First National Bank Alaska Review: A Strong Choice for Alaska Residents

Open a Direct Deposit Checking account and enjoy unlimited free transactions with no minimum deposit.

First National Bank Alaska offers a full suite of financial products — from checking and savings to money markets and certificates of deposit (CDs) — paired with personalized service and strong digital banking tools. With locations across the state, it provides convenient options for customers who prefer a local, community-focused bank.

Founded in 1922, First National Bank Alaska has deep roots in the state and a long history of understanding the unique needs of local individuals and businesses. With more than two dozen branches across Alaska, the bank combines personalized, community-focused service with secure and convenient online and mobile banking options.

First National Bank Alaska Checking Accounts

First National Bank Alaska offers six different checking accounts. If you have at least one direct deposit a month, the Direct Deposit Checking account’s monthly fee is waived. You’ll also get unlimited check writing, ATM and ACH withdrawals, debit card purchases and more. First National Bank Alaska also offers interest-earning accounts, ones for college students, teens and military members.

First National Bank Alaska Checking Accounts

Start Banking

Best For

Banking in Alaska

Mobile App

Business Banking

Loan Options

Low Monthly Fees

No Minimum Deposit Requirements

First National Bank Alaska offers six checking accounts, all with low fees under $10 and waived with either a direct deposit, electronic statements or a specific minimum daily balance, depending on the amount.

Fees

$5 to $9 waivable monthly service fee

APY

Min Opening

$0

Pros

• Fees easily waived
• Apple Pay and online bill pay capabilities
• Connect with Zelle

Cons

• Low rates on interest-earning accounts
• Monthly fees

Quick Take

If you’re looking for a regional checking account with a robust mobile app and digital banking capabilities in Alaska, consider First National Bank Alaska. 

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First National Bank Alaska Savings Accounts

First National Bank Alaska has three savings accounts: Personal, First Tier and a Youth Uniform Transfers to Minors Act (UTMA) account. Although some of the accounts have no opening deposits, the interest rates are low.

First National Bank Alaska Savings Accounts

Start Banking

Best For

Banking in Alaska

Mobile App

Low Monthly Fees

Loan Options

Business Banking

Tiered Savings Rates for Different Account Balances

All three of First National Bank Alaska’s savings accounts have tiered rates. They are best for people with larger amounts of money who want to keep their funds in the account for an extended time frame.

Fees

$3 to $20 monthly service fee, can be waived

APY

Up to

Min Opening

$0 to $7,500

Pros

• Easy to waive fees by meeting minimum balance requirements
• Earn more interest with a higher balance

Cons

• Fees for excessive debit card use
• High minimum opening deposit for First Tier savings
• Can get better interest rates with other online banks

Quick Take

Fees for debit card use and relatively low interest rates mean that First National customers may want to consider other ways to save. 

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First National Bank Alaska CD Accounts

The First National Bank Alaska offers CDs with terms from 30 days up to 60 months, with yields as high as . Their CD rates are much higher than their savings account rates.

First National Bank Alaska CD Accounts

Start Banking

Best For

Banking in Alaska

Mobile App

Low Monthly Fees

Loan Options

Business Banking

Min. Balance to Earn APY $750

The First National Bank Alaska offers CDs with terms from 30 days up to 60 months, with yields as high as . You can open a CD with as little as $750, making this a better choice than a National Bank Alaska savings account. 

Fees

No monthly service fee

APY

to

Min Opening

$750

Pros

• Yields higher than the national average
• Variety of terms 
• Low minimum balance requirements
• Can roll your interest into your account or back into the CD

Cons

• Early withdrawal penalties
• Keeps money tied up for at least 30 days 
• No debit card access

Quick Take

With yields as high as , a First National Bank Alaska CD can help you plan ahead and save for a trip or a major purchase.

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First National Bank Alaska Money Market Accounts

First National Bank Alaska offers two money market accounts. Both accounts have tiered interest rates, based on how much money you have saved.

First National Bank Alaska Money Market Accounts

Start Banking

Best For

Banking in Alaska

Mobile App

Low Monthly Fees

Loan Options

Business Banking

Money Market Account Options

First National Bank Alaska offers two money market accounts designed for savers with moderate to high balances. The First Investment account has no minimum opening deposit, while the Super First Investment account requires $25,000 and offers slightly higher tiered APYs.

