Physician Health Savings Account (HSA)

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

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$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.

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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

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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

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Free eStatements

$4 per month if paper statements are mailed.

debit card 1

One Free Debit Card

Additional cards $10 each; no checks with account.

transfer

Transfer money electronically to or from your account… anytime, online**

External Transfer: $30.

Excess contributions: $20

Overdrafts & NSF: $33 per item*

Open HSA Account with $50

$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 High Interest with Your HSA

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

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 with Your Health Savings Account

Free eStatements

$4 per month if paper statements are mailed.

Get A Free Debit Card with Your Health Savings Account

One Free Debit Card

Additional cards $10 each; no checks with account.

Transfer money electronically with Your HSA

Transfer money electronically to or from your account… anytime, online**

External Transfer: $30

Excess contributions: $20

Overdrafts & NSF: $33 per item*

  1. APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened.
  2. $30 fee if account is closed within 6 months of opening.
  3. Variable interest rate may change daily; Interest calculation is based on daily (collected) available balances and is compounded monthly.
  4. Subject to IRS requirements.

Health Savings Account rates effective as of June 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!

eCentive Account

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.

Jumbo Account

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!

Health Savings Account

Our CDs provide fixed interest rates and guaranteed returns, giving you a secure and reliable way to maximize your savings

PAYROLL PLUS ACCOUNT
ecentive icon 1 jpg

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
jumbo icon 1 jpg

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
hsa icon 1 jpg

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) 640-5888
O: (712) 986-7077
Linkedin Profile for Brandie
Contact Brandie Wenham For Health Savings Account
New! 4.04% APY* on checking.
*APY = Annual Percentage Yield

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Payroll Plus Checking Account

*APY = Annual Percentage Yield. Fees may reduce earnings. Interest rate is variable and may change after the account is opened. Rate applies to balances between $0.01 and $100,000

To earn 4.04%, you must:

  1. Have at least $5,000 in direct deposit each month from payroll, social security, investment income, or other forms of monthly income.
  2. Have monthly debit card purchases posted to your account equaling a minimum of $500. Please note that ATM transactions do not count toward the debit card purchase requirement.
  3. Enroll and receive monthly eStatements. With eStatements, you must have a valid email address to enroll. $4 per month fee applies if not enrolled in eStatements and paper statements are sent through U.S. Mail.

Payroll Plus Rates effective as of June 1, 2024. Minimum opening deposit of $100.