First Horizon Review 2026

First Horizon's Essential Checking carries a $8 monthly service fee that is waivable with a $1,500 minimum daily balance or qualifying direct deposit, a structure comparable to Regions Bank's LifeGreen Checking, which waives its $8 fee via direct deposit as well. The bank's Relationship Checking tier eliminates monthly fees with higher balance thresholds and adds perks such as free cashier's checks and safe-deposit-box discounts. Overdraft fees are assessed at $35 per item, consistent with the industry norm but higher than Ally Bank, which charges no overdraft fee at all, and higher than Capital One 360, which also eliminated overdraft fees in 2022. Out-of-network ATM fees apply and are not universally reimbursed unless the customer holds a premium account tier. Wire transfer fees run $25 domestically outgoing, in line with peer regional banks. CD rates have historically lagged behind online-only competitors such as Marcus by Goldman Sachs and Discover Bank, where APYs on 12-month CDs have frequently exceeded 4.5% in the current rate environment versus First Horizon's lower posted rates. Fee waivers are attainable for most customers with direct deposit, making the day-to-day cost manageable, but rate-seekers will find better yields elsewhere.

First Horizon has made meaningful progress on its digital banking experience, and it is no longer a clear weakness relative to regional peers. The mobile app covers the standard toolkit — mobile check deposit, bill pay, Zelle for peer-to-peer transfers, card controls, customizable alerts, and built-in budgeting and spending-tracking tools — and current app-store ratings reflect solid customer reception. If you're considering First Horizon and robust digital capabilities are a critical consideration, it's worth investigating one potential friction regarding onboarding: online account opening may be available for some products but not necessarily across all account types, meaning certain accounts may still require a branch visit. Customers who want a fully branchless relationship should weigh that potential gap; those comfortable with occasional branch interaction will find the day-to-day mobile experience competitive.

First Horizon does not operate a points-based or rewards-currency loyalty program comparable to the Chase Ultimate Rewards ecosystem or U.S. Bank's Smartly program. Its relationship benefits are structured as fee waivers and rate adjustments rather than redeemable rewards: customers with higher combined deposit balances qualify for reduced fees on loans, waived wire-transfer fees, and incremental rate bumps on savings products. The Relationship Checking tier provides complimentary cashier's checks, a free safe-deposit box, and select ATM fee rebates — tangible but modest perks. First Horizon does issue a Visa-branded debit card and offers co-branded credit cards through third-party partners, but cash-back or points accumulation on checking balances is not a feature. By contrast, Huntington Bank's Perks Checking earns 3x points on debit purchases, and Truist's One Checking offers tiered cash-back on debit spend. For consumers who want their checking account to generate ongoing rewards, First Horizon's relationship model delivers less tangible return than those competitors. The loyalty proposition is strongest for business customers who consolidate loans, deposits, and treasury management under one relationship, where pricing concessions become more meaningful.

First Horizon operates approximately 400 branches, concentrated across 12 states in the Southeast and Mid-Atlantic — Tennessee, North Carolina, South Carolina, Georgia, Florida, Virginia, Maryland, Louisiana, Arkansas, Mississippi, Alabama, and Texas. This footprint is meaningfully smaller than Truist's roughly 2,000 branches or Regions Bank's approximately 1,300 locations across overlapping markets, limiting walk-in access for customers outside its core territory. ATM access is provided through the bank's proprietary network; First Horizon is not a member of a large surcharge-free ATM alliance such as Allpoint (55,000 ATMs) or MoneyPass (40,000 ATMs), which reduces fee-free cash access for customers traveling outside branch-dense areas. Cash deposits require a branch or in-network ATM visit, as no partnership with retail cash-deposit networks like Green Dot or PayNearMe is publicly available. Saturday branch hours are offered at select locations, and 24/7 phone support is available. For customers living within the Tennessee–Carolinas–Georgia core, branch density is adequate for routine banking needs; for customers outside that corridor, the network creates meaningful accessibility gaps relative to Truist or Wells Fargo.