We have compiled a list of our frequently asked questions regarding Certificate of Deposit Account Opening, Funding, Maturity and other relevant information that may be helpful.

 

CONTACT US:
By Phone:
517-679-6485
Monday-Friday from 8:30AM-5:00PM EST

By email:
ONLINEACCOUNTS@FNBA.COM

DISCLOSURES, RATES AND TERMS ARE AVAILABLE:

HOW DO I FUND MY NEW CD?

Accounts are funded via ACH transfer from a checking or savings account (please note we are not able to ACH transfer from a brokerage, annuity, or certificate of deposit account).

  • Please allow up to ten business days for the funds to be withdrawn from your external account
  • ACH funding will be requested on the date of account opening

WHAT ARE THE BALANCE REQUIREMENTS FOR OPENING A CD?

There is a $1,000.00 minimum opening requirement, and a $1,000,000.00 maximum limit for all Certificates of Deposits.

WHAT IS THE EARLY WITHDRAWAL PENALTY?

FNBA does allow partial withdrawals. The penalty charged is based on the term of your Certificate of Deposit. The penalty may result in a reduction of your principal balance.

  • 1-11 Months = 90 days of interest
  • 12-23 Months = 180 days of interest
  • 24-47 Months = 360 days of interest
  • 48-84 Months = 540 days of interest

Early withdrawal penalties are the same for online and in-branch Certificates of Deposits.

WHAT TYPES OF DEPOSIT ACCOUNTS CAN BE OPENED ONLINE?

We are unable to offer specialized accounts online (business, trusts, estates, power of attorneys, custodial accounts, health savings accounts, or individual retirement accounts).

ARE FIRST NATIONAL BANK OF AMERICA DEPOSIT ACCOUNTS FDIC INSURED?

Yes. First National Bank of America is a member of the FDIC. Your deposits are insured up to $250,000.00 per account holder, per ownership category. FDIC insurance calculation information is posted here: https://edie.fdic.gov/

IS MY INTEREST RATE SET ON THE DAY OF APPLICATION?

Certificate of Deposit account rates are set at account opening and fixed for the duration of the term.

ARE THERE MONTHLY FEES ASSOCIATED WITH MY CERTIFICATE OF DEPOSIT?

Certificates of Deposits do not have monthly fees

AM I NOTIFIED WHEN MY CD IS MATURING?

You will receive a maturity notice in the mail approximately 30 days prior to the maturity date of your Certificate of Deposit.

WHAT ARE MY OPTIONS WHEN THE CD MATURES?

There are multiple options available upon maturity:

  1. Take no action, your entire CD will rollover automatically for the same term at the rate currently offered
  2. Rollover your entire CD into a new term with the rates currently offered
  3. Withdraw part of your CD and roll the remainder over into a new term with rates currently offered
  4. Withdraw all of the funds in the CD

To request a withdrawal or rollover your existing CD:

CAN I ADD FUNDS TO MY CD?

You may only add funds to a Certificate of Deposit within the 10-day grace period at the time of maturity.

WILL I GET A HARD COPY OF MY CERTIFICATE OF DEPOSIT?

Hard copies of CDs are provided upon request. If you would like a hard copy of your Certificate of Deposit, please email onlineaccounts@fnba.com to request one.

CAN I GET INTEREST DISBURSEMENTS FROM MY CD?

Interest is compounded quarterly and will be added to the Certificate of Deposit at that time.

HOW WILL I GET MY 1099-INT?

Your 1099-INT will be mailed using the United States Postal Service.

CAN I USE THE SAME EMAIL ADDRESS AS ANOTHER ACCOUNTHOLDER?

No. For security and identification purposes, each accountholder must have separate email addresses.

DO ONLINE CDS HAVE DIFFERENT RATES THAN IN-BRANCH CDS?

  • No, CDs opened in branch or online have the same rates!

WILL I SEE MY CERTIFICATE OF DEPOSIT IN MY ONLINE BANKING?

  • If you are an existing customer, your new account will populate onto your online banking on the following business date after the date of account opening.
  • If you are a new customer, you will be issued online banking credentials to be able to view your new account on the business date following the date of account opening.

Please allow up to ten business days for the funds to be withdrawn from your external account and be deposited into your Certificate of Deposit.

I HAVE AN EXISTING CD THAT I OPENED ONLINE, HOW DO I APPLY FOR AN ADDITIONAL ACCOUNT?

  • Go to fnba.com/welcome
  • Click Login
    • This will be the Username and Password for your original application
  • Click Start A New Application

WILL I GET A MONTHLY STATEMENT?

No. You will receive an annual statement at the end of each calendar year for your Certificate of Deposit.

WHAT IS THE STATUS OF MY APPLICATION?

Please go to fnba.com/welcome