Photo of doctor with a stethescope

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

Find Out More
* 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.

Elder Financial Exploitation Awareness

SouthWest Bank would like to take the opportunity to raise awareness of a vital issue affecting the elderly – financial exploitation.

Financial exploitation of adults who are elderly is an increasing problem and protecting them from becoming victims is everyone’s business.

Financial exploitation is the illegal or improper use of another person’s money or property for personal profit or gain.

Fraud by friends and family – new “best friends,” thieving caregivers, religious con artists, and financial abuse by family members—these are examples of exploitation and should be reported to Adult Protective Services at 1-800-252-5400.

How to protect yourself from becoming a victim:

  • Don’t sign blank checks allowing another person to fill in the amount.
  • Don’t leave money or valuables in plain view.
  • Be aware of scams (either by phone or through the mail). If it sounds too good to be true, it probably is.
  • Don’t give strangers access to your bank accounts.
  • Check your financial statements frequently and carefully for unauthorized withdrawals.
  • Don’t sign any document you have not completely read or fully understand.
  • Don’t be pressured by family members, friends, caregivers, or anyone to do anything you don’t want to do.
  • Avoid or hang up on strangers who want to take your money or know about your finances.
  • Say “No!” to anyone who presses you to make an immediate decision.
  • Count your change and check your receipts.
  • Don’t give your credit card number over the phone unless it’s a reputable company.
  • Be cautious if you don’t have experience in handling money.

If you are looking for more information on abuse, neglect, and exploitation of people who are elderly or have disabilities, contact the Texas Department of Family and Protective Services.

Source: Texas Department of Family and Protective Services