First Midwest Bank IRA Money Market Review

First Midwest Bank is based in Chicago, . It was founded in 1933 and offers its money market accounts in 4 states across the USA.

If you're considering a money market account and want to know whether First Midwest Bank IRA Money Market is right for you, read on.

Is First Midwest Bank IRA Money Market insured by the FDIC?

FDIC insured. First Midwest Bank IRA Money Market is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in money market accounts up to $250,000 per depositor if a member institution fails.

What are the First Midwest Bank IRA Money Market rates?

First Midwest Bank IRA Money Market offers an APY starting at 0.05% and ranging up to 0.15% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1000.

What are the First Midwest Bank IRA Money Market fees?

First Midwest Bank IRA Money Market does not charge a monthly maintenance fee.

Federal regulations limit the number of transactions you can make from your money market account to six per month.

What is the minimum balance for First Midwest Bank IRA Money Market?

Minimum initial deposit of $100. You must make an initial deposit of at least $100 to open this account.

Interest rate minimum balance of $1,000. You must keep the account balance above $1,000 to earn interest.

What features and perks does First Midwest Bank IRA Money Market offer?

This account includes the following features:

• Mobile Banking Services - First Midwest Bank IRA Money Market allows you to manage your money online.

How to open an account with First Midwest Bank

• Visit the First Midwest 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.