A business bank account isn’t just where you stash money. It should help you manage and grow your business. That’s why many entrepreneurs take a closer look at First Citizens Business Bank when evaluating their options.

As one of the country’s more established financial institutions, First Citizens Business Bank offers a traditional banking experience with tiered account structures, cash-handling capabilities, and a mix of in-person and digital services. However, legacy banking isn’t always built for speed. Let’s see what First Citizens brings to the table and whether it’s the right fit for your business.

Overview of First Citizens Business Bank

First Citizens Bank has been around for more than 100 years, making it one of the longest-standing banks in the U.S. What started as a single branch in North Carolina has grown into a national presence, especially after its high-profile merger with CIT Bank in 2022.

Today, First Citizens Business Bank serves entrepreneurs, small businesses, and larger commercial clients across 23 states. It offers a mix of traditional banking services (checking, savings, loans) as well as treasury management and merchant solutions for more complex needs.

The bank’s strongest appeal is access to a physical branch. With more than 500 locations, customers can walk in to make deposits, get help, or manage accounts in person. It also supports online and mobile banking, but its platform is more traditional than tech-forward. While you’ll find the basics, like mobile check deposit, bill pay, and account alerts, it lacks some of the built-in tools and real-time features that modern business owners have come to expect.

If you’re comfortable with branch-based banking and don’t mind some paperwork, First Citizens offers familiarity and a wide range of products. But for fast-moving startups or solo founders who need speed and simplicity, this experience may feel slower than today’s digital-first options.

Business Checking Account Options

First Citizens Business Bank offers several checking account options designed for different business sizes and transaction volumes. While this variety gives you choices, it can also create confusion—especially if you’re looking for something straightforward.

Here’s a breakdown of their most common business checking tiers:

Business Banking Account

Best for small businesses with lower transaction needs.

  • No monthly fee if you enroll in e-statements or maintain a $500 balance
  • 100 free transactions per month, then $0.50 per item
  • Up to $5,000 in free cash deposits monthly

Business Advantage Checking

Designed for mid-sized businesses with higher transaction volume.

  • Monthly fee of $20 (waived with a $7,500 balance)
  • 250 free transactions per month
  • Up to $10,000 in free cash deposits

Commercial Advantage Checking

Aimed at larger businesses with complex needs.

  • $75 monthly fee (waived with a $25,000 balance)
  • 750 free transactions per month
  • Up to $20,000 in free cash deposits
  • Access to treasury management tools

These accounts can be bundled with additional services like savings, loans, and merchant payment tools, which may benefit businesses with multi-layered finances.

That said, the structure can feel a bit dated. Between balance requirements, transaction caps, and tiered pricing, it’s easy to get stuck micromanaging limits. By contrast, a platform like North One offers one flat-rate business checking account—no tiers, no balance minimums, and no transaction limits.

Fees and Requirements

Bank fees often seem small, but they add up fast, especially for businesses managing high transaction volumes. First Citizens Business Bank uses a tiered fee model that’s fairly standard in traditional banking, but not always startup-friendly. Here’s what you can expect:

Monthly maintenance fees

  • $0 to $75 depending on account tier
  • Waived with eStatements or minimum balance (ranges from $500 to $25,000)

Transaction overages

  • Free monthly limits vary by account (100–750 items)
  • $0.50 per transaction after that

Cash deposit fees

  • Up to $5,000–$20,000 in cash deposits are free (based on account type)
  • $0.30 per $100 after the limit

Wire transfer and ACH fees

  • Domestic wires: $15 each
  • International wires: Free in foreign currency, $25 in USD
  • ACH and external transfers: $2.99 per item
  • Monthly wire access fee: $15

ATM fees

  • Free at First Citizens ATMs
  • Out-of-network ATM use incurs fees
  • 3% fee for international withdrawals

The structure works well if you’re able to meet waiver criteria and stay within monthly limits. But if your business scales quickly or has fluctuating cash flow, the costs can become unpredictable.

In contrast, North One charges a flat $10 monthly fee. There are no balance requirements, no per-item transaction fees, and no penalties for using your account the way your business demands. It’s a simple, upfront model built for momentum, not micromanagement.

