First National Bank of America Review 2023

Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

First National Bank of America Review: Overall Rating

First National Bank of America Pros and Cons

First National Bank of America Statement Savings Account Review

The First National Bank of America Statement Savings Account may be a good fit if you live in Michigan can maintain a $199 balance, because then you'll waive the First National Bank of America Statement Savings Account - Fees Display. 

If you don't live near a branch, First National Bank of America also has a high-yield savings that can be opened online. However, this account has a $1,000 minimum opening deposit, and you'll need to maintain this amount to waive a $10 monthly service fee. 

First National Bank of America Personal Checking Account Review

You may like First National Bank of America Personal Checking Account if you want free overdraft protection. You'll want to keep an eye out for the First National Bank of America Personal Checking Account - Fees Display. You can waive the fee if you keep at least $350 in your account.

First National Bank Certificate of Deposit Review

The First National Bank of America Certificate of Deposit offers high interest rates on long-term CDs. These are the only accounts you can open online even if you don't live near a branch.

First National Bank of America HomeTowne Checking Money Market Account Review

This is sort of like a hybrid checking/savings account. It works like a checking account, but it pays a higher interest rate than the regular checking account. You may like the First National Bank of America HomeTowne Checking Money Market Account if you can maintain a First National Bank of America HomeTowne Checking Money Market Account balance to waive the First National Bank of America HomeTowne Checking Money Market Account - Fees Display.

About First National Bank of America

First National Bank of America has branches in Lansing, Grand Rapids, and Traverse City, Michigan. You have free access to over 55,000 ATMs in the Allpoint network nationwide.

You must open the checking, savings, and money market accounts at a branch. You can open a CD either at a branch or online, and they're available nationwide. If you live in an area without a branch, you're eligible to open an online high-yield savings account.

Branches are open Monday through Friday. The bank has separate phone numbers for insurance, payment issues, and more, and these phone hours are a little longer than the branch hours.

The First National Bank of America mobile app has 4.9 out of 5 stars in the Apple store, and 4.3 out 5 stars in the Google Play store.

Your deposits are FDIC insured for up to $250,000, or $500,000 for joint accounts. This means your money is safe even if the bank shuts down.

Is First National Bank of America Trustworthy?

First National Bank of America does not have any public scandals.

The bank has an A+ rating from the Better Business Bureau. A high BBB grade indicates that a company responds effectively to customer complaints, is transparent about business practices, and advertises honestly.

A good BBB score doesn't guarantee that you'll have a strong relationship with a company, though. You still may want to ask friends and family about their experiences with First National Bank of America, or read online customer reviews.

First National Bank of America FAQs

How many branches does First National Bank of America have?

First National Bank of America has three locations in Michigan (East Lansing, Grand Rapids, and Traverse City). 

Is First National Bank of America safe? 

First National Bank of America is regulated by the FDIC. The FDIC insures bank accounts for up to $250,000 per depositor, per category. If a bank fails, the FDIC protects your insured deposits by moving your money to another FDIC-insured financial institution or sending you a check.

What are the CD rates at First National Bank of America?

First National Bank of America has online CDs paying First National Bank of America CD - APY APY. 

Methodology: How We Reviewed First National Bank of America

For our First National Bank of America review, we used our bank account methodology to determine ratings.

We review specific features for each type of bank account. For example, we'll look at early withdrawal penalties and current rates for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options.

For all bank accounts, we'll usually examine minimum opening deposits, monthly service fees, customer support availability, and mobile app ratings.

How First National Bank of America Compares

First National Bank of America vs. Huntington Bank

If you're looking for a competitive interest rate on a CD, First National Bank of America is likely a better fit. First National Bank of America pays higher interest rates on CDs than Huntington Bank.

Huntington Bank might be a better choice for checking accounts, though. Huntington has a no-fee checking account and ones that provide extra perks, such as cash back and credit score monitoring.

First National Bank of America vs. Chase

If you're looking for a competitive interest rate on a CD, First National Bank of America is likely more suitable than Chase. First National Bank of America pays higher interest rates on CDs.

Chase might be worth considering for a checking account, though. Chase has a couple of accounts included in our best cash bonuses guide. Others have benefits like waived ATM and foreign transaction fees.