First Tennessee Bank's Current Checking Account Fees

First Tennessee Bank was acquired by First Horizon Bank in 2017, so First Tennessee no longer operates as a separate institution. If you hold an account that was branded as First Tennessee, it is now a First Horizon account, and First Horizon's fee structure applies to it.

First Horizon offers several checking accounts with different fee structures. The most common account is the First Horizon Checking, which has a $12 monthly maintenance fee. However, this fee is waived if you maintain a minimum daily balance of $500 or set up a direct deposit of at least $250 per month.

First Horizon also offers First Horizon Premium Checking, which carries a $25 monthly fee but includes benefits like higher interest rates, fee waivers on certain services, and priority customer service. The fee waiver thresholds are higher for this account — typically a $2,500 minimum daily balance or equivalent direct deposit.

Key Takeaways

  • First Tennessee Bank accounts are now First Horizon accounts following the 2017 merger, and First Horizon's fee schedule applies to your account.
  • First Horizon Checking charges $12 per month but waives the fee if you keep $500 in your account or receive direct deposits of $250 or more monthly.
  • First Horizon Premium Checking costs $25 monthly and requires either a $2,500 minimum balance or equivalent direct deposit to waive the fee.
  • Other fees may apply for overdrafts, wire transfers, stop payments, and account research, separate from the monthly maintenance charge.

How to Waive the Monthly Fee

The simplest way to avoid the $12 monthly fee on First Horizon Checking is to keep at least $500 in your account at all times. This is a daily minimum balance requirement, meaning your balance must not drop below $500 on any day of the month.

The second option is to set up a direct deposit of at least $250 per month. This includes paychecks, government benefits, pension payments, or other regular deposits from an employer or government agency. Once you establish the direct deposit, the fee waives automatically each month.

If neither option works for you, First Horizon offers First Horizon eChecking, a no-fee account with no minimum balance requirement. This account has fewer features than standard checking — for example, it may have limits on the number of transactions per month — but it carries no monthly maintenance fee.

Other Fees Beyond Monthly Maintenance

First Horizon charges separate fees for services outside of routine checking. An overdraft fee applies when you spend more than your available balance; this fee varies but typically ranges from $30 to $35 per overdraft. Multiple overdrafts in a single day may each incur a separate fee.

Wire transfers, both outgoing and incoming, carry fees. Outgoing domestic wire transfers usually cost $15 to $25, while international wires cost more. Some incoming wires may also have fees depending on the type and origin.

Other common fees include stop payment requests (typically $25 to $35), account research or document retrieval ($10 to $25), and cashier's checks ($5 to $10). ATM fees apply if you use an out-of-network ATM; First Horizon reimburses some out-of-network fees depending on your account type, but this varies.

How to Check Your Specific Account's Fee Schedule

Your account's exact fees depend on which checking product you hold and when you opened it. Accounts opened before the merger may have different terms than newer accounts. The most reliable way to confirm your fees is to log into your First Horizon online banking account and review your account details, or call First Horizon customer service at the number on the back of your debit card.

You can also visit a First Horizon branch in person with your account number or debit card. A representative can pull up your account and show you the exact monthly fee, the balance or direct deposit requirement to waive it, and any other fees tied to your specific account type.

First Horizon's website also publishes a fee schedule that lists all standard fees by account type. Search for "First Horizon checking account fees" or "First Horizon fee schedule" to find the current document. Keep in mind that fees can change, so check the publication date on the document to ensure you are reading current information.

Comparing First Horizon Checking to Other Banks

First Horizon's $12 monthly fee with a $500 minimum balance is in the middle range compared to other regional and national banks. Some banks charge no monthly fee with no minimum balance, while others charge $15 or more per month even with a minimum balance in place.

If the $500 minimum balance or direct deposit requirement is difficult for you to meet, it may be worth comparing First Horizon eChecking (no fee, no minimum) to checking accounts at other banks in your area. Online banks often have lower or no monthly fees because they have fewer physical branches to maintain.

However, if you already have a First Horizon account and use their ATM network or branches regularly, the convenience may outweigh the fee. The $12 monthly fee is $144 per year, so weigh that cost against the value of local branch access and ATM availability in your area.

What Changed After the First Horizon Merger

When First Horizon acquired First Tennessee in 2017, existing First Tennessee customers were transitioned to First Horizon accounts. Some customers kept their original account terms for a period, but most were moved to standard First Horizon checking products within a few years.

If you have held an account since before the merger, your fee structure may differ from what is listed above. Check your most recent account statement or contact First Horizon directly to confirm whether your account is still under legacy First Tennessee terms or has been converted to a current First Horizon product.

Frequently Asked Questions

Can I switch to a no-fee checking account if I already have a First Horizon account?

Yes. You can convert your existing account to First Horizon eChecking, which has no monthly fee and no minimum balance. Contact First Horizon by phone, online, or at a branch to request the change. There is no fee to switch account types, though you should confirm that the new account meets your needs before converting.

Does First Horizon refund overdraft fees if I pay the overdraft quickly?

First Horizon does not automatically refund overdraft fees, but you may be able to request a one-time courtesy reversal if you have a good account history. Call customer service and ask; the outcome depends on your account age, history, and the representative's discretion. There is no may provide of a refund.

If I keep $500 in my account, are there any other monthly charges?

No. If you maintain the $500 minimum daily balance on First Horizon Checking, the $12 monthly maintenance fee is waived. You will still pay fees for specific services like overdrafts, wire transfers, or stop payments, but there is no additional monthly charge.

What counts as a direct deposit for fee waiver purposes?

Direct deposits that count toward the fee waiver include paychecks, Social Security, pension payments, unemployment benefits, and other recurring deposits from an employer or government agency. One-time transfers from another bank account do not count as direct deposits.

Where do I find First Horizon's current fee schedule?

First Horizon publishes fee schedules on their website under account disclosures or fee information. You can also request a printed copy at any First Horizon branch or by calling customer service. The fee schedule is updated periodically, so check the publication date to ensure you have the most recent version.