First Horizon Bank Review: Community-Focused Banking For Every Customer

GOBankingRates Score

Our Take: First Horizon Bank is a good option for people looking for a community-focused bank that can meet their financial needs. The bank does charge monthly maintenance fees but gives customers a way to get them waived.
  • Rates
  • Fees
  • Customer Service
  • Digital Experience
How did we calculate this?


  • Variety of checking and savings options
  • Community-focused feel
  • Many digital banking features


  • Higher APYs may be available elsewhere.
  • The bank charges fees, though they can be waived by making direct deposits or maintaining a minimum average daily balance.

About First Horizon Bank

First Horizon Bank, formerly known as First Tennessee, is headquartered in Memphis, Tennessee. The bank specializes in commercial lending, wealth management and regional banking.

First Horizon offers a wide variety of personal banking services, including checking, savings, a money market account, and CDs. But the rates offered by the bank do tend to be lower than what other financial institutions offer. In addition to this, GOBankingRates has ranked it as one of the Best Regional Banks of 2021 in its yearly rankings.

However, First Horizon’s banking products come with a number of useful features, including mobile banking, budgeting tools and account alerts.

First Horizon Bank Products

Here’s a quick look at the products First Horizon Bank offers.

Type Best For
Wide variety of accounts offered Access to a nationwide network of Allpoint ATMs
Rewards program for checking and savings $50 minimum opening deposit, options for waiving monthly fees
Robust digital banking tools $50 minimum opening deposit, tiered interest rates
Earning cash-back bonus on checking accounts $1,000 minimum opening deposit, terms from 1-60 months

First Horizon Bank Checking Accounts

First Horizon offers several different types of checking accounts, depending on your current needs. For example, the bank’s FirstView Checking is a good option if you’re looking for a basic checking account with no monthly fees. And if you also open a savings account, you’ll get access to free cash withdrawals at 43,000 ATMs nationwide.

If you need a more robust checking account, consider SmartView or TotalView checking, which pay interest. All First Horizon accounts come with mobile banking and a Visa debit card.


  • $50 minimum opening deposit
  • FDIC-insured
  • Access to more than 43,000 nationwide Allpoint ATMs
  • Zero monthly fees for FirstView Checking
  • Waivable monthly fees on other checking accounts


  • Free mobile banking
  • Free online banking
  • Access to a wide network of Allpoint ATMs


  • Monthly fees on some checking accounts

First Horizon Bank Savings Account

You’ll need a minimum deposit amount of $50 to open a traditional savings account at First Horizon. If you’re able to maintain a $250 minimum daily balance, you can avoid the quarterly maintenance fee.

You can link your savings account to your checking as a form of overdraft protection. Plus, the account is FDIC-insured for up to $250,000, so you’ll know your money is safe.


  • Minimum $50 deposit amount required to open the account
  • Quarterly maintenance fee of $5
  • 0.01% APY
  • FDIC-insured
  • Access to mobile and online banking


  • Quarterly maintenance fee waived if you maintain a $250 minimum daily balance
  • Automatic savings option
  • Access to 43,000 Allpoint ATMs


  • Relatively low APY; better savings rates may be found elsewhere.

First Horizon Bank Money Market Account

In many ways, First Horizon’s money market account works a lot like a traditional savings account. You can get started for just $50, which makes it fairly accessible for the average banking customer. Plus, the account features tiered interest rates, so you’ll earn more money in interest as you save more.


  • $50 minimum opening deposit
  • $0-$24,999: 0.01% APY
  • $25,000-$49,999: 0.02% APY
  • $50,000-$99,999: 0.03% APY
  • $100,000-$249,999: 0.05% APY
  • $250,000 and over: 0.10% APY


  • Low minimum opening deposit
  • Options to waive monthly fee
  • Tiered interest rates based on daily balance


  • Relatively low APY; better rates may be found elsewhere.

First Horizon Bank CD Accounts

First Horizon offers a number of different CDs to choose from. You’ll need a minimum of $1,000 to open the account. And the money won’t be as easily accessible as a savings or money market account. If you need to take the money out early for some reason, you’ll face an early withdrawal penalty.


  • Minimum deposit amount of $1,000
  • 30, 60 or 90 days: 0.02%
  • 180 or 270 days: 0.25%
  • 12 months: 0.30%
  • 24, 36, 48 or 60 months: 0.25%


  • Wide variety of terms and rates available
  • No monthly fees


Banking Experience

One of the appeals of banking with First Horizon seems to be the community focus. The bank has received high marks for its customer service and currently has an A+ rating with the Better Business Bureau.

You’ll need at least $50 to open most accounts, and many of these accounts come with a monthly service fee. However, it is possible to have the fee waived by meeting certain requirements.

The bank provides free resources on topics like budgeting and creating a savings plan to help its customers manage their money more effectively. Plus, you can easily manage your money with mobile and online banking.

How To Open an Account

Opening a new account with First Horizon Bank is simple. Here are the steps you’ll take.

  • Visit your local branch: You can open the account in person by visiting your local branch or set up the account online.
  • Provide the necessary information: You’ll need to provide information such as your driver’s license number, Social Security number and relevant contact information.
  • Fund your account: First Horizon allows you to transfer funding from another First Horizon account you own, an account at a separate bank or a debit or credit card. Once your account is set up, you’re free to make deposits and use your Visa debit card.

Key Information

Customer Service: 800-382-5465

Routing Number: 084000026

Promotions: See Newest First Horizon Bank Promos and Bonuses

First Horizon Bank Fees

First Horizon, like other banks, charges fees. Here’s what you need to know.

Fee Type Fee Amount
Monthly Maintenance Fees $0-$40, depending on account
Overdraft Fees $37 per item
Wire Transfer
  • Domestic and international incoming: $15
  • Domestic outgoing: $25
  • International outgoing: $55
NSF Fee $37

All monthly maintenance fees can be waived by meeting certain minimum balance requirements.

First Horizon Bank vs. Competitors

Bank Best For
First Horizon Bank Wide variety of accounts offered
Regions Bank Rewards program for checking and savings
Bank of America Robust digital banking tools
SunTrust Bank Earning cash-back bonus on checking accounts

Final Take

First Horizon bank is a good option for people who are looking for a combination of in-person and online banking options. The bank is community-focused and offers a wide variety of accounts to choose from. It’s easy to get started and set up your account online.

Editor’s Favorite

First Horizon offers banking products for customers along every step of their financial journey. The accounts do come with monthly maintenance fees, but the bank provides an option for customers to have them waived.

First Horizon Bank FAQ

Here are the answers to some commonly asked questions about First Horizon Bank.
  • Is First Horizon the same as First Tennessee?
    • First Tennessee was rebranded as First Horizon Bank in 2019.
  • Is First Horizon a national bank?
    • Yes! First Horizon it is a national bank.
  • How many branches does First Horizon have?
    • The bank has 250 branch locations.
  • Does First Horizon Bank have free checking?
    • Yes; there is no monthly fee associated with the FirstView Checking account. You will need $50 to open the account.
  • What time does First Horizon deposit?
  • Does First Horizon Bank offer free money for signing up for an account?
    • No, not at this time. But the bank does periodically offer promotions. For instance, in November, the bank offered a $400 bonus for new accounts with direct deposit.

Rates are subject to change. Information on accounts is accurate as of Dec. 8, 2020.

This content is not provided by First Horizon Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by First Horizon Bank.

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About the Author

Jamie Johnson is a freelance writer who covers a variety of personal finance topics, including investing, loans, and building credit. In addition to writing for GOBankingRates, she currently writes for clients like Quicken Loans, Credit Karma, and the US Chamber of Commerce. 

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