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  First Bank Performance Money Market

First Bank Performance Money Market

in Money Market Accounts from First Bank · fdic

Unaffiliated

First Bank Performance Money Market

Unaffiliated

in Money Market Accounts from First Bank · Member FDIC

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Highlights
APY (Annual Percentage Yield) 0.01% - 0.02%
APY Minimum Balance $0
Minimum Opening Deposit Starting at $100

First Bank Performance Money Market Review

First Bank Performance Money Market is offered by First Bank, a bank founded in 1906 and based in Creve Coeur, MO. First Bank Performance Money Market is available in 3 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.02.
  • No APY minimum balance. There is no minimum amount you have to deposit to start earning interest with this money market account.
  • Charges a monthly fee. This account charges a monthly service fee of up to $10, but the fee is waived if you keep a minimum balance of $1,000.
  • Small minimum initial deposit. You only need $100 to open an account.
Pros & Cons of First Bank Performance Money Market
Pros Cons
  • Does not offer mobile check deposits.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card.
  • Only available in 3 states.
  • Monthly service charge.
First Bank Performance Money Market FAQ

Are money market accounts from First Bank federally insured?

Yes, your First Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #12229). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the interest rates for First Bank Performance Money Market rates?

First Bank Performance Money Market offers an APY starting at 0.01% and ranging up to 0.02% (APY stands for annual percentage yield, rates may change).

First Bank Performance Money Market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.01% - 0.02%

What are the fees for First Bank Performance Money Market?

This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $1,000.
First Bank Performance Money Market Fees
Fees Amount
Monthly Fee up to $10
Paper Statement Fee N/A

What is the minimum balance for First Bank Performance Money Market?

Minimum deposit of $100. You must make an initial deposit of at least $100 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $1,000.

What features and perks does First Bank Performance Money Market offer?

This account includes the following features:

  • Fraud monitoring - First Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - First Bank Performance Money Market allows you to manage your money through online banking and a dedicated mobile app.

How to open an account with First Bank

  • Visit the First Bank website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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Availability

  Available in 3 states
  • California
  • Illinois
  • Missouri

Feature Breakdown

APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $100
Monthly Fee $0 - $10
Account Features
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Branch Access
  • Member FDIC
APY (Annual Percentage Yield) 0.01% - 0.02%
Dividend Compounding Frequency Monthly
Dividend Payout Frequency Monthly
Dividend Rate 0.01% - 0.02%

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