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  First Republic Bank Passbook Savings Account

First Republic Bank Passbook Savings Account

in Savings Accounts from First Republic Bank · fdic

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First Republic Bank Passbook Savings Account

Unaffiliated

in Savings Accounts from First Republic Bank · Member FDIC

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Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.05% - 0.25%
APY Minimum Balance $0.01

First Republic Bank Passbook Savings Account Review

First Republic Bank Passbook Savings Account is offered by First Republic Bank, a bank founded in 1985 and based in San Francisco, CA. First Republic Bank Passbook Savings Account is available in 6 states across the USA.

Key Takeaways
  • Higher than average APY. First Republic Bank Passbook Savings Account has an annual percentage yield of up to 0.25%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $0.01.
  • $0 monthly fee. This account does not charge a monthly Service Charge as long as you keep a minimum balance of $500.
  • $500 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • Bill pay. Pay your bills to practically anyone in the United States through First Republic Bank.
First Republic savings account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in 6 states.
  • Higher than average wire transfer fees.
First Republic savings account FAQ

Are savings accounts from First Republic Bank federally insured?

Yes, your First Republic 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 Republic Bank offer a signup bonus?

First Republic savings account doesn't offer a signup bonus.

What is the minimum initial deposit for First Republic savings account?

The minimum deposit to open a First Republic savings account is $500.
First Republic Bank Passbook Savings Account Minimums
Description
APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee Starting at $500
Minimum Opening Deposit Starting at $500

What APY does First Republic Bank offer?

First Republic savings account offers an APY starting at 0.05% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change).

What fees does First Republic savings account charge?

First Republic 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 $500.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Outgoing international bank transfers come with a $30 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • First Republic savings account charges $10 every time you request a paper statement.

What features and perks does First Republic savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - First Republic savings account 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.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - First Republic savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to First Republic savings account?

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.

What is the customer support email for First Republic savings account?

The customer support email for First Republic savings account is info@firstrepublic.com.

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Availability

  Available in 6 states
  • California
  • Connecticut
  • Florida
  • Massachusetts
  • New York
  • Oregon

Feature Breakdown

APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee Starting at $500
Minimum Opening Deposit Starting at $500
Monthly Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Paper Statement Fee $10
Returned Deposit Fee (Domestic) $10
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Outgoing) $30
Bauer Financial A+/A Rating
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Member FDIC
APY (Annual Percentage Yield) 0.05% - 0.25%

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