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Account Comparison

 Three great ways to save?

Use this comparison chart to select the savings option that is best for you.
 
Personal Savings​ Youth Savings​ Health Savings Account​ Coverdell Education Savings​ Money Market

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Best if you want...

​A simple account with a low initial deposit

A starter account for kids under 18 that rewards them for saving

​An account that can help you save tax-free1 for medical expenses

 

​A tax-exempt savings plan for educational expenses
Tiered interest rates that reward higher balances
Account Access
Teller and ATM withdrawals
 
Teller and ATM withdrawals
Teller, ATM, debit card or check withdrawals
Teller and ATM withdrawals
Teller, ATM, check card or check withdrawals
Transaction limits
Six free withdrawals and/or transfers per quarter.2
Six free withdrawals and/or transfers per quarter.2
Transactions must be for qualified medical expenses
Transactions are tax exempt if used for qualified educational expenses
 
Six free pre-authorized withdrawals and/or transfers per month.3
Minimum opening deposit
$100
$1
$100
$100
$2,500
Minimum daily balance to avoid fees
$100
None
None
None
$2,500
Monthly fee if minimum is not met
$5
None
None
None
$10
Deposits
Unlimited free deposits
Unlimited free deposits
Unlimited free deposits
Up to $2,000 annually
 
Unlimited free deposits
Special Features
A low opening deposit makes it easy to get started.
PlainsCapital will make a $5 deposit on your child's birthday - every year - until they turn 18.
Provides tax advantages when money is used for qualifed medical expenses.4
Provides tax advantages when money is used for qualified education expenses.4
 
Checks and a check card.
Insured by the FDIC up the maximum amount allowable by law
Insured by the FDIC up the maximum amount allowable by law
 
Insured by the FDIC up the maximum amount allowable by law
Insured by the FDIC up the maximum amount allowable by law
Insured by the FDIC up the maximum amount allowable by law
No
No
No
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Available for parent of guardian over age 18
 
Yes5
No
Yes
Yes
Yes
Yes
Yes
Yes
Free check images with statements
N/A
N/A
Yes
N/A
Yes
Free checks
N/A
N/A
One box of HSA-branded checks per year
 
N/A
First box of standard bank checks
Free direct deposit
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
1.If HSA money is used for anything other than a qualifed medical expense, the money used is taxable and will also be penalized an additional 10 percent. 2.Six withdrawals and/or transfers are allowed per quarter. Thereafter, a charge of $3 per transaction will apply. 3.Under federal regulations, six pre-authorized withdrawals and/or transfers are allowed per month, no more than three of which may be by check, point-of-sale or ACH. Thereafter, a charge of $10 per transaction will apply. 4.Consult your tax adviser. 5. HSA Visa Check Card transactions will not be authorized in restaurants, bars, hotels or gambling venues. In addition, the card cannot be used at the ATM. Cash withdrawals can be completed at any PlainsCapital Bank locations.