First Tennessee Bank Rates & Review

First Tennessee Bank Review

Chartered in 1864, First Tennessee Bank has grown to become part of one of the 50 largest banking companies in the U.S. in terms of asset size and market capitalization.

First Tennessee Bank was chartered in Memphis in 1864, when the city was still under the military control of the Confederacy. Today, in 2010, First Tennessee Bank has grown to become part of one of the 50 largest banking companies in the U.S. in terms of market capitalization and asset size.

Checking and savings account options

Customers at First Tennessee Bank choose among personal checking account options including free, student, and premier checking programs, plus an account comparison widget which allows customers to compare account features.

Business checking account plans include BizEssentials Checking, which features 500 free transactions a month, and a business money market account which allows checking privileges while earning a competitive interest rate.

Savings account plans include CD accounts with competitive rates, managed asset accounts, and BizEssentials Savings featuring an automatic sweep feature designed to maximize interest earning ability.

Banking services

In addition to online banking and CD rates and fee comparison services, First Tennessee Bank offers a Private Client Services program designed for affluent clients with more complex financial needs. The service includes a direct relationship to a financial advisor, plus financial advising and Personal Advantage Banking.

First Tennessee Bank is known to feature promotions, including one offered in March 2010, which offered a $200 bounty to anyone opening a new checking account or savings account with the bank

Deposit insurance

First Tennessee Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

Compare savings account rates from First Tennessee Bank and more than 400 other banks at SavingsAccounts.com.