First Midwest Bank Money Market Review

First Midwest Bank Money Market is offered by First Midwest Bank, a bank founded in 1933 and based in Chicago, . First Midwest Bank Money Market is available in 4 states across the USA.

Are money market accounts from First Midwest Bank federally insured?

Yes, your First Midwest Bank money market accounts are insured up to $250,000 per person 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 First Midwest Bank Money Market rates?

First Midwest Bank Money Market Rates and Terms

Rates	Amount
APY	0.03%

First Midwest Bank Money Market offers an APY of up to 0.03% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a minimum balance of $0.01.

What are the First Midwest Bank Money Market fees?

This account charges a monthly maintenance fee of up to $15. You can avoid this fee by maintaining a balance of $1,000.

First Midwest Bank will charge you a $15 fee if you exceed your maximum number of monthly transactions.

First Midwest Bank will allow you to make up to 6 transactions per month. That is also the maximum set by federal regulations for money market accounts.

First Midwest Bank Money Market Fees

Fees	Amount
Monthly Fee	up to $15
Paper Statement Fee	N/A
Excess Transaction Fee	$15

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

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

Monthly maintenance minimum balance of $1,000. You can avoid the monthly fee if you keep a minimum balance $1,000.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

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

This account includes the following features:

• Fraud monitoring - First Midwest Bank monitors transactions for potentially fraudulent activity.
• Mobile Banking Services - First Midwest Bank 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.