Deposit Services
There’s no better place to grow wealth than with one of our many deposit solutions. Each one is backed with the security of the FDIC and designed to keep your finances accessible as your investments develop.
Deposit Account Options
Below is a list of our current deposit accounts. Select one of the items below to be taken to a complete description.
Deposit Products and Resources
Traditional Checking
First Bank & Trust’s traditional checking account provides all the features that you’d expect in a checking account. As long as your account meets the balance requirements, there are no fees for transactions or monthly maintenance.
Opening Deposit – A minimum of $100.00 is required to open a traditional checking account.
Account Fees – There are no monthly maintenance or transaction fees if your account maintains a $300.00 daily ledger balance. If your account balance falls below these requirements, there is a monthly fee of $5.00, and each check or debit transaction is $0.10 each. If your account is overdrawn, you’ll be assessed the overdrawn balance at the rate of eighteen percent (18%) a year.
Traditional Savings
Our Savings Account provides you with a way to easily deposit your funds into an interest-bearing account.
Rate Information: This Account is an interest-bearing account. The interest rate and annual percentage yield are included in the Rate Chart. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Interest will be compounded quarterly and will be credited to the account quarterly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. We will use an interest accrual basis of 365 (or 366 in leap year) for each day in the year. You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.
Opening Deposit: You must deposit $100.00 to open this account. You may make six (6) transfers from your account each quarter.
Account Fees: There is no quarterly maintenance fee if the account maintains a $100.00 average quarterly ledger balance. If the account falls below the balance requirements, the quarterly maintenance fee is $5.00. Each additional transfer over the ten (10) allowed is $1.00 each.
The BanClub Checking
For personal accounts only, our BanClub Checking Account provides all the traditional checking account features you’d expect with unlimited checking, $10,000 accidental death insurance, savers club discount book, emergency cash service, credit card protection service, lost key return service, semi-annual newsletter, membership card, and your first order of special member personalized checks.
Opening Deposit: A minimum of $100.00 is required to open this account.
Account Fees: There is a monthly maintenance fee of $5.00. If the account is overdrawn, interest will be assessed against the overdrawn balance at the rate of eighteen percent (18%) per year.
NOW Account
The NOW account provides traditional checking account features along with competitive market interest rates to help your money grow while it’s in the bank. There are no monthly maintenance or transaction fees as long as the account meets the balance requirements.
Rate Information: Our NOW account is an interest-bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. We will use an interest accrual basis of 365 (or 366 in leap year) for each day in the year. You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Opening Deposit: A minimum of $1,000.00 is required to open this account.
Account Fees: There are no monthly maintenance or transaction fees if the account maintains either a $1,000 minimum daily ledger balance, or a $2,500 average daily ledger balance. If the account falls below the balance requirements, the monthly maintenance fee is $5.00, and each check or other debit is $0.10 each. If the account is overdrawn, interest will be assessed against the overdrawn balance at the rate of eighteen percent (18%) per year.
Money Market Checking
This account provides the best features of both our Interest Checking account and a traditional Certificate of Deposit. This account gives you check-writing abilities with the benefit of higher interest rates. There is no monthly maintenance fee as long as the account meets the balance requirements.
Rate Information: This Account is an interest-bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. We will use an interest accrual basis of 365 (or 366 in leap year) for each day in the year. You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield.
Opening Deposit: A minimum of $2,500.00 is required to this account. You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
Account Fees: There is no monthly maintenance fee if the account maintains a $2,500.00 minimum daily ledger balance. If the account falls below the balance requirements, the monthly maintenance fee is $5.00, and each check or debit is $0.10 each. If the account is overdrawn, interest will be assessed against the overdrawn balance at the rate of eighteen percent (18%) per year.
Certificates of Deposit
Put your money to work without fear or risk. Our Certificates of Deposit (CDs) give you the ability to invest safely. With competitive rates of return and deposit amounts that are convenient for all types of investors, there’s no reason that your money should ever just sit in the bank. Call one of our bankers today and see what option could work for you.
- Minimum Opening Balance: $1,000
- Current Rates
- Specials
Debit Cards
Is your debit card lost or stolen? Immediately call (806) 259-3556, after hours call (844) 202-5333.
Debit Card Security
Card Sentry reviews your activity for any unusual transactions. If unusual activity is detected a fraud analyst may contact you to verify the transaction. They will never ask for full card numbers, account information or social security numbers. They will merely ask to speak with the cardholder, identify the transaction(s) in question and ask you to confirm if they are valid or not.
Additional Debit Services:
Card Alerts – Notifies you by email and/or text message of recent transactions. Notification of recent transactions will automatically generate an email and/or text message for your review. To take full advantage of this service, enroll today.
Card On/Off – Allows you to manually turn your debit card on or off via Internet Banking. For additional security a link has been created on your Internet Banking page that allows you to manually turn your card on and off, giving you instant control of your card management.
For additional security a link has been created on your Internet Banking page that allows you to manually turn your card on and off, giving you instant control of your card management
Reorder Checks
Safe Deposit Boxes
Need a safe place to keep your valuables?
We proudly offer safe deposit boxes of all shapes and sizes to fit your needs. These boxes are available for rent at our Memphis location. Please call for current pricing.
Member FDIC
Account Applications
Send Your Deposit Documents
Email:
newaccounts@firstmemphis.com
To send documents containing sensitive information, please use our secure portal link to send your documents in order to ensure protection of your private information.
- (Note: First time users will need to create an account before they can send documents)
Fees & Services
Account Printout:
No Charge
Account Research:
$10.00/hour plus $1.00/paper copy plus $1.00 microfilm copy
($10.00 minimum)
ATM/Debit Cards:
FREE/$0.00 Initial Card Issuance
FREE/$0.00 Monthly Fee Issued Upon Approval
No additional charge from First Bank & Trust when used for purchases
Cashiers Checks:
BanClub – No Charge
Bank and Non-Customer - $2.00 Per Check
Chargebacks:
$2.00/item
Collection Items:
Incoming: No Charge Outgoing: $25.00
No Charge Copies of Checks: DDA Customers - $0.50 each ($10 Min.)
Debit Card Replacement:
$5.00 Per Card
Deposit Bags:
No Charge
Faxes:
$1.00 Per Page
Garnishment:
$25.00 per account
Insufficient Funds:
Paid or Returned: $20.00 per item
Money Orders:
No Charge
Mortgage Verification of Deposit:
No Charge
Notary Services:
No Charge
Photocopy:
$0.20 Per Page
Special Statement:
All Customers - $2.00 Per Page ($10 Min.)
Stop Payment:
$10.00/check
Telephone Transfer:
No Charge
Wire Transfers:
$15.00 charge for all wires within the United States
$15.00 charge for incoming international wires
