Your Life and your needs are unique. At Wayne Bank and Trust Co. We understand that your financial needs are unique too. That's why we created accounts to fit every need. From Simply Free checking to our Golden Eagle 50 account, each offers its own unique benefits and each is FDIC insured.
|Personal Checking Accounts||
Golden Eagle 50
|Monthly Service Fee||$0 (direct deposit)*||$0 with min. balance||$0 with min. balance||$0 with min. balance|
|Minimum Balance to Avoid Fee||$0||$400||$1,000||$100|
|Monthly Fee if Balance Falls Below Min.||$0||$7||$8||$3|
|Minimum Opening Deposit||$25||$100||$100||$100|
|Free Personalized Checks||First order||•|
|Earn Interest||Any balance above $500||On any balance|
|Unlimited Check Writing||•||•||•||•|
|Free Direct Deposit||•||•||•||•|
|Free Online Banking||•||•||•||•|
|Free Online Bill Pay||3 months**||•||•||•|
|Free Online Digital Check Imaging||•||•||•||•|
|Free E-Mail Alerts||•||•||•||•|
|Free ATM Debit/Card||•||•||•||•|
|Free Withdrawals - Wayne Bank ATM||•||•||•||•|
|Free Cash Back at Point of Sale||•||•||•||•|
|Free Coast To Coast ATM Refunds||Up to $8 per card/per mo.||Up to $16 per card/per mo.||Up to $8 per card/per mo.|
|20% Discount on Safe Deposit Rental||•||•|
|Free Year End Statement CD||Upon Request|
|Monthly Check Image Statements||•||•||•|
|Free Money Orders||3 per month|
|Free Notary Service||•|
|*$3 monthly fee without direct deposit|
|**$4.95 per month after 3 months|
|***Requires credit approval|
|Please see account representative for full account details and disclosures.|
Savings - A savings account that requires a minimum balance of $300 to earn interest (paid quarterly). You may make two withdrawals per month at no charge, each additional withdrawal per month is $0.50. You must deposit $100 to open this account.
Youth Savings - A savings account for our customers that are below the age of 18 years. This account will earn interest on any balance (paid quarterly). You must deposit $5 to open this account.
529 College Savings Plan-
- The 529 Savings Plan is an avenue for parents, grandparents, aunts, uncles and other family members to contribute to a savings plan for a child to pay for college and that can offer a tax benefit for the giver (as long as the funds are used for qualified education expenses)!
- The funds can be used at any accredited college, university or technical school in any state.
- Contributions can be made regardless of income with extremely high maximum contribution limits-up to $298,770.
- The tax benefits are that the earnings grow federally and Indiana state tax-free and distributions to pay qualified education expenses are tax-free! Special tax credits are available to Indiana taxpayers as well. Contributions are eligible for an Indiana state income tax credit of 20% up to $1000 per year!
- Learn more at https://www.collegesavings.com/waynebankwaytru
Christmas Club - A simple interest account that allows you to save for the holidays. You must deposit $3 to open this account. Christmas Club checks are distributed mid-October each year.
Health Savings Account - A Health Savings Plan (HSA) is an indivdually-owned, tax advantaged account that is used for health care expenses for those who have high deductible health plans (HDHP). You can use it as you acquire expenses or save the funds for futurte expenses. You decide what expenses you pay with your HSA fund. An HSA offers triple tax savings with pre-tax or tax-deductible contributions, tax-free interest and invesmtent earnings and tax-free distirbutions (when used for eligible medical expenses).
What are the benefits of an HSA?
- Contributions are pre-tax or tax-deductible and can be made by anyone.
- Earnings are tax deferred.
- Distributions are tax-free if used for qualified medical expenses.
- These expenses can be for you, your spouse and your tax dependents.
- Unused funds and earnings can be carried over from year to year.
- HSAs are portable - even if you changes jobs or stop working. There is no "use it or lose it" rule.
- You Must be enrolled in a high deductible health plan (HDHP).
- An HDHP generally has lower premiums than other types of health plans, but also has higher deductibles. There are minimal deductibles and limited out-of-pocket expenses to qualify as an HDHP.
- Inquire with your health insurance provider to see if your health plan meets these requirements.
Our HSA Offers:
- No enrollment fee
- No annual fee
- Free debit card for you and an authorized signer with no transaction fees
- Free online banking
- Free e-statements
- Free checks
- Tiered interest rate
Silver Eagle Money Market Savings - A Money Market Savings Account developed to compete with mutual funds and passbook accounts at other banks. The advantage is that the customer has daily access to their funds, and that the rate will adjust as the market rates adjust. This is ideal for the customer who is unsure of tying their money up in a Certificate of Deposit but still wants to take advantage of future interest rate increases. The minimum balance to obtain the 91-day Treasury Bill rate is $5,000. (If the balance falls below the $5,000 minimum anytime during the month, a fee of $11 will be assessed and no interest will be earned.) The rate change is effective the first business day of each month. *See restrictions
Money Market Deposit Account - A Money Market Savings Account developed to compete with mutual funds and passbook accounts at other banks. The advantage is that the customer has daily access to their funds, and that the rate will adjust as the market rates adjust. This is ideal for the customer who is unsure of tying their money up in a Certificate of Deposit. An interest bearing account that requires a minimum of $500 to earn interest. The minimum balance required to avoid a service charge of is $2,500. (If the balance falls below the $2,500 minimum anytime during the month, a fee of $11 will be assessed and no interest will be earned.)You must deposit a minimum of $100 to open this account. Unlimited withdrawals may be made by mail, telephone or in person. *See restrictions
*Restrictions for Silver Eagle Account and Money Market Savings - By Federal Regulation, you are allowed only 6 third-party withdrawals or transfers by check, ATM card or similar payment per month on a Money Market account. However, you can make unlimited withdrawals at no cost at Wayne Bank's ATM, in person at the Bank, or by request mailed to the Bank.
Wayne Bank and Trust CO. offers a variety of Certificate of Deposit terms. They range from 91 days to 5 years. You must deposit a minimum of $1,000 to open a CD.
Pay no income tax on the contributions or the earnings until you withdraw funds. Individuals who qualify may contribute up to $4,000 for 2007, $5,000 effective 2008 or 100% of earned income, whichever is less. Individuals age 50 or older will benefit from even higher limits, allowing those closest to retirement to save even more.
A great way to diversify your portfolio. A Roth IRA is similar to a traditional IRA, but you deposit after-tax funds, some distributions are tax-free, and eligibility requirements have been expanded to allow greater funding. Tax-free earnings make a Roth IRA attractive.
- Fax Service
- Notary Service
- Safe Deposit Boxes
Your valuables and important papers can be safe and secure from fire, theft and prying eyes. We have several sizes of boxes available to best suit your needs and budget.
- Visa Travel Money Cards and Visa Gift Cards
We offer both VISA and MASTERCARD, contact any Wayne Bank and Trust CO. representative to receive an easy to complete application.
FDIC's Electronic Deposit Insurance Estimator (EDIE)
Click here to access:EDIE calculates the insurance coverage for Personal Accounts—deposits held by people in single accounts, joint accounts, POD/ITF accounts, living trust account, irrevocable trust accounts, and Individual Retirement Accounts (IRAs); Business Accounts—deposits held by corporations, partnerships, and organizations, both for-profit and not-for-profit; and Government Accounts—deposits held by public units such as school districts, cities, municipalities, counties, and states