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first midwest bank online check deposit

The Mobile Banking Services, including Text Messaging and Remote Deposit Service, ("Mobile Banking Services") are provided to you by First Midwest Bank. Mobile Check Deposit Limits: You can now deposit up to $10,000 in total deposits in one Business Day with no limits on the number of checks through Mobile. To sign up for Mobile Deposit you must have Online Banking and the to click on Mobile Deposit within the Mobile Banking App. The first.

: First midwest bank online check deposit

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First Midwest Mobile

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Start banking wherever you are with First Midwest Mobile

Start banking wherever you are with First Midwest Mobile

by First Midwest Bank

First Midwest Mobile
First Midwest Mobile
First Midwest Mobile

What is it about?

Start banking wherever you are with First Midwest Mobile! Available to all First Midwest Bank online banking customers. First Midwest Mobile allows you to check balances, make transfers, pay bills, make deposits and find locations. Need to find a Branch or ATM closest to you? With Find Near Me, First Midwest Mobile will discover your location and provide you with addresses and phone numbers on the fly.

First Midwest Mobile

App Details

Last updated

August 24, 2021

Release date

April 15, 2013

App Store Description

Start banking wherever you are with First Midwest Mobile! Available to all First Midwest Bank online banking customers. First Midwest Mobile allows you to check balances, make transfers, pay bills, make deposits and find locations. Need to find a Branch or ATM closest to you? With Find Near Me, First Midwest Mobile will discover your location and provide you with addresses and phone numbers on the fly.

Available features include:

Accounts
- Check your latest account balance and search recent transactions by date, amount, or check number.

Transfers
- Easily transfer cash between your accounts.

Bill Pay
- Pay new bills, edit bills scheduled to be paid, and review previously paid bills from your phone.

Remote Deposit Capture
-Deposit checks while on the go with your Apple Device.

Locations
- Find nearby Branches and ATMs using the built-in GPS. Additionally, you can search by zip code or address.

Get it for FREE in the App Store

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Источник: https://appadvice.com/app/first-midwest-mobile/633651928

Online Banking from First Midwest We know you’re busy. That’s why we’ve made banking convenient with online banking solutions such as bill pay, mobile banking, mobile deposit, iTalk, and Apple Pay.

Mobile Banking

If you’re constantly on the move, our mobile banking service is perfect for you. Bank from your phone with our mobile banking app for iPhone or Android. All you have to do is download the app and sign in using your First Midwest online banking account login information.

When you sign up for mobile banking, you’ll enjoy the same convenient amenities featured through online banking. In addition to transferring funds, paying bills, viewing balances and recent transitions, you’ll find features unique to mobile banking.

Download the app and sign in using your First Midwest Online Banking account.

Not an online banking customer?
Enroll Now

  • View balances and recent transactions
  • Transfer funds between accounts
  • Pay bills using First Midwest online bill pay
  • Deposit checks
  • View check images
  • Find ATMs

Deposit Checks and Find ATMs

If you need to cash a check but you’re short on time, mobile banking can help with Mobile Deposit. Deposit checks from your phone with this secure mobile deposit tool from First Midwest. Just login to the First Midwest mobile banking app, select Mobile Deposit from the left hand menu, and follow the onscreen prompts.

You can request to enroll in Mobile Deposit directly through the app or by contacting us. You can begin using the service as soon as you receive your confirmation email.

While using Mobile Deposit, remember to endorse the check and include “For deposit only to FMB.”

If you need to make a withdrawal, we also make finding an ATM easy with Mobile Banking’s ATM location tool. Put time back into your busy schedule and download First Midwest’s Mobile Banking app for easy and convenient banking!

Источник: https://www.onemidwest.com/digital-banking/

ONLINE SERVICES

section of webpage -->

Online Account Management

Log in

MidWest Digital Banking is a free service that enables our members to access and perform transactions on their account(s) using the Internet on the web or their mobile device. This includes: real-time transfer of funds within the account; real time view of your account histories & balances, and member to member transfers.

Please note that we limit check withdrawals from digital banking to $5,000 per day to protect your account. 

Attention Quicken Connect users: If you need help setting up Quicken Connect with your MidWest America FCU account, please view our help guide.

Mobile App

MidWest Digital Banking makes it easier and faster to do all of your banking conveniently on-the-go. For our members with a smartphone, we have a dedicated application for iOS and Android™ devices. 

Our app includes many features like Remote Deposit Capture, which allows you to deposit checks right on your smartphone or tablet to your personal account for free! Up to $225 of your check will be available immediately upon deposit. The remaining amount will be on hold for 3 business days. Deposit up to $3,000 daily and $12,000 monthly.

