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  First Bank and Trust of New Orleans Preferred Savings

First Bank and Trust of New Orleans Preferred Savings

in Savings Accounts from First Bank and Trust of New Orleans · fdic

Unaffiliated

First Bank and Trust of New Orleans Preferred Savings

Unaffiliated

in Savings Accounts from First Bank and Trust of New Orleans · Member FDIC

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Highlights
Monthly Fee $0 - $3
APY (Annual Percentage Yield) 0.05% - 0.13%
APY Minimum Balance N/A

First Bank and Trust of New Orleans Preferred Savings Review

First Bank and Trust of New Orleans Preferred Savings is offered by First Bank and Trust of New Orleans, a bank founded in 1991 and based in New Orleans, LA. First Bank and Trust of New Orleans Preferred Savings is available in 3 states across the USA.

Key Takeaways
  • Higher than average APY. First Bank and Trust of New Orleans Preferred Savings has an annual percentage yield of up to .13%, which is higher than the national average interest rate on savings accounts.
  • Charges a monthly fee. This account charges a monthly service fee of up to $3, but the fee is waived if you keep a minimum balance of $200.
First Bank and Trust of New Orleans Preferred Savings Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card
  • Access to a nationwide network of ATMs.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Only available in 3 states.
  • Higher than average wire transfer fees.
  • Monthly service charge.
First Bank and Trust of New Orleans Preferred Savings FAQ

Are savings accounts from First Bank and Trust of New Orleans federally insured?

Yes, your First Bank and Trust of New Orleans savings 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.

Does First Bank and Trust of New Orleans offer a signup bonus?

First Bank and Trust of New Orleans Preferred Savings doesn't offer a signup bonus.

What is the minimum initial deposit for First Bank and Trust of New Orleans Preferred Savings?

The minimum deposit to open a First Bank and Trust of New Orleans Preferred Savings is $50.
First Bank and Trust of New Orleans Preferred Savings Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $200
Minimum Opening Deposit Starting at $50

What APY does First Bank and Trust of New Orleans offer?

First Bank and Trust of New Orleans Preferred Savings offers an APY starting at .05% and ranging up to .13% (APY stands for annual percentage yield, rates may change).

What fees does First Bank and Trust of New Orleans Preferred Savings charge?

First Bank and Trust of New Orleans Preferred Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $200.

  • Outgoing domestic bank transfers come with a $23.50 fee.
  • Incoming domestic bank transfers come with a $15 fee.
  • Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $40 fee.
  • First Bank and Trust of New Orleans Preferred Savings charges a $25 fee for an early account closure. Contact First Bank and Trust of New Orleans Preferred Savings for more details on what is considered an early closure.
  • First Bank and Trust of New Orleans Preferred Savings charges $3 every time you request a paper statement.

What features and perks does First Bank and Trust of New Orleans Preferred Savings offer?

This savings account includes the following features:

  • Fraud monitoring - First Bank and Trust of New Orleans Preferred Savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Mobile Banking Services - First Bank and Trust of New Orleans Preferred Savings allows you to manage your money online or with a mobile app.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to First Bank and Trust of New Orleans Preferred Savings?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for First Bank and Trust of New Orleans Preferred Savings?

The customer support email for First Bank and Trust of New Orleans Preferred Savings is gblossman@fbtonline.com.

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Availability

  Available in 3 states
  • Florida
  • Louisiana
  • Mississippi

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $200
Minimum Opening Deposit Starting at $50
Bank Teller Fee $0
Early Account Closure $25
Monthly Fee $0 - $3
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $6
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $23.50
Wire Transfer Fee - International (Incoming) $40
Wire Transfer Fee - International (Outgoing) $45
Account Features
  • Member FDIC
  • Branch Access
  • Debit Card
  • Fraud Protection
  • Fraud Monitoring
  • Mobile Banking
  • Nationwide ATM Network
  • Interest Bearing Account
APY (Annual Percentage Yield) 0.05% - 0.13%

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