Citizens National Bank is a small Ohio bank with 129 employees and $482 million in assets based on FDIC data as of 3/31/08. It was established in 1920, and it has been FDIC insured since 1934 (FDIC Certificate # 6531).
Interest is compounded and credited monthly
ThursdaysChild
Missed.
posted: Oct. 6, 2008 @ 11:00p
Citizens National Bank does seem to be financially healthy based on financial ratings: 4 stars (sound) at Bankrate.com and 4 stars (excellent) at BauerFinancial. Both are based on 6/30/08 data.
There's a lot more information over at BankDeals, including information about hard pulls and account opening.
Update on the 4.00% Online Savings Account at CNBBankDirect
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Having problems opening and funding the online savings account at CNBBankDirect? You're not alone. I and several readers have experienced a slow account opening process. In my case progress stopped after they informed me by email that the trial deposits were about to be initiated. The trial deposits never came. I just called, and they have initiated another pair of trial deposits. Another reader was able to verify the trial deposits, but is unable to see the account on their system. As he mentioned, the banking reps are nice and friendly, but they seemed unprepared for this online savings account and the large demand. As I mentioned when I first reported on this offer, Citizens National Bank is small with only 133 employees, and this online savings account is new.
The offer of 4% APY guaranteed for 6 months is nice, especially now when there are reports that interests may be cut due the economic weakness and turmoil. If you do try to sign up, don't expect a quick process. You may want to keep your initial deposit small. After it's opened and you have access, you can then transfer more. This may mean less time for 4%, but at least you don't have to worry about the money as the new account process drags on.
For more info on this savings account please refer to my previous posts on CNBBankDirect: 4.00% offer post, account review.
thok said: Might be a good place to move our money when Chase drops WaMu's rates.
Read the other WAMU threads and the stickies at the top of this forum... WAMU alreadt dropped its rates! Now its 3% for online savings.
8086x6
Ancient Member
posted: Oct. 7, 2008 @ 8:27p
tempting, I don't want to burn a hard inquiry just for .25% over costco savings, nor do I want to give money to a bank that hits me with a hard inquiry to open a simple savings account.
thok
Tired Member
posted: Oct. 7, 2008 @ 9:17p
sloppy1 said: thok said: Might be a good place to move our money when Chase drops WaMu's rates.
Read the other WAMU threads and the stickies at the top of this forum... WAMU alreadt dropped its rates! Now its 3% for online savings.
Yeah, just got to that one. My money is moving out today...
craig10x
Senior Member - 5K
posted: Oct. 7, 2008 @ 9:23p
not only that but even after the first 30 days...they put a 5 day hold on money you transfer in (10 day holds on initial deposits)...plus (as someone pointed out) they only allow 1 account to be linked to them...also the bank itself is small (6 branches and believe it or not, there is only 3 people working on the Online Savings Account side of this particular account with only 1 technical person who is actually opening the accounts...plus i got a hard pull when i opened, and they are very slow with applications..the one girl working on it is swamped...i gave up in frustration and asked them to close it and went with a slightly lower yield at another bank's online saving account, but that allows multi-links and gets you set up quick and works much better, overall...
So Rate Chasers..keep this mind....you'll get your RATE but it isn't going to be a smooth or joyful experience..... This is very much a "mom and pop" kind of operation at the present time at CNB Online Direct.....
The slow service and mom and pop aspect of this bank doesn't appeal to me. On top of that the hard pull is a no go. I need to switch from ING, but don't have $1K minimum.
Xeon852
Senior Member - 1K
posted: Oct. 9, 2008 @ 12:59p
NYCSportsResearcher said: The slow service and mom and pop aspect of this bank doesn't appeal to me. On top of that the hard pull is a no go. I need to switch from ING, but don't have $1K minimum. No offense (I used to do it), but rate chasing without $1k isn't really worth it. If ING is working for you, it really doesn't make a difference. At $1k - you are talking about $12.50 per year between ING Direct (2.75%) and this (4%).
I agree with your initial assertion though - although 6 months guaranteed is very tempting its not worth the hard pull and the slow service.
anyone else noticed CNBBankDirect no longer has "4% APY guaranteed for 6 months" in their intro flash? I swear it was there yesterday - small black fine print just under yellow "four easy steps" button.
offer is over?
craig10x
Senior Member - 5K
posted: Oct. 9, 2008 @ 4:55p
flyingtwopigs said: anyone else noticed CNBBankDirect no longer has "4% APY guaranteed for 6 months" in their intro flash? I swear it was there yesterday - small black fine print just under yellow "four easy steps" button.
offer is over?
Nope..because if you skip the intro flash...you will see the fine print about it toward the bottom of the page....it is not over....
