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FirstFedDirect sm is a division of First Federal Bank of California
established solely to service
Internet banking client relationships from all states other than California.
FirstFedDirect sm deposits are FDIC-insured up to the maximum amount
allowed by law - $100,000 per individual depositor. (For more information
about FDIC insurance coverage, visit www.fdic.gov/deposit.) |
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The Federal Deposit Insurance Corporation (FDIC) provides insurance
on all FirstFedDirect sm deposits up to $100,000 per individual depositor,
the maximum amount allowed by law. (For more information
about FDIC insurance coverage, visit www.fdic.gov/deposit.) In addition, First Federal Bank
of California, with $10 billion in assets, has been a leading provider
of financial services for over 76 years and is the third largest Los
Angeles-based financial institution according to data compiled by
the FDIC. |
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FirstFedDirect sm provides two easy and convenient ways to open your
account – either online or by mail. To get started online, click
here; to open an account by mail, click here. For questions, call (888) 838-5460. |
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Absolutely. FirstFedDirect sm uses encryption for online security.
Encryption technology helps provide secure transmission of information
along the Internet by encoding the transmitted data using a mathematical
formula to scramble the data. Without a corresponding “decoder,”
the transmission would look like nonsense text and would be unusable. |
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Yes, you can. When you open your account online, you will see a
prompt advising you how to designate a beneficiary if you so choose,
and if you apply by mail, you can write-in a designated beneficiary
on your application form. |
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Your initial deposit must be made by check. Once your account is
opened and funded, you can make additional deposits either online,
via transfers from your linked checking account and FirstFedDirect's sm
automated clearing house, or by mailing your deposits to the attention
of Deposit Services, First Federal Bank of California, P.O. Box 471,
Santa Monica, CA 90406-9960. |
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The checking account used to make your initial deposit becomes your
linked account and anytime you want to make a withdrawal, you can
transfer funds electronically between your Internet Advantage Savings
Account and your linked account. Transfers are made via the Automated
Clearing House (ACH) and typically take 2 to 3 business days. |
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Generally, your initial deposit will have an 8 business day hold
before any funds can be withdrawn. Future deposits may generally be
withdrawn after 5 business days. |
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The interest rate and annual percentage yield (APY) are compounded
daily on a 365/365 (366/366 leap year) basis. Check deposits will
begin to accrue interest the next business day. Interest is normally
paid on a quarterly basis. |
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Yes. You will receive a monthly statement showing all of your account
activity. |
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You can view your account information online via FirstFedOnline sm.
To view your account, go to www.firstfedca.com and click on the CLIENT
ONLINE BANKING link. Once you enroll in the service, which is done
just by creating a user ID and password, you’re ready to go,
and can view your account information anytime, 24/7, day or night. |
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Once you enroll in FirstFedOnline sm, you can request regularly-scheduled
transfers by completing the FirstFedDirect sm transfer request in the
self service section. |
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