Fees

$9 to $24 waivable monthly fee

APY

Up to

Min Opening

$0 to $25,000

Pros

• Keeps money secure
• Six free debit transactions per month
• Tiered rate based on balance for Super First account

Cons

• Monthly service charge
• Transaction fees on debits exceeding six per month
• Can find higher interest rates elsewhere

Quick Take

The First Investment money market account provides more flexibility than First National’s savings account, thanks to check access and additional free debits. However, the best rates require large balances, and transaction fees make these accounts better suited for savers who want to park money rather than use the account for everyday spending.

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Banking Experience

The bank’s business hours are 8 a.m. to 5 p.m. on weekdays, and 9 a.m. to 4 p.m. on Saturdays. If you need assistance, you can call 800-856-4362 during those hours.

First National has a mobile app accessible on the App Store and Google Play. The Google Play app has an average rating of 4.6 stars, with one positive reviewer noting the app is “Simple but works for almost all my banking needs.” The app received an even higher rating of 4.7 stars in the App Store, indicating general customer satisfaction with the online banking tool.

Comparable Regional Bank Options

Before you open a new bank account, make sure you shop around to find a financial institution that meets your needs.

Checking

Savings

First National Bank Alaska

First National Bank Alaska Checking Accounts

Start Banking

Most Comparable

4.3

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Wells Fargo Everyday Checking Account

Read Review

Most Comparable

First Bank of Alaska Checking Account

Read Review

Fees

Fees

Fees

$5 to $9 waivable monthly service fee

$5 to $35 waivable monthly fee

$0 to $10 monthly

APY

APY

APY

Up to

Up to

Min Opening

Min Opening

Min Opening

$0

$25

$1 to $200

First National Bank Alaska

First National Bank Alaska Savings Accounts

Start Banking

Most Comparable

Wells Fargo Savings Account

Read Review

Most Comparable

First Bank of Alaska Savings Account

Read Review

Fees

Fees

Fees

$3 to $20 monthly service fee, can be waived

Up to $12 monthly service fee – can be waived

$0 to $15 monthly

APY

APY

APY

Up to

Up to for Platinum Savings accounts

Up to

Min Opening

Min Opening

Min Opening

$0 to $7,500

$25

$50 to $15,000

First National Bank Alaska vs. Wells Fargo

Wells Fargo is one of the largest banks in the U.S. and has an extensive presence in Alaska, with more than 45 offices and over 100 ATMs statewide. It offers a wide range of account options, including interest-bearing checking, along with robust digital tools and nationwide accessibility, making it a convenient choice for customers who want both local and national reach.

First National Bank Alaska vs. Northrim Bank 

Northrim Bank offers checking, savings, money market and CD accounts with low monthly fees that are easy to waive. With access to Northrim ATMs and the nationwide MoneyPass network, it’s a convenient choice for customers who want broad ATM availability.

First National Bank Alaska vs. First Bank of Alaska

Although similar in their names, First Bank of Alaska and First National Bank of Alaska are different financial institutions that both offer checking, savings, and money market accounts. In lieu of CDs, First Bank offers something called “time deposits” with fixed rates and early withdrawal penalties. For those who prefer online and mobile banking, First Bank offers an all-electronic checking account with a low monthly fee that’s easily waived. 

Final Take 

First National Bank Alaska is best for Alaska residents seeking a local bank with straightforward checking and savings products and a user-friendly mobile app.

Rudri Patel contributed to the reporting for this article.

GOBankingRates analyzed the 100 largest banks by total assets, as well as select online banks with over $800 million in assets, to determine the Best Banks of 2026. Data was sourced from 2025 FDIC reports, along with a selection of leading neobanks. For savings and checking accounts, we chose only one product per category per institution. If an institution did not offer a given product, it was not scored.

For institutions with multiple checking accounts, we selected fee-free options or those with the lowest barrier to entry. If there were multiple fee-free checking accounts, we selected the account with the highest APY or the lower monthly fee. For institutions offering multiple savings accounts, we chose the account with the lowest monthly fee, provided it required a minimum deposit of $20,000 or less. If multiple savings accounts met these criteria, we selected the one with the highest APY.

All APYs were calculated based on the base APY being offered, achievable or both. To be deemed a “winner” in a product category (Checking, Savings, CDs, or Money Market Accounts), an institution needed more than $5 billion in total assets to demonstrate the ability to handle rising interest rates, exposure to commercial real estate and growing liquidity requirements.

To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Oct. 4, 2025, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 4, 2025.

To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.

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