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Health Savings Accounts

A SouthWest Bank Health Savings Account (HSA) is a great way to save for medical expenses. An HSA account is similar to a personal savings account and is available to those with a qualified high deductible health plan (HDHP). The funds from an HSA account can be used for qualifying medical expenses such as doctor visits, prescriptions, vision care and dental work. HSA accounts at SouthWest Bank are subject to a $5 service charge.

  • Contributions in the account are tax-deductible provided you follow IRS guidelines.
  • Interest earned on an HSA is tax-free.
  • Withdrawals for qualified medical expenses are tax-exempt.
  • You will never lose your funds if you don’t use them.
  • Your funds are rolled over and kept in your account from year to year.
  • The account belongs to you, which means it can move with you.
  • Easy access to your funds with a SouthWest Bank ATM/Debit Card.

Health Savings


Minimum to Open
  • Unlimited transactions and interest bearing* account.
  • $0.01 Minimum Daily Balance to Obtain APY
  • Interest Paid: Daily Balance Method**
  • $5 Monthly Service Charge

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* This account is an interest bearing account. The interest rate and annual percentage yield (APY) are included in the Rate Chart. The interest rate and APY may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly. If the account is closed before interest is credited, you will not receive the accrued interest.

** This method applies a daily periodic rate to the collected principal each day your balance is above the stated account minimum. Interest begins to accrue no later than the business day the bank receives credit for your deposit.

ATM Safety Notice

At ATMs:

  • Be aware of your surroundings and exercise caution when withdrawing funds.
  • Inspect ATMs for tampering or for unauthorized attachments that capture information.
  • Put cash away immediately.
  • Don’t count cash until you’re in a locked enclosure (e.g. your car or home).
  • Make sure no one is watching you enter your code or PIN.

Protect your ATM or debit card:

  • Treat your card as if it were cash.
  • Safety envelopes may prevent unauthorized scanning of debit cards with imbedded chips.

Reporting a lost or stolen ATM or debit card to SouthWest Bank:

  • Call 432-552-5000 during business hours or 1-844-202-5331 after hours to report the loss or theft. Your liability may increase the longer the loss or theft goes unreported.
  • Obtain a new card and PIN.
  • If your checkbook, social security card or number, driver’s license or number, etc. was lost or stolen, close your account and open a new one.

If a crime was committed, file a report with law enforcement where the crime occurred, and obtain a copy or the offense number.

If you see suspicious persons or circumstances:

  • Do not use the ATM at that time.
  • If you began a transaction, cancel it, take your card, and leave.
  • Come back at another time or use another ATM.

Store ATM receipts in a secure location or shred them.

Do not give information about your cards on the telephone or the Internet, unless it is a trusted merchant and you initiated the transaction.

Review your bank statement immediately, and periodically review your account online. Compare your ATM receipts against your statement or your online account.

When finished using a card online, log out of the website rather than merely closing the web browser.