First Foundation Bank:
Savings Account - 4.00% 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 4.00%
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
Monthly Maintenance Fee N/A
Foreign ATM Fees N/A
Insufficient Funds Fee $35.00
Incoming Wires $10.00
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.

Customer Reviews for First Foundation Bank (45)

  • October 17, 2022 |

    Online Savings Rates

    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!

  • July 15, 2022 |

    Online Savings Rates

    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.

  • June 18, 2022 | | Replies 1

    Online Savings Rates

    Avoid this bank at all cost, no matter what the rate is. The external transfer limits will not be waived for anyone under any circumstance. Not a place to stash cash.

    PJs at bedtime | Jan 28, 2023

    I just don't get all of the concerns about external limits. You avoid these easily by transferring from an external account.

  • May 26, 2022 |

    Online Savings Rates

    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.

  • May 5, 2022 |

    Online Savings Rates

    I have no idea what's up with all of the bad reviews. I opened an account easily at 0.65% and then they were the first to raise to 1% after the Fed review. No friction, but no need to contact them or remove money so far.

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