Health SavingsPLUS Account

Interest Rates and Annual Percentage Yields are current as of  April 19, 2014. For current rate information call (847) 952-3700.

Account Features
  • Free First American MasterCard® debit card
  • Free Mobile and Online Banking
  • Free eStatements
  • Free front check images in account history
  • Invest a portion of your HSA in a selected group of mutual funds1

Account Opening and Usage
Minimum Deposit Needed to Open Account  
 $
0.01
   
Monthly Fee  
 $
4.00
   
Excess Contribution Fee  
 $
20.00
  Per occurence
Account Transfer Fee  
 $
25.00
  If you transfer your HSA to another financial institution
Interest Paid on Entire Balance if your Balance is:
Tier: $0.01-$999.99 Interest Rate   0.03  % Annual Percentage Yield (APY) 0.03 %
Tier: $1,000-$4,999.99 Interest Rate   0.10  % Annual Percentage Yield (APY) 0.10 %
Tier: $5,000-$49,999.99 Interest Rate   0.15  % Annual Percentage Yield (APY) 0.15 %
Tier: $50,000-$99,999.99 Interest Rate   0.20  % Annual Percentage Yield (APY) 0.20 %
Tier: $100,000-$999,999.99 Interest Rate   0.25  % Annual Percentage Yield (APY) 0.25 %
At First American's discretion, the interest rate and APY may change at any time. Interest is earned on the collected balance each calendar day using the daily balance method. This method multiplies the daily periodic rate times the collected balance plus any previously earned and unpaid interest compounding earnings daily. Interest earned is paid monthly. You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed APY. Interest earned and not paid will be forfeited when the account is closed unless the balance is transferred to another First American account. Interest will be reported to the IRS.
ATM Fees:
First American ATM Withdrawal  
 $
0.00
   
Non-First American ATM Withdrawal  
 $
3.00
  At ATMs not owned by First American Bank
ATM Balance Inquiry  
 $
2.00
   
Addtional Account Fees:
Check Image Fee  
 $
0.00
  Front only (fronts and backs $2.50)
Returned Item Fee  
 $
39.50
  Per declined item written to your account
Online Stop Payment Fee  
 $
20.00
  Per item to stop payment for 6 months
($30.00 through Customer Service or in a branch)

Account Closing Fee  
 $
25.00
  If closed within 6 months
Paper Statement Fee  
 $
3.95
  Within the first 30 days after an account is opened, the primary owner (designated by the first named owner on the signature card or on the statement) must enroll in our Online Banking service and accept the Online Banking Agreement to receive free electronic statements. If the Online Banking Agreement is not accepted within the first 30 days of account opening, your account will be subject to the Paper Statement Fee. See Schedule of Fees.
Other Fees  
 
 
   Schedule of Fees

Processing Policies
Posting Order
The order in which withdrawals and deposits
are processed
      Transactions may not be processed in the order they occurred. The order in which they are processed by us may affect the total amount of overdraft fees you incur. Any item that exceeds your available balance is an insufficient funds item. We may pay or return any insufficient funds item at our discretion. Regardless of the action we take, you may be charged an overdraft fee or return item fee. If at the close of any business day the available balance in your account is negative, you may be charged a continuous overdraft fee. See Schedule of Fees.
Rules and Regulations Governing First American Bank Governing Deposit Accounts (page 4)
Funds Availability Policy
When funds deposited to your account are available
      Our policy is to make funds from your check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits, wire transfers, and cash will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.
Rules and Regulations Governing First American Bank Governing Deposit Accounts (page 8)

Dispute Resolution
Dispute Resolution Agreement       You and we agree that any dispute arising under or relating in any way to your account or transactions will be resolved by binding arbitration as discussed in the document, and not through litigation in any court (except for matters in small claims court). This arbitration agreement is entered into pursuant to the Federal Arbitration Act, 9 U.S.C. §§ 1-16 ("FAA").
Rules and Regulations Governing First American Bank Governing Deposit Accounts (page 5)


1 Investors should carefully read the Fund prospectus, which includes information on the Fund's investment objectives, risk, as well as charges and expenses along with other information before investing or sending money. Funds in the investment portion of your Health SavingsPLUS account are not FDIC insured, May Lose Value and are Not Bank Guaranteed.

Neither First American Bank nor its subsidiaries (collectively "First American Bank") are registered investment advisors nor is First American Bank acting in the capacity of a registered investment advisor with respect to the offering of Health Savings Account ("HSA") investment options. Participation in the investment options is voluntary. Under no circumstances is First American Bank offering any of the HSA investment options and makes no representations with respect to the investment options offered.

First American Bank disclaims any and all liability, contingent or otherwise, for the performance of the investment options. Please see your financial advisor for personal investment advice.

Schedule of Fees

Rules and Regulations Governing First American Bank Deposit Accounts

Member FDIC

First American Bank
P.O. Box 0794
Elk Grove Village, IL 60009