-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
4.0
-
Bank Fees:
3.0
Pros:
- Checking account for 55 and older
- Anywhere Accounts
- Business accounts offered
- Variety of personal products offered
Cons:
- Accounts have fees
- Online banking is not free
- Accounts not offered everywhere
- Low-interest rates
-
Financial Rates:
4.5
-
Customer Service:
4.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- No monthly fees or required balances
- Personal deposit accounts offered
- Can open all accounts online
- Competitive interest rates on accounts
Cons:
- Only personal deposit accounts
- Not wide variety of accounts
- Outgoing wires have a high fee
- MMA has high opening balance and fee
FirstBank offers a checking account for anyone over 55 years old. This account earns interest. There is no minimum balance to earn interest or required to keep in the account. This account does not have any fees, and direct deposit is not required.
The Anywhere Accounts are a savings and checking account. Both of these accounts do not have monthly fees. There is no minimum balance required to keep in the account. You can sign up to have money from transactions rounded up to the nearest dollar. The difference is deposited into your Anywhere eSave Savings account. Those transactions include debit transactions, bill pay, or other electronic transfers.
FirstBank offers accounts for businesses. Checking and money market accounts are available. There is a checking account offered specifically for nonprofits. There are no fees for the nonprofit checking and the basic business checking. The other accounts have a monthly fee.
Not just personal deposit accounts are available at FirstBank. Personal credit cards, home equity loans, and personal construction loans are available. Health Savings Accounts and accounts to help save for college are also offered.
Most FirstBank accounts have a monthly fee. The fees range from $5 to $20. The debit card has a yearly fee of $10. You are only allowed 25 deposits into the eSave Savings account per month. You are charged $0.10 for each item over 25.
Account interest rates at FirstBank are not competitive with other online banks. The interest rates are similar to your typical bank rates.
FirstBank offers products and accounts in Arizona, California, and Colorado. They have over 115 branch locations in these three states with over 200 ATMs. To open an account, you must live in one of these three states.
Online banking with FirstBank is only free if you sign up to receive electronic statements. The fee is $3 each month if you do not sign up. The money will be automatically withdrawn from your checking account on the first day of each month. If you want to receive paper statements, you must keep $10,000 in FirstBank accounts to waive the monthly fee.
Most Discover online bank accounts do not have monthly fees. They also do not have required balances to keep in the accounts. The online checking account, savings accounts, and CDs do not have a monthly fee. They are completely free. Only the money market account has a fee if your balance falls below $2,500.
Personal deposit accounts are available through Discover. They offer online savings, money market, and checking accounts. Their CDs range in terms from three months to ten years. Discover offers IRA CD terms as well as regular CDs.
These Discover accounts are entirely online accounts. Open the savings, money market accounts, and CDs online or by calling customer service. The checking account can only be opened online. Everything for these accounts is done online.
Discover accounts offer competitive interest rates. The rates for every account are much higher than your typical brick and mortar bank rates. The rates are competitive with other online accounts. The only account that has tiered interest rates is the money market account. The difference between the two-tiered rates is very small. Balances over $100,000 in the money market account earn a slightly higher rate. All balances earn competitive rates.
Discover Bank offers only personal deposit accounts. Those accounts include a savings, checking, and money market account, as well as CDs. Discover Bank does not offer any business accounts.
There is not a wide variety of personal deposit accounts offered through Discover. Discover offers one savings, one money market, and one checking account. No business accounts are available. CD terms range from three months to ten years.
One way to access your money in your Discover accounts is through a wire transfer. There is a fee to complete each wire. That fee is $30 for each outgoing wire sent from your Discover account. There is not a fee for domestic wire transfers received into Discover accounts. There may be a $20 fee for wire transfers received in a foreign currency.
The Discover money market account has a high opening required amount. That account requires $2,500 to open. There is a monthly fee of $10. Waive that fee by keeping $2,500 in the money market account.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.