First Foundation is the first bank that doesn’t charge a fee for using your debit card. This will give consumers $5,000 in free money over the next year or so to help them get through those tough times.

The “first foundation bank reviews” is a bank that offers an online savings account. The account offers a high APY of 0.65%.

First Foundation Bank Online Savings Account: 0.65% APY!


[Update January 2021: After keeping the rate on their online savings account at 0.60 percent APY for the whole year of 2021, First Foundation Bank has finally increased the yield to 0.65 percent APY.]

With their online savings account, First Foundation Bank offers a higher-than-average interest.

First Foundation Bank is now giving up to 0.65% APY on new money deposited in their online savings account, which is accessible nationwide.

Below is additional information about First Foundation Bank and their attractive online savings account.


Rick Keller and his Keller Group team launched First Foundation Bank in 1990 to offer wealth management services to individuals and companies in Orange County, California. They set themselves apart by always investing their customers’ money according to fiduciary standards. This is known as the “fee only” method, in which wealth managers charge a set fee regardless of how well they perform on behalf of their clients.

They changed their name to First Foundation Bank in 2008 and extended their product range to include typical banking services as well as trust, legacy planning, consultancy, and insurance.

Checking, money market, CDs, and an online savings account are now among its FDIC-insured products.

The most of these products are accessible to businesses as well, while the online savings account is solely available to individuals.

Online Savings Account with a 0.65% Annual Percentage Yield

Minimum equilibrium APY
$1,000 0.65%

According to FDIC statistics, the current national average for a money market account and 0.06 percent APY for a savings account is merely 0.08 percent and 0.06 percent, respectively.

Account Information:

Minimum deposit and balance requirements: There is a $1,000 Minimum equilibrium requirement to earn the advertised APY and a $1,000 “new money” minimum deposit requirement to open the account.

Potential Fees: There are no monthly maintenance fees or Minimum equilibrium requirements. That said, if for whatever reason you need to withdraw your money and close this account within 90 days of opening it, a $20 fee will be assessed. Also, if you plan on making more than 6 transfers per month please note that a $20 fee will be imposed on the 7th transfer and on each subsequent transfer within the month.

If you reside in one of the three states where they are located, you may establish an account online or in a branch. There are now 20 locations in California, Hawaii, and Nevada. Find one here. You may reach them by phone at 1-888-405-4332.

Funding the account: There are many methods to deposit money into an online savings account:

  • ACH transaction
  • Transfer via wire
  • Check was sent
  • Check deposit using mobile
  • Visiting a branch of First Foundation Bank (available only in Northern California, Southern California, Hawaii and Nevada)

Credit Check: None. To prove your identification, security questions will be created from public databases.

Obtain your funds: You may access your money in the following ways after you’ve established the account:

  • ACH transaction
  • Transfer via wire
  • Requesting a Check was sent
  • Visiting a branch of First Foundation Bank
  • Using the ATM (must first request an ATM card)

This is a variable rate, which means it may change at any moment without warning.

In terms of account features, you can anticipate all of the usual suspects.

If this is going to be one of your key accounts, you should get to know their mobile banking app. This app is available for free on the App Store and Google Play.

You may perform the following when you’ve created an account and downloaded the app:

  • Keep track of your account’s activities. All of your account information is accessible in one place. Check photos and see your transactions, balances, and statements.
  • Online bill payment Transfer money (6 external transfers each month), make payments to people, pay bills, deposit checks, and more.
  • Send money to relatives and friends. Transfers to other First Foundation Bank accounts are unlimited, and you may send money internationally (6 free external transfers per month).
  • Banking that is stress-free with numerous levels of protection. You may bank with confidence since First Foundation Bank uses numerous layers of authentication security.

If you can keep a $1,000 balance or more in your account and want a high income online savings account, First Foundation Bank’s 0.65 percent APY is hard to match.

An ATM card may be obtained with the online savings account, which is a significant benefit. In general, online savings accounts do not come with ATM cards or access.

You’ll also have the option of visiting one of their 20 branch sites if you reside in California, Hawaii, or Nevada.

The “high-yield savings account” is a savings account that offers 0.65% APY! This bank also has no monthly fee and free ATM withdrawals.

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