Last Updated: 04/18/2025
First Mid Bank & Trust Retail Money Market
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
4.60%(Verified 07/22/2024)
Disclaimer popup with additional information
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.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.60%, which is much higher than the national average for a money market account.
- Charges a monthly fee. This account charges a monthly fee of up to $5, but the fee may be 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 by the Federal Deposit Insurance Corporation (FDIC). 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?
| Rates | Amount |
| APY | 4.60% |
First Mid Bank & Trust Retail Money Market offers an APY of up to 4.60% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.
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.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0 - $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 account 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.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 5:00PM
Saturday
9:00AM - 12:00PM