The First National Bank of Long Island was first established as the The First National Bank of Glen Head in 1927, after many North Shore farmers and small business owners were having to travel about 30 miles from Glen Head, Long Island to New York City to do their banking.
Local residents came together to raise $50,000 in capital to open this first location, and its second branch eventually opened in Roslyn, N.Y. in 1956, followed by several more locations throughout Nassau and Suffolk counties on Long Island, as well as in Manhattan. In 1978, the bank officially changed its name to its current one, The First National Bank of Long Island.
Today, the bank offers a wide selection of personal deposit accounts, including checking, savings and money market accounts. Read on to learn if these accounts will fit your banking needs, and how they compare with the competition.
The First National Bank of Long Island checking account options
First Class Banking Package
- Minimum opening deposit: $50
- Monthly account maintenance fee: $35
- ATM fee: None; $1.75 for outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
This package is a combination of a checking and savings account, which does have the ability to earn interest, though you will need to contact the bank to find out the rates.
It also comes with free standard personalized checks, unlimited check writing, free check images, free ATM withdrawals on both in-network and out-of-network ATMs when minimum balances are maintained (there’s no requirement for the checking account, but it’s $3,000 for the savings account), a debit card with the potential to earn shopping rewards and free travelers checks.
Free Checking
- Minimum opening deposit: $50
- Monthly account maintenance fee: None
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
This account does not have the ability to earn interest. However, it does come with a low opening deposit requirement, and no monthly service charges or minimum balance requirements. It also provides a free first order of 50 standard personalized checks, a debit card offering shopping rewards, unlimited check writing and free check images.
Regular Checking
- Minimum opening deposit: $50
- Monthly account maintenance fee: $12; can be waived with minimum balance of $750
- ATM fee: None; $1.75 on outside bank ATMS
- ATM fee refund: None
- Overdraft fee: $38
Senior Checking
- Minimum opening deposit: $50
- Monthly account maintenance fee: $12; can be waived with minimum monthly balance of $250
- ATM fee: None; $1.75 on outside bank ATMS
- ATM fee refund: None
- Overdraft fee: $38
Student Checking
- Minimum opening deposit: $25
- Monthly account maintenance fee: $5; can be waived with minimum monthly balance of $25
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
This non-interest bearing student account is available to students ages 13 to 23. Those ages 13 to 17 need to open the account jointly with a parent or guardian. The account holder will need to be sure to transfer the account’s funds to another account before his or her 24th birthday.
This account also requires the owner to receive statements electronically, Otherwise, the minimum opening deposit and balance requirement are extremely low, and the account comes with a free debit card with the potential to earn shopping rewards, a free first order of 50 personalized checks, unlimited check writing and free check images.
Personal Advantage Checking
- Minimum opening deposit: $50
- Monthly account maintenance fee: $20; can be waived with minimum monthly balance of $3,000
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
This interest-bearing checking account has many of the same benefits as the bank’s other checking accounts, though it has a pretty steep minimum balance requirement to avoid its monthly fee. You’ll need to contact the bank to obtain the current rate.
The account also offers 50 free checks, unlimited check writing, free check images and a debit card with the potential to earn rewards.
Budget Checking
- Minimum opening deposit: $25
- Monthly account maintenance fee: $3; additional fee of $9 if you exceed 8 withdrawals in a month
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
This basic checking account has a low opening deposit and no minimum deposit requirement. It also comes with a low monthly fee, as well as an additional fee if you exceed eight withdrawals in a month, though that shouldn’t be too difficult to avoid. This account also comes with 50 free checks, and a debit card with the potential to earn rewards.
How to get The First National Bank of Long Island’s checking accounts
All of The First National Bank of Long Island’s checking accounts must be opened in person at a branch. Visit the website to find the location nearest you.
How The First National Bank of Long Island’s checking accounts compare
The First National Bank of Long Island offers several checking accounts, many of which are able to earn interest, and many with minimal fees and requirements. However, to truly determine if one of these accounts is the best on for you, you should contact the bank to find out available rates and see if they truly stack up against those on our list of the best online checking accounts.
The First National Bank of Long Island savings account options
Platinum Savings
- Minimum opening deposit: $150,000
- Minimum balance to earn APY: $2,500
- Monthly account maintenance fee: $10; can be waived with minimum monthly balance of $150,000
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
The First National Bank of Long Island advertises this account as being beneficial for affluent customers. It has a pretty steep minimum opening deposit requirement and minimum balance requirement to avoid the monthly fee. In comparison, its minimum balance to earn interest appears to be on the low end. Contact the bank to obtain current rate information.
