Need That Money

Navigating Fees: A Close Look at First Midwest Bank and Its Competitors

First Midwest Bank: An Overview of Accounts and Services

When it comes to choosing a bank, there are many factors to consider, from location to fees and available services. One bank that may be worth considering is First Midwest Bank, which has been serving customers for over 80 years.

In this article, we will provide an overview of this bank, including its history and location, as well as the available accounts and services.

History and Location

First Midwest Bank was founded in 1933 in Joliet, Illinois, and has since expanded to serve customers in Illinois, Iowa, Wisconsin, and Indiana. Today, it has over 100 branches, as well as online and mobile banking options, to make banking more convenient for its customers.

Available Accounts and Services

First Midwest Bank offers a variety of accounts and services to meet the needs of its customers. Here is a closer look at some of the available options:

Checking Accounts

First Midwest Bank offers several different checking account options, including:

– Diamond Checking: This account is designed for customers who maintain higher balances and offers benefits such as free checks, unlimited ATM fee reimbursements, and premium interest rates. – Midwest Checking: This account is a more traditional checking account and offers features such as free online banking and bill pay, as well as a debit card with rewards.

– Easy Checking: This account is designed for customers who want a simple, low-cost checking account with no minimum balance requirements. – Youth Savings Account: First Midwest Bank also offers a savings account specifically designed for young people, which can help teach personal finance skills and provides educational resources to help them learn financial literacy.

Fees and Minimum Requirements

When considering a bank, it is important to take into account fees and minimum requirements. Here is a breakdown of some of the fees and minimums associated with First Midwest Bank accounts:

– Monthly Fees: Monthly fees vary depending on the specific account, but some accounts may have fees that can be waived by meeting certain requirements, such as maintaining a minimum balance or making a certain number of transactions.

– Account Minimums: Some accounts may have minimum balance requirements in order to avoid fees or gain access to certain benefits. These requirements can also vary depending on the specific account.

– Overdraft Protection: First Midwest Bank offers overdraft protection, but it comes with a fee. Customers can choose to link a savings account or credit card to their checking account to avoid overdraft fees, but there may still be a fee for using this protection.

– ATM Fees: First Midwest Bank provides customers with access to a large network of ATMs, but it is important to be aware of any fees associated with using out-of-network ATMs.

Loans, Investments, and More

In addition to checking and savings accounts, First Midwest Bank offers a range of other financial services, including loans, investments, money market accounts, and certificates of deposit. Here is a closer look at some of these options:

– Loans: First Midwest Bank offers a variety of loans, including personal loans, auto loans, and home equity loans.

– Investments: First Midwest Bank offers investment management services, as well as access to investment products such as stocks and bonds. –

Money Market Accounts: These accounts typically offer higher interest rates than traditional savings accounts, but with some limitations on withdrawals.

– Certificates of Deposit: These accounts offer fixed interest rates over a fixed term, typically ranging from six months to five years.

Conclusion

Overall, First Midwest Bank offers a variety of accounts and services to meet the needs of its customers. Whether you are looking for a high-value checking account or a way to invest your money, First Midwest Bank has options available.

However, it is important to carefully consider fees and minimum requirements when deciding which account to open. By taking the time to research and compare your options, you can find the bank and account that best meets your needs.

First Midwest Bank: A Closer Look at Savings and

Money Market Accounts

In our previous article, we gave an overview of First Midwest Bank, including its history, location, and available accounts and services. In this article, we will dive deeper into two specific types of accounts: savings accounts and money market accounts.

We will provide an in-depth look at the account options and features, as well as any associated fees and minimum requirements.

First Midwest Bank Savings Accounts

First Midwest Bank offers several different savings account options. Here is a closer look at each one:

Statement Savings

The

Statement Savings account is designed for customers who want a simple, low-cost savings account. It requires a minimum opening deposit of $100 and offers a competitive APY.

There is a monthly fee, but it can be waived if the account holder maintains a minimum balance.

Investor Reserve Savings

The

Investor Reserve Savings account is designed for customers who want to earn a higher interest rate on their savings. It requires a minimum opening deposit of $10,000 and offers a tiered APY based on the account balance.

There is a monthly fee, but it can be waived if the account holder maintains a minimum balance.

Diamond Savings

The

Diamond Savings account is designed for customers who want to earn a high interest rate and have access to additional benefits such as free checks and no foreign transaction fees. It requires a minimum opening deposit of $10,000 and offers a tiered APY based on the account balance.

