Savings Account
Set aside funds with an account that earns higher interest rates paid on increased balances.
- Initial deposit of $100 or $20 to open for children under 18 years of age
- No monthly maintenance fee with a minimum daily balance of $100.00, otherwise $3.00 per month
- Fees waived for children under 18 years of age until their 18th birthday
- Limited to six convenient transfers* per month, $1.00 per withdrawal thereafter
*Convenient transfers and withdrawals are defined as preauthorized, automatic, telephone, or computer transfer or by check, draft, debit card, or similar order to third parties.
Educating children about financial responsibility is important at any age. Learn more at moneyasyougrow.org!
Money Market Account
Earn attractive interest rates and build toward financial security. Four tiers offer higher interest rates paid on increased balances.
- Initial deposit of $1,000.00
- Earn interest on average collected balances, paid and compounded monthly
- No monthly maintenance fee with a minimum daily balance of $1,000.00 or an average balance of $1,500.00. Otherwise, a $5.00 monthly maintenance fee
- Limited to six debits per calendar month, $3.00 fee per item over limit
- Monthly statements include digital images of cancelled checks
Both Saving and Money Market accounts offer Online Banking, Phone Bank Teller and E-Statements. Call your local branch for details and current rates or Contact Us. Full terms and conditions are available at any of our branch locations.
Certificates of Deposit
Certificates of Deposit (CDs) are a safe and low-risk way to invest funds that you do not need immediate access to. CDs traditionally offer a higher rate of interest than Savings and Money Market accounts. With a Farmers Bank of Kansas City CD, you choose the term ranging from 3 months to 5 years. Your interest rate is guaranteed for the specific term you choose. You may choose to have your interest compounded into the CD, transferred to another account, or have a check mailed to you.
CDs are automatically renewable which means if your CD comes due and you want to leave it in for the same term again, there is nothing additional you must do. If you would like to change the term or withdraw your CD, you will have 10 days from the maturity date to make any adjustments. You will be notified when interest is paid and when your CD matures.
Call your local branch for current rates or Contact Us. Early withdrawals are subject to penalty. The penalty may be waived on personal CDs if the money is needed for health care reasons.
Minimum deposit for our Certificates is $1000 (may be reduced for CDs opened for minors).
IRAs
Farmers Bank offers several types of Individual Retirement Accounts (IRA’s) to help you prepare for retirement. IRAs are a great way to save for your future and gain tax benefits today. Consult your tax advisor for the option(s) that best fit your needs.
All of our IRA products are offered as Certificates of Deposit with terms ranging from 3 months to 5 years.
Health Savings Account
Health Savings Accounts (HSA’s) are accounts established exclusively for the purpose of paying qualified medical expenses for the account beneficiary, spouse and children covered under a high-deductible health plan. Open a Farmers Bank & Trust HSA for you and your family or HSA’s can also be a great option for small businesses looking to provide affordable health care coverage for their employees.
Contributions can be made to HSAs by individuals or employers up to the annual limit. These contributions may be deducted for tax purposes. Funds in HSAs are not required to be used each year. The plan will earn interest and continue to grow even when you have no medical expenses to pay.
Opening HSAs can be a smart business decision that benefits both your company and your employees. Enhance employee health benefits while controlling health care costs. Paired with a qualified high-deductible health care plan, an HSA helps make the most of your healthcare dollars. With an HSA, you can receive tax benefits for you and your employees.
- No setup fees
- VISA®debit card for quick and easy payments. Checks available upon request – first 15 free, printed in-branch
- No minimum balance
- Free with e-Statement enrollment, otherwise a $2 monthly service charge applies
Contact your health insurance provider to see if you qualify for a Health Savings Account.
Learn more about all the great E-Services from Farmers Bank of Kansas City
Mobile Banking
Manage your money on the go with your mobile device.
Online Bill Pay
Pay bills with just a few keystrokes.
Online Banking
Instant access to your accounts 24/7.
E-Statements
Go paperless to reduce clutter.