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  First Midwest Bank Investor Reserve Savings

First Midwest Bank Investor Reserve Savings

in Savings Accounts from First Midwest Bank · Member fdic

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First Midwest Bank Investor Reserve Savings

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in Savings Accounts from First Midwest Bank · Member FDIC

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Highlights
Monthly Fee $0 - $25
APY (Annual Percentage Yield) 0.01% - 0.03%
APY Minimum Balance N/A

First Midwest Bank Investor Reserve Savings Review

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

First Midwest Bank Investor Reserve 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 Investor Reserve Savings has a signup bonus of $0.

What is the minimum initial deposit for First Midwest Bank Investor Reserve Savings?

The minimum deposit to open a First Midwest Bank Investor Reserve Savings is $100.
First Midwest Bank Investor Reserve Savings Minimums
Description
Minimum Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $100

What APY does First Midwest Bank offer?

First Midwest Bank Investor Reserve Savings offers an APY starting at 0.01% and ranging up to 0.03% (APY stands for annual percentage yield, rates may change).

What fees does First Midwest Bank Investor Reserve Savings charge?

First Midwest Bank Investor Reserve 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 Investor Reserve Savings offer?

This savings account includes the following features:

  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - First Midwest Bank Investor Reserve 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 Investor Reserve 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.

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Availability

  Available in 4 states
  • Illinois
  • Indiana
  • Iowa
  • Wisconsin

Feature Breakdown

Minimum Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $100
Monthly Fee $0 - $25
Returned Deposit Fee (Domestic) $37
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $50
Bank Account Features
  • Branch Access
  • Debit Card
  • Free Bill Pay
  • Interest Bearing Account
  • Mobile Banking
  • Nationwide ATM Network
APY (Annual Percentage Yield) 0.01% - 0.03%

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