How To Check For Money For A Midfirst Bank
MidFirst Bank Review: Plenty of Options With Waivable Fees
- About MidFirst Bank
- Checking Accounts
- Savings Accounts
- Money Market place Account
- CD Rates
- Banking Feel
- Competitors
- Final Have
GOBankingRates Score
Quick Take: MidFirst offers a host of cyberbanking products and services, including a diverseness of checking accounts and the option to waive monthly service fees. The bank also prides itself on providing highly personalized client service and well-trained staff to help customers with their financial goals.
- Minimum Opening Deposits
- Monthly Fees
- Customer Service
- Account Options
How did we calculate this?
Pros
- Variety of checking business relationship options
- Waivable service fees
- Live customer service seven days per calendar week
- Free checking and savings options designated for children
Cons
- More competitive rates may be constitute elsewhere
- Opening an account requires a deposit
About MidFirst Bank
MidFirst Banking concern, with over $31.3 billion in assets, ranks as the largest privately owned banking company in the Usa. Even though it can compete with larger banks when information technology comes to the range of products and services it offers, it strives to act every bit a community-oriented depository financial institution in the personalized mode that it serves its customers. The bank serves 900,000 customers across the nation and has principal markets located in Oklahoma, Phoenix, Dallas and Denver. Observe out why MidFirst Bank made GOBankingRates' listing of Top 100 Banks for 2022.
Checking Accounts
MidFirst Bank has five checking accounts, which makes it easier to find a checking solution that works well with your financial goals. Here are the details for each account.
LiveFree Checking
Just like its name states, this no-frills account is free of monthly maintenance fees. Information technology's designed for depositors who want to be able to complete banking tasks online but aren't interested in earning involvement or relationship discounts. The account requires a minimum deposit of $100 to open, and there'southward no monthly service charge as long as you lot opt for eStatements.
eChecking
MidFirst's eChecking account as well requires a $100 minimum opening eolith, but this business relationship allows you to earn an increased interest rate on balances up to $20,000. To earn the increased rate, y'all'll need to complete at least 15 debit card transactions and 1 directly deposit or online bill payment. This account includes a $ten monthly service charge that can be waived with a $500 average daily residuum or a $250 monthly recurring direct eolith.
M Account
If yous're looking for a more than traditional checking account, the M account is a non-interest-bearing account that requires a $100 minimum opening deposit. It includes free money orders and official checks, too as discounts on wallet checks and condom deposit boxes. If you lot adopt paper statements, the fee is $iv, merely it's waived for account holders who are 60 or older. Additionally, the $ten monthly service charge is waived if yous accept at least one of the following: a $250 monthly recurring direct deposit, a $i,000 average daily balance or $fifty,000 in combined deposit balances.
M+ Account
The Thou+ account has the aforementioned benefits as the K Account, such as gratis money orders and official checks, plus discounts on wallet checks and safe deposit boxes. However, unlike the Chiliad Business relationship, this account allows y'all to earn involvement and does not have a paper statement fee. The account requires a minimum opening deposit of $100, and at that place is a $15 monthly service accuse. Only the bank will waive it if you take a $two,500 minimum average daily residual or $50,000 in combined deposits.
Go! Checking
Students ages 17 to 24 can qualify to open up a Go! Checking business relationship, which does not include a monthly service accuse. The business relationship requires just $25 to open. Individuals who are younger than 17 tin open this account jointly with a parent or guardian. If paper statements are desired, a $4 monthly fee applies.
Savings Accounts
MidFirst has a couple of savings options to cull from.
Performance Savings
If you're looking for a savings account that has a low minimum balance requirement to avoid a monthly service charge, this is it. All yous take to do is maintain an average daily balance of $250, and y'all won't have to pay the $4 monthly service fee. The business relationship requires a $100 minimum opening deposit, and interest is compounded daily and paid monthly. It also allows for vi gratuitous withdrawals per monthly statement bicycle; each withdrawal in excess during the same calendar month will incur a fee of $8.
iSave Savings Plan
The iSave Savings Program is designed for children under 17 to help them establish skillful saving habits with a reward for their efforts. After 12 consecutive deposits, MidFirst Banking company will match 50% of the boilerplate of the highest unmarried eolith each month for a total of $25 each year. The minimum opening deposit for this business relationship is $25, and in that location's no monthly service charge. Interest is compounded daily and paid monthly. Upon account opening, your child will receive a handy custom deposit journal to rail savings.
Money Market Business relationship
The Titanium Coin Market account requires a $100 minimum opening eolith and offers tiered interest rates to increment earning potential. A $ten monthly service charge applies if your average daily balance is lower than $5,000. If y'all happen to exceed the half dozen free withdrawals limit in a month, a $10 fee applies to each additional withdrawal that month.
CD Rates
MidFirst Banking company offers two certificate of deposit options. Hither's more than near each i, including their rates.
Relationship CD
MidFirst's Relationship CD offers a range of terms and interest rates to assistance y'all meet your investment needs. Terms range from 91 days upwardly to x years, with interest rates from 0.10% APY to 0.70% APY, and minimum opening balances are as low as $ane,000. Interest is compounded daily, and you can earn rate increases based on your relationship.