Have you ever misplaced your debit card? Later you may find your card and want to use it again. Possibly you learned that your card was lost or stolen. Using our Card Control feature provides you the option of turning “on” or “off” your card in these types of situations. Whether it is day or night, you can have the peace of mind that access to your card has been disabled. Not only can you disable the card, you can also order a new one. There are other great features available too such as Quick Balance and Fingerprint Authentication.

You may also use our MidWest Digital Banking without downloading our app by visiting our website on your mobile device.

Download on the App Store       Get it on Google Play

MidWest Phone Banking provides 24-hour access, 7 days a week, to members to verify savings, checking, and loan balances. It's convenient, free, and requires only a PIN number. Commands can be spoken using our voice recognition software or entered manually by touch-tone access.

In addition to transferring funds within your own account, Phone Banking can be set up to enable you to transfer from your account to up to nine additional Credit Union members with our Member to Member Transfer feature. Contact us if you are interested in adding this service to your account. If you need assistance in using this service, view our Phone Banking help diagram.

Local

  • 260-423-8278
  • 260-482-3334 ext. 5278

Toll-Free

  • 1-800-847-2278
  • 1-800-348-4738 ext. 5278


Online Bill Payment Service

Pay bills online using your Credit Union checking account with MidWest Bill Payer. When paying a bill, you determine the amount and date you want it sent. No stamps needed. Plus, you have a great record of all your paid expenses. There is no fee for this service; however, there is a $5 fee assessed if there are 90 days of no activity.

Additional features include Rush Payments to prevent late fees and Gift Pay for special occasion checks for birthdays, graduations, etc. Payments can be made to any entity within the US—including government agencies (i.e. child support; alimony; and taxing authorities.) And you will not need to have a separate user ID and password as you are able to access the Bill Payer system via MidWest Digital Banking or Mobile App.

Log In



Receive your monthly statement sooner than by mail. You must be signed up for our free Digital Banking product in order to retrieve your monthly statements electronically. This service is at no cost to you. You can print your statement or if you only want to view it online, statements can be archived for several months starting with your first e-statement. Click here to log into MidWest Digital Banking and sign up for e-statements.



MidWest America offers a safe and convenient way to manage your Home Equity Line of Credit VISA® with online account access. This service is also available to members who have an existing VISA® credit card transferred to MidWest America.

  • View your credit card statement
  • Obtain payment information
  • Make online payments

Existing credit cardholders may obtain a copy of their cardholder’s agreement by contacting the Credit Union at 800-348-4738 ext. 4000.

*Please use the Google Chrome browser to login to your VISA® account.

Log In


Would you like to know when your account balance falls below a certain amount, when a particular check has cleared, when a direct deposit has been made, or if your account has a negative balance? You can get the answers to these questions and more with e-Alerts which sends a message directly to your cell phone or email account. Alerts are free and you avoid fees with immediate notification of your account status!

To sign-up for this service, log into your account using MidWest Digital Banking. You can select which alerts are important to you.

Transfer money when you want, however you want. 

MidWest America has several convenient and secure options to move your money. With MidWest Digital Banking, Mobile App, and Bill Pay you can easily transfer money between MidWest America accounts and non-MidWest America accounts. You can even pay an IOU to your family and friends.  

 

move your money

 

 I Want to Move My Money:Digital BankingMobile AppPhone Banking
Internal transfersTo make a payment on my MidWest loanXXX
From share to share in my accountXXX
External transfersTo my own account at another bank or credit union (FI to FI)X 
To make a payment on my loan at another financial institution*XX 
From my account at another bank or credit union to MidWestXX  
To pay a bill*XX 
To someone elseTo another MidWest member (One-time transfer)X X
To another MidWest member (Recurring transfers)X  
To someone else's account at another financial institution*XX 

 *Must enroll in MidWest Bill Pay thru Digital Banking.

INTERNAL TRANSFERS

To make a payment on my MidWest loan

Login to Digital Banking -> Go to Transfers & Payments > Make a Transfer
Choose which share you are moving the money from and then select the MidWest America loan you are paying on. Then enter the amount you want to transfer, when you want to send it (now, a specific date or a repeating transfer) and a memo if you’d like.

From share to share

Login to Digital Banking -> Go to Transfers & Payments > Make a Transfer
Choose which share you are moving the money from and which one you are moving it to. Then enter the amount you want to transfer, when you want to send it (now, a specific date or a repeating transfer) and a memo if you’d like. This can also be done in our mobile app.

 

EXTERNAL TRANSFERS

To your own account at another financial institution (FI to FI transfers)


Login to Digital Banking -> Go to Transfers & Payments > Make a Transfer
Once you have setup connection to your external account, choose which share you are moving the money from and which external account you are sending it to. Transactions initiated before 3PM EST are processed the following business day. Then enter the amount you want to transfer, when you want to send it (now, a specific date or a repeating transfer) and a memo if you’d like.  Up to 3 transfers are allowed per week not to exceed a total of $1,500. Click here to view a demo on how to set up FI to FI transfers.

