Yes, all non-Trust deposit accounts at Winona National are covered by FDIC guidelines.
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The interest your savings account earns is added to your account at the end of each quarter. On your monthly statements you will see the accrued interest listed in the summary information. When the interest is deposited to your account, the amount will appear in the "Credits" portion of your statement.
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Signature cards tell us who can legally access the account and what rights they have. If you have changes in your life or business, they may impact who should be accessing the account.
Here some examples of when you should update your card:
Personal accounts
- change in relationship (marriage, divorce, etc)
- addition of family members who are signing on the account
- child turns 18
Business or Organization accounts
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With a variable rate CD when bank interest rates go up the interest rate on your variable rate CD goes up. With a fixed rate CD the rate is set for the period of time you have the CD.
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A debit card is linked to a deposit account, generally a checking account. When a debit card is used, the funds are immediately deducted from the account it is linked to. You must have the funds in your account to make purchases with a debit card.
A credit card is a revolving line of credit. When you use a credit card, you are loaned the money for the purchase. When you receive your credit card bill, you pay back the loan.
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If you already have an account with us, you will need to provide the organization who will be making the deposit our routing number and your account number. Your account number can be found on your original account papers or on your checks or deposit slips.
Our routing number is: 091900216
If you have additional questions or need more information, please contact one of our Retail Bankers at 454-4320.
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You will only receive a 1099 form if the interest you earned on that account is $10 or more. If the interest earned is less than $10 it is not reported to the IRS by the bank and you do not need to report it on your taxes.
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A tiered account has different balance levels that pay different interest rates. The higher the balance, the higher the interest rate. Our Money Fund accounts are tiered accounts. Here is an example of the tiers:
$0.00 to $999.99
$1,000.00 to $9,999.99
$10,000.00 to $24,999.99 etc.
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Account View is a product offered by Winona National that allows you to receive your account information on a CD. You can view your account history, including deposit items, and manipulate the information to make balancing your account easy. To learn more about Account Viewer, contact one of our Commercial Loan Officers.
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