F&M Bank Market Rate Savings

F&M Bank Market Rate Savings Review

F&M Bank Market Rate Savings is offered by F&M Bank savings account, a bank founded in 1907 and based in Long Beach, CA. F&M Bank Market Rate Savings are available in 1 state across the USA.

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only .05%.
• Charges a monthly fee. This account charges a monthly service fee of up to $3.30.
• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.

F&M Bank Market Rate Savings Pros & Cons

F&M Bank Market Rate Savings FAQ

Are savings accounts from F&M Bank federally insured?

Yes, your deposits 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 F&M Bank offer a signup bonus?

F&M Bank Market Rate Savings doesn't offer a signup bonus.

What is the minimum initial deposit for F&M Bank Market Rate Savings?

What APY does F&M Bank Market Rate Savings offer?

F&M Bank Market Rate Savings offers a variable APY starting at .03% and ranging up to .05% (APY stands for annual percentage yield, rates may change).

What fees does F&M Bank Market Rate Savings charge?

F&M Bank Market Rate Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

Avoid the monthly fees by setting up a direct deposit of at least $500.

• Outgoing domestic bank transfers come with a $30 fee.
• Incoming domestic bank transfers come with a $10 fee.
• Outgoing international bank transfers come with a $60 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 $10 fee.
• F&M Bank Market Rate Savings charges a $20 fee for an early account closure. Contact F&M Bank Market Rate Savings for more details on what is considered an early closure.
• F&M Bank Market Rate Savings charges $3 every time you request a paper statement.

What features and perks does F&M Bank Market Rate Savings offer?

This savings account includes the following features:

• Fraud monitoring - F&M Bank Market Rate 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.
• Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - F&M Bank Market Rate Savings 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.
• Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to F&M Bank Market Rate 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 F&M Bank Market Rate Savings?

The customer support email for F&M Bank Market Rate Savings is rcs@fmb.com.