First Foundation Bank
Savings Account - 4.90% APY
• The minimum balance to open the Online Savings Account is $1,000; new money only.
• Balance tier amounts and APYs associated with the end-of-day balance for the purpose of paying interest on the Online Savings Account are: $0.01 - $5,000,000.00 - APY 0.60%; $5,000,000.01 or more - APY 0.35%.
• Interest rate is variable and subject to change after account opening. If the balance in the account exceeds $5,000,000.00, the APY will be reduced on the entire account balance. The APY will be reduced on the entire account balance if the amount on deposit for all of your individual and joint Online Savings accounts combined exceed $5,000,000.00.
• Fees may reduce earnings.
• There is no monthly fee.
• If the Online Savings account is closed within 90 days of opening, there will be a $20 fee assessed. If it is closed after longer than 90 days, there is no fee.
Fee and Feature Guide
|
Savings Account |
| Interest Rate |
|
| APY |
4.90% |
| Minimum deposit amount |
$1,000.00 |
| Maximum deposit amount |
N/A |
| Balance Requirements |
|
| Minimum Opening Deposit |
$1,000.00
|
| Minimum Balance to Avoid Fees |
$0.00 |
| Minimum Required Balance |
$0.00 |
| Minimum To Earn |
$0.00 |
| Fees |
|
| Monthly Maintenance Fee |
N/A |
| Foreign ATM Fees |
N/A |
| Insufficient Funds Fee |
$35.00 |
| Incoming Wires |
$10.00 |
| Statements |
|
| Paper Statements |
Yes |
| Online Statements |
Yes |
| Online and Telephone Banking |
|
| Online Banking |
Yes |
| Telephone Banking |
Yes |
| Mobile Banking |
Yes |
| Deposit Checks with Mobile Device |
Yes |
| Free Bill Pay |
Yes |
| Online Bill Payments Required |
Yes |
| Account Opening |
|
| Open Online |
Yes |
| Insured by |
F.D.I.C.
|
Pros
- Consistently competitive savings rates.
- No monthly fees.
- Strong mobile app with full functionality.
Cons
- Bank's own Online Money Market account is currently offering a higher rate.
Recent Rate Changes
|
Date
|
APY
|
|
February 1, 2024 |
4.90%
|
|
November 17, 2023 |
5.00%
|
|
November 17, 2023 |
5.25%
|
Customer Reviews for First Foundation Bank
james
November 18, 2023 |
bank delayed 1-2days to credit into your account, pay less interest.
Is this review helpful? Yes:0 / No: 0
AG
September 26, 2023
Update 9-26-23
I have now used them for several days, and it gets better and better and better. They have every single thing I ever wished for in a bank and then some: Savings with fantastic rates, checking with a perfect bill paying app, easy app for depositing checks, various methods of verification so if for some reason you cannot receive texts or calls you can still get in safely but without spending hours. On top of which, when I called customer service on three different occasions I got someone almost immediately and they extremely pleasantly and efficiently answered my questions.
I think I died and went to heaven. WOW!!!
Original review:
I am ditching Capital One 360 for making my life a living hell over the last month when I tried two very simple tweaks to my account.
Searching for banks online, I found I could get a much better return than theirs as well. First Foundation Bank had all the functionalities I wanted, a savings account with a terrific interest rate, a checking account with bill paying, and the ability to operate without a mobile, if so desired.
So I decided that it would be worth the lengthy application and approval process described in some reviews. Imagine my surprise when I opened two accounts plus added a joint holder and my church as a beneficiary (the two things I tried to accomplish with Capital One to the point of going insane) in exactly three minutes! WOW!!!!
What a joy!
Is this review helpful? Yes:0 / No: 0
Jenin, GA
October 17, 2022 |
I opened the account without reading the reviews and I am glad I did. No troubles and they just raised their rate so it is on top of this list!
Is this review helpful? Yes:2 / No: 1
RRSantis
July 15, 2022 |
I received an email today that the transfer limits are now $100k per transfer, that transfers will take 3 days, and that the limit resets as soon as it settles after 3 days, and that thereafter it is $250k per month. Perhaps this will alleviate the stress that I and others on this board have had with First Foundation. Prior policy and interactions about ridiculously low limits were exasperating and I can still only give it 2 stars based on CSR to date.
Is this review helpful? Yes:1 / No: 0
Py5790
May 26, 2022 |
A good online experience, but external transfer limits are troubling. Pay attention to these and I certainly couldn't get them waived. At $10k a month, it will take me 25 months + plus to wind down an account at $250K.
Is this review helpful? Yes:2 / No: 0
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