Accounts

Accounts

What account is in your best interest?

March 3, 2016 for current accounts. This page contains information about terms, fees, and interest rates for some of the accounts we offer.

Limitations

  • You must deposit $100 to open this account.

Benefits

  • Unlimited Check Writing
  • Automated telephone banking included
  • Debit Card (limit 1/Standard & 2/Family)
  • Internet Banking (with On The Go Banking access) Included
  • Online Billpay Available at discounted rate of $2.95
  • Accidental Death & Dismemberment Insurance
  • 1 Cashier’s Check per Month at no charge
  • Wallet Checks Included (4 boxes per year, 1 box per order)
  • Additional benefits available, see member benefit brochure for details

Costs

  • Standard Plan $10.95
  • Family Plan $12.95
  • A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.
  • Fees are charged to the account every monthly statement cycle

Benefits

  • Automated telephone banking
  • Internet Banking fee waived with enrollment of monthly eStatements with On The Go Banking access, $4/month without eStatements
  • Debit card available
  • Online Billpay Available

Limitations

  • You must deposit $100 to open this account.
  • You must maintain a minimum daily balance of $500 every statement cycle to avoid the imposition of a Minimum Balance Fee.

Costs

  • Minimum Balance Fee, if daily balance is $500 and above No Charge
  • Minimum Balance Fee, if daily balance is below $500…$7 Charge
  • A debit fee of $0.15 will be charged for each debit in excess of 30 during a statement cycle. This fee will apply only if the average daily balance falls below $1,000 during the statement cycle.
  • A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.

Benefits

  • Unlimited check writing
  • Automated telephone banking
  • Direct Deposit
  • Internet Banking fee waived with enrollment of monthly eStatements with On The Go Banking access, $4/month without eStatements
  • Debit card available
  • Online Billpay Available

Limitations

  • You must deposit $100 to open this account.

Costs

  • A minimum balance fee of $3 will be imposed if daily balance falls below $250.
  • If eStatements are not enrolled, there will be a $3 paper statement fee. Statements do not include imaged account transactions. Images of individual items are available.
  • A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.
  • Failure to log in to internet banking for a period of time greater than 90 days, will result in the account being dropped from internet banking and the account will incur a $3.00 paper statement fee.

Description

We use the collected daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in account each day.

Benefits

  • Internet Banking available
  • Estatements available
  • Debit card available
  • Online Bill-Pay Available

Limitations

  • You must deposit $100 to open this account.

Costs

  • You must maintain a minimum daily balance of $2,500 every statement cycle to avoid the imposition of a Minimum Balance Fee
  • Minimum Balance Fee if daily balance is $2,500 and above No Charge
  • Minimum Balance Fee if daily balance is Below $2500…$8 Charge
  • A debit fee of $0.10 will be charged for each debit in excess of 30 during a statement cycle.
  • A premature account closing fee will be charged if the account is closed within 60 days of the opening date.

Description

We use the collected daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in account each day.

Benefits

  • Internet Banking available
  • Estatements available

Limitations

  • You must deposit $100 to open this account.
  • There is no limit on the number of withdrawals when made in person at a Farmers State Bank office or at an automated teller machine. However, transfers to another deposit account with Farmers State Bank or to a third party by means of pre-authorized agreement or telephonic request (including Automated telephone banking or Internet Banking), check, draft, or similar payment order (including POS or debit card ) are limited to six (6) per month. These transactions are governed by federal law and, if exceeded, could result in the Bank reclassifying the account. Excessive withdrawal fees still apply, see below.

Costs

  • You must maintain a minimum daily balance of $2,500 every statement cycle in order to avoid the imposition of a Minimum Balance Fee of $8.
  • A fee of $5 will be charged for each withdrawal from your account in excess of six during a statement cycle.
  • A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.

Description

We use the collected daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in the account each day.

Benefits

  • Internet Banking available
  • Estatements available
  • ATM card may be available

Limitations

  • You must deposit $100 to open this account.
  • There is no limit on the number of withdrawals when made in person at a Farmers State Bank office or at an automated teller machine***. However, transfers to another deposit account with Farmers State Bank or to a third party by means of a pre-authorized agreement or telephonic request (including automated telephone banking or Internet Banking transfers), check, draft, or similar payment order (including POS or debit card) are limited to six (6) per month. These transactions are governed by federal law and, if exceeded, could result in the Bank reclassifying the account. (***Excessive withdrawal fees will apply, see below.)