From my account at another bank or credit union to MidWest 

Login to Digital Banking -> Go to Transfers & Payments > Make a Transfer
Choose your confirmed external account and then choose what share you want to deposit into. Then enter the amount you want to transfer, when you want to send it (now, a specific date or a repeating transfer) and a memo if you’d like.

*For your security, the capability to setup these transfers must be activated on your account. Contact a Member Service Representative at (800) 348-4738 to get setup.

To pay a bill 

Login to Digital Banking -> Go to Transfers & Payments > Bill Pay
Have a copy of your bill ready when you go to set up your new payee. Once you’ve established your new payee,  select the bill that you are paying on and enter the amount you want to transfer.  You can also choose when you want to send it (now, a specific date or a repeating transfer) and add a memo if you’d like. 

TO SOMEONE ELSE

To another MidWest member

One-time Transfers
Login to Digital Banking -> Go to Transfers & Payments > Make a Transfer

Choose which share you are moving the money from and then select Another Member. You will need this members account number and last name to do this type of transfer. Then enter the amount you want to transfer, when you want to send it (now, a specific date or a repeating transfer) and a memo if you’d like.

Recurring Transfers
A common example of recurring transfers is family members who would like to frequently transfer to one another. A member-to-member transfer authorization form can be completed to directly link your account to other MidWest member accounts. Please contact a Member Service Representative to get this set up or download the form in our Application & Forms center. 

To someone else’s account at another financial institution

Login to Digital Banking -> Go to Transfers & Payments > Bill Pay > Add Payee > Pay a Person
Through this service you can set up a payee without knowing their account number. You put in their name, phone number or email address and then your recipient will receive a notification to input their account info to receive the money.

 

 

Источник: https://www.mwafcu.org/services/online-services.shtml

First Midwest Bank was established in 1933 and its headquarter is in Itasca, Illinois. The bank has more than 100 locations across Illinois, northwest Indiana, and eastern Iowa.

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First Midwest Bank’s Online Banking solution gives you the momentum you require in managing your banking like never before. Online Banking allows you to bank in any place and at anytime, provided you have internet access on your PC or smartphone. Online Banking eliminates the challenge of having to travel to your local branch to perform your banking transactions. The guide here will show you how First Midwest Bank customers login, reset forgotten password and enroll for online banking.

HOW TO LOG IN

These login steps are meant for individuals who already have their online banking login credentials. Here are the login steps:

Step 1- To access First Midwest Bank website, please click this link https://www.firstmidwest.com/

Step 2- In the homepage, enter your User ID in the shown field and click on the Sign On button in the online banking section

login

Step 3- Click on the Continue with Security Code button shown below to receive a one-time security code

login2

Step 4- Choose how you want to receive the security code, then click Continue

login3

Once your receive the security code, enter it to proceed to the password-entry page

FORGOTTEN PASSWORD/ LOGIN ID?

In case you can’t remember your online banking User ID or Password, please consider calling the bank’s customer care on 877-203-6724 to request for assistance.

HOW TO ENROLL

If you have an account in First Midwest Bank and you wish to enroll for online banking, take note of these enrollment steps:

Step 1- In the homepage, click on the Enroll in Online Banking link shown here

enroll

Step 2- Choose verification method, read and accept online disclosures and agreements by clicking on the shown link, tick the shown checkbox and click Continue

enroll2

Step 3- Please fill in the requested account information, then click Continue

enroll3

The bank will approve your account after validating information you provided.

MANAGE FIRST MIDWEST BANK ONLINE ACCOUNT

First Midwest Bank’s Online Banking allows individuals to:

  • See account balance and transaction history
  • Set up and receive account alerts
  • See check images
  • Transfer funds between accounts
  • Pay bills
  • Access account eStatements

Holiday Schedule for 2020 & 2021

These are the federal holidays of which the Federal Reserve Bank is closed.
First Midwest Bank and other financial institutes are closed on the same holidays.

Holiday20202021
New Year's DayJanuary 1January 1
Martin Luther King DayJanuary 20January 18
Presidents DayFebruary 17February 15
Memorial DayMay 25May 31
Independence DayJuly 4July 4
Labor DaySeptember 7September 6
Columbus DayOctober 12October 11
Veterans DayNovember 11November 11
Thanksgiving DayNovember 26November 25
Christmas DayDecember 25December 25

Login Instructions for Other Banks (See all)


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Источник: https://ccbank.us/first-midwest-bank-online-banking-login/

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This offer has expired. See the full list of available bank bonuses here.


First Midwest Bank bonus

First Midwest Bank, $300 Bonus for New Checking Accounts

First Midwest Bank is offering a bonus of $300 for new checking accounts in IL, IN, IA and WI only. You can open the account online or at a branch and then you need to complete the requirements listed below in order to get the bonus. Direct deposit is not required.

