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Bank First National Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Bank First National Savings
0.10% APY

Overview

Our Rating: 4.1/5 How we calculated this rating

Established in 1894, Bank First National has assets totaling $2 billion as well as deposits totaling $2 billion, classifying the institution as a large bank. Bank First National, whose headquarters are in Manitowoc, Wisconsin, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4.1 out of 5 stars, Bank First National is a respectable bank that gets the job done. 

Bank First National provides customers with a mixture of banking products, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Bank First National has a fair savings rate; you can find higher rates with other banks. Using the same bank for checking and savings can be ideal when you want to get the most return on your deposits while maintaining access to your money without getting penalized for withdrawing.

Service Quality

Bank First National is a brick-and-mortar bank, with 19 total bank locations in Texas and Wisconsin. It also offers access to mobile and web apps for simple access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 5:00 p.m. CT; Saturday, 9:00 a.m. to 12:00 p.m. CT. 

Bank First National gets moderate marks from customers for its mobile banking services: the Bank First National mobile app scored a 3.9 out of 5 (with 37 reviews on Apple and Android) compared to the national average of 3.8. You can utilize Bank First National's app to manage your finances by reviewing monthly statements, transferring funds and accessing support representatives. Bank First National receives a superb consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.10% APY $2,500 Compare Offers
Certificates of Deposit
  • 12 Month: 2.00% APY
  • 24 Month: 2.50% APY
  • 36 Month: 2.55% APY
  • 48 Month: 2.65% APY
  • 60 Month: 3.00% APY
$1,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.40% APY
  • 25K tier: 0.50% APY
  • $10,000
  • $25,000
Compare Offers
Checking Accounts 0.10% APY $2,500 Compare Offers

Bank First National offers several deposit products which include savings accounts, checking accounts, money market accounts and CDs, providing you with many options to manage your money. It does not have the best savings rate, which means you should think about looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Bank First National's CD rates are excellent compared to the national average.

Rates

Bank First National features a savings rate of 0.10%, which is fair in comparison to the national average. Its CDs feature a rate of 2.00% and 3.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.50%. Given Bank First National's poor savings rate, you should contemplate opting for higher earning savings accounts with other banks.

Compare Bank First National to Other Competitive Offers

Fees

There is insufficient data on Bank First National's fees to provide a full SmartAsset rating.

Financial Health

Bank First National ranks as a large bank with $2 billion in assets as well as deposits totaling $2 billion. Bank First National has a very good Texas Ratio of 13.40%, suggesting that Bank First National is in fine financial well-being and far from failure. Additionally, Bank First National is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Bank First National Near Me

Bank First National has 19 branches in the U.S.

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