A Health Savings Account (HSA) is an account
used to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment. HSAs were signed into law by on December 8, 2003.
Plus these extras at no charge
- No set-up fee.
- No minimum balance and no limit on the number of checks. Plus, no limit on the number of POS/ATM transactions. No per debit or check fee.
- Tiered Interest Rates
- Free Image Checks. WoodTrust provides a copy of all cancelled checks with statements each month.
- Free ACH Deposit. Have recurring contributions automatically deposited to Health Savings Accounts.
- Free Automatic Funds Transfer. Have funds automatically transferred between Health Savings Accounts and other WoodTrust Bank accounts.
- Free Internet Banking.
- Free debit card.
Who Can Have an HSA
- $50 minimum to open a Health Savings Account.
- Monthly maintenance fee of $3
- Fee waived for the first three months, and
- Fee waived on balances of $500 or more.
- Check charge - Wallet or duplicate available.
- Fee for replacement card or PIN reminder.
- Overdraft protection is not available with this account.