Offer

This offer is limited to new personal checking clients (individuals who have not maintained a checking account with First Midwest Bank in the past 90 days) who complete the following required qualifying criteria:

  1. Open and fund a new Easy, Midwest, or Diamond checking account in branch or online by December 18, 2020. Minimum opening deposit is $100. Account opening subject to First Midwest Bank approval in its sole discretion. The account must be opened and funded with new money which is defined as funds not on deposit at First Midwest Bank within the last 90 days.
  2. Make deposits totaling $2,500 or more within 60 days of account opening. Transfers from other First Midwest deposit accounts do not count as a deposit.
  3. Make 10 debit card purchases of $25 or more with a First Midwest Mastercard® debit card within 60 days of account opening. ATM withdrawals do not qualify.
  4. Enroll in e-statements via Online Banking within 60 days of account opening.
  5. You must download and log into the First Midwest Bank Consumer Mobile banking app and check your account balance within 60 days of account opening. If you do not have the mobile banking app on your mobile device/tablet, simply text iPhone or Android to 57759 from your device and a link to the mobile app will be sent to your phone.

Once all requirements have been met, a $300 bonus will be issued as a credit to the account approximately 120 calendar days after account opening in branch or online. If the account is closed or does not have a balance greater than zero on the day of bonus processing, the $300 credit will not be issued. Promotional credit may be subject to IRS 1099-INT form reporting and may be considered taxable as interest income to you.

Eligibility

  • Available in IL, IN, IA, WI.
  • Limit of one bonus per client, regardless of the number of accounts opened.
  • Offer is not available to existing First Midwest Personal checking clients (either as the primary or joint account holder), accounts that have been closed within the past 6 months, clients who received a promotional bonus in the last 12 months or First Midwest colleagues.

Fees

Easy Checking is probably the best option for this bonus. The account has a $7.49 monthly fee that can be waived with any of the following:

  • $100 average daily balance in Checking OR
  • total qualifying deposits of $100 or more per statement period OR
  • be at least 65 years of age

Guru’s Wrap-up

This is a good bonus of $300 and direct deposit is not one of the requirements. To get the bonus you need to pen an account, deposit $2,500 or more and make 10 debit card purchases of $25 or more within 60 days. You also need to enroll in e-statements and download and log in the app.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.


Offer Details

  • Promo Page
  • Bonus: $300
  • Account Type: Easy Checking
  • Availability: IL, IN, IA, WI
  • Expiration Date: 12/18/20
  • Type of Inquiry: Soft pull
  • Direct Deposit Requirement: No
  • Other Requirements: Deposit $2.5K, 10 debit purchases of $25, enroll in e-statements and download and log in the app
  • Credit Card Funding: Unknown
  • Monthly Fee: $7.49 (waivable)
  • Closing Account Fee: Account must be open to receive bonus

HT: DoC

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November 1, 2020 in Checking Account Bonus. Tags: First Midwest BankИсточник: https://dannydealguru.com/first-midwest-bank-bonus/

First Midwest Bank can trace its roots back to the 1930s when the Union National Bank and Trust Company of Joliet emerged out of the Great Depression. It grew to 20 banks, which then merged under First Midwest Bank in 1983. Today, First Midwest Bank offers a range of banking services including checking, savings and certificate of deposit (CD) accounts. It also offers wealth-management services.

In addition, First Midwest Bank charges generally low fees across its banking products. Still, the bank offers several opportunities to waive those fees. If you're looking to invest in CDs, the bank offers products with terms stretching from just 30 days to six years. And although the bank's savings accounts don't boast the best interest rates, fees are low and these accounts are very easy to manage. Plus, the bank runs several full-service branches across Illinois, northwest Indiana and eastern Iowa. 

ProductKey Details
Savings Accounts
  • Tiered interest rates that increase with balance
  • Several opportunities to waive monthly service fees
  • Health Savings Account option with triple tax advantages
Certificates of Deposit
  • Several options with terms ranging from three months to five years
Money Market Accounts
  •  Tiered interest rates
Interest Earning Checking Accounts
  • Low opening deposit
  • Mortgage closing costs rebate
Retirement Planning Solutions
  • Traditional and Roth IRA options available
  • IRA Money Market account available

First Midwest Bank Interest Rate Comparison

Diamond Savings

Key FeaturesDetails
Minimum Deposit$100
Access to Your Savings AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$25 monthly maintenance fee
Current Terms and Rates
  • For balances of $0 - $2,499: 0.01% APY 
  • For balances of $2,500 - $49,999: 0.02% APY
  • For balances of $50,000 - $99,999: 0.03% APY
  • For balances of $100,000 - $249,999: 0.04% APY
  • For balances of $250,000+: 0.05% APY 

The Diamond Savings account serves as First Midwest Bank’s premier savings account. It’s available only to First Midwest Bank customers with a Diamond Checking account. But despite the glamorous name, its annual percentage yield (APY) doesn’t shine too brightly. 

