Important Information About Your Business Account
Exciting New Changes Coming
Checking | Savings | Cash Management | Meet the Team
We are pleased to announce Citadel will soon be launching new Business Banking products. A full suite of dynamic products and services will be available to local businesses and organizations as of August 1, 2022.
As a result, all existing business accounts will be automatically migrated to new account types effective August 1, 2022. Please be aware no immediate action is required. Your account number(s), online banking login credentials, and transaction history will remain unchanged.
All existing business checking accounts, including Free Checking, Star Checking, and Premiere Checking accounts, will be automatically migrated to Citadel’s new Essential Business Checking account effective August 1, 2022. This is a checking account with no monthly fee or minimum balance requirements. If you prefer, you may choose to upgrade your account to Citadel’s new Elite Business Checking account on or after August 1st via Online Banking.
There will be no changes to current account numbers. Also, please note there will be no changes to current checking accounts used for personal banking purposes; this update only affects business banking accounts.
Compare Checking Accounts
See how Citadel’s new Essential Business Checking and Elite Business Checking accounts compare to existing checking accounts. To confirm your current checking account type, log in to Online Banking. In the menu option, select 'Account Preferences', under the 'My Profile & Preferences' menu item.
|Feature||Free Checking||Star Checking||Premiere Checking||*NEW* Essential Business Checking||*NEW* Elite Business Checking|
|Monthly Service Charge||$0||$7||$17||$0||$15|
|Ways to Avoid a Monthly Service Charge||N/A; no monthly service charge||Waived with $500 average daily checking balance or $10,000 Household Deposit & Loan Balance||Waived with $5,000 average daily checking balance or $25,000 Household Deposit & Loan Balance||N/A; no monthly service charge||Waived with $5,000 average daily checking balance or $25,000 combined average daily balance in deposits and month end investment balances, or Citadel Merchant Services with at least one merchant services deposit per month|
|Free or Discounted Checks||No||No||Free checks (Current Premiere Checking members can continue to receive the standard free checks they receive today.)||25% discount on first order||50% discount on first order|
|Overdraft Transfer Fee||$5||3 free overdraft transfers per month||Free||$5||$5|
|Transactions at Citadel ATMs||Free||Free||Free||Free||Free|
|Transactions at Non-Citadel ATMs1||$3 per withdrawal; $1 per balance inquiry||Free||Free||Free||Free|
|Stop Payment Fee||$25||$25||$25||$25||$25|
|Paper Statement Fee2||$2 per month; waived for ages under 21 and 70+||$2 per month; waived for ages under 21 and 70+||$2 per month; waived for ages under 21 and 70+||$2 per month||$2 per month|
|Courtesy Pay/NSF Fee||$33||$33||$33||$33||$33|
|Wire Transfers||Standard wire fees||Standard wire fees||Standard wire fees||Standard wire fees||2 free domestic wires per quarter via Online Banking|
|New Fees||N/A||N/A||N/A||Up to 200 free transactions per month; $0.25 per additional3||Up to 500 free transactions per month; $0.25 per additional3|
Current debit cardholders will be automatically reissued new business debit cards with new card numbers later this year. Additional details regarding new debit cards will be mailed to cardholders in September.
Members will not be charged for any existing debit cards that are automatically reissued, and all existing cards will remain active until new cards have been activated by the cardholder.
Savings Accounts, Certificates, and Loans
There will be no major changes to existing business savings accounts or certificates, other than the name of the account type. For example, you may notice your “High Yield Savings” account referred to as “Business High Yield Savings” in Online Banking and other future communications after August; however the current product features, rates, account numbers and online banking credentials will remain the same. There will be no changes to existing business loans.
Cash Management and Business Online Banking
In addition to business checking and savings accounts, Citadel is also launching new Cash Management Solutions, including Payroll & HR, enhanced Online Banking features, and Merchant Services.
With Merchant Services provided by Clover, you can simplify your business operations with an all-in-one payment processing system and business management solution tailored to meet the unique needs of restaurants, retailers, and service businesses. And with Payroll & HR Solutions, you can tackle processing of payroll, time and attendance, payroll tax management, pre-employment services, and benefits administration for your team. Learn more about Cash Management Solutions.
Citadel's current Online Banking tools will also be updated with services designed specifically for Business Banking. You will have the opportunity to upgrade your account for access to additional features, such as online wires.
If you're interested in upgrading your Online Banking account or would like to discuss any questions you may have, please schedule an appointment.
|Business Online & Mobile Banking Features||Basic||Essential||Elite|
View balances and Pending & Posted Transaction History
Account Alerts via Email or Text Message
|Remote Deposit Capture (Mobile and Desktop)||✔
|eDocument Access up to 7 years||✔
|Citadel Money Manager - View transactions by business category (also available in Mobile App)
|User Management with Approval Workflows
|Domestic and International Wire Transfers||✔
|ACH and Payroll Services||✔
Meet Our Business Banking Team
Phil Sutliff was hired as Citadel’s Head of Business Banking in late 2021. He joined Citadel from Blue Federal Credit Union in Colorado where he served as the Vice President of Business Banking, and he previously held leadership roles at both Santander Bank and Bank of America.
Working with a variety of Citadel teams as well as hiring new talent under Phil’s leadership, the division will offer a suite of full-service checking, savings, lending, and cash management solutions for businesses across Philadelphia and the surrounding tri-state area.
Our new Senior Relationship Managers – Kye Kreutzberger (Western Region), Eric Murchison (Eastern Region), Anil Punjwani (Central Region), and Brendon Robinson (Northern Region) – are financial champions for their clients, with decades of deep expertise in the Greater Philadelphia area.
With a new team in place, and with support from the entire organization, Citadel is uniquely positioned to support local businesses and organizations with cost-efficient products and a relationship-based approach to establish and maintain meaningful, ongoing connections that companies can depend upon.
View Terms & Conditions, or view the latest Schedule of Fees. If you have any additional questions, please contact (800) 666-0191 ext.1575 to speak with a representative.
Want a sneak peek at Merchant Services, Payroll & HR Solutions, and Business Loans?Learn More
Find an ATM or Branch Near You
Frequently Asked Questions
Citadel is launching new accounts designed specifically to serve the unique needs of local businesses. Any businesses that previously opened standard accounts for business use will automatically be migrated to new business account types in August. There will be no changes to account numbers, or to accounts used for personal banking purposes.
There will be no changes to your Online Banking experience and your account login credentials will not change. There will be new online banking version that has new features/functionally available to business members. After review, business owners will have the option to opt-in to the new online banking site or continue using the current version.
No, since your business account number and Share ID will remain the same, new checks are not needed.
Yes, all existing checking accounts will be automatically migrated to Citadel's new Essential Business Checking on August 1, 2022. If you prefer, you may upgrade to Elite Business Checking in Online or Mobile Banking on or after August 1, 2022.
No, you will continue to use the same login and password on August 1.
Still have questions? Visit our help center.
Business Checking Disclosures
1 ATM transactions at non-Citadel ATMs may be subject to a surcharge from the ATM owner. For a list of ATMs with no surcharge, visit Citadelbanking.com/atm.
2 Paper statement fees can be waived by enrolling in Online and Mobile Banking and signing up for electronic statements.
3 Transaction fees will be waived from August 1, 2022 through October 31, 2022. Transaction fees will be incurred beginning on November 1, 2022.