Last Updated: 04/18/2025
First Midwest Bank Diamond Savings
Unaffiliated
in Savings Accounts from First Midwest Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.01% - 0.05%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $100
Minimum Balance to Earn APY
N/A
First Midwest Bank Diamond Savings Review
First Midwest Bank Diamond Savings is offered by First Midwest Bank, a bank founded in 1933 and based in Chicago, . First Midwest Bank Diamond Savings are available in 4 states.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
- Charges a monthly fee. This account charges a monthly fee of up to $25, but the fee may be waived if you keep a minimum balance of$1,000.
- $100 minimum opening deposit. This is a typical minimum initial deposit.
First Midwest Bank Diamond Savings Pros & Cons
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First Midwest Bank Diamond Savings FAQ
Are savings accounts from First Midwest Bank federally insured?
Yes, your First Midwest Bank 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 Midwest Bank offer a signup bonus?
First Midwest Bank Diamond Savings has a bonus of $0 .
What is the minimum initial deposit for First Midwest Bank Diamond Savings?
The minimum deposit to open a First Midwest Bank Diamond Savings is $100.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does First Midwest Bank Diamond Savings offer?
First Midwest Bank Diamond Savings offers a variable APY starting at 0.01% and ranging up to 0.05% (APY stands for annual percentage yield, rates may change).
What fees does First Midwest Bank Diamond Savings charge?
First Midwest Bank Diamond 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 $1,000.
- Outgoing domestic bank transfers come with a $30 fee.
- Incoming domestic bank transfers come with a $15 fee.
- Outgoing international bank transfers come with a $50 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.
What features and perks does First Midwest Bank Diamond Savings offer?
This savings account includes the following features:
- Mobile Banking Services - First Midwest Bank Diamond 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 Midwest Bank Diamond 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 Midwest Bank Diamond Savings?
The customer support email for First Midwest Bank Diamond Savings is CustomerCare@FirstMidwest.com.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.