I'm not seeing any small print saying it's guaranteed for 6 months. All I see is that the rate is variable and subject to change after account opening.
craig10x said: flyingtwopigs said: anyone else noticed CNBBankDirect no longer has "4% APY guaranteed for 6 months" in their intro flash? I swear it was there yesterday - small black fine print just under yellow "four easy steps" button.
offer is over?
Nope..because if you skip the intro flash...you will see the fine print about it toward the bottom of the page....it is not over....
craig10x
Senior Member - 5K
posted: Oct. 9, 2008 @ 6:35p
now i did (clear my cache)..i do see what you mean.....call them in the morning and ask..and let us know here.......it may or may not mean something..best to confirm with them.... Actually...i will call myself and ask....i tried applying again out of curiousity and it accepted me again...lol However, if the rate won't be guaranteed for the 6 months for new accounts from this point, then i won't bother completing the process and just let them know that.....I'll post back when i get a confirmation from them one way or the other......but the fact that they removed it from the site is not a good sign...... the offer may have been withdrawn....
craig10x
Senior Member - 5K
posted: Oct. 10, 2008 @ 9:44a
CNB Bank Direct Guarantee is finished...i called and confirmed this morning...though the rate is still 4% if you are a new applicant you will not get the 6 month guarantee that your rate will not go below 4%.....
mttatkns
Thrifty Member
posted: Oct. 10, 2008 @ 10:50a
Any idea how the change affects those who submitted an application while the rate was guaranteed but are completing the process now that the guarantee has ended? I applied two days ago with the guarantee and electronically signed the documents yesterday just before 6:00 PM EST. I didn't pay too close attention to the documents because I had already read the disclosures before applying (since it was a hard inquiry), so I'm not sure if the guarantee was still mentioned or not. If no one else can testify on this, I will post my experience after the account is opened and/or the variable rate is lowered from 4%.
I applied online on 10/8/08, got the 1st email on 10/9 ("This email confirms that CNBBank Direct has received your online account application and your request is currently being processed."), got the 2nd email later on 10/9 ("Welcome to the CNBBankDirect Online Signing Process! Your login information is:..."). I logged in and their system recognized me, but immediately I got a message saying "Currently, your application file has been Closed and there is no information or documents available for you to review. If you have any questions please contact CNBBankDirect at 1-877-777-9358."
I called and actually got a CSR quickly. I was thinking that they had withdrawn the offer (4%, 6 month lock) and was ready to raise hell because when I had applied on 10/8 the offer was prominently displayed on their website. I had screenprint files, etc., and was ready for battle…
The CSR told me that as long as I had applied by 10/9, the offer was definitely good. The offer was apparently withdrawn sometime on 10/9. She also told me definitively that by "applied", they mean the first application which I had done online on 10/8, not the later digital signing of online forms stuff that I was attempting to do today.
She said that the reason I got this message was probably just a corrupted file - she said a few other customers had reported this same problem - and that they would fix it and resend the link.
So, all may not be lost if you applied on or before 10/8 or possibly on or before 10/9.
Since they've now withdrawn the offer the only remaining 4% 6-month lock may be National City. Anyone in their states who want this may want to take action quickly.
"The following interest rate and Annual Percentage Yield (APY)are accurate as of 10/07/2008. If you would like more current rate and yield information, please call us at 1-877-777-9358 or visit our website at www.cnbbankdirect.com.
Current Rate: 3.93% Current APY: 4.00%
Guaranteed Rate: The current rate and Annual Percentage Yield listed above will be guaranteed for 6 months from the date of account opening. Your account is considered open as soon as we receive confirmation that you have electronically signed the account paperwork."
I electronically signed the paperwork on 10/7.
craig10x
Senior Member - 5K
posted: Oct. 10, 2008 @ 12:24p
just called CNB and she confirmed that as long as you submitted the actual online application by 6 PM on October 9th you will get the guarantee...even if you didn't do the signature process yet...i wasn't able to because it's not compatable with my Mac...i am doing it today on a friend's windows computer...she said it would be fine...as long as the actual APPLICATION was submitted by 6 PM EST on OCT 9th....
mttatkns
Thrifty Member
posted: Oct. 10, 2008 @ 12:39p
Great to hear craig10x, you should be able to do the signature process on a Mac using Safari - it worked for me (but did not work in Firefox or Camino).
craig10x
Senior Member - 5K
posted: Oct. 10, 2008 @ 12:46p
mttatkns said: Great to hear craig10x, you should be able to do the signature process on a Mac using Safari - it worked for me (but did not work in Firefox or Camino).
