<p><img src="https://static1.businessinsider.com/image/60be631593c6fa00195e58a9-1668/first%20security%20bank%20and%20trust%20Logo%20on%20Personal%20Finance%20pattern%20background%202x1.png" border="0" alt="First security bank and trust Logo on Personal Finance pattern background 2x1" data-mce-source="First security bank and trust; Alyssa Powell/Insider"></p><p></p><bi-shortcode id="disclaimer" class="mceNonEditable" data-type="pfi"></bi-shortcode><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><bi-shortcode id="table-of-contents-sticky" class="mceNonEditable" data-type="h2">Table of Contents: Masthead Sticky</bi-shortcode><aside class="quick-tip headline-regular"><p><strong>The bottom line:</strong> <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="brand,name" data-customtext="First Security Bank and Trust Company" data-shouldlink="true" data-pid="60c0ea0c45d5170018f36f42">First Security Bank and Trust Company Free Checking Account</bi-inline-shortcode> is the only Black-owned bank in Oklahoma City. It has free checking and savings accounts, but you'll need to look elsewhere to earn high interest rates.</p></aside><h2>Overall bank rating</h2><table style="border-collapse: collapse; width: 100%; height: 132px;" border="1"><tbody><tr style="height: 22px;"><td style="width: 50%; height: 22px;">Feature</td><td style="width: 50%; height: 22px;">Insider rating (out of 5)</td></tr><tr style="height: 22px;"><td style="width: 50%; height: 22px;">Savings</td><td style="width: 50%; height: 22px; text-align: center;">3.75</td></tr><tr style="height: 22px;"><td style="width: 50%; height: 22px;">Checking</td><td style="width: 50%; height: 22px; text-align: center;">3.75</td></tr><tr style="height: 22px;"><td style="width: 50%; height: 22px;">CD</td><td style="width: 50%; height: 22px; text-align: center;">3.5</td></tr><tr style="height: 22px;"><td style="width: 50%; height: 22px;">Money market account</td><td style="width: 50%; height: 22px; text-align: center;">3.5</td></tr><tr style="height: 22px;"><td style="width: 50%; height: 22px;">Trustworthiness</td><td style="width: 50%; height: 22px; text-align: center;">5</td></tr><tr><td style="width: 50%;">Total</td><td style="width: 50%; text-align: center;">3.9</td></tr></tbody></table><h2>Pros and cons</h2><table style="border-collapse: collapse; width: 100%;" border="1"><tbody><tr><td style="width: 50%;">Pros</td><td style="width: 50%;">Cons</td></tr><tr><td style="width: 50%;"><ul><li>Black-owned bank</li><li>Free checking and savings options</li></ul></td><td style="width: 50%;"><ul><li>Only available in Oklahoma City</li><li>Low interest rates</li><li>No free overdraft protection</li><li>Limited to 3 withdrawals per month from your savings account</li></ul></td></tr></tbody></table><h2>Savings</h2><bi-shortcode id="commerce-link" class="mceNonEditable" data-cardtype="credit-card" data-pid="60c0eb1d45d5170018f36f46" data-type="undefined">First Security Bank and Trust Company Savings Account</bi-shortcode><p>You may like the <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="name" data-customtext="" data-shouldlink="true" data-pid="60c0eb1d45d5170018f36f46">First Security Bank and Trust Company Savings Account</bi-inline-shortcode> if you want a savings account with no monthly fee. But you'll pay a fee if you make more than three transactions per month. First Security also pays a low interest rate, and you can earn significantly more with a <a href="https://www.businessinsider.com/personal-finance/best-high-yield-savings-accounts-rates-right-now" target="_blank" rel="noopener">high-yield savings account</a>.</p><h2>Checking</h2><bi-shortcode id="commerce-link" class="mceNonEditable" data-cardtype="credit-card" data-pid="60c0ea0c45d5170018f36f42" data-type="undefined">First Security Bank and Trust Company Free Checking Account</bi-shortcode><p>The <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="name" data-customtext="" data-shouldlink="true" data-pid="60c0ea0c45d5170018f36f42">First Security Bank and Trust Company Free Checking Account</bi-inline-shortcode> has no monthly fees. But there's no free overdraft protection, so you'll pay $28 each time you overdraw.