Citizens Bank

Citizens Bank, operating as Citizens Bank, N.A., serves US businesses with checking and savings accounts and also acts as an escrow agent.

Business accounts

Accounts are opened by contacting a specialist or visiting a branch. Digital services let a company assign different permissions to users, transfer funds, manage payments and view images of paid cheques. The bank offers business checking and business savings, with online banking and multiuser access. It discloses FDIC membership; coverage depends on the depositor, the ownership category and eligibility, and it is not comparable to safeguarding at an e-money institution.

Escrow and agency

As a neutral escrow agent, Citizens handles M&A, private equity, subscription agreements and construction holdbacks. Services include escrow agency, paying agent and shareholder representation. The bank also provides accessESCROW, an online tool for managing sub-accounts and reporting. Escrow is offered in the US market and in money form.

Who it suits

The accounts suit US companies that want a traditional bank with delegated online access, and the escrow line suits deal parties that need a neutral agent. Prices and onboarding documents are not given in the profile.