SuperMoney
  First Mid Bank & Trust Retail Money Market

First Mid Bank & Trust Retail Money Market

in Money Market Accounts from First Mid Bank & Trust · fdic

Unaffiliated

First Mid Bank & Trust Retail Money Market

Unaffiliated

in Money Market Accounts from First Mid Bank & Trust · Member FDIC

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend First Mid Bank & Trust Retail Money Market to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
APY (Annual Percentage Yield) 0.05% - 0.65%
APY Minimum Balance 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 is available in 2 states across the USA.

Key Takeaways
  • Very high 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
Pros Cons
  • High-interest yield.
  • Does not offer mobile check deposits.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card.
  • Only available in 2 states.
  • Monthly service charge.
First Mid Bank & Trust Retail Money Market FAQ

Are money market accounts from First Mid Bank & Trust federally insured?

Yes, your First Mid Bank & Trust money market accounts 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).

First Mid Bank & Trust Retail Money Market Rates and Terms
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.
First Mid Bank & Trust Retail Money Market Fees
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.
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.

Availability

  Available in 2 states
  • Illinois
  • Missouri

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $1,000
Minimum Opening Deposit Starting at $1,000
Monthly Fee $0 - $5
Account Features
  • Member FDIC
  • Branch Access
  • Fraud Monitoring
  • Mobile Banking
  • Interest Bearing Account
APY (Annual Percentage Yield) 0.05% - 0.65%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly
Dividend Rate 0.05% - 0.65%

Be the first to rate

 

Would you recommend First Mid Bank & Trust Retail Money Market to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

Other Money Market Accounts