You’d need a minimum balance of $2,500 to earn a 0.02% APY. That figure is well below the national average. But it can’t compete with the best savings accounts out there. 

Still, the account offers some exclusive benefits. For instance, you can waive the $25 monthly service fee if you meet the following requirements. 

  • Maintain a monthly transfer of $50 from your Diamond Checking account
  • Maintain a minimum daily balance of $1,000 in your account

First Midwest Bank compounds and credits interest on all savings and money market accounts monthly. It’s also important to note that only residents of Illinois, Indiana, Iowa and Wisconsin can open savings accounts with First Midwest Bank online.

Investor Reserve Savings

Key FeaturesDetails
Minimum Deposit$100
Access to Your Savings AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$25 monthly maintenance fee
Current Terms and Rates
  • For balances of $0 - $24,999: 0.01% APY 
  • For balances of $25,000 - $99,999: 0.02% APY
  • For balances of $100,000+: 0.03% APY 

Investor Reserve Savings offers tiered interest rates, meaning your APY climbs as your balance does. However, its APY peaks at 0.03% with a minimum deposit of $100,000. You can find higher rates with smaller balance requirements by comparing savings accounts offered by banks across the country. 

Statement Savings

Key FeaturesDetails
Minimum Deposit$100
Access to Your Savings AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$5 monthly maintenance fee
Current Terms and Rates0.01% APY

Statement Savings is First Midwest Bank’s bare-bones savings account. It charges a low $5 monthly maintenance fee. However, the bank waives the fee if you maintain a daily minimum balance of at least $200 in the account. It also will waive the fee for account holders who are younger than 18 or older than 65. With that said, this account may suit young people who are new to saving. Maintaining the minimum daily balance to waive the maintenance fee may also encourage people to stick to a healthy savings routine.

Compare First Midwest Bank to Other Competitive Offers

Health Savings Account (HSA)

Key FeaturesDetails
Minimum Deposit$100
Access to Your Savings AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$2 monthly maintenance fee
Current Terms and Rates
  • For balances of $0 - $499: 0.01% APY
  • For balances of $500 - $999: 0.02% APY
  • For balances of $1,000 - $2,499: 0.03% APY
  • For balances of $2,500 - $9,999: 0.04% APY
  • For balances of $10,000+:0.05% APY

If you’re enrolled in a qualified High Deductible Health Plan (HDHP) and are not on Medicare, you can open a health-savings account (HSA) through First Midwest bank. These tax-advantaged savings vehicles are designed to pay for future qualified medical expenses. They offer the following tax breaks. 

  • Tax-deductible contributions
  • Earnings grow tax-free
  • Withdrawals for qualified medical expenses are tax-free

Many HSAs are tied to investment portfolios and mutual funds. First Midwest Bank offers an option that offers the same tax benefits, but functions more like a traditional savings account. And although it offers tiered interest rates, the APYs are low across the board. So the First Midwest Bank HSA may suit someone with a low risk tolerance who has already put aside a sizable amount for medical expenses. The First Midwest Bank HSA comes with a First Midwest Bank HealthCare debit card. The bank waives its own non-network ATM surcharge twice per statement period. 

However, withdrawals for nonqualified expenses trigger tax penalties. Ask your advisor questions about whether you should invest in this HSA and how to go about doing so.

First Midwest Bank Certificates of Deposit (CDs)

Key FeaturesDetails
Minimum Deposit$1,000
Access to Your CDOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
FeesNo monthly maintenance fees, but early withdrawal penalties apply. 
Current Terms and Rates (Standard Rates)3 Months 
  • For deposits of $1,000: 0.03% APY
  • For deposits of $25,000: 0.03% APY
  • For deposits $50,000: 0.03% APY
  • For deposits of $100,000: 0.03% APY
6 Months 
  • For deposits of $1,000: 0.04% APY
  • For deposits of $25,000: 0.04% APY
  • For deposits of $50,000: 0.04% APY
  • For deposits of $100,000: 0.04% APY
9 Months
  • For deposits of $1,000: 0.04% APY
  • For deposits of $25,000 0.04% APY
  • For deposits of $50,000: 0.04% APY
  • For deposits of $100,000: 0.04% APY
12 Months 
  • For deposits of $1,000: 0.05% APY
  • For deposits of $25,000: 0.05% APY
  • For deposits of $50,000: 0.05% APY
  • For deposits of $100,000 : 0.05% APY
18 Months
  • For deposits of $1,000: 0.05% APY
  • For deposits of $25,000: 0.07% APY
  • For deposits of $50,000: 0.09% APY
  • For deposits of $100,000: 0.11% APY
24 Months 
  • For deposits of $1,000: 0.07% APY
  • For deposits of $25,000: 0.09% APY
  • For deposits of $50,000: 0.11% APY
  • For deposits of $100,000: 0.13% APY
36 Months 
  • For deposits of $1,000: 0.08% APY
  • For deposits of $25,000: 0.10% APY
  • For deposits of $50,000: 0.12% APY
  • For deposits of $100,000: 0.14% APY
48 Months 
  • For deposits of $1,000: 0.10% APY
  • For deposits of $25,000: 0.12% APY
  • For deposits of $50,000: 0.14% APY
  • For deposits of $100,000: 0.16% APY
60 Months 
  • For deposits of $1,000: 0.18% APY
  • For deposits of $25,000: 0.20% APY
  • For deposits of $50,000: 0.22% APY
  • For deposits of $100,000: 0.24% APY

