Looking for a simple bank for a no-frills checking and savings account? While you won’t find the best interest rates, you can enjoy 24/7 customer service and get a wide variety of benefits when opening an account. To find out if FirstBank is right for you, continue reading this review below.
FirstBank offers a wide array of online banking accounts from a Health Savings Account to even Money Market accounts that combine both checking and savings. Keep track of your account with online and mobile banking and free your debit card if you see any suspicious activity.
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 Time Deposit Account Options
- 6 Money Market Account Options
- 7 Compare Money Market Accounts
- 8 Reasons To Bank with FirstBank
- 9 Reasons Not To Bank with FirstBank
- 10 FirstBank Routing Number
- 11 Contact Customer Service
- 12 How FirstBank Compares
- 13 Bottom Line
Checking Account Options
With each FirstBank checking account option, it includes online and mobile banking. Some accounts combine checking and savings as well.
This account requires no minimum balance and no monthly fee. Easily manage your money via the mobile app.
This account is a combination of a checking and savings account, and includes the FirstBank Visa Debit Card.
Enjoy the ability to set up automatic deposits into your savings account every time you use your Visa debit card or pay a bill.
Have at least $2,500 in your checking account or receive a monthly deposit of at least $1,000 in one year to get the fee waived.
You then can earn interest on your balance and have the standard annual fee for your FirstBank Visa debit card waived.
Customers 55 or older can enjoy no monthly fees. Although in order to keep your interest, you must keep a daily balance of $500 or more.
Compare Checking Accounts
Savings Account Options
FirstBank offers a few selection of savings accounts, but there are benefits that can help waive the monthly fees.
Keep a $100 daily minimum balance to earn interest and waive the service fee.
This account is great for those who need to put away a large amount of cash while earning interests.
They offer higher interest rates but you must meet the $20,000 average daily balance to avoid the monthly service charge.
Compare Savings Accounts
With the American Express® High Yield Savings Account:
• Earn 3.30% APY as of 12/22/22 on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• 24/7 Account Access
With the CIT Bank Savings Builders account:
• Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster.
• Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
• FDIC Insured
Open a Discover Online Savings Account for all these features:
• Earn $200/$150 Bonus with promo code HMB323 by 03/15/2023
• Earn high interest rate of 3.30% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
• See advertiser website for full details
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB323 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 3/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.
Time Deposit Account Options
Time Deposit accounts from FirstBank function as a savings account that allows you tie up your money for a certain period of time.
You can earn even higher interest when you open one of these accounts.
The account will need a $100 minimum balance and lets you tie up your money for 91 days to 2 years to earn interest.
You can make deposits during you term and it will not affect your maturity date.
You’ll need a minimum of $500 for this Time Deposit account, which you cannot continually add to – you leave your money for the specified term and earn a fixed rate of interest.
The terms range from 91 days to 5 years.
This account requires at least a $10,000 balance, but offers a higher interest rate with terms from 91 days to 5 years.
This is another single deposit timed account, but with larger minimum balance requirements.
This account doesn’t have a service charge.
Money Market Account Options
Normally, Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
However, with FirstBank, they have a separate checking and savings account that both function as a money market account instead.
This allows you to earn much higher interest rates while still having the benefits that normal checking and savings accounts have.
This account requires $500 to open and there is a $500 minimum balance requirement to meet.
If you open this kind of account, you can earn a higher interest rate.
Keep a $1,000 average daily balance to earn “money market interest rates” and avoid the monthly fees.
Compare Money Market Accounts
• Earn 0.25% APY with the Axos Bank High Yield Money Market
• FDIC Insured
• Check writing privileges
• No monthly maintenance fees
• No minimum balance requirements
• Debit card transactions
• Minimum Balance Required to Open the Account: $ 1000.00
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 3.25% APY balances $100,000 and over
• Earn 3.20% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 1.55% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
Reasons To Bank with FirstBank
- Enjoy online banking and do many of the standard banking tasks from home. You can pay bills, set up account alerts, and view your statements, all in the online portal.
- The FirstBank Mobile app allows you to do many of the same transactions you can do online, but while on the go.
- Open a Health Savings Account if you have a High Deductible Health Insurance Plan, the HSA can help you cover your out-of-pocket expenses with tax advantages. There is no minimum balance required, but you will pay an annual fee for the account.
- Open a Smart Choice College Savings Plan. Otherwise known as a 529 plan, you don’t need a minimum balance and you won’t pay a monthly service fee. You can opt for a money market savings account or a 1-year timed deposit to earn the most interest on your money to help you pay for college.
- Get IRA accounts to help you save for retirement. They offer a variety of accounts for both traditional and Roth IRA options.
- Open many of the FirstBank deposit accounts online.
- Customer service representatives are available 24/7. Reach them at 1-(800)-964-3444 any time of day or night to get answers to your important banking questions.
- You can view your account balances in the mobile app without logging into it, in case you’re in a hurry and just want to see your account balance. You can also see a quick summary of any upcoming bills.
- Freeze your Visa Debit card in the mobile app. If you think your card was lost or stolen, simply set your card management to freeze the account. Once you find your card, you can unfreeze it. If you don’t find it and think it’s been stolen, you can also report it stolen in the app.
- You can set up automatic payments to set your bills up. This way, you can avoid paying your bills late, even with the reminders that FirstBank’s mobile app can send. The bills are paid on the debt you request, requiring you to set the payment up once and forget it.
Reasons Not To Bank with FirstBank
- FirstBank charges for the FirstBank Visa Debit card. The Visa Debit card that comes with many of FirstBank’s accounts carries a $10 annual charge per card. Many other banks offer the card free of charge.
- FirstBank is located in only 3 states.
- FirstBank charges customers for Overdraft Protection. It’s a nominal annual fee, but many other banks offer the service free of charge. They usually charge per transfer, which is standard for most banks, FirstBank included, but the additional annual charge adds to your costs and may be unnecessary.
FirstBank Routing Number
The main routing number is 107005047. To find this routing number, you can simply check the bottom left corner of your checks – check to see if this number differs.
Contact Customer Service
Reach FirstBank’s Customer Service at 1-800-964-3444. Reps are available 24/7, 7 days a week.
How FirstBank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- CitiBank: Citibank also combines their checking and savings accounts but offer them in tiered packages instead. Although they have many branches and ATMs throughout the U.S, their service fees and balance requirements are on the high side.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
- US Bank: They have approximately 5,000 ATMs locations throughout 25 states. Enjoy 24/7 customer service and mobile banking.
- Banco Popular: They offer basic checking and savings accounts in the East coast. They had options for students in high school and college.
FirstBank is unique in the fact that they have a variety of different checking and savings accounts. They tend to combine these accounts to function as money market accounts so that their customers can earn higher interest rates.
Their requirements for opening deposits or minimum balances aren’t too outrageous or difficult either.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If FirstBank has the variety and options you’re looking for, apply today! If you’re interested in banking with FirstBank, then see our list of the latest FirstBank bank bonuses! For more options from a variety of banks, see our list of the best bank promotions!