SuperMoney
  F&M Bank Youth Savings

F&M Bank Youth Savings

in Savings Accounts from F&M Bank · fdic

Unaffiliated

F&M Bank Youth Savings

Unaffiliated

in Savings Accounts from F&M Bank · Member FDIC

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend F&M Bank Youth Savings to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Monthly Fee $0 - $0.67
APY (Annual Percentage Yield) 0.03%
APY Minimum Balance N/A

F&M Bank Youth Savings Review

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

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only .03%.
  • Charges a monthly fee. This account charges a monthly service fee of up to $0.67, but the fee is waived if you keep a minimum balance of $200.
  • Small minimum initial deposit. You only need $5 to open an account.
  • Bill pay. Pay your bills to practically anyone in the United States through F&M Bank.
F&M Bank Youth Savings Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card
  • Access to a nationwide network of ATMs.
  • No signup bonus.
  • Only available in one state.
  • Higher than average wire transfer fees.
  • Monthly service charge.
F&M Bank Youth Savings FAQ

Are savings accounts from F&M Bank federally insured?

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

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

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

The minimum deposit to open a F&M Bank Youth Savings is $5.
F&M Bank Youth Savings Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $200
Minimum Opening Deposit Starting at $5

What APY does F&M Bank offer?

F&M Bank Youth Savings offers an APY of .03% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does F&M Bank Youth Savings charge?

F&M Bank Youth 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 $200.

  • 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 Youth Savings charges a $20 fee for an early account closure. Contact F&M Bank Youth Savings for more details on what is considered an early closure.
  • F&M Bank Youth Savings charges $3 every time you request a paper statement.

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

This savings account includes the following features:

  • Fraud monitoring - F&M Bank Youth 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 Youth 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 Youth 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.

What is the customer support email for F&M Bank Youth Savings?

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

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.

Availability

  Available in 1 state
California
Availabile in all of California

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $200
Minimum Opening Deposit Starting at $5
Bank Teller Fee $0
Early Account Closure $20
Monthly Fee $0 - $0.67
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $30
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $60
Account Features
  • Member FDIC
  • Branch Access
  • Debit Card
  • Free Bill Pay
  • Fraud Monitoring
  • Mobile Banking
  • Nationwide ATM Network
  • Interest Bearing Account
  • Mobile Check Deposit
  • Teen Checking Account
APY (Annual Percentage Yield) 0.03%

Be the first to rate

 

Would you recommend F&M Bank Youth Savings to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

Other Savings Accounts

F&M Bank Savings Accounts

Loading...