Checking Account Options

A checking account is one of the foundation financial services of personal banking. Iowa Trust offers several types of checking accounts to meet the individual needs of our customers.

Classic Checking Advantage Checking Preferred Checking
Description Basic Checking Account Interest Bearing Checking Account for those who maintain higher balances in deposits and loans. Interest Bearing Checking Account with additional interest tiers for higher combined balances.
Minimum to Open $100 $100 $100
Interest Bearing N/A Checkmark Checkmark
Monthly Fee $4 $4 $4
How to avoid fee: Maintain a combined average available balance of $3,000 in deposits and loans or sign up for E-Statement. **** Maintain a combined average available balance of $10,000 in deposits and loans. Maintain a combined average available balance of $50,000 in deposits and loans.

*** Fees are also waived for customers ages 0 through 23 ***
Full disclosure of all savings account requirements, services, funds availability and fees will be made available at the time of opening the account or upon request
Iowa Trust has the right to refuse any deposits

Checking Account Benefits

Whether you use a debit or bank card, personal checks or online payment methods, Iowa Trust can help you start a checking account in a matter of minutes. Click here to get started using our secure system.

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  • Keeps your money safe
  • Access your funds easily
  • Money management

Insured Cash Sweep (ICS)

With the ICS service or Insured Cash Sweep, you can access multi-million-dollar FDIC protection by working directly with just one bank. As a member of the ICS network, Iowa Trust will place your funds into demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or both, at other FDIC-insured member institutions. The placement of your funds occurs in increments below the standard FDIC insurance maximum of $250,000 so that both principal and interest are eligible for coverage. By working directly with Iowa Trust, you can access the insurance coverage from many. To learn more, contact an Iowa Trust Customer Service Representative.

Health Savings Account (HSA)

An HSA allows you to save money for specific medical expenses, such as doctor visits, prescription medication and other things not covered by your insurance.

Unlike an HSA through an employer, you own this account and can roll the money over year-to-year, use the funds at any time and enjoy these other benefits:

  • No setup or annual fees.
  • Contributions are tax deductible.
  • Interest grows tax free.
  • Withdrawals are tax free when used for qualified medical expenses.
  • Must be covered under a high deductible healthcare plan