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Physician Bank
Health Savings Account
Rates as high as 3.02% APY1
Looking for a convenient way to save for your medical expenses? Look no further than Physician Bank’s Health Savings Account (HSA)! Our interest-bearing account is specifically designed to help eligible individuals manage their healthcare costs, while earning interest on their savings. Seamlessly integrated with your High Deductible Health Plan from your insurance provider, our HSA makes it easy to prepare financially for your healthcare needs. Trust us to be your partner in safeguarding your health and financial well-being.
GET STARTED ONLINE
Health Savings ACCOUNT FEATURES
$50 Minimum to Open Account2
Waived if regular ACH deposits established at account opening.
$30 Setup Fee: ($20 setup fee if done online); to be paid at the time HSA is established, may be deferred for up to 30 days.
Earn Interest3
Earn interest on the full balance of your HSA with tiered interest.
$5,000 min. qualifying balance – 3.02% APY1
$.01 to $4,999.99 qualifying balance – 1.01% APY1
Make tax-free distributions from your HSA for qualified medical expenses using:
Debit card at merchants and service providers ePay online bill pay. In bank withdrawal — $10.00 each.
IRS corrections: $104
Free eStatements
$4 per month if paper statements are mailed.
One Free Debit Card
Additional cards $10 each; no checks with account.
Transfer money electronically to or from your account… anytime, online**
External Transfer: $30.
Excess contributions: $20
Overdrafts & NSF: $33 per item*
$50 Minimum to Open Account2
Waived if regular ACH deposits established at account opening
$30 Setup Fee: ($20 setup fee if done online); to be paid at the time HSA is established, may be deferred for up to 30 days.
Earn Interest3
Earn interest on the full balance of your HSA with tiered interest.
$5,000 min. qualifying balance – 3.02% APY1
$.01 to $4,999.99 qualifying balance – 1.01% APY1
Make tax-free distributions from your HSA for qualified medical expenses using:
Debit card at merchants and service providers, ePay online bill pay
In bank withdrawal—$10.00 each.
IRS corrections: $104
Free eStatements
$4 per month if paper statements are mailed.
One Free Debit Card
Additional cards $10 each; no checks with account.
Transfer money electronically to or from your account… anytime, online**
External Transfer: $30
Excess contributions: $20
Overdrafts & NSF: $33 per item*
- APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened.
- $30 fee if account is closed within 6 months of opening.
- Variable interest rate may change daily; Interest calculation is based on daily (collected) available balances and is compounded monthly.
- Subject to IRS requirements.
Health Savings Account rates effective as of April 1, 2024.
*Overdrawing your HSA will cause the plan to be disqualified by the IRS.
** Please consult your tax preparer for eligibility and contribution limits.
Important Information
Procedures for Opening an Account Mandated by the USA PATRIOT ACT
To help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT ACT, a Federal law, requires all financial institutions to obtain, and record information that identifies each person who opens an account.
What this means for you:
When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
More Private Banking Options
We have high-interest checking and savings accounts with competitive rates and low fees. You can also take advantage of our high, interest-bearing Certificate of Deposit with guaranteed returns.
Ready to achieve your financial goals? Choose from our selection of financial products – one or all – and start your journey towards success. Get in touch with us today and discover more about our offerings.
PAYROLL PLUS ACCOUNT
Give your paycheck a boost!
Get the best of both worlds – the convenience of Direct Deposit and an excellent rate of return.
JUMBO DEPOSIT ACCOUNT
Your savings, safe and secure.
Maximize your savings potential with our high-yield savings account, offering flexibility and full FDIC insurance for up to $7 million in deposits.
CERTIFICATE OF DEPOSIT
Rates as high as 5.06% APY!
Our CDs provide fixed interest rates and guaranteed returns, giving you a secure and reliable way to maximize your savings
Give your paycheck a boost!
Get the best of both worlds – the convenience of Direct Deposit and an excellent rate of return.
Your savings, safe and secure.
Maximize your savings potential with our high-yield savings account, offering flexibility and full FDIC insurance for up to $7 million in deposits.
Rates as high as 5.06%!
Our CDs provide fixed interest rates and guaranteed returns, giving you a secure and reliable way to maximize your savings.
PRIVATE BANKER FOR PHYSICIANS
Brandie Wenham
NMLS #634982
brandie@physicianbank.com
M: (605) 640-5888O: (712) 986-7077
