This account is a smart choice in more ways than one. To begin with, this account has no minimum balance requirements and no monthly fees. But it gets even better! Smart Checking will pay you just for using your debit card. If you use your card often enough, you can earn up to 2.02% APY on the average daily balance of your account. And for those who use their cards less frequently, interest can still be earned at tiered rates based on the number of transactions. Smart Checking is ideal for those who prefer to use a debit card and want to receive electronic statements*.
Smart Checking Interest Rate Tiers
- 0.50% APY for 75 or more transactions
- 0.25% APY for 50 or more transactions
- 0.15% APY for 20 or more transactions
*If you choose to receive paper statements instead, a delivery fee of $10 per statement will be charged.
If you prefer to write paper checks, and you expect to maintain a balance of at least $100, Hershey State Bank’s Regular Checking is the account for you. It comes with unlimited check writing, as well as unlimited debit card and ATM transactions. If you maintain a daily ledger balance of at least $100 throughout the month, you won’t have to pay any service charges. However, if your daily ledger balance falls below $100 at any point during the month, you will be charged a $5 maintenance fee and a $0.20 fee per debit.
NOW ACCOUNT CHECKING
Looking for a checking account that will pay you interest? If you open a NOW Account with at least $1,500 and maintain that balance throughout the month, you can earn interest on the balance of your account. If your daily ledger balance falls below $1,500, you won’t earn interest, but you will still be free of service charges unless it falls below $100. If your daily ledger balance does fall below $100 at any point during the month, you will be charged a $5 maintenance fee and a $0.20 fee per debit.
MONEY MARKET ACCOUNT
If you want to earn higher interest rates than a savings account, and you do not plan on many checks or debits, this account is for you. Like a savings account, you are limited to six preauthorized debits per month, but unlike a savings account, three of those debits can be checks written directly to third parties. While checks, telephone transfers, and automatic transfers will count against your limit of six preauthorized debits, withdrawals at the teller line and ATM are unlimited. For any balance under $2,500 you will earn interest at the same rate as a savings account. For all balances above $2,500 you will receive higher rates, increasing in tiers as your balance increases. You can easily avoid all service charges for this account by staying within the limit of six preauthorized debits per month; however, if you exceed that limit, you will be charged $5 per excess debit.
BUSINESS INTEREST CHECKING
This account, available exclusively to businesses, combines the higher interest rates of our Money Market Account with the convenience of our Regular Checking. Businesses that open this account can write unlimited checks, while still earning Money Market-level interest rates, as long as the average daily balance stays at or above $2,500. If the average daily balance falls below $2,500 at any point during the month, a $25 maintenance fee and a $0.20 fee per debit will be assessed.
It is never too early to start saving. At Hershey State Bank we offer very competitive rates, and it only takes $10.00* to open an account. You can make unlimited withdrawals at the teller line or the ATM and up to six telephone, online, or automatic transfers or payments per month. You can enjoy all the benefits of this account without any fees, as long as you stay within the limit of six preauthorized debits per month (each excess debit will cost an excess use fee of $5), and maintain a daily ledger balance of at least $100 throughout each calendar quarter. If your daily ledger balance falls below $100, you will be charged a $2 maintenance fee; however, if you are a minor (18 and under) this minimum balance requirement can be waived.
*If you are 18 or older and open an account with less than $100, you will be subject to a $2 maintenance fee for the calendar quarter in which you open the account.
GOLDEN AGE CHECKING
If you have reached your 60th birthday, this account is for you. There are no minimum balance requirements and no activity fees.
HEALTH SAVINGS ACCOUNTS
Are you looking for a great way to save for medical expenses? If so, this account could be for you!! If you have a high deductible health insurance plan, you may qualify for a Health Savings Account. HSAs are designed exclusively for the purpose of saving for and paying for qualified medical expenses. To see if you qualify for an HSA, please contact a personal banker at one of our locations.