You can open a certificate of deposit (CD) account with First Midwest Bank for terms stretching from just three months to 60 months (5 years). However, the bank’s offerings can’t compete with the best CD rates on the market. 

You’d need to lock in at least $100,000 for five years to generate an APY of 0.24%. You can find better rates for shorter terms by comparing CD rates across different banks. 

But if you’re a loyal First Midwest Bank customer, you may be able to boost your rates by talking to a banker. 

Diamond Money Market Account

Key FeaturesDetails
Minimum Deposit$100
Access to Your Money Market AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$25 monthly maintenance fee
Current Terms and Rates
  • For balances of $0 - $2,499: 0.01% APY
  • For balances of $2,500 - 24,999: 0.02% APY
  • For balances of $25,000 - $49,999: 0.03% APY
  • For balances of $50,000 - $99,999: 0.05% APY
  • For balances of $100,000 - $249,999: 0.07% APY
  • For balances of $250,000+: 0.08% APY

First Midwest Bank offers its Diamond Money Market account exclusively to its Diamond Checking account holders. And while the bank promotes this option as its premium money market account, it doesn’t offer rates that can compete with the best money market accounts in the industry. For example, you need to maintain a minimum balance of $250,000 to earn a dismal interest rate of 0.08%. 

Premier Money Market 

Key FeaturesDetails
Minimum Deposit$100
Access to Your Money Market AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$25 monthly maintenance fee
Current Terms and Rates
  • For balances of $0 - $2,499: 0.01% APY
  • For balances of $2,500 - 24,999: 0.01% APY
  • For balances of $25,000 - $49,999: 0.02% APY
  • For balances of $50,000 - $99,999: 0.03% APY
  • For balances of $100,000+: 0.04% APY

The Premier Money Market account by First Midwest Bank is available to all customers. However, it still offers low tiered APYs across the board. The highest current APY of 0.04% requires a minimum balance of $250,000. 

But as with all of the bank’s money market accounts, First Midwest allows complete liquidity. This means you have access to your money any time.

Money Market

Key FeaturesDetails
Minimum Deposit$100
Access to Your Money Market AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$15 monthly maintenance fee
Current Terms and Rates0.03% APY

This account is as basic as its name. The Money Market account by First Midwest Bank offers a fixed APY of 0.3%. It also charges a $15 monthly maintenance fee, which you can waive by maintaining a minimum balance of $1,000.

IRA Money Market

Key FeaturesDetails
Minimum Deposit$100
Access to Your Money Market AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
FeesNone but early withdrawal penalties will apply 
Current Terms and Rates
  • For balances of $1,000 - $24,999: 0.01% APY
  • For balances of $25,000 - $49,999: 0.03% APY 
  • For balances of  $50,000+: 0.03% APY

If you’re nearing your golden years, you may be interested in rolling over your 401(k) or individual retirement account (IRA) into a First Midwest IRA Money Market. This savings vehicle offers the same tax advantages as an IRA, but offers the convenience of a fixed interest rate. 

However, the IRA Money Market doesn't offer the strongest APYs. You’d need to park a $50,000 nest egg to secure a current APY of 0.03%. And although you can deposit as little as $100 to open an account, you won’t earn interest until you deposit at least $1,000. 

Thus, this option may be suitable for someone with a low risk tolerance who has saved a substantial amount for retirement and seeks more protection from market swings. But anytime you’re making retirement decisions, you should choose a financial advisor to work with.

