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First Security Bank and Trust Company review: Black-owned bank with free checking and savings accounts


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The bottom line: First Security Bank and Trust Company Free Checking Account is the only Black-owned bank in Oklahoma City. It has free checking and savings accounts, but you’ll need to look elsewhere to earn high interest rates.

Overall bank rating

Feature
Insider rating (out of 5)

Savings
3.75

Checking
3.75

CD
3.5

Money market account
3.5

Trustworthiness
5

Total
3.9

Pros and cons

Pros
Cons

Black-owned bank
Free checking and savings options

Only available in Oklahoma City
Low interest rates
No free overdraft protection
Limited to 3 withdrawals per month from your savings account

Savings
First Security Bank and Trust Company Savings Account

You may like the First Security Bank and Trust Company Savings Account if you want a savings account with no monthly fee. But you’ll pay a fee if you make more than three transactions per month. First Security also pays a low interest rate, and you can earn significantly more with a high-yield savings account.

Checking
First Security Bank and Trust Company Free Checking Account

The First Security Bank and Trust Company Free Checking Account has no monthly fees. But there’s no free overdraft protection, so you’ll pay $28 each time you overdraw.

CD
First Security Bank and Trust Company Certificate of Deposit

First Security Bank and Trust pays low rates on CDs, and you can earn more with an online bank. It also only offers terms up to 30 months, while many banks offer terms as long as 60 months, or five years.

Money market account
First Security Bank and Trust Company Money Market Account

You may prefer the First Security Bank and Trust Company Money Market Account to the regular savings account. The rate is a little higher, and you can order paper checks or a debit card for easier access to your savings. But you’ll still earn much higher rates with an online bank.

How First Security Bank and Trust Company works

First Security Bank and Trust Company Free Checking Account is a Black-owned bank with one branch in Oklahoma City, OK. There is one free ATM at the branch, and all ATMs at 7-Elevens are free.

To contact customer service, call Monday through Friday from 9:30 a.m. to 3:00 p.m. CT. Or call Saturday from 9:00 a.m. to 12:00 p.m. CT.

First Security Bank and Trust has a mobile app in the Apple and Google Play stores, but the app doesn’t have any online customer reviews yet.

Your deposits are FDIC insured for up to $250,000, or up to $500,000 for joint accounts.

Is First Security Bank and Trust Company trustworthy?

First Security Bank and Trust Company Free Checking Account does not have any recent public controversies.

Usually, we include Better Business Bureau grades when evaluating a bank’s trustworthiness. However, the BBB hasn’t graded First Security Bank and Trust yet. You may want to read online customer reviews or ask friends and family about their experiences with the bank.

How First Security Bank Bank and Trust Company compares to similar institutions

First Security Bank and Trust Company is the only Black-owned bank in Oklahoma. But we’ve …read more

Source:: Business Insider

      

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