
First Mid Bank & Trust Retail Money Market
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APY (Annual Percentage Yield) | 0.05% - 0.65% |
Minimum Balance to Earn APY | N/A |
Minimum Opening Deposit | Starting at $1,000 |
First Mid Bank & Trust Retail Money Market Review
First Mid Bank & Trust Retail Money Market is offered by First Mid Bank & Trust, a bank founded in 1934 and based in Mattoon, IL. First Mid Bank & Trust Retail Money Market are available in 2 states across the USA.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to .65%, which is much higher than the national average for a money market account.
- 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 $5, but the fee is waived if you keep a minimum balance of $1,000.
- $1,000 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
Pros & Cons of First Mid Bank & Trust Retail Money Market
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First Mid Bank & Trust Retail Money Market FAQ
Are money market accounts from First Mid Bank & Trust federally insured?
Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #3705). 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 Mid Bank & Trust Retail Money Market rates?
First Mid Bank & Trust Retail Money Market offers an APY starting at .05% and ranging up to .65% (APY stands for annual percentage yield, rates may change).
Rates | Amount |
---|---|
APY (Annualized Percentage Yield) | .05% - .65% |
What are the fees for First Mid Bank & Trust Retail Money Market?
This account charges a monthly maintenance fee of up to $5. You can avoid this fee by maintaining a balance of $1,000.Fees | Amount |
---|---|
Monthly Fee | up to $5 |
Paper Statement Fee | N/A |
What is the minimum balance for First Mid Bank & Trust Retail Money Market?
Minimum deposit of $1,000. You must make an initial deposit of at least $1,000 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 Mid Bank & Trust Retail Money Market offer?
This account includes the following features:
- Fraud monitoring - First Mid Bank & Trust monitors transactions for potentially fraudulent activity.
- Mobile Banking Services - First Mid Bank & Trust Retail Money Market allows you to manage your money through online banking and a dedicated mobile app.
What is the customer service phone number?
The customer service number for this business card is .
What is the support contact email?
The support contact email for this business credit card is socialmedia@firstmid.com.
How to open an account with First Mid Bank & Trust
- Visit the First Mid Bank & Trust 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.
Contact
- Headquarters
-
1515 Charleston Ave
Mattoon, IL 61938 USA - Visit Site
- Email Support
Other Services by First Mid Bank & Trust
Availability
- Illinois
- Missouri
Feature Breakdown
Minimum Balance to Avoid Monthly Fee | Starting at $1,000 |
Minimum Opening Deposit | Starting at $1,000 |
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