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2024-12-02
Local Banking
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Finding the Right Checking Account in Stillwater, MN with FSBT

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A checking account may seem simple, but it is one of the most important financial tools you can have. It’s the first place your paycheck arrives, and the hub of all your spending and saving choices. It’s important to pick a checking account that helps you to keep track of your finances, and that does more than just the basics.

In Stillwater, and the surrounding communities, you have plenty of choices when it comes to finding a checking account that works for you. They range from big-name national banks to small community banks (and everything in between). How do you decide? In this article, we will look at all the different features and options to consider when selecting your new checking account and share why we think a First State Bank and Trust account offers some of the best value on the market.

 

Checking Account Basics

Think of your checking account as the heart of your financial life. When you earn money, you or your employer deposit it into checking first. From there, you can pay bills, withdraw money for daily purchases, or transfer some to a savings account for the future. Today’s checking accounts (including FSBT’s) also come with all kinds of bonus features:

  • Online and mobile banking
  • Debit/ATM card
  • Overdraft protection
  • Earned interest (with some accounts)
  • Free checks (with some accounts)

Keep in mind that some accounts with more perks also come with more stringent requirements:

  • Minimum deposit to open
  • Minimum monthly balance (with fees if not maintained)
 

Different Accounts for Different Folks

Most banks offer a few different account types, each suited to a different type of client. At FSBT, we offer four checking accounts because we know that not everyone has the same needs and the same banking experience. You can open any account with just $20, but each offers its own set of benefits and requirements. Here’s a quick rundown of our checking accounts and what makes each one unique:
 
A traditional checking account with paper statements, 1914 has everything you’re used to (and a few bonuses). You’ll get a debit card, 20 free checks, overdraft protection, and possible discounts on your consumer loan. You must maintain a minimum balance of $100 at all times, or pay a $3 monthly fee and an additional fee for debit transactions.
 

eChecking

Designed for the tech-savvy client, eChecking is our most popular checking account. One of the best perks our clients like most about this account is there is no minimum balance requirement. You manage your money with an online or mobile interface, so you can make financial decisions any time and from anywhere.

Croix Club

If you’re 50 years old or above, Croix Club is the account for you. You receive free standard checks and money orders, image statements, and more. There is also no minimum balance requirement.

First Class

First Class is the luxury model of checking accounts. Not only do you get all the standard benefits from the other accounts mentioned above, but you also get a free 3 x 5 safety deposit box. Best of all, your money isn’t just sitting in the account — it is earning valuable interest. There are three interest tiers, depending on how much money you keep in the account: up to $10,000, $10,000-$50,000, and $50,000 and above. The only tradeoff is that you’re required to keep $1,000 minimum in the account at all times, or you will be assessed a fee of $15 per month.

 

Check In About Checking

We know you can choose to bank with anyone, especially now that so many digital options are available. At FSBT, we believe that after serving the St. Croix Valley for over a century, we understand the diverse needs of our communities. We are truly invested in giving you the tools you need to achieve your financial and life goals.

When you are ready to open a checking account that fits your needs, we can help you review your options and get started. Come visit a nearby branch of First State Bank and Trust or get in touch with us today to find out more. We look forward to working with you!

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