There is a monthly fee, but it can be waived if the account holder maintains a minimum balance.

Health Savings Account

The

Health Savings Account (HSA) is designed for customers who have a high deductible health plan. It allows for tax-deductible contributions and tax-free withdrawals for qualified medical expenses.

There are no monthly fees or minimum balance requirements, and any unused funds can roll over from year to year.

Fees and Minimum Requirements

When considering a savings account, it is important to take into account the associated fees and minimum requirements. Here is a breakdown of some of the fees and minimums associated with First Midwest Bank savings accounts:

– Monthly Fees: Monthly fees vary depending on the specific account, but some accounts may have fees that can be waived by meeting certain requirements, such as maintaining a minimum balance or making a certain number of transactions.

– Account Minimums: Some accounts may have minimum balance requirements in order to avoid fees or gain access to certain benefits. These requirements can also vary depending on the specific account.

– APYs: APYs, or Annual Percentage Yields, can vary based on the account balance and account type. It is important to compare APYs when choosing a savings account to find the best rate.

– Excess Withdrawal Fee: Savings accounts are subject to federal withdrawal limits, which means there may be a fee for any withdrawals exceeding the limit.

First Midwest Bank

Money Market Accounts

In addition to savings accounts, First Midwest Bank also offers money market accounts. Here is a closer look at each one:

Money Market

The

Money Market account is designed for customers who want to earn a higher interest rate on their savings while still maintaining liquidity. It requires a minimum opening deposit of $1,000 and offers a tiered APY based on the account balance.

There is a monthly fee, but it can be waived if the account holder maintains a minimum balance. Premier

Money Market

The Premier

Money Market account is designed for customers who want to earn a higher interest rate on their savings and have access to additional benefits such as discounted safe deposit boxes.

It requires a minimum opening deposit of $25,000 and offers a tiered APY based on the account balance. There is a monthly fee, but it can be waived if the account holder maintains a minimum balance.

Diamond

Money Market

The Diamond

Money Market account is designed for customers who want to earn a high interest rate and have access to additional benefits such as free checks and no foreign transaction fees. It requires a minimum opening deposit of $100,000 and offers a tiered APY based on the account balance.

There is a monthly fee, but it can be waived if the account holder maintains a minimum balance.

Fees and Minimum Requirements

When considering a money market account, it is important to take into account the associated fees and minimum requirements. Here is a breakdown of some of the fees and minimums associated with First Midwest Bank money market accounts:

– Monthly Fees: Monthly fees vary depending on the specific account, but some accounts may have fees that can be waived by meeting certain requirements, such as maintaining a minimum balance or making a certain number of transactions.

– Account Minimums: Some accounts may have minimum balance requirements in order to avoid fees or gain access to certain benefits. These requirements can also vary depending on the specific account.

– APYs: APYs can vary based on the account balance and account type. It is important to compare APYs when choosing a money market account to find the best rate.

– Excess Withdrawal Fee: Money market accounts are subject to federal withdrawal limits, which means there may be a fee for any withdrawals exceeding the limit.

Conclusion

First Midwest Bank offers a variety of savings and money market account options to meet the needs of its customers. Whether you are looking for a simple savings account or a high-interest money market account, First Midwest Bank has options available.

However, it is important to carefully consider fees and minimum requirements when deciding which account to open. By taking the time to research and compare your options, you can find the account that best meets your needs.

First Midwest Bank: A Comprehensive Look at CD Accounts and Banking Experience

In our previous articles, we provided an overview of First Midwest Bank’s history, location, accounts, and services, as well as a closer look at savings and money market accounts. In this article, we will dive deeper into two additional topics: CD accounts and the banking experience.

We will provide an in-depth look at the account options and features, as well as the physical and digital banking experience.

First Midwest Bank CD Accounts

First Midwest Bank offers standard CD accounts with a variety of terms and interest rates to help customers grow their savings. Here is a closer look at CD accounts:

Standard CDs

Standard CDs offer fixed interest rates for a set period of time, which can range from three months up to five years. The longer the term, the higher the interest rate.

At the end of the term, the CD automatically renews unless the account holder chooses to withdraw the funds. There is a penalty for early withdrawal, which varies depending on the length of the term.

