Online Savings Frequently Asked Questions

Questions about First Foundation Bank

  • We are an FDIC-chartered bank with headquarters in Irvine, CA. Founded in 2007, we have been providing banking services to the builders and investors in our communities.

    From relationship banking to real estate financing, First Foundation Bank is there at every stage and at each moment you need us—and even when you don’t. Sophisticated solutions with personal service, we’re helping you live and share the life you’ve dreamed of.

    First Foundation is an extraordinary team of professionals united around a single cause: to enable growth-minded individuals and businesses to boldly live the life they imagined and preserve the legacy they’ve worked so hard to build—knowing we have their backs at every moment, especially the ones that matter.

    First Foundation Bank. With you, when it matters most. To learn more about all that we offer, please visit firstfoundationinc.com.

  • Yes. First Foundation Bank is an FDIC member, which means that funds deposited in your First Foundation Bank online savings accounts are insured up to the maximum allowed by law.

    The FDIC insures deposits according to ownership category (such as individual, joint, or accounts with beneficiaries). The current maximums are $250,000 in all your individual accounts combined, $250,000 per owner in all your jointly-owned accounts, and $250,000 in all the accounts where you are a named beneficiary.

    Our customers are not required to apply for or request coverage. However, to ensure your funds are fully protected, it’s important to understand your deposit insurance limits.

    To determine how much insurance is applicable to your accounts at First Foundation Bank and for any other FDIC insurance requirements that may apply, please visit the FDIC website at www.fdic.gov or call the FDIC directly at 1-877-ASK-FDIC (1-877-275-3342).

    At its website, the FDIC provides consumers with the Deposit Insurance Summary guide, the comprehensive Your Insured Deposits guide, and the Electronic Deposit Insurance Estimator (EDIE), an online tool you can use to calculate your actual FDIC insurance coverage. You can find the EDIE calculator at www.fdic.gov/edie.

  • Yes, First Foundation has 20 branch office locations across Southern California, Northern California, Hawaii, and Nevada. Once you have opened an online savings account—and if you are in proximity to any of our 20 locations—you may visit any of these branches for additional support. To see if there is a location near you, please visit: https://www.firstfoundationinc.com/find-location

  • Existing clients can open an online savings account through our 5-step account opening process available online. Please note that this account can only be opened online and funds from existing accounts with First Foundation Bank do not qualify for the published rate of the Online Savings Account. If you have a current savings account with First Foundation Bank and you open an account online, you will receive consolidated statements for each of your First Foundation Bank savings accounts. 

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Questions about fees and balances

Questions about the application process and online savings account

Questions about getting started after application approval

  • Once your account has been opened and funded, navigate to firstfoundationinc.com. Click the green Sign In button in the top right of our homepage and then “Enroll Now” under “Personal Banking.” Alternatively, you can enroll on the homepage of our mobile app by selecting “First Time User? Enroll Now.”

    Fill out all the requested information and then click “Begin enrollment.” You will be presented with questions from your public record to verify your identity. Once these have been successfully answered, accept the terms and conditions, establish your username and password, and set up your challenge questions and answers.

  • You can log into your account by using the Sign In button at the top right of our homepage, https://www.firstfoundationinc.com/

    You can also access your account through our mobile app, available here: 

    Apple App Store

    Google Play

  • There are three ways to deposit money into your First Foundation Online Savings Account: 

    1. Use the check deposit feature in the First Foundation Bank Mobile app.
    2. Transfer funds from an external account in your online banking or mobile app.
    3. Visit any of our 20 branch locations.

  • All online savings accounts are automatically enrolled in paperless statements. You can access your paperless statement by logging into your account by using the Sign In button at the top right of our homepage, https://www.firstfoundationinc.com/

  • Six preauthorized withdrawals/transfers or checks are allowed per statement cycle. Transactions exceeding those allowable per statement cycle are subject to excess withdrawal fees.

  • All online savings accounts are automatically enrolled in paperless statements. 

  • There is a daily ATM limit of $500 and daily POS limit of $1,500. We reimburse ATM fees imposed by other banks and ATM operators up to $20 per transaction at any ATM in the country, with no monthly reimbursement limit.

  • We can provide the Routing number and your account number to provide to your employer.

  • The daily limit for mobile deposits is $5,000.

  • Yes, we will attempt to send email notifications for rate changes to your email on file.

  • Deposits made by check, mobile deposit, and in-person branch deposit for the first 30 days after account opening will be subject to an extended new account hold. We will always tell you when a hold is placed on your account.

  • Make your check payable to the name on your account. DO NOT make the check payable to First Foundation Bank—this will cause delays in posting to your account and possibly cause your check to be returned. In the memo line of your check, please also include your Online Savings account number.

    Our check funding mailing address is:

    First Foundation Bank
    2101 Rosecrans Ave. Suite 4260
    El Segundo, CA 90245

  • Your statement will show the Annual Percentage Rate (APR) instead of the Annual Percentage Yield (APY). APR looks slightly lower than APY because it does not include compounded interest. When comparing savings accounts, you will almost always see APY used since it includes your compounded interest, while your statement will show the APR. SmartAsset has written a helpful blog post on the topic here.

Questions about funds access and transfer limits

  • You can fund your account with balances up to $3,000,000. Once the account is opened, we will send you a welcome packet with instructions on how to fund your account. You can fund your account by initiating a transfer from your other bank, check, wire, or by bringing cash into one of our branches.

  • Yes, the six transfer rule from banking Regulation D applies to online savings accounts. Transfers in person are unlimited.

  • Currently our fee for excess withdrawals is $20 per item.

  • After you enroll for online banking, you can set up external transfers to move funds to or from your accounts at other financial institutions.

  • Any electronic transfer or withdrawal that reduces your account balance, initiated by First Foundation Bank or any other institution, counts toward the federal transaction limits.

  • To ensure the safety of all accounts at First Foundation Bank, we may place certain limits on automatic transfers from your account. Rest assured there are two easy ways you can still access your money. It is never our intent to keep you from accessing your own money. 

    1. Call us. We will gladly help figure out the best way to transfer more money than our stated limits. This might require some additional security measures, which are in place to make certain “you are you” and that the money is going where it is intended. 

    2. Initiate the transfer from the other institution you would like the money moved to. Oftentimes larger banks have higher transfer limits. Given they are so large and clients can be just numbers to them, they are able to blanket their accounts with insurance to protect against losses. This insurance does not help make things more secure for you, but protects their own interests against fraudulent behavior.

  • If you decide to fund your account using a wire from another financial institution, First Foundation Bank will waive the incoming wire fee. You are still responsible for any fees related to sending the wire from your other financial institution.

  • Online external transfers are preset to be limited to $5,000 per day and $10,000 per month. We are unable to increase this limit for the first 60–90 days your account is open while we get to know each other a little better. We do not place any limits on the amount you can send or withdraw when initiated from your other financial institution. 

    We know there are times when you might need access to more money, so if you need to withdraw more than the preset limit, you can easily do so by contacting our team at 888-405-4332 and we will work together to accommodate a solution.

    If you have multiple accounts at First Foundation Bank, there is no limit to the amount of internal transfers you can process between your accounts.

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Deposit and loan products offered by First Foundation Bank, Member FDIC and Equal Housing Lender.

Investment and Advisory Services provided by First Foundation Advisors, an SEC-Registered Investment Advisor. Trust Services and Insurance Services are offered through First Foundation Bank. First Foundation Insurance Services license number #0H38553.

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