First Mid Bank & Trust Retail Savings

First Mid Bank & Trust Retail Savings Review

First Mid Bank & Trust Retail Savings is offered by First Mid Bank & Trust, a bank founded in 1934 and based in Mattoon, IL. First Mid Bank & Trust Retail Savings are available in 2 states across the USA.

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only .07%.
• Charges a monthly fee. This account charges a monthly service fee of up to $1, but the fee is waived if you keep a minimum balance of $100.
• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.

First Mid Bank & Trust Retail Savings Pros & Cons

First Mid Bank & Trust Retail Savings FAQ

Are savings accounts from First Mid Bank & Trust federally insured?

Yes, your deposits 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.

Does First Mid Bank & Trust offer a signup bonus?

First Mid Bank & Trust Retail Savings doesn't offer a signup bonus.

What is the minimum initial deposit for First Mid Bank & Trust Retail Savings?

What APY does First Mid Bank & Trust Retail Savings offer?

First Mid Bank & Trust Retail Savings offers a variable APY starting at .03% and ranging up to .07% (APY stands for annual percentage yield, rates may change).

What fees does First Mid Bank & Trust Retail Savings charge?

First Mid Bank & Trust Retail 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 $100.

What features and perks does First Mid Bank & Trust Retail Savings offer?

This savings account includes the following features:

• Fraud monitoring - First Mid Bank & Trust Retail 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 Mid Bank & Trust Retail Savings allows you to manage your money online or with a mobile app.

Can you set up a direct deposit to First Mid Bank & Trust Retail Savings?

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 Mid Bank & Trust Retail Savings?

The customer support email for First Mid Bank & Trust Retail Savings is socialmedia@firstmid.com.