How to Buy Crypto with Citizens Bank
Summary: While Citizens Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party crypto trading platform.
There are plenty of crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
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As mentioned above, just like most banks, Citizens Bank doesn’t offer cryptocurrency trading directly, as setting up a cryptocurrency trading platform is quite complex and comes with regulations and extra requirements for the banks.
There are many cryptocurrency trading platforms that you can use for buying bitcoin and other cryptocurrencies.
Once signed up to an exchange (we’ll be using eToro for our example as it’s a widely trusted and global exchange), you can simply transfer funds from your bank account to the exchange, and trade it for crypto.
Table of Contents
How to buy crypto or bitcoin with Citizens Bank
There are only 4 steps involved, let’s get started!
1. Choose a cryptocurrency exchange
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign-up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy crypto
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with Citizens Bank.
About Citizens Bank
Citizens is an option for those who live in 11 states that have branches. Citizens Access, Citizens Bank’s online division, is available to anyone who lives outside the Citizens Bank footprint. Citizens Access was launched in July 2018 and offers accounts for those who are not within its reach.
Citizens Bank may be the right bank for you if you are looking for a bank with branches in 11 of the Eastern U.S. states.
Citizens Bank's One Deposit Savings Account can be opened without the need for a deposit. However, a $200 minimum balance will be required to avoid the $4.99 monthly maintenance fees. The account is free for customers aged under 25 and 65.
One Deposit Savings accounts have an APY lower than the national average. People looking for higher rates might consider an online bank like Citizens Access, Citizens Bank's online-only division.
Citizens Bank offers the CollegeSaver savings account, which provides a $1,000 bonus to children who turn 18 years old. An account must be opened by the child before their 12th birthday. A minimum amount of $25 is required if the child turns 6 years old, and $50 for children 6 and older who are under 12 years at the account opening.
One Deposit Checking is open to all amounts of money. The $9.99 monthly service charge can be avoided by only making one deposit each statement cycle into the account.
You will receive a debit card that can be linked with your smartphone's digital wallet. Zelle is also available for peer to peer transactions. The app is highly rated in both the Apple App Store and Google Play Store.
Citizens Bank charges $35 per item for overdrawn accounts. This is slightly more than the national average of $33.58, according Bankrate's 2021 ATM fee and checking account study.
Citizens Bank offers CD terms that range from one month up to 10 years. Although the minimum deposit required to open an account is $1,000, the accounts offer lower yields and competitive rates. For CDs with terms less than one year, early withdrawal penalties can range from 90 days interest to 180 days for longer CDs. Early withdrawals are subject to a $50 transaction charge.
CD accounts that have earned interest can be withdrawn before maturity. However, this is only possible for accounts that have a minimum of $5,000 deposit. Platinum Checking customers and Platinum Plus customers receive higher CD yields.
Citizens Bank offers a Breakable CD with terms that range from three months to five year. This allows for one-time withdrawals of principal without any early withdrawal penalties.
The Personal Money Market account has a low yield. The account does not have a minimum deposit requirement. However, accounts with lower balances than $2,500 will be subject to a $10 monthly service charge. Personal Money Market accounts offer customers check-writing privileges. You can also get a separate ATM card or it can be linked with a checking account debitcard.
Citizens Bank customers have access 1,150 000 branches and 2,900, 3,000 ATMs across 11 states.
You can send money with Zelle or deposit checks using the bank's highly-rated mobile app. Citizens Bank provides 24/7 phone banking via its "contact centers", where customers can check balances, verify deposits and withdrawals, and verify any recent payments. Customers can also use the calculators provided by Citizens Bank to manage their budgets.
Citizens Bank, a full-service bank based in Providence, Rhode Island offers a variety of commercial, retail and small business banking products.
It agreed to buy Investors Bancorp in July 2021. Investors Bancorp operates 154 branches of Investors Banks in New York, New Jersey, and Pennsylvania. It is expected that the deal will close by the end of the first half 2022.
These locations add to the 80 branches Citizens Bank acquired from HSBC in May on the East Coast and South Florida. The HSBC acquisition will close in February 2022. Citizens accounts will replace the HSBC accounts.
Citizens Bank customers have access at least 3,000 ATMs.