Costs

  • You must maintain a minimum daily balance of $250 every statement cycle in order to avoid the imposition of a Minimum Balance Fee.
  • Minimum Balance Fee if daily balance is $250 and above, No Charge
  • Minimum Balance Fee if daily balance is $100 to $249.99…$3.50 Charge
  • Minimum Balance Fee if daily balance is Below $100…$7 Charge
  • This fee will not apply to full-time students (age 25 or younger). At age 26, account will convert to a regular savings or an equivalent product at the time with all applicable fees and minimum balances.
  • You will be charged $5.00 for each withdrawal from your account in excess of 6 per month.
  • A premature account closing fee of $20 will be charged if the account is closed within 60 days of the opening date.

The following fees apply to all of your accounts with us except Certificates of Deposit and Time Deposit Accounts (unless otherwise noted):

Other Account Fees
Statement Request - Unscheduled $5
Transfer Fee $2
Monthly ATM/Debit Card Fee $1.50
Replace Lost ATM/Debit Card $5
Change PIN for ATM/Debit Card $2
Foreign ATM/Debit Transaction Fee $1
Deposited checks and other items returned unpaid $4
NSF Item $30 per item
Stop Payments $30 per item
In/Outgoing Collections fee $15 per item
Account Sweep/Auto Transfers $1 per occurrence
Internet Banking Fee $4 per month, Internet Banking Fee waived if eStatements elected.
Online Bill-Pay $4.95 per month ($2.95 for Club Accounts)
Online Bill-Pay Stop Payments $15
Online Bill-Pay Research/Copies $25
Miscellaneous Fees and Charges
Check Printing Fee depends on style of check ordered
Temporary Checks $3 (per 12 checks printed)
Cashier's Checks $5
Gift Cards $5
Hold Statement Fee $10 per month
Telephone Balance Inquiry (Not Automated telephone banking) $1 per occurance
Telephone Transfer Fee (Not Automated telephone banking) $2.00
Account activity printout $5
Statement Re-print or additional copy $5
Account research $25 per hour (1 hour minimum)
Account balancing assistance $25 per hour (1 hour minimum)
Outgoing Wire Transfers $25
Incoming Wire Transfers $10
Wire Reject Fee $5
Garnishments/Levies/ Account Freezes $75 plus any legal fees and account research as necessary
Currency Exchange Costs incurred to order/process foreign Currency
Rolling Coins $0.25 per roll
Change Orders ($5 minimum) Coin Purchased, $0.10/ roll or $2/box
Strapped Currency Purchased, $.20 per strap
Zipper Bag $5
Lockable Zipper Bag $25
Copies $0.25/copy with $1 minimum
Faxes $5 up to 10 pages & $1/page after 10
IRA rollover outgoing $25
Safety Deposit Box Annual Fees
3x5 $25
4x5 $30
5x5 $35
3x10 $40
5x5 $35
3x10 $40
5x10 $50
6x10 $55
9x10 $65
10x10 $70
4x10.5 $45
8x10.5 $60
Key Replacement, Drilling or Replace Lock Fees will be assessed per current Locksmith rates at time of service.

Limitations

  • You must deposit $100 to open this account.

Costs

  • Minimum Daily Balance $2,500
  • Below $1,499 - $8
  • $1,500 to $2,499 - $6
  • $2,500 – no charge
  • Debit fee of $.10 for each debit in excess of 30 during a statement cycle
    • Average daily balance of $10,000 No statement or debit item charge, regardless of number of debits paid
  • Account Activity and cash usage will be monitored and account may be converted to Account Analysis

Limitations

  • You must deposit $100 to open this account.

Costs

  • Monthly Maintenance Fee - $8
  • Monthly statement Fee - $3 (waived w/election of eStatements)
  • Items/Check Deposited - $0.10
  • Checks Paid - $0.10
  • Bag Processing - $3 (based on volume of bank provided bag)
  • ACH Incoming Items (Debits/Credits) $0.025 (Free POS Debits)
  • Strapped Currency – per Strap - $0.20
  • Rolled Coin - $0.10 per roll or $2 per box
  • Earning Allowance also called an “Earnings Credit” can be used to offset eligible fees.