</p><h2>CD</h2><bi-shortcode id="commerce-link" class="mceNonEditable" data-cardtype="credit-card" data-pid="60c22a5b0dd3100011335030" data-type="undefined">First Security Bank and Trust Company Certificate of Deposit</bi-shortcode><p>First Security Bank and Trust pays low rates on CDs, and you can earn more with an <a href="https://www.businessinsider.com/personal-finance/who-has-the-best-cd-rates-right-now" target="_blank" rel="noopener">online bank</a>. It also only offers terms up to 30 months, while many banks offer terms as long as 60 months, or five years.</p><h2>Money market account</h2><bi-shortcode id="commerce-link" class="mceNonEditable" data-cardtype="credit-card" data-pid="60c11a15a617ed0018630172" data-type="undefined">First Security Bank and Trust Company Money Market Account</bi-shortcode><p>You may prefer the <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="name" data-customtext="" data-shouldlink="true" data-pid="60c11a15a617ed0018630172">First Security Bank and Trust Company Money Market Account</bi-inline-shortcode> to the regular savings account. The rate is a little higher, and you can order paper checks or a debit card for easier access to your savings. But you'll still earn much higher rates with an <a href="https://www.businessinsider.com/personal-finance/best-money-market-accounts" target="_blank" rel="noopener">online bank</a>.</p><h2>How First Security Bank and Trust Company works</h2><p><bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="brand,name" data-customtext="First Security Bank and Trust Company" data-shouldlink="true" data-pid="60c0ea0c45d5170018f36f42">First Security Bank and Trust Company Free Checking Account</bi-inline-shortcode> is a <a href="https://www.businessinsider.com/personal-finance/black-owned-banks-credit-unions" target="_blank" rel="noopener">Black-owned bank</a> with one branch in Oklahoma City, OK. There is one free ATM at the branch, and all ATMs at 7-Elevens are free.</p><p>To contact customer service, call Monday through Friday from 9:30 a.m. to 3:00 p.m. CT. Or call Saturday from 9:00 a.m. to 12:00 p.m. CT.</p><p>First Security Bank and Trust has a mobile app in the Apple and Google Play stores, but the app doesn't have any online customer reviews yet.</p><p>Your deposits are <a href="https://www.businessinsider.com/personal-finance/what-is-fdic-insurance" target="_blank" rel="noopener">FDIC insured</a> for up to $250,000, or up to $500,000 for joint accounts.</p><h2>Is First Security Bank and Trust Company trustworthy'</h2><p><bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="brand,name" data-customtext="First Security Bank and Trust Company" data-shouldlink="true" data-pid="60c0ea0c45d5170018f36f42">First Security Bank and Trust Company Free Checking Account</bi-inline-shortcode> does not have any recent public controversies.</p><p>Usually, we include Better Business Bureau grades when evaluating a bank's trustworthiness. However, the BBB hasn't graded First Security Bank and Trust yet. You may want to read online customer reviews or ask friends and family about their experiences with the bank.</p><div><style> #div-gpt-ad-1579713650634-0 > div > iframe { width: 100% !important; min-width: 300px; max-width: 595px; } </style><script async src="https://securepubads.g.doubleclick.net/tag/js/gpt.js"></script><script> window.googletag = window.googletag || { cmd: [] }; googletag.cmd.push(function () { googletag.defineSlot('/1035677/Business_Insider_', [[1, 1], [300, 139], [595, 139], [300, 250], [595, 250], [300, 360], [595, 360], [300, 475], [595, 475]], 'div-gpt-ad-1579713650634-0') .addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().setTargeting('category', ["Banking"]).setTargeting('subcat', ["Savings Accounts"]).setTargeting('post_id', []) .setTargeting('post_url', []) .setTargeting('keyword', []) .setTargeting('company-product', []) .setTargeting('post_title', []); googletag.enableServices(); }); </script><!-- /1035677/Business_Insider_ --><div id="div-gpt-ad-1579713650634-0"> <script> googletag.cmd.push(function () { googletag.display('div-gpt-ad-1579713650634-0'); }); </script></div></div><h2>How First Security Bank Bank and Trust Company compares to similar institutions</h2><p>First Security Bank and Trust Company is the only Black-owned bank in Oklahoma. But we've compared it to two Black-owned banks you can access online: <a href="https://www.businessinsider.com/personal-finance/oneunited-bank-review" target="_blank" rel="noopener">OneUnited Bank</a> and <a href="https://www.businessinsider.com/personal-finance/liberty-bank-and-trust-review" target="_blank" rel="noopener">Liberty Bank and Trust</a>.