Choosing the free E-Option for your Health Savings Account gives you the
convenience of viewing your monthly statements online without the hassle of sorting
through paper statements in the mail. You also earn a higher interest rate by
choosing E-Option on every dollar you deposit.
Your HSA comes equipped with a FREE Visa Debit Card
to have universal access to your funds. Purchases can be made anywhere Visa
is accepted. It works like a credit card except that funds are automatically
removed from your HSA when the card is used. It can be also be used to withdraw
funds from more than 300,000 ATM machines worldwide. The number of free VISA Debit transactions is limited. Please review the Terms and Conditions shown below. Additional cards may be obtained for a fee.
How to activate your HSA Debit card - with 3 Easy Steps
1) To ensure security, you must call 1-800-492-3276 (7am to
7 pm CST) and a Personal Banker can activate your card.
2) You will be instructed go to an ATM (with a Plus/Interlink
Logo) and establish your 4-digit Personal Identification Number.
3) Your card will be available to use the following morning.
Check access to your HSA is limited. Please review the Terms and Conditions shown below. Your initial supply of checks is free. Additional orders will incur a charge.
Farm Bureau HSAs are interest-earning accounts.
Our competitive rates are tiered to reward higher balances. Click here for rates.
You can access your accounts online 24 hours a day if you register for our free
Internet Banking. View your account activity and statements online anytime.
Click here for registration
and more information.
HSAs offer free, unlimited Direct Deposit transactions. Have
funds deposited electronically to your account without the hassle of mailing
in a check. Most employers and government agencies are equipped to directly
deposit funds into your account. You can also arrange for funds to be directly
deposited into your HSA from your other accounts. All
it requires is the ABA routing number, which is found on the bottom of every
check.
Rate Information- The interest rates and annual percentage yields for all Farm Bureau deposit accounts are determined at the discretion of the Bank. The interest rates and annual percentage yields may change at any time. The interest rate for your account will be based on the following daily balance tiers:
Health Savings Account
< $2,500
$2,500 - $9,999
> $10,000
If you select the E-Option for your transaction account, you will earn interest on all balances at a rate above the standard rate for the selected account type. If you select the E-option, you will not receive monthly statements via mail unless the Bank is required by applicable law to provide such statements. Transaction history will be made available through the Internet at www.farmbureaubank.com.
| Crediting Frequency |
Interest will be credited monthly. |
| Compounding Frequency |
Interest will be compounded daily. |
| Daily Balance Computation Method |
Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. |
| Minimum Balance to Open |
The minimum balance to open an HSA is $100.00. |
| Accrual of Interest on Noncash Deposits |
Interest will begin to accrue on the business day you deposit noncash items (e.g., checks) into your account. |
| Monthly Administration Fee |
HSAs may be assessed a monthly administration fee. For the fee applicable to your account, click here. |
| Effects of Closing an Account |
If you close a transaction account within 90 days from the original account opening date, a fee will be assessed. If you close your account by check before interest is paid, you will not receive the accrued interest. |
| Transaction Limitations |
Federal law limits withdrawals to 6 per statement cycle (3 of which can be checks and/or debit card transactions). For transactions exceeding federal requirements, see fee schedule. |
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Equal Housing Lender. Farm Bureau Bank is an Equal Opportunity Employer.