Bank First National Review

Bank First National Savings

0.10% APY

Established in 1894, Bank First National has assets totaling $4.22 billion as well as deposits totaling $3.47 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 26 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 Thursday, 8:30 a.m. to 5:00 p.m. CT; Friday, 8:30 a.m. to 5:30 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

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 3.02% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.15%. Given Bank First National's poor savings rate, you should contemplate opting for higher earning savings accounts with other banks.

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 $4.22 billion in assets as well as deposits totaling $3.47 billion. Bank First National has a very good Texas Ratio of 1.42%, 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 26 branches in the U.S.