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  F&M Bank Platinum Checking
F&M Bank Platinum Checking Unaffiliated

F&M Bank Platinum Checking

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Highlights
Cashback Rewards N/A
APY (Annual Percentage Yield) 0.02% - 0.03%
(Verified 07/17/2022)
Monthly Fee $0 - $50
Minimum Balance to Avoid Monthly Fee Starting at $15,000

F&M Bank Platinum Checking Review

F&M Bank Platinum Checking is offered by F&M Bank, founded in 1907 and based in Long Beach, CA. F&M Bank Platinum Checking is available in 1 state across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only .03%.
  • Charges a monthly fee. This account charges a monthly service fee of up to $50, but the fee is waived if you keep a minimum balance of $15,000.
  • $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
Farmers and Merchants Bank checking account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Not FDIC-insured.
  • Only available in one state.
  • Monthly service charge.
Farmers and Merchants Bank checking account FAQ

Are checking accounts from F&M Bank federally insured?

No, your F&M Bank checking accounts are not insured by a federal insurance agency. This means that if F&M Bank were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

What APY does Farmers and Merchants Bank checking account offer?

Farmers and Merchants Bank checking account offers an APY starting at .02% and ranging up to .03% (APY stands for annual percentage yield, rates may change).

Farmers and Merchants Bank checking account Rates and Terms
Rates Amount
APY (Annual Percentage Yield) .02% - .03%

What are the account minimums for Farmers and Merchants Bank checking account?

Farmers and Merchants Bank checking account requires a minimum initial deposit of $100 to open an account.

F&M Bank Platinum Checking Minimums
Description
Minimum Combined Balance to Avoid Monthly Fee $100,000
Minimum Opening Deposit Starting at $100
Minimum Balance to Avoid Monthly Fee Starting at $15,000

What fees does Farmers and Merchants Bank checking account charge?

This account charges a monthly service fee of up to $50.

F&M Bank Platinum Checking Fees
Description
ATM Fee: In-Network $0
Bank Teller Fee $0
Check Cashing Fee $0
Check Copy $3
Early Account Closure $20
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $50
NSF Fee $30
Online Bill Pay Fee $0
Overdraft Item Fee $30
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $30
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $60
ATM Fee: Out-of-Network Starting at $0

Does Farmers and Merchants Bank checking account charge overdraft fees?

Yes, Farmers and Merchants Bank checking account charges a $30 fee for every overdraft.

What features and perks does Farmers and Merchants Bank checking account offer?

This account includes the following features:

What is the customer support email for Farmers and Merchants Bank checking account?

The customer support email for Farmers and Merchants Bank checking account is rcs@fmb.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From F&M Bank

Experience the personalized service offered by one of the strongest banks in California. Whether you are looking for a basic or interest-bearing checking account, let one of our F&M personal bankers customize a solution that meets your needs and goals. Platinum Checking Benefits: Nationwide ATM Fee Reversals, Interest on Checking, Free Safe Deposit Box for 1 Year Upon Request (1 Box Based on Availability).

Availability

  Available in 1 state
California
Availabile in all of California

Feature Breakdown

Minimum Combined Balance to Avoid Monthly Fee $100,000
Minimum Opening Deposit Starting at $100
Minimum Balance to Avoid Monthly Fee Starting at $15,000
ATM Fee: In-Network $0
Bank Teller Fee $0
Check Cashing Fee $0
Online Bill Pay Fee $0
Paper Statement Fee $0
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
ATM Fee: Out-of-Network Starting at $0
Check Copy $3
Early Account Closure $20
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $50
NSF Fee $30
Overdraft Item Fee $30
Returned Deposit Fee (Domestic) $30
Wire Transfer Fee - International (Outgoing) $60
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • ATM Reimbursement
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card
  • Branch Access
  • Member FDIC
  • Check Writing
APY (Annual Percentage Yield) 0.02% - 0.03%
(Verified 07/17/2022)

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