Statement Savings Account
The Bank of Fincastle Statement Savings Account is a great way to start saving and you can rest assured knowing that your money is working for you. We offer a competitive interest rate and require no minimum balance or service charge. You may make six (6) transfers or withdrawals from your account each four (4) week or similar period. Transfer and withdrawals may be made in person, by online banking, by our mobile app, by mail or at an ATM. For additional details, terms and conditions please call or visit any branch location.
With our Statement Savings Account, you receive a quarterly statement that shows your account history.
Ask any of our account representatives how you can receive a FREE Debit Card.
Premier Money Market Account with Check Access
The Bank of Fincastle’s Premier Money Market Account provides liquid savings, giving you immediate access without penalty when the minimum balance is maintained. Plus, this account features tiered interest, with a higher interest rate given for a greater balance. You must deposit $2500.00 to open this account.
You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfers, or telephone (including data transmission) agreement, order or instruction or by check, draft, debit card or similar order (including POS transaction, made by the depositor and payable to third parties. Transfer and withdrawals made in person, by online banking, by our mobile app, by mail or at an ATM.
Healthcare Savings Account
To be Eligible:
- You must participate in a High Deductible Health Plan (with any health plan provider)
- You must not have coverage under another non-high deductible health plan
- You must not be enrolled in Medicare
- You must not be eligible to be claimed as a dependent on another individual’s tax return
Maximum contributions per year:
- Yourself only – $3,400
- Family – $3,750
- Catch-up – $1,000 (55 and over)
How does it benefit you?
- By lowering your out-of-pocket costs
- There is no time limit on taking qualified distributions
- Your balance carries over from year to year, unlike some plans
- The HSA is a portable account that stays with you beyond current employer
- $3/monthly fee for the account
- Only a $25 starting balance to open the account
- You may pay your provider with an HSA check, or reimburse yourself on qualified transactions
- You will receive a 1099 from us each year with your HSA contribution information for tax filing purposes.
- Keep your receipts! You are responsible for record keeping of receipts and ensuring expenses are qualified.
How do you open an account?
- Just stop in and see one of our banking professionals at any branch location to open your account
Holiday Savings Club
The Bank of Fincastle Holiday Savings Account is a good way to ensure that money is available when December rolls around. You decide how much you want to save and The Bank of Fincastle will give you a deposit card that you can use to make deposits. This account is an interest-bearing account. The interest rate and annual percentage yield are included in the rate chart.
Transaction limitations for the Holiday Savings Account: No withdrawals may be made from this account, with exception of withdrawal to close the account. In the month of November, a check for the balance of this account will be issued and mailed to the account holder or credited to their desired Bank of Fincastle account.
Certificates of Deposit
Certificates of Deposit are an excellent option for those seeking a safe, stable investment. You can rest assured knowing that your CD’s are FDIC insured. And, since you know when your money will mature, you can budget your investment more easily. And, with terms ranging from 7 days to 5 years, the timing is always right for a CD from The Bank of Fincastle.