What First Tennessee Bank charges for checking accounts

First Tennessee Bank does charge monthly maintenance fees on most checking accounts, but the amount depends on which account you open. The bank's standard checking account carries a $12 monthly fee, though this fee can be waived if you meet certain conditions like maintaining a minimum balance or setting up direct deposit.

First Tennessee also offers a no-fee checking option called eBanking Checking, which has no monthly maintenance fee at all. This account is designed for customers who are comfortable managing their account primarily online rather than visiting a branch.

The bank also offers accounts aimed at specific groups—such as students or seniors—which may have different fee structures. Because First Tennessee Bank has been acquired by First Horizon Bank, account names and fee structures may be in transition, so confirming current terms directly with the bank is important before opening an account.

Key Takeaways

  • First Tennessee Bank's standard checking account charges a $12 monthly maintenance fee unless you meet waiver requirements.
  • The eBanking Checking account has no monthly fee and is available to customers who manage their account online.
  • Direct deposit or maintaining a minimum balance can waive the monthly fee on standard checking accounts.
  • Account terms may be changing due to First Horizon Bank's acquisition, so confirm current fees before opening an account.
  • Specialty accounts for students, seniors, or other groups may have different fee structures than standard checking.

How to waive the monthly maintenance fee

If you have First Tennessee Bank's standard checking account, you can avoid the $12 monthly fee by meeting one of these conditions: setting up a direct deposit of at least $500 per month, maintaining a minimum daily balance (the amount varies by account type), or maintaining a minimum average monthly balance. Some accounts also waive the fee if you maintain a combined balance across multiple accounts at the bank.

The specific balance requirement and direct deposit threshold depend on which checking product you hold, so you should review your account agreement or call the bank to confirm what applies to your account. If you already have an account and are being charged the fee, asking whether you meet any waiver criteria is worth doing—sometimes the bank's records may not reflect a recent direct deposit setup.

Fees beyond the monthly maintenance charge

First Tennessee Bank charges additional fees for specific actions or circumstances. Overdraft fees explore when you spend more than your account balance, and the bank charges a fee per overdraft transaction (the amount varies). If your account stays overdrawn for several days, you may face additional daily fees.

Other common fees include charges for stopping a check, requesting a cashier's check, wire transfers, and using an out-of-network ATM. Some of these fees are charged by First Tennessee directly; others may be charged by the ATM operator's bank. Excessive ATM usage at non-First Tennessee machines can add up quickly, so using the bank's own ATM network when possible reduces costs.

The bank may also charge fees for closing an account within a certain timeframe after opening it, though this varies by account type. Review your account agreement or contact the bank for a complete list of fees that may explore to your specific account.

eBanking Checking as a fee-free alternative

First Tennessee Bank's eBanking Checking account has no monthly maintenance fee and no minimum balance requirement. This account is designed for customers who are comfortable handling most or all of their banking online through the bank's website or mobile app, rather than visiting a physical branch.

With eBanking Checking, you still have access to a debit card, can set up direct deposit, and can make transfers and payments online. You can also visit a branch or call customer service if you need help. The main trade-off is that some in-person services may be limited or require a phone call to arrange, and you won't have a physical checkbook unless you request one (which may carry a small fee).

If you rarely visit a branch and prefer managing money online, this account can save you the $12 monthly fee that the standard checking account charges. However, confirm that this account is still being offered under First Horizon Bank's ownership, since account products sometimes change after a merger.

What changed after First Horizon Bank's acquisition

First Horizon Bank acquired First Tennessee Bank, which means account structures, fees, and product names may be changing or have already changed. Some First Tennessee checking accounts may be consolidated into First Horizon products, and fee structures may shift as a result.

If you currently have a First Tennessee checking account, contact the bank directly to confirm whether your account terms remain the same or whether you need to move to a different product. If you are considering opening a new account, ask specifically whether you are opening a First Tennessee account or a First Horizon account, because the fee structure may differ between the two.

The bank should provide you with written notice of any changes to your account terms, including fee changes, but it is worth confirming the current state of your account rather than assuming fees have remained unchanged.

How overdraft fees work at First Tennessee Bank

When you spend more money than you have in your account, First Tennessee Bank charges an overdraft fee for each transaction that goes negative. The fee amount depends on your account type, but typically ranges from $25 to $35 per overdraft transaction. If multiple transactions overdraw your account on the same day, you may be charged multiple overdraft fees.

If your account remains overdrawn for more than a few business days, the bank may charge an additional daily fee (sometimes called an extended overdraft fee or sustained overdraft fee) until the account is brought back to a positive balance. These fees can accumulate quickly, so addressing an overdraft as soon as you notice it is important.

Some banks offer overdraft protection, which links your checking account to a savings account or credit line so that transfers happen automatically if you overdraw. Ask First Tennessee Bank whether this option is available on your account, as it can prevent overdraft fees entirely if you have funds available in a linked account.

Comparing First Tennessee checking to other banks

First Tennessee Bank's $12 monthly fee on standard checking is higher than some banks but lower than others. Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance requirement. However, these banks may have trade-offs: fewer physical branches, limited customer service hours, or fewer ATM locations.

If you value having a physical branch nearby and prefer in-person banking, First Tennessee's fee may be worth paying. If you are comfortable banking online and want to avoid monthly fees, the bank's eBanking Checking account or a competitor's no-fee checking product may be a better fit.

Before switching banks, consider how you actually use your account: how often you visit a branch, whether you need customer service by phone, and whether you use ATMs frequently. A bank with a monthly fee but convenient branches may cost less overall than a no-fee bank that charges high ATM fees or requires long phone waits for customer service.

Frequently Asked Questions

Can I get the monthly fee waived without direct deposit?

Yes, if you maintain a minimum daily balance or a minimum average monthly balance. The specific amount depends on your account type. Contact First Tennessee Bank to confirm the balance threshold for your account, or review your account agreement.

Does First Tennessee Bank charge for using ATMs outside their network?

Yes. Out-of-network ATM fees are charged by the ATM operator's bank, not by First Tennessee directly, but you will see the charge on your statement. Using First Tennessee's own ATM network avoids these fees. Some accounts may offer a limited number of free out-of-network ATM transactions per month.

What happens if I close my First Tennessee checking account right after opening it?

Some banks charge a fee for closing an account within 90 days or 180 days of opening it. First Tennessee Bank may have a similar policy, though the timeframe and fee amount vary by account type. Ask before opening an account if you think you might close it soon.

Is eBanking Checking still available after the First Horizon acquisition?

eBanking Checking was available under First Tennessee Bank, but product names and availability may change under First Horizon Bank's ownership. Contact the bank directly to confirm whether this account is still being offered and what the current terms are.

Do I have to pay overdraft fees if I opt out of overdraft protection?

Opting out of overdraft protection means transactions will be declined rather than allowed to overdraw your account, so you won't incur overdraft fees. However, a declined transaction may still result in a fee from the merchant or your employer if it is a payroll deposit. Ask First Tennessee Bank about your overdraft options before deciding.