First Foundation Bank:
Online Savings Account - 0.50% 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 0.50%
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

  • April 23, 2021 |

    AVOID, INSECURE,IRRITATING. Application for SAVINGS and no credit. Invasive personal information. PHOTO of driver license--no scanning into "secure" application. It did not like original Photo, so was requested to send it by e-mail. (I worked on bank security for years: sending license via e-mail is one of the best ways to get yourself right into the hands of ID thieves in Asia.) On my pointing out insecurity: submit image photocopied on home machine. Sent both sides in snail mail from here in SoCal. Sent by FAX to number indicated by representative. Neither was "received" a week later even though my FAX machine showed it had been received. Received THREE separate notices of denial by e-mail including that obscure credit bureaus not in the usual 3 had been consulted. (For deposits????)

  • April 22, 2021 |

    Online Savings Rates

    Have had only good experiences and pleased that they stay competitive.

  • March 19, 2021 |

    Online Savings Rates

    I feel like I may be trying my luck by commenting here. I've opened several accounts recently only to find that I am earning a much lower rate when I finally get to funding. This one seems different. Rate has held at 0.60% and it isn't the best rate but it is among the best. Opening process was fine and have had no issues. I live in Pennsylvania and do not require access to branch.

  • February 6, 2021 |

    Online Savings Rates

    I've had no problems in 6 months. Have not needed to call.

  • January 5, 2021 |

    They offer the best interest rate of 0.75% which is better than most. Transfers of large amounts are just painful. Small limits on transfers are also ridiculous. Learned to use my main bank account to transfer large sums, and have been told that I can transfer large sums out if I call and provide additional information to verify my identity. I have not tried this yet. I hope it works. The bank App is very basic and has been problematic. Sometimes I have not be able to log in.

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