Digital Tools and Mobile Experience

First Citizens Business Bank offers a digital banking experience, but it’s not exactly cutting-edge. For businesses used to intuitive apps and fast functionality, the platform may feel limited. You’ll find the basics like mobile check deposit, account alerts and balance monitoring, online bill pay, and eStatement access.

Their app is well-rated in the App Store and Google Play, which speaks to its general reliability. But it’s built around traditional banking tasks—viewing balances, transferring funds, and paying bills. You won’t find advanced tools for automating budgets or organizing finances by category.

There’s also limited integration with third-party tools like QuickBooks, Stripe, or Shopify. If your business relies on those platforms—or needs real-time visibility into spending—the digital experience may come up short.

By contrast, North One was built from the ground up as a mobile-first banking solution. With features like automatic budgeting through sub-accounts, direct integrations with your business tools, and instant transaction notifications, it’s a digital experience that keeps pace with how modern businesses operate.

Customer Service Deep-Dive

First Citizens offers customer support through phone, online, and in-branch service. Business hours are generous—8 a.m. to 9 p.m. on weekdays, and 8 a.m. to 8 p.m. on weekends. That said, many users report that getting help can be hit or miss. Some issues get routed to local branches, which can require in-person visits.

There’s no live chat or consistent in-app messaging, which limits support options for businesses that operate outside of traditional hours. If you’re building something fast, waiting on a callback is less than ideal. By contrast, North One customers get access to real-time, human support through chat, email, and phone, seven days a week.

Pros and Cons of First Citizens Business Bank

Like any banking option, First Citizens comes with tradeoffs. Here’s a quick look at where it shines—and where it may fall short for growing businesses.

Pros

  • No monthly fee on basic account (if waiver conditions are met)
  • High transaction limits available on premium tiers
  • Up to $20,000 in cash deposits without extra charges
  • Access to treasury management tools for complex needs
  • Extensive physical branch network across 23 states

Cons

  • Tiered pricing and requirements can be hard to navigate
  • Transaction overages and wire transfer fees add up
  • Limited digital tools and integrations
  • Customer service often routes back to local branches
  • High minimum balances required for fee waivers at higher tiers

If you value in-person banking and can manage the requirements, First Citizens may be a fit. But if you’re looking for a streamlined, mobile-first solution, you may want to explore modern alternatives.

First Citizens Business Bank vs. North One

Choosing a business bank means weighing your priorities—cost, flexibility, and digital capabilities. Here’s how First Citizens Business Bank stacks up against North One:

FeatureFirst Citizens Business BankNorth One
Monthly Fee$0–$75 (waivable with balance or e-statements)$0 or $30 flat
Minimum Balance$500–$25,000 (to waive fees)None
Free Transactions100–750 per month (tiered)Unlimited
Cash Deposit Limit$5,000–$20,000/month (tiered)Not applicable (digital-only)
Branch AccessYes (500+ locations)No (fully digital)
Mobile App ToolsBasic mobile bankingBudgeting tools, sub-accounts, app integrations
Business Tool IntegrationsLimitedQuickBooks, Stripe, Shopify, and more
Customer SupportPhone and branch support during business hoursReal-time support Mon-Fri
Setup TimeVaries by branchMinutes (online)

First Citizens brings legacy strength and in-person access, while North One delivers simple pricing and modern tools for founders on the go. The right choice depends on how—and where—you run your business.

Is First Citizens the Right Fit for Your Business?

If your business relies on in-person service, handles frequent cash deposits, or prefers working with a legacy institution, First Citizens Business Bank could be a solid match. Its range of account tiers and physical branch access make it appealing for more traditional operations.

But if you’re a startup, freelancer, or fast-moving business looking for speed, simplicity, and fewer surprises, the experience may feel outdated. Managing fees and staying under transaction caps can quickly become a chore.

For founders who want to move quickly, North One offers a modern alternative. One flat fee, mobile-first tools, and no balance requirements—just a business account that works as fast as you do.

Choose a Smarter Way to Bank, Built for the Way You Work

The right banking partner should forge a clear path, not slow you down. North One was built with that mission in mind. It’s more than a checking account—it’s a smarter way to manage your money, track your progress, and stay focused on what matters most: building something great.

Ready to simplify your business banking? Get started with North One.