WesBanco Savings Accounts
WesBanco Bank, Inc. is a Member FDIC

Statement Savings Accounts

Statement Savings Accounts permit the customer to record his/her own transactions in a savings register, which is provided by the bank. 

Features:

• Maintain Daily Minimum:

• An initial deposit of $50 is required to open the account
  (A $10 deposit is required for minor’s accounts);
• The maintenance fee will be waived for accounts using a minor’s social security number;
• Statements are mailed quarterly; however, if an account has had an electronic debit posted, the customer will receive a statement for the month the electronic debit posted. If the Statement Savings Account is set up as a combined statement (Portfolio), the customer will receive a statement monthly;
• Interest is accrued daily on the collected balance and is compounded and credited to the account quarterly on the statement date. If the customer’s account is set up as a combined statement (Portfolio), the interest is compounded and credited to the account monthly on the statement date;
• A statement savings account can be linked to an existing WesBanco MoneyCard® to allow the customer access to their funds through the ATM. POS (Point of sale) transactions are not permitted;
• The account is limited to 6 pre-authorized transactions per month, three (3) of which may be made to third parties (E.g.: ACH insurance draft);

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WesBanco Premium Savings Account


The WesBanco Premium Savings Account features tiered interest rates.

• An initial deposit of $2,500 is required to open an account;
• The interest rate paid is based on balance:

• The account is limited to 6 pre-authorized transactions per month, three (3) of which may be made to third parties (E.g.: ACH insurance draft);
• Statements are mailed on a monthly basis;
• Interest is paid monthly and will appear on monthly statement;
• If the daily balance falls below $10,000 at any time during the month a $10 fee is assessed.
• Account does not earn interest in bottom tier.

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WesBanco Basic Money Market Account


The WesBanco Basic Money Market Account permits limited check writing and has a competitive interest rate.

• An initial deposit of $1,000 is required to open an account;
• Interest paid on collected balances of $1000 and more;
• Six pre-authorized transfers or withdrawals per month are permitted, three of which may be checks payable to third parties. If the transaction limit is exceeded, there is a $15 per excess item fee assessed to the account. Subsequent violations may result in changing the account to a non-interest bearing checking account or an interest bearing checking account, if account holder is eligible to hold an interest bearing checking account;
• Monthly imaged statements;
• Interest is paid monthly and will appear on monthly statement;
• Personalized checks are provided at no cost;
• If the balance falls below $1,000 at any time during the month a$10 fee is assessed.

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WesBanco Premium Money Market Account


The WesBanco Premium Money Market Account permits limited check writing and is interest bearing at a market index.

• An initial deposit of $10,000 is required to open an account;
• The interest rate paid is based on balance:

• Six pre-authorized transfers or withdrawals per month are permitted, three of which may be checks payable to third parties. If the transaction limit is exceeded, there is a $15 per excess item fee assessed to the account. Subsequent violations may result in changing the account to a non-interest bearing checking account or an interest bearing checking account, if account holder is eligible to hold an interest bearing checking account;
• Statements are mailed on a monthly basis;
• Interest is paid monthly and will appear on monthly statement;
• Personalized Checks are provided at no cost;
• If the daily balance falls below $10,000 at any time during the month a $10 fee is assessed.

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Automatic Deduction Christmas Club Accounts


Our Automatic-Deduction Christmas Club makes it easy for you to save.

Just choose the amount of money you want deducted each month from your Wesbanco checking or savings account and we'll automatically deposit it in your Christmas Club account. These deductions can be made once a month or twice a month, beginning the day after the third Monday in October. Come October of each year, you'll receive your check for the amount you saved, plus interest.

There's also automatic payroll deduction for your convenience. You choose the amount and the time period, and your employer can deduct the amount from your pay and arrange for the transfer to your Christmas Club Account. You can transfer any amount over $10.

• A minimum deposit of $10 is required to open a new club. Existing clubs automatically reopen with the first deposit of the new club year;
• Payments may be made in any denomination of $10 or more, and may be made once a month or twice a month;
• Interest is accrued daily on the collected balance and is paid on an annual basis, at the time the Christmas Club check is produced in October;
• If any or all of the funds in the account are withdrawn prior to the issuance of the annual check, a $10 penalty will be assessed;
• If the account is closed prior to issuance of the annual check no accrued interest will be paid and a $10 penalty will be assessed;
• A Christmas Club must be open for a period of 90 days before it may be closed.