If you are interested in knowing First Bank Savings account requirements, here is a guide to serving you that interest.
To add up, this guide will help you find out what these requirements are, but it also has some pieces of information vital to the First Bank savings account requirements.
First Bank is known for providing outstanding banking services and products to its customers, and due to that, it comes as no surprise that it has earned a place as the first option for many individuals.
To register a savings account with any of its branches will require you to provide the necessary documents required, and once this is done, you can apply for a savings account.
Now let’s find out what the First Bank account requirements are.
First Bank Savings Account Requirements
The following outline the First Bank Savings account requirements:
- Applicants should have a minimum age of 18 years. Any applicant below 18 should have an account-holder of 18 years or more before their application is accepted.
- Submit an original government-issued I.D. Any of these is accepted; driver’s license, passport, national I.D. card, or military I.D.
- Proof of your Social Security number. In the absence of your actual Social Security card, your recent pay stub, W-2, or tax return with your SSN.
- Proof of address. This can include a recent utility bill or a cell phone or internet bill.
- A minimum initial deposit of $100
- Fill out the account opening form.
What Is The Minimum Balance Requirement For First Bank Savings Account
The minimum balance requirement for a First Bank savings account is $25. Account-holders must note that to obtain the Annual Percentage Yield (APY), they must maintain this minimum balance in the account every day.
Savings Account Withdrawal Limit
First Bank savings account does not allow account holders to withdraw all their deposits.
They are always required to maintain the minimum maintaining balance of $25.00.
There is also a set withdrawal frequency of six (6) per calendar month.
Once you withdraw to exceed this amount, you incur a charge of $2.00 per transaction.
Let’s end here on First Bank Savings account requirements.
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