Easy Savings Account

Interest Rates and Annual Percentage Yields are current as of  June 25, 2018. For current rate information call (847) 952-3700.

Account Features
  • Free First American MasterCard® debit card
  • Free Mobile and Online Banking
  • Free Online Bill payments
  • Free eStatements
  • Make up to 6 transfers or withdrawals per statement cycle; unlimited in person withdrawals
  • Access to over 55,000 surcharge-free Allpoint and Presto! ATMs

Account Opening and Usage
Minimum Deposit Needed to Open Account  
  Minimum balance to open is waived for Minor/Custodian accounts when the account holder is 18 years of age or less.
Monthly Fee  
  Monthly maintenance fees are waived for Minor/Custodian accounts when the account holder is 18 years of age or less.
Requirements to Waive Monthly Fee
Minimum daily balance
  Must be maintained every day of the statement period to avoid the monthly fee.
Excess Withdrawal Fee
in excess of 6 per month
  Per item
(including withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer, or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party.)
Interest Paid on Entire Balance if your Balance is:
Tier: $1.00 + Interest Rate   0.10  % Annual Percentage Yield (APY) 0.10 %
At First American's discretion, the interest rate and APY may change at any time. Interest is earned on the collected balance each calendar day using the daily balance method. This method multiplies the daily periodic rate times the collected balance plus any previously earned and unpaid interest compounding earnings daily. Interest earned is paid monthly. You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed APY. Interest earned and not paid will be forfeited when the account is closed unless the balance is transferred to another First American account. Interest will be reported to the IRS.
ATM Fees:
First American ATM Withdrawal  
Allpoint or Presto! ATM Withdrawal  
  Available to all MasterCard® debit card users with the exception of Health Savings Account customers. Look for the Allpoint and Presto! logos to ensure your transaction will be surcharge-free. The Allpoint ATM may display a surcharge-fee screen. Accept the surcharge and proceed with your withdrawal. You will not be charged the surcharge-fee.
Other ATM Withdrawal  
  At ATMs not owned by First American Bank or not on the Allpoint or Presto! Networks
ATM Balance Inquiry  
Additional Account Fees:
Paper Statement  
  Please see below (1).

Overdraft Options for Consumers
Standard Overdraft Fees
Overdraft Fee  $
  Per item. This item includes checks, in person withdrawals, ATM withdrawals, or by other electronic means as applicable that creates an overdraft.
Maximum Number of Overdraft Fees  
  Per day
Daily Overdraft Fee  $
  Every day the account is overdrawn, starting 3 days after the account is first overdrawn.
Option A: (Default)
No Overdraft Service
for Debit Card Transactions
  If you choose not to opt-in to any kind of overdraft service, debit card transactions that would cause an overdraft will be declined at no cost to you.
Option B: Overdraft Privilege Opt-In
Overdraft Service
for Debit Card Transactions
  Debit card transactions (purchases and ATM withdrawals) will be approved and you'll be charged our standard overdraft fee(s).
Option C: Account Link
Overdraft Service
through Linked Accounts
  Funds will be transferred from another First American checking, savings or money market account to cover the amount of the overdraft.
Overdraft Transfer Fee  $
  Per occurrence

Processing Policies
Posting Order
The order in which withdrawals and deposits
are processed
      Transactions may not be processed in the order they occurred. The order in which they are processed by us may affect the total amount of overdraft fees you incur. Any item that exceeds your available balance is an insufficient funds item. We may pay or return any insufficient funds item at our discretion. Regardless of the action we take, you may be charged an overdraft fee or return item fee. If at the close of any business day the available balance in your account is negative, you may be charged a continuous overdraft fee. See Schedule of Fees.
Rules and Regulations Governing First American Bank Governing Deposit Accounts (page 4)
Funds Availability Policy
When funds deposited to your account are available
      Our policy is to make funds from your check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits, wire transfers, and cash will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.
Rules and Regulations Governing First American Bank Governing Deposit Accounts (page 8)

Dispute Resolution
Dispute Resolution Agreement       You and we agree that any dispute arising under or relating in any way to your account or transactions will be resolved by binding arbitration as discussed in the document, and not through litigation in any court (except for matters in small claims court). This arbitration agreement is entered into pursuant to the Federal Arbitration Act, 9 U.S.C. §§ 1-16 ("FAA").
Rules and Regulations Governing First American Bank Governing Deposit Accounts (page 5)

We reserve the right to, at any time, require not less than 7 days notice in writing before any withdrawal from an interest bearing account.

(1) For accounts opened online: EStatements will automatically be selected. Please enroll in our Online Banking service to view your eStatements.

For accounts opened at a branch: To select eStatements, within the first 30 days after your account is opened you must enroll in our Online Banking service and accept our Online Banking Agreement which verifies your ability to access electronic statements and provides your consent to receive electronic statements. Once enrolled, you must log in and select “Profile”, then “eStatement Preference” and change the delivery option for each desired account to “Electronic”. If you fail to select eStatements within the first 30 days of account opening, or if an owner elects to receive paper statements at any time, a paper statement fee may apply. Please see the applicable Schedule of Fees.

Schedule of Fees

Rules and Regulations Governing First American Bank Deposit Accounts

Member FDIC

First American Bank
P.O. Box 0794
Elk Grove Village, IL 60009