IRA

Key FeaturesDetails
Minimum Deposit$500
Access to Your IRAOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
FeesNone but early withdrawal penalties will apply 
Current Terms and Rates6 Months
  • For deposits of $500: 0.04% APY
  • For deposits of $25,000: 0.04% APY
  • For deposits of $50,000: 0.04% APY
  • For deposits of $100,000: 0.04% APY
9 Months
  • For deposits of $500: 0.04% APY
  • For deposits of $25,000: 0.04% APY 
  • For deposits of $50,000: 0.04% APY
  • For deposits of $100,000: 0.04% APY 
12 Months
  • For deposits of $500: 0.05% APY
  • For deposits of $25,000: 0.05% APY
  • For deposits of $50,000: 0.05% APY
  • For deposits of $100,000: 0.05% APY
18 Months
  • For deposits of $500: 0.05% APY
  • For deposits of $25,000: 0.07% APY
  • For deposits of $50,000: 0.09% APY
  • For deposits of $100,000: 0.11% APY
24 Months
  • For deposits of $500: 0.07% APY
  • For deposits of $25,000: 0.09% APY
  • For deposits of $50,000: 0.11% APY 
  • For deposits of $100,000: 0.13% APY
36 Months
  • For deposits of $500: 0.08% APY 
  • For deposits of $25,000: 0.10% APY
  • For deposits of $50,000: 0.12% APY
  • For deposits of $100,000: 0.14% APY
48 Months
  • For deposits of $500: 0.10% APY
  • For deposits of $25,000: 0.12% APY
  • For deposits of $50,000: 0.14% APY
  • For deposits of $100,000: 0.16% APY
60 Months
  • For deposits of $500: 0.18% APY
  • For deposits of $25,000: 0.20% APY
  • For deposits of $50,000: 0.22% APY
  • For deposits of $100,000: 0.24% APY
With Diamond Checking account 6 Months
  • For deposits of $500: 0.15% APY
  • For deposits of $25,000: 0.17% APY
  • For deposits of $50,000: 0.19% APY
  • For deposits of $100,000: 0.21% APY
9 Months
  • For deposits of $500: 0.16% APY
  • For deposits of $25,000: 0.18% APY 
  • For deposits of $50,000: 0.20% APY
  • For deposits of $100,000: 0.22% APY 
12 Months
  • For deposits of $500: 0.17% APY
  • For deposits of $25,000: 0.19% APY
  • For deposits of $50,000: 0.21% APY
  • For deposits of $100,000: 0.23% APY
18 Months
  • For deposits of $500: 0.25% APY
  • For deposits of $25,000: 0.27% APY
  • For deposits of $50,000: 0.29% APY
  • For deposits of $100,000: 0.31% APY
24 Months
  • For deposits of $500: 0.40% APY
  • For deposits of $25,000: 0.42% APY
  • For deposits of $50,000: 0.44% APY 
  • For deposits of $100,000: 0.46% APY
36 Months
  • For deposits of $500: 0.50% APY 
  • For deposits of $25,000: 0.52% APY
  • For deposits of $50,000: 0.54% APY
  • For deposits of $100,000: 0.56% APY
48 Months
  • For deposits of $500: 0.60% APY
  • For deposits of $25,000: 0.62% APY
  • For deposits of $50,000: 0.64% APY
  • For deposits of $100,000: 0.66% APY
60 Months
  • For deposits of $500: 0.70% APY
  • For deposits of $25,000: 0.72% APY
  • For deposits of $50,000: 0.74% APY
  • For deposits of $100,000: 0.76% APY
With Midwest Checking Account 6 Months
  • For deposits of $500: 0.12% APY
  • For deposits of $25,000: 0.14% APY
  • For deposits of $50,000: 0.16% APY
  • For deposits of $100,000: 0.18% APY
9 Months
  • For deposits of $500: 0.13% APY
  • For deposits of $25,000: 0.15% APY 
  • For deposits of $50,000: 0.17% APY
  • For deposits of $100,000: 0.19% APY 
12 Months
  • For deposits of $500: 0.14% APY
  • For deposits of $25,000: 0.16% APY
  • For deposits of $50,000: 0.18% APY
  • For deposits of $100,000: 0.20% APY
18 Months
  • For deposits of $500: 0.15% APY
  • For deposits of $25,000: 0.17% APY
  • For deposits of $50,000: 0.19% APY
  • For deposits of $100,000: 0.21% APY
24 Months
  • For deposits of $500: 0.20% APY
  • For deposits of $25,000: 0.22% APY
  • For deposits of $50,000: 0.24% APY 
  • For deposits of $100,000: 0.26% APY
36 Months
  • For deposits of $500: 0.25% APY 
  • For deposits of $25,000: 0.27% APY
  • For deposits of $50,000: 0.29% APY
  • For deposits of $100,000: 0.31% APY
48 Months
  • For deposits of $500: 0.30% APY
  • For deposits of $25,000: 0.32% APY
  • For deposits of $50,000: 0.34% APY
  • For deposits of $100,000: 0.36% APY
60 Months
  • For deposits of $500: 0.35% APY
  • For deposits of $25,000: 0.37% APY
  • For deposits of $50,000: 0.39% APY
  • For deposits of $100,000: 0.41% APY

First Midwest Bank also offers a standard IRA and a Roth IRA. The Roth options are funded with after-tax dollars. So qualified withdrawals are tax free. 