As with all savings accounts, this one is subject to Federal Reserve Regulation D, which limits certain debits up to six per month.
Personal Statement Savings
- Minimum opening deposit: $50
- Minimum balance to earn APY: None
- Monthly account maintenance fee: $7.50; can be waived with minimum monthly balance of $500
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
K Savings
- Minimum opening deposit: $10
- Minimum balance to earn APY: None
- Monthly account maintenance fee: None
- ATM fee: N/A
- ATM fee refund: N/A
- Overdraft fee: $38
This account is a great option to teach kids and grandkids about good saving habits early in life. It’s available to those under age 18 and comes with a special interest rate for the first 90 days the account is open. From there, the more they save, the more interest they will earn, with up to a $15 credit every year. There is no minimum balance requirement to earn interest, and no monthly maintenance fee. You’ll need to contact the bank to obtain current rate information. Account holders have the choice of a passbook or statement savings account with unlimited access to in-branch withdrawals and free electronic statements. This account is opened as a Uniform Transfer to Minor account. It is subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers up to six per month.
Holiday Club
- Minimum opening deposit: None
- Minimum balance to earn APY: None
- Monthly account maintenance fee: None
- ATM fee: N/A
- ATM fee refund: N/A
- Overdraft fee: N/A
This account is meant specifically for saving up for the holidays. Interest is earned on all balances at the end of the holiday year, and there is no minimum opening deposit or monthly maintenance fee. You’ll need to call the bank to obtain current rate information. Account owners can set up an automatic transfer from their First National Bank of Long Island checking account.
This account comes with electronic statements and renews automatically every year, with the money credited back into your checking account at the end of the year. Account holders also have the option to set up a 50-week payment schedule, though a fee may apply if it is closed before the final payment. Contact a branch for more information about this. As with all savings accounts, this one is subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers up to six per month.
Gold Savings Passbook
- Minimum opening deposit: $50
- Minimum balance to earn APY: $500
- Monthly account maintenance fee: $7.50; can be waived with minimum monthly balance of $500.
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
This traditional passbook savings account earns interest from the day of deposit to the day of withdrawal. It has a low minimum opening deposit and a minimal balance requirement to earn interest and avoid the money fee. Contact the bank to obtain current rate information. It is also subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers to six per month.
How to get The First National Bank of Long Island’s savings accounts
The First National Bank of Long Island’s savings accounts must be opened in person at a branch. Visit the website to find one near you.
How The First National Bank of Long Island’s savings accounts compare
Just like with its checking accounts, The First National Bank of Long Island offers and array of savings accounts, most of them with low requirements and monthly fees. All of them have the ability to earn interest, though you’ll have to contact the bank to find out what the rates are. Once you have those rates, you’ll want to be sure to compare them with our list of the best online savings accounts to help determine if you’re truly choosing the best product for your savings goals.
The First National Bank of Long Island money market account option
Personal Money Market Savings
- Minimum opening deposit: $50
- Minimum balance to earn APY: $3,000
- Monthly account maintenance fee: $35; can be waived with minimum monthly balance of $1,000
- ATM fee: None; $1.75 on outside bank ATMs
- ATM fee refund: None
- Overdraft fee: $38
As with a few of the bank’s savings account, this one boasts having a money market rate — as it should, since it’s a money market account by name. It also has a low opening deposit requirement, and fairly low balance requirements to earn interest and avoid incurring the monthly fee. Be sure to contact the bank to get current rate information. As a savings account, it is subject to Federal Reserve Regulation D, which limits certain debits up to six per month.
How to get The First National Bank of Long Island’s money market account
As with all of The First National Bank of Long Island’s personal account products, this one must be opened in person at a branch. Visit the website to find a location near you.
How The First National Bank of Long Island’s money market account compares
As with all of The First National Bank of Long Island’s personal accounts, you’ll have to contact the bank to find out the available rate for this one. Once you have that information, you can determine if it compares with those on our list of the best money market account rates. Otherwise, this is your standard, run-of-the-mill money market account, though it has a low opening deposit requirement, and a fairly average balance requirement to earn interest.
Overall review of The First National Bank of Long Island’s banking products
It’s plain to see that The First National Bank of Long Island offers an abundance of checking and savings accounts, in addition to the one money market account. Having so many choices might appear to be overwhelming, especially if you don’t even know the available rates upfront.
Additionally, as the bank’s name implies, it caters specifically to Long Island residents, so you’ll want to be sure you live near one of its many branches, since you’ll have to visit one in person to open an account. It might not be worth all the effort, but be sure to research all rates for the type of account you’re looking for and making sure they stack up against the competition before settling on one of these accounts.
