Last Updated: 04/18/2025
First Horizon Bank Traditional Savings Account
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in Savings Accounts from First Horizon Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.01%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $50
Minimum Balance to Earn APY
$0
First Horizon Bank Traditional Savings Account Review
First Horizon Bank Traditional Savings Account is offered by First Horizon Bank, a bank founded in 1864 and based in Memphis, TN. First Horizon savings account are available in 5 states.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.01%.
First Horizon savings account Pros & Cons
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First Horizon savings account FAQ
Are savings accounts from First Horizon Bank federally insured?
Yes, your deposits are insured 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 Horizon Bank offer a signup bonus?
First Horizon savings account doesn't offer a signup bonus.
What is the minimum initial deposit for First Horizon savings account?
The minimum deposit to open a First Horizon savings account is $50.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does First Horizon Bank Traditional Savings Account offer?
First Horizon savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does First Horizon savings account charge?
- Outgoing domestic bank transfers come with a $25 fee.
- Incoming domestic bank transfers come with a $15 fee.
- Outgoing international bank transfers come with a $55 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 $15 fee.
- First Horizon savings account charges $2 every time you request a paper statement.
What features and perks does First Horizon savings account offer?
This savings account includes the following features:
- Mobile Banking Services - First Horizon savings account allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to First Horizon savings account?
Yes, you can typically set up a direct deposit to this account. 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 Horizon savings account?
The customer support email for First Horizon savings account is customerservice@firsthorizon.com.
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Hours of Operation
Sunday
Closed
Monday
7:00AM - 10:00PM
Tuesday
7:00AM - 10:00PM
Wednesday
7:00AM - 10:00PM
Thursday
7:00AM - 10:00PM
Friday
7:00AM - 10:00PM
Saturday
8:00AM - 5:00PM