Is CIT Bank legit?

My father recently tried to open an account with CIT Bank. They claim to be FDIC insured, but when I searched for them on the FDIC BankFindSuite, it said the institution is closed. Does this mean the website is a scam? Here’s the link for reference:

When I tested the login feature with random characters, it let me through and asked which phone number I wanted to use to sign in, even though it wasn’t a real account. Does anyone know if this is normal?

Yes, CIT Bank is real. They are now part of First Citizens Bank. While I don’t have an opinion on whether they’re good, they are FDIC insured. Their branches have been rebranded as First Citizens in recent years.

@Dolph
Thanks for clarifying. Can you explain the login bug? When I tried to log in using random credentials, it still asked for a phone number for verification.

Mal said:
@Dolph
Thanks for clarifying. Can you explain the login bug? When I tried to log in using random credentials, it still asked for a phone number for verification.

That’s likely a security measure to prevent account enumeration. It’s a way to avoid giving hackers clues about which accounts exist. Instead of confirming invalid credentials, it gives a generic response.

Yes, CIT Bank is legitimate and FDIC insured. My HOA uses them, but they’re now part of First Citizens Bank.

I’ve had accounts with CIT over the years and never had issues. They offer decent rates for high-yield savings accounts and CDs.

CIT is real and FDIC insured. It’s now a division of First Citizens Bank. Their website prominently displays an FDIC banner.

Why did your father choose CIT Bank? There are plenty of banks to pick from, so what drew him to this one?

Uma said:
Why did your father choose CIT Bank? There are plenty of banks to pick from, so what drew him to this one?

They advertise high interest rates with their platinum savings plan.

Uma said:
Why did your father choose CIT Bank? There are plenty of banks to pick from, so what drew him to this one?

CIT currently offers some of the best rates for high-yield savings accounts. That might be why.

I had an issue with CIT before. A large check I sent them went missing, and their customer service didn’t handle it well. It took weeks to resolve, and now I only keep a small balance with them. Their rates are decent, but their reliability can be hit or miss.

If you want to confirm their status, try using the FFIEC NIC Search.

CIT Bank merged with First Citizens Bank, which also acquired SVB. They are legitimate.

CIT Bank is real. Just don’t confuse it with similar-sounding names.