Limitations

  • You must deposit $100 to open this account.
  • Current regulatory eligibility criteria for NOW account ownership will be applied at account opening or conversion.

Costs

  • $2,500 and above – No Charge
  • $0 to $2,499 - $8
  • Debit fee of $.10 for each debit in excess of 30 during a statement cycle
    • Average daily balance of $10,000 No statement or debit item charge, regardless of number of debits paid
  • Account Activity and cash usage will be monitored and account may be converted to Account Analysis

Limitations

  • You must deposit $100 to open this account.

Costs

  • $2,500 and above – No Charge
  • Below $2,500 - $8
  • Average daily balance of $10,000 No statement charge, regardless of amount of activity
  • Debit Fee of $5 will be charged for each debit in excess of six during a statement cycle
  • Account Activity and cash usage will be monitored and account may be converted to Account Analysis

There is no limit on the number of withdrawals when made in person at a Farmers State Bank office or at an automated teller machine.
***However, transfers to another deposit or to a third party by means of pre-authorized agreement or telephonic request (including Automated telephone banking or internet Banking), check, draft, or similar payment order (including POS or debit card) are limited to six (6) per month. These transactions are governed by federal law and if exceeded, could result in the Bank reclassifying the account
(***Excessive withdrawal fees still apply).

Benefits

  • Interest Bearing Account

Limitations

  • You must deposit $100 to open this account.

Costs

  • $250 and above – no charge
  • $100 to $250 - $3.50
  • Below $100 - $7
  • $5 for each debit in excess of 6 per month

There is no limit on the number of withdrawals when made in person at a Farmers State Bank office or at an automated teller machine.
***However, transfers to another deposit or to a third party by means of pre-authorized agreement or telephonic request (including Automated telephone banking or internet Banking), check, draft, or similar payment order (including POS or debit card) are limited to six (6) per month. These transactions are governed by federal law and if exceeded, could result in the Bank reclassifying the account
(***Excessive withdrawal fees still apply).

Other Account Fees
Monthly ATM/Debit Card Fee $1.50
Replace Lost ATM/Debit Card $5
Change PIN for ATM/Debit Card $2
Foreign ATM/Debit Transaction Fee $1
Paid NSF Item $30
Stop Payments $30
Incoming/Outgoing Collections Fee $15
Returned NSF Item $30
Internet Banking $4.00
Online BillPay $4.95
Online BillPay Research/Copies $25
Online BillPay Stop Payments $15
Statement Request Unscheduled $5
Transfer $2
Activity/Balance $1 (Free via TeleBank or Internet Banking)
Hold statement $10 (free via eStatements)
Account Sweep $1 per occurrence
CTR Fee $25
Monthly Statement Fee $3 (Free via eStatements)

In 2 Simple Steps, Farmers State Bank will help you move your accounts from your current bank to ours.

Step 1

Open a new Farmers State Bank checking account at one of our 7 convenient locations. Discontinue use of your account at your existing bank and leave enough money to cover any outstanding checks, ATM/Debit card purchases, online bill payments and automatic payments/bank drafts.

Step 2

Complete any of the attached forms that currently apply to you:

  • Form 1: Direct Deposit Change Form: Payroll, Dividends or any other automatic deposit
  • Form 2: Automatic Payments or Bank Drafts Change Form: Scheduled transfers, monthly/quarterly/annual bill payments
  • Form 3: Go Direct Federal Benefit Direct Deposit Form: If you receive social security, supplemental security income, railroad retirement, civil (non-military) retirement or VA (compensation or pension only) then fill out this form to receive your benefits by direct deposit (Address/Phone number/website instructions are on the form)
  • Form 4: Account Closing Form: After all outstanding checks and debits have cleared and scheduled deposits and withdrawals are switched to Farmers State Bank, use this form to close the account at your old bank

Let our staff help you ease through the transition process! We will help answer any questions you might have, help you fill out any forms you need assistance with and help you get your forms to the right people. We want to make your transition to Farmers State Bank as smooth as possible!