First Horizon Bank Money Market Savings Account

First Horizon Bank Money Market Savings Account Review

First Horizon Bank Money Market Savings Account is offered by First Horizon Bank, a 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 annual percentage yield (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

First Horizon Bank Money Market Savings Account FAQ

Are money market accounts from First Horizon Bank federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #4977). 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 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.

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

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:

• Fraud monitoring - First Horizon Bank monitors transactions for potentially fraudulent activity.
• Mobile Banking Services - First Horizon money market allows you to manage your money through online banking and a dedicated mobile app.
• Nationwide ATM network - First Horizon money market allows you to access your money from an ATM, a convenient feature only a few offer.

What is the customer service phone number?

The customer service number for this business card is (800) 382-5465.

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.