Last Updated: 04/18/2025
First Midwest Bank Investor Reserve 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% - 0.03%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $100
Minimum Balance to Earn APY
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 savings account are available in 4 states.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.03%.
- 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 savings account Pros & Cons
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First Midwest Bank savings account 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 savings account has a bonus of $0 .
What is the minimum initial deposit for First Midwest Bank savings account?
The minimum deposit to open a First Midwest Bank savings account 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 Investor Reserve Savings offer?
First Midwest Bank savings account offers a variable 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 savings account charge?
First Midwest Bank savings account 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 savings account 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 savings account 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 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 Midwest Bank savings account?
The customer support email for First Midwest Bank savings account is CustomerCare@FirstMidwest.com.
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