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This bank has a young life, but has the financial strength for you to join
First Republic Bank was founded in 1985 to offer personal banking, business banking and private wealth management, including investment, trust and brokerage services. It also provides residential, commercial and personal loans. With 78 offices located in California, Oregon, New York, Massachusetts, Connecticut, Florida and Wyoming.
Although its strength is in professional, business and investment wealth management, if you live in one of the above cities you may want to open a checking account with First Republic. Here the requirements :
- Personal information (name and date of birth)
- Social Security number
- Government-issued photo identification such as a driver’s license, passport, military or state ID
To open the account you must visit one of the First Republic Bank offices or you must call 888-408-0288.
Types of First Republic Bank checking accounts
First Republic Bank has three checking accounts to suit customers’ needs.
It is the basic account of First Republica Bank. You open it with a minimum balance of $25 and it has a monthly service fee of $3, so low that you don’t feel pressured to try to maintain a minimum balance. There is no fee for using the first eight cleared checks during the statement period. You will then be charged $1 for each check.
This account is opened with a minimum opening balance of $500 and a minimum average monthly balance of $2,500 must be maintained to avoid the $25 per month fee. You are not charged for the use of paychecks on this account.
The ATM Reimbursement Checking account is named after him because First Republic Bank not only doesn’t charge you any fees for using ATMs outside the bank’s network, but will also reimburse you for any fees the ATM owner charges you. This account is opened with a minimum balance of $500 dollars, charges you a fee of $25 dollars per month if you fail to maintain a minimum average monthly balance of $3,500 dollars.