First Mid Bank & Trust Retail Money Market

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

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).

What are the fees for First Mid Bank & Trust Retail Money Market?

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.