Callable Human relationship CD
With the callable feature on this type of CD, MidFirst can redeem the CD any time subsequently the designated lock menstruum, which ways you'll receive the stated APY for the investment period. Terms range from two to vii years, and lock periods range from three months to two years. Yous'll have to have a bit more than cash on hand to open a Callable Relationship CD, which requires a $five,000 minimum opening eolith. APYs range from 0.20% to 0.threescore%, depending on term, and you lot may qualify for interest rate increases if your CD is function of a Relationship Package.
Banking Experience
Now that you know more about the types of deposit accounts MidFirst Bank offers, hither are some of its standout features.
Minimum Opening Deposits
The minimum opening deposits at MidFirst Bank are competitive. All of the checking options require a $100 minimum opening eolith, excluding the Get! Checking account, which requires $25. The Performance Savings business relationship requires a $100 minimum opening eolith, and the iSave Savings Program, designed for children under 17, requires a $25 minimum opening deposit. The money market business relationship requires a $100 minimum opening deposit, and the certificates of deposit require $1,000 or $5,000.
Monthly Fees
While some of the account options at MidFirst, such as the LiveFree Checking, the Go! Checking and iSave Savings Program, don't include any monthly fees, the monthly fees that MidFirst banking concern does charge are affordable and can all exist waived as long as you meet qualifying requirements. For example, checking options that include monthly service fees are $x or $15, but the depository financial institution will waive them every bit long every bit you meet average daily balance requirements, directly deposit requirements or combined balance requirements.
Customer Service
MidFirst Bank takes pride in grooming its staff well and offers personalized client service vii days per week. Although the bank'due south automated line is available 24/vii, MidFirst Banking concern allows you to phone call in and speak to a personal banker seven days per calendar week, which is a step higher up what some other banks offering. A banking representative is available at 888-643-3477 Mon-Friday from vii a.m. to nine p.m. CT, Saturday from 8 a.m. to half-dozen p.yard. CT and Sunday from noon to 4 p.1000. CT.
Checking Account Options
While other banks may offering simply one or ii checking business relationship options, the number of checking accounts MidFirst offers stand up out. The banking company offers 5 checking options, and 2 of them (LiveFree Checking and Go! Checking) are free of monthly service fees. Plus, the other options offer depositors a style to hands avoid the fees.
Easy$ave Option
MidFirst also offers its Like shooting fish in a barrel$ave option to customers, which can assist you lot save without having to think about it and add a boost to your savings balance. To enroll, you must be an owner of a MidFirst consumer checking business relationship with an active debit card and besides have a linked MidFirst consumer savings or money market business relationship. Once enrolled, each time y'all brand a debit card transaction, MidFirst volition round up your buy to the nearest dollar and deposit the difference in your linked consumer savings or money market account. According to MidFirst data, an boilerplate daily transfer corporeality of $1.46 for 250 business organisation days would add upwardly to $365 in annual savings.
Editor's Favorite
The choice of business relationship options — especially when it comes to checking — gives depositors a chance to pick an account that meets their fiscal needs and goals. Plus, every account that charges a monthly fee has options for waiving it.
MidFirst Depository financial institution vs. Competitors
To sympathise whether MidFirst'south offerings might marshal with your financial goals, information technology can be helpful to run across how it measures upwardly to its competitors.
MidFirst Bank vs. Bank of Oklahoma
Bank of Oklahoma offers checking accounts with low minimum opening deposits of $50, while all but one of MidFirst's checking accounts require a minimum deposit of $100. That i account, even so, is Go! Checking, which is available for younger customers up to 24 years old. Banking concern of Oklahoma's pupil checking option is available merely to those nether 18.
MidFirst Banking concern vs. BancFirst
BancFirst is more user-friendly for Oklahoma customers who prefer banking in person considering the depository financial institution boasts it has more locations than any other in Oklahoma. However, MidFirst Depository financial institution has locations in states other than Oklahoma, which ways its products and services are accessible by a wider customer base.
MidFirst Bank vs. Arvest Banking concern
Arvest Bank offers half dozen checking options to MidFirst's v options. Yet, MidFirst's checking account options include a student checking account, which Arvest doesn't offer.
Final Take
MidFirst Bank is a total-service depository financial institution with plenty of business relationship options and waivable service fees. While the rates may not exist every bit adept as some other banks offering, the bank is still worth considering if you live well-nigh one of its locations. Additionally, the depository financial institution offers live customer service 7 days per calendar week, which is non the standard amid banks. Consider opening an business relationship with MidFirst if you live in one of its service areas and believe it's the correct bank for you lot.
MidFirst Banking concern FAQ
Here are the answers to some commonly asked questions almost MidFirst Depository financial institution.
- Does MidFirst accept Zelle?
- Yes, Mid F irst allows you to ship and receive money with Zelle.
- What is MidFirst Bank's routing number ?
- MidFirst has three routing numbers, depending on your location. The routing number for Oklahoma is 303087995. The routing number for Arizona is 122187445. And the routing number for Colorado is 102089929. If you need to set a wire transfer, y'all use the routing number for Oklahoma, no affair where you are located .
- Is MidFirst Bank FDIC insured ?
- Yes, MidFirst Banking company is FDIC insured .
- Does MidFirst Bank charge a dormancy fee?
- Yes, subsequently 12 months of inactivity on an business relationship, MidFirst Bank will charge a dormancy fee of $five per calendar month.
Rates are subject to alter. Information on accounts is accurate as of Dec. 30, 2021.
This content is non provided by MidFirst Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have non been reviewed, canonical or otherwise endorsed past MidFirst Bank.
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Source: https://www.gobankingrates.com/reviews/midfirst-bank/
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