First Horizon Bank Money Market Savings Account

Unaffiliated

in Money Market Accounts from First Horizon Bank

Not enough votes for recommendation

Explore a similar product

Try this top product in Money Market Accounts.

Quontic Bank Money Market Account

Strongly recommended

5 reviews

Learn More

Highlights
APY (Annual Percentage Yield)	0.01% - 0.1%
Minimum Balance to Earn APY	$0.01
Minimum Opening Deposit	Starting at $50

First Horizon Bank Money Market Savings Account Review

First Horizon Bank Money Market Savings Account is offered by First Horizon Bank, founded in 1864 and based in Memphis, TN. First Horizon Bank Money Market Savings Account is available in 6 states across the USA.

Key Takeaways

Very high APY. This account offers an annual percentage yield of up to 0.1%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $0.01.
Charges a monthly fee. This account charges a monthly service fee of up to $9, but the fee is waived if you keep a minimum balance of $5,000.
Small minimum initial deposit. You only need $50 to open an account.

Pros & Cons of First Horizon Bank Money Market Savings Account

Pros	Cons
High-interest yield. Does not offer mobile check deposits.	No signup bonus. Does not provide a debit card. Not FDIC-insured. Only available in 6 states. Monthly service charge.

First Horizon Bank Money Market Savings Account FAQ

Are money market accounts from First Horizon Bank federally insured?

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

What are the interest rates for First Horizon money market rates?

First Horizon money market offers an APY starting at 0.01% and ranging up to 0.1% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

First Horizon money market Rates and Terms
Rates	Amount
APY (Annualized Percentage Yield)	0.01% - 0.1%

What are the fees for First Horizon Bank Money Market Savings Account?

This account charges a monthly maintenance fee of up to $9. You can avoid this fee by maintaining a balance of $5,000.

First Horizon Bank Money Market Savings Account Fees
Fees	Amount
Monthly Fee	up to $9
Paper Statement Fee	$2

What is the minimum balance for First Horizon money market?

Minimum deposit of $50. You must make an initial deposit of at least $50 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $5,000.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does First Horizon money market offer?

This account includes the following features:

What is the support contact email?

The support contact email for this business credit card is customerservice@firsthorizon.com.

How to open an account with First Horizon Bank

Visit the First Horizon 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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

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.