Thanks Actually i am using Safari with my Mac and have the same problem....the CSR said they are working to fix that problem.....so meanwhile (rather then experimenting with my Mac (lol)...i will just do the signature sign up on my friend's windows computer.....
craig10x
Senior Member - 5K
posted: Oct. 10, 2008 @ 11:47p
Keep in mind that their RATE is still 4% APY...just the Guarantee for 6 months is what is no longer available for new applicants....effective 6 PM on Oct 9th......
UnixLab
Senior Member
posted: Oct. 14, 2008 @ 1:48p
opened on 9th. have not get trial deposit yet.
ccrzhh
Senior Member - 1K
posted: Oct. 14, 2008 @ 3:09p
Be careful if you linked this account to your existing savings account. They post two trial deposits and then two withdrawals, which may be subject to fines/closure if they are over 6 per month
mttatkns
Thrifty Member
posted: Oct. 14, 2008 @ 4:18p
UnixLab said: opened on 9th. have not get trial deposit yet.Signed up on the 8th, signed paperwork on the 9th, got an e-mail confirming that test deposits had "been made" on the 10th; they still have not come.
craig10x
Senior Member - 5K
posted: Oct. 14, 2008 @ 5:37p
mttatkns said: UnixLab said: opened on 9th. have not get trial deposit yet.Signed up on the 8th, signed paperwork on the 9th, got an e-mail confirming that test deposits had "been made" on the 10th; they still have not come.
You ran into a long weekend, and they were one of the banks that was closed on Monday...figure they should arrive in your external account probably wednesday or thursday now.....
I got my e-mail today about the links being sent (after doing the electronic signing on Friday).....
mttatkns
Thrifty Member
posted: Oct. 15, 2008 @ 5:03a
craig10x said: mttatkns said: UnixLab said: opened on 9th. have not get trial deposit yet.Signed up on the 8th, signed paperwork on the 9th, got an e-mail confirming that test deposits had "been made" on the 10th; they still have not come.
You ran into a long weekend, and they were one of the banks that was closed on Monday...figure they should arrive in your external account probably wednesday or thursday now.....
I got my e-mail today about the links being sent (after doing the electronic signing on Friday).....That's what I figured, though I would have expected the deposits to be in Friday's batch to appear on Monday/Tuesday AM. In any case, the deposits/withdrawals now show; I would expect yours will be processed Thursday AM.
UnixLab
Senior Member
posted: Oct. 15, 2008 @ 8:44a
mine shows today. I was wondering since I already received the email notice. Now after verification, need to wait for another email.
craig10x
Senior Member - 5K
posted: Oct. 15, 2008 @ 9:07a
UnixLab said: mine shows today. I was wondering since I already received the email notice. Now after verification, need to wait for another email.
me too Like you, i then verified on the link, and waiting for the final e-mail which will contain the password we need to get into the Online Banking with them...i believe it will be a temporary password, which you should be able to change. Apparently, one logs into it with your account number and the password they will send you now.....
mttatkns
Thrifty Member
posted: Oct. 16, 2008 @ 10:56a
Just got the final e-mail. It contains a temporary password (which you should immediately reset, since it appears to be the same for everybody) which you can use with the account number provided in the test deposit e-mail to login. So the entire account creation process took just over a week.
craig10x
Senior Member - 5K
posted: Oct. 16, 2008 @ 11:22a
mttatkns said: Just got the final e-mail. It contains a temporary password (which you should immediately reset, since it appears to be the same for everybody) which you can use with the account number provided in the test deposit e-mail to login. So the entire account creation process took just over a week.
I also got the final e-mail this morning...and logged in and changed the temporary password to my own selected one.... And like you mentioned...entire process took just over a week from start to finish....
Question: I have no problem logging in...i can access the help menu and the change profile menu and the contact us link at the bottom.... However, i am finding i cannot click on the function buttons at the top, to see account information..summary...transfers application....
Are you able to do that? Can you get to those sections and see your account information? I can't.....i am wondering if perhaps their online banking is not compatable with MAC Computers and Safari Web Browser........ Can you access those things? And what type of computer do you use? (operating system and browser)?
UnixLab
Senior Member
posted: Oct. 16, 2008 @ 11:37a
Exactly the same interface as Amboy Direct
UnixLab
Senior Member
posted: Oct. 16, 2008 @ 1:05p
craig10x said: Question: I have no problem logging in...i can access the help menu and the change profile menu and the contact us link at the bottom.... However, i am finding i cannot click on the function buttons at the top, to see account information..summary...transfers application....
Are you able to do that? Can you get to those sections and see your account information? I can't.....i am wondering if perhaps their online banking is not compatable with MAC Computers and Safari Web Browser........ Can you access those things? And what type of computer do you use? (operating system and browser)? There's dropdown menu when you move cursor to those options. you need to click on the options inside of drop down menu.
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