builder and other CIT savings products, providing useful linkage for those with multiple accounts.
CIT’s direct bank is part of CIT Group, ranked among the largest 50 US Banks by assets. The group also includes 60-branch strong OneWest Bank, centred on Southern California and acquired in 2015.