Each of these accounts at First Midwest Bank functions much like an IRA CD. You earn a higher interest rate if you deposit a large amount for a long term. But the rates are still low compared to similar options at other banks. 

However, you can considerably boost your interest rates on an IRA or Roth IRA if you link it to First Midwest Bank’s Diamond Checking account. Consult your tax advisor to weigh the pros and cons as they apply to your individual situation. 

Diamond Checking

Key FeaturesDetails
Minimum Deposit$100
Access to Your Checking AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$20 monthly maintenance fee
Current Terms and Rates
  • For balances of $0 - $9,999: 0.01% APY
  • For balances of $10,000 - $24,999: 0.01% APY
  • For balances of $25,000 - $49,999: 0.01% APY
  • For balances of $50,000 - $99,999: 0.02% APY
  • For balances of $100,000+: 0.03% APY

First Midwest Bank promotes its Diamond Checking option as its top-tier checking account. It’s best suited for those who have a home loan or wealth management relationship with First Midwest Bank. And although its tiered interest rates can’t compete with the best savings accounts out there, not many banks offer interest-bearing checking accounts at all. 

As with all First Midwest checking options, this account gives you surcharge-free access to your money via its branches and more than 55,000 national ATMs in the AllPoint network. First Midwest will also waive four of its own non-network fees per statement period when you use your card at ATMs run by other banks. However, the fees charged by the other banks or ATM owners may still apply. 

In addition, First Midwest Bank will waive the $20 monthly maintenance fee if you meet the following requirements. 

  • Maintain a mortgage, home equity loan or line, personal trust or private banking relationship with First Midwest Bank 
  • Maintain a $25,000 combined average daily balance in all First Midwest Bank accounts including savings, CDs and money market options. 

Those looking forward to buying a home may be interested in opening this account as the bank offers a $250 closing costs rebate. 

 In addition, Diamond checking holders receive the following benefits. 

  • 50% discount on safe deposit boxes when you set up an auto payment from your savings account
  • Opportunity to boost your First Midwest Bank CD rates
  • Unlimited check writing privileges
  • Free teller services including cashier's checks, money orders and single signature traveler's checks 

Frequent flyers may also be interested in opening an account as the bank provides a free World Debit Mastercard. It offers the following features.

  • Travel accident insurance up to $25,000
  • Baggage delay insurance up to $300
  • Lost or damaged luggage insurance

Midwest Checking Account

Key FeaturesDetails
Minimum Deposit$100
Access to Your Checking AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
Fees$12 monthly maintenance fee
Current Terms and Rates

Anyone looking for a standard checking account with a little kick should look no further than Midwest Checking. This account requires a low monthly maintenance fee. However, it can be waived if you meet one of the following requirements. 

  • Deposit at least $1,000 a month into your account
  • Maintain a $2,500 minimum daily balance on your account

First time homebuyers may also be interested in this account as it offers a $150 mortgage closing cost rebate. In addition, Midwest Checking account holders get the following perks. 

  • 20% discount on safe deposit boxes
  • Opportunity to boost First Midwest CD rates

Easy Checking Account

Key FeaturesDetails
Minimum Deposit$100
Access to Your Checking AccountOnline, mobile and at physical branches.
SecurityFDIC insurance up to the maximum amount allowed by law.
FeesNone

The Easy Checking account is First Midwest’s bare bones checking option. It doesn’t earn any interest. However, it does require the same $100 opening deposit as its counterparts. As with all of First Midwest’s Accounts, Easy checking offers free mobile banking and eStatements. In addition, you’d get free unlimited check writing privileges. Would-be homeowners can also benefit from a $150 rebate on mortgage closing costs.

Branch Locations

First Midwest Bank operates more than 125 branches across Illinois, northwest Indiana and eastern Iowa. However, First Midwest is also part of the Allpoint network. This means you can use your First Midwest debit Mastercard at more than 55,000 ATMs throughout the country without incurring a surcharge.

Financial Statistics & Bank Health Rating

First Midwest Bank has $14 billion in assets and about $10 billion in outstanding loans, according to the FDIC. The Texas Ratio stands as an important indicator that helps you determine how risky a bank is to work with. It is calculated by dividing the amount of non-performing assets (unbacked current loans and real estate owned) by the sum of the bank’s tangible equity capital and its loan loss allowances. First Midwest Bank currently scores a 4.80% in this metric. Banks with a Texas Ratio under 5% boast excellent reliability. 

But if you’re still hesitant to commit to a bank to serve your financial needs, you can consult a qualified financial advisor who can guide you through financial wellness regardless of your current income. If you’ve yet to work with one, you can use our SmartAdvisor tool. It connects you to local advisors based on your answers to simple questions about your financial situation and goals. You can then examine the credentials and qualifications of each match and set up interviews in person or by phone before making a decision.

Источник: https://smartasset.com/checking-account/first-midwest-bank-banking-review
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