First Rate Checking

Earn up to 5.00% APY²

Start earning more on your everyday banking with our First Rate Checking Account. Earn a competitive rate on your first $1,000⁵¹, giving you a little extra boost to help with expenses or reach your savings goals faster.

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Benefits of First Rate Checking

High-yield earnings

Earn 5.00% APY² on the first $1,000⁵¹ in your account when you enroll in eStatements and sign up for direct deposit. It’s a simple way to make your balance work harder for you.

No monthly maintenance fees

Keep more of what you earn with zero monthly maintenance fees. Your account stays free, so you can focus on building your financial future.

Get paid up to 2 days early

When you have direct deposit you get access to your paycheck up to 2 days before your scheduled payday. No extra steps required. Get the money you’ve earned when you need it most.

Complete banking convenience

Enjoy full-service banking with online and mobile app access, plus a Mastercard debit card for purchases and ATM access nationwide.

Rates

Type	Dividend Rate	APY²	Min Balance⁷
First Rate Checking^21,51	.01%	5.00 - 0.02%	$1000.01+
	4.88%	5.00%	$0.00-$1,000.00
Teen Checking²¹	.01%	.01%	$0.00

All rates subject to change without prior notice. Fees may reduce earnings for accounts where fees apply. Annual Percentage Yield accurate as of November 3, 2025.

Mastercard® Debit Card

Experience the flexibility you need for today’s busy lifestyle.

Convenient card benefits

Access more than 30,000 ATMs nationwide through our CO-OP Network for convenient, surcharge-free withdrawals.
Enjoy fast, secure payments with mobile wallet compatibility (Apple Pay, Google Pay, Samsung Pay) and easy P2P transfers on Venmo and PayPal.
Earn cash back rewards⁴² on eligible purchases, helping you save while you spend.
Simplify online shopping with Mastercard Click to Pay, offering a quick and secure checkout experience at participating merchants.

Security and card control

Enjoy complimentary fraud monitoring with our Card Alert Notification Program. If we detect a suspicious transaction on your card, we’ll notify you immediately.
Take full control with Card Management in our mobile app. Turn your card on or off, set spending limits, and receive real-time alerts for withdrawals and low balances.
Rest easy. With Mastercard Zero Liability Protection⁴¹ you’re not held responsible for unauthorized transactions.
Strengthen your protection with complimentary Mastercard ID Theft services for added security and confidence everywhere you use your card.

Learn More

Banking wherever you need it

Access all your accounts in one place, whether you’re at home or on the go. See checking, savings, and loans at a glance.

Download on the App Store, Google Play, and Amazon Store.

Easy transfers

Move money between Webster First accounts or from outside accounts in seconds.

Pay bills & more

Handle bill payments, loan payments, and stop checks all from your phone.

Deposit checks from anywhere

Snap a photo to deposit checks instantly. No trip to the branch needed.

Build your savings goals

Set savings goals and track your progress with our Goal Builder tool, built right into online and mobile banking.

Auto-save success

Set up recurring transfers or save a percentage of your direct deposit automatically to help you meet your goal on time.

Money Management

Track spending and manage your budget with built-in financial tools.

Open your First Rate Checking account

To open, you must be 18 years of age or older and live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County or be a current Webster First member. $5 minimum balance to open.

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Own a small business? Check out our Business Checking options