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Q. What type of savings accounts does BankSouth offer?
A. BankSouth currently offers 5 different types of savings accounts:
- Regular Savings
- Combined Savings (Combines your Savings Statement to be delivered with your monthly Checking Statement)
- Kids Savings
- Christmas Club
- Business Savings
Q. Is there a minimum opening balance for a savings account?
A. Yes, there is a minimum balance required to open a savings account. Our minimum balance varies based on the type of savings account you select. However, please note that the amount that you keep in your account will determine the interest paid to your account or the fees you may incur.
Q. Where can I find the interest rates for a savings account?
A. Please contact one of our local branches and we’ll be glad to provide the current interest rate and APY.
Q. How do I apply for a savings account?
A. It’s easy to apply for a savings account. Visit one of our local offices and speak with a Personal Banker.
Q. When do I start earning interest on my savings account?
A. Interest is calculated on a collected funds basis. What this means is when we receive credit for the deposited items your account begins to accrue interest.
Q. How is interest paid on my savings account?
A. Interest is accrued daily and credited monthly, quarterly or annually, based on your type of Savings Account.
Q. What do I need to submit a dispute on my savings account?
A. Please provide your BankSouth statement and any associated receipts or billing information.