Checking Accounts

Services Available at No Cost:

  •  Online Banking
  • Mobile Banking
  • eStatements
  • Bill Pay
  • Debit Card

FREE Regular Checking

Peoples State Bank now offers a free checking account! This account is a non-interest bearing checking account where you can make unlimited deposits and withdrawals.

  • Minimum Opening Deposit: $100.00 
  • No Minimum Balance
  • No Monthly Service fees

NOW Account

A checking account that draws interest that is compounded and credited monthly. You have the ability to make unlimited deposits and withdrawals.

  • Minimum Opening Deposit: $1,500.00
  • Minimum balance to avoid a fee: $1,500.00
    • If your balance falls below $1,500.00 on any day in the month, your account will be subject to a $2.00 Required Minimum Balance fee for that month.
    • If your balance falls below $1,000.00 on any day in the month, your account will be subject to a $4.00 Required Minimum Balance fee for that month.
    • If your balance falls below $500.00 on any day in the month, your account will be subject to a $6.00 Required Minimum Balance fee for that month.
  • Additional Terms: At our discretion, we may change the interest rate for this account at any time. Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Health Savings Account

A tax advantaged interest bearing NOW account available to taxpayers who are enrolled in a high-deductible health plan (HDHP). The funds contributed to this account are not subject to federal income tax at the time of deposit. HSA funds roll over and accumulate year to year if they are not spent. It is advised that an account holder consult with a tax professional before opening up this type of account.

  • Minimum Opening Deposit: $5.00
  • Initial fee to open account: $25.00
  • Additional Terms: At our discretion, we may change the interest rate for this account at any time. Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account. Interest in this account is compounded and credited monthly. There is no minimum balance requirement and this account is not eligible for debit card use.

Student Checking

A non-interest checking account available for full time students that has no service charges. You have the ability to make unlimited deposits and withdrawals.

  • Minimum Opening Deposit: $100.00
  • Additional Terms: To be considered full-time, undergraduate students must enroll in 12 semester hours per term and graduate students must enroll in 9 semester hours per term. Proof of enrollment may be required.

Senior Checking

A totally free checking account for our senior customers! This account is a non-interest bearing checking account where you can make unlimited deposits and withdrawals.

  • Minimum Opening Deposit: $100.00
  • No Minimum Balance
  • No Monthly Service fees

 

 
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