Fees and Minimum Requirements

Here is a breakdown of fees and minimum requirements associated with First Midwest Bank CD accounts:

– Minimum Deposit: The minimum deposit required to open a CD account varies depending on the specific term. – APYs: APYs can vary based on the length of the term and the amount deposited.

– Larger Deposits: Customers who deposit larger amounts may be eligible for higher interest rates. Banking Experience: Physical Branch Locations

First Midwest Bank has over 100 branches located throughout Illinois, Wisconsin, Iowa, and Indiana, with a concentration in the metropolitan Chicago area.

In addition to traditional banking services, some branches also offer investment management and lending services. Customers can visit a branch to open accounts, deposit or withdraw funds, and receive assistance from a banking professional.

Banking Experience: Mobile and Digital

First Midwest Bank also offers a mobile and digital banking experience to help customers manage their accounts on-the-go. Here is a closer look at some of the bank’s mobile and digital features:

Mobile Apps

First Midwest Bank has mobile apps available for download on both Google Play and the App Store. These apps allow customers to check account balances, transfer funds, pay bills, and deposit checks from their mobile device.

Online Banking

In addition to mobile apps, First Midwest Bank also offers online banking through its website. Customers can log in to their accounts to view transactions, schedule payments, and manage their account settings.

Account Management

First Midwest Bank’s digital banking features allow customers to manage their accounts on their own terms. They can set up alerts for account activity, view statements electronically, and even set up budgeting and saving goals.

Conclusion

First Midwest Bank is a full-service bank that offers a variety of accounts, including savings, money market, and CD accounts. The bank also provides a physical and digital banking experience with over 100 branches and mobile and online banking options.

By taking advantage of these different features, customers can manage their finances in a way that meets their needs and lifestyle. First Midwest Bank: Opening an Account and

Customer Service

In our previous articles, we provided an overview of First Midwest Bank’s history, location, and several types of accounts and services.

In this article, we will provide an in-depth look at the account opening process, including requirements and limitations, as well as customer service options.

How to Open an Account

To open an account at First Midwest Bank, customers will need to provide personal information, a Social Security number, and a driver’s license or other form of government-issued identification. In addition, some accounts may require an opening deposit.

Here is a breakdown of the account opening process and requirements at First Midwest Bank:

Account Opening Process

1. Choose the account type that best meets your needs.

2. Gather the necessary personal information and identification.

3. Determine the opening deposit requirements for the account.

4. Visit a branch location or open an account online or through the mobile app.

5. Provide all necessary information and make the opening deposit.

Limitations on Number of Accounts

Customers are limited to holding up to five accounts at a time with First Midwest Bank. This includes checking, savings, money market, and CD accounts.

Customer Service

First Midwest Bank offers several options for customer service, including in-person assistance at branch locations, online banking, and mobile support. Here is a closer look at some of these options:

Contact Information and Hours

Customers can contact First Midwest Bank’s customer service team by phone or email. Hours of operation for customer service are Monday through Friday, 7:00am to 7:00pm and Saturday, 8:00am to 2:00pm Central Time.

In-person assistance is available at branch locations during regular business hours.

Loan Payments

Customers can make loan payments online or through the mobile app, as well as at branch locations by check or cash.

Online Banking

First Midwest Bank offers online banking options to help customers manage their accounts from anywhere. Customers can log in to their accounts to view transactions, pay bills, and transfer funds.

Mobile Support

In addition to online banking, First Midwest Bank offers a mobile app for customers, which allows them to manage their accounts from their mobile device. The app includes features such as mobile check deposit, bill pay, and transfers.

Routing Number

First Midwest Bank’s routing number is 071901604, which is used for domestic wire transfers, direct deposits, and other electronic transactions.

Conclusion

Opening an account at First Midwest Bank is a simple and straightforward process. By gathering the necessary information and identification, customers can open an account in-person at a branch location or online.

First Midwest Bank also offers a variety of customer service options, including phone and email support, online banking, and mobile support. By taking advantage of these options, customers can better manage their accounts and finances with First Midwest Bank.

First Midwest Bank: Fees, Comparison to Competitors

In this article, we will take a closer look at the fees associated with First Midwest Bank, as well as a comparison of the bank to its competitors. Knowing the fees and costs associated with a bank is important for customers to make informed decisions about where to hold their accounts.

First Midwest Bank Fees

First Midwest Bank charges a variety of fees, which can vary depending on the specific account and transaction type. Here is an overview of

Popular Posts