</p><table style="border-collapse: collapse; width: 100%; height: 111px;" border="1"><tbody><tr style="height: 45px;"><td style="width: 33.3333%; height: 45px;"><img src="https://static4.businessinsider.com/image/60c24e5823393a00188e2811-1200/First%20Security%20Bank%20and%20Trust%20Company%20logo.jpg" border="0" alt="First Security Bank and Trust Company logo" data-mce-source="First Security Bank And Trust Company"></td><td style="width: 33.3333%; height: 45px;"><img src="https://static5.businessinsider.com/image/60647697daf0f10018f992da-1200/OneUnited%20Bank%20logo.jpg" border="0" alt="OneUnited Bank logo" data-mce-source="OneUnited Bank"></td><td style="width: 33.3333%; height: 45px;"><img src="https://static4.businessinsider.com/image/60708fc14943790018bb1aca-1200/Liberty%20Bank%20logo.jpg" border="0" alt="Liberty Bank logo" data-mce-source="Liberty Bank"></td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;"><p><strong>Oklahoma branches</strong></p><p>1</p></td><td style="width: 33.3333%; height: 22px;"><p><strong>Oklahoma branches</strong></p><p>None; online</p></td><td style="width: 33.3333%; height: 22px;"><p><strong>Oklahoma branches</strong></p><p>None; online</p></td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;"><p><strong>Standout feature</strong></p><p>Free checking account</p></td><td style="width: 33.3333%; height: 22px;"><p><strong>Standout feature</strong></p><p>Early direct deposit</p></td><td style="width: 33.3333%; height: 22px;"><p><strong>Standout feature</strong></p><p>High interest rates</p></td></tr><tr style="height: 22px;"><td style="width: 33.3333%; height: 22px;"><bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="brand,name" data-customtext="Open an account" data-shouldlink="true" data-pid="60c0ea0c45d5170018f36f42">First Security Bank and Trust Company Free Checking Account</bi-inline-shortcode></td><td style="width: 33.3333%; height: 22px;"><bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="brand,name" data-customtext="Open an account" data-shouldlink="true" data-pid="5f2d6690f0f4197554128354">OneUnited Bank BankBlack Checking Account</bi-inline-shortcode></td><td style="width: 33.3333%; height: 22px;"><bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="brand,name" data-customtext="Open an account" data-shouldlink="true" data-pid="60633786065f570018519a5d">Liberty Bank Personal Checking Account</bi-inline-shortcode></td></tr></tbody></table><h3>First Security Bank and Trust Company vs. OneUnited Bank</h3><p><a href="https://www.businessinsider.com/personal-finance/oneunited-bank-review" target="_blank" rel="noopener">OneUnited Bank</a> doesn't have any branches in Oklahoma City, but you can bank online from around the US. You may like OneUnited if you're comfortable banking digitally, but if you want to bank in person, First Security Bank and Trust is the clear choice between the two.</p><p>With OneUnited, you may be able to receive paychecks and other direct deposits <a href="https://www.businessinsider.com/personal-finance/bank-accounts-early-direct-deposit" target="_blank" rel="noopener">up to two days early</a>. This makes the bank a strong contender if you need access to money faster.</p><h3>First Security Bank and Trust Company vs. Liberty Bank and Trust</h3><p><a href="https://www.businessinsider.com/personal-finance/liberty-bank-and-trust-review" target="_blank" rel="noopener">Liberty Bank and Trust</a> is only accessible online if you live in Oklahoma (although it does have branches in other states). So if you want to bank with a brick-and-mortar institution, you'll prefer First Security.</p><p>Liberty pays higher rates on savings and CDs than First Security, so if you qualify to waive its monthly fees, it could help you earn more money.</p><h3>About the author</h3><p><em>Laura Grace Tarpley is an editor at Personal Finance Insider, covering bank reviews and guides. She is also a Certified Educator in Personal Finance (CEPF). Over her five years of covering personal finance, she has written extensively about ways to save.</em></p><bi-shortcode id="related-content-module" class="mceNonEditable" data-type="more-savings-coverage" data-sheetname="More Savings Coverage">Related Content Module: More Savings Coverage</bi-shortcode><p><a href="https://www.businessinsider.com/personal-finance/first-security-bank-and-trust-company-review#comments">Join the conversation about this story »</a></p>
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