Personal Checking & Savings Accounts in Minnesota
Checking, savings, money market and health savings accounts. Opened by people who live where you live.
Contact us todayChoosing where your paycheck lands should take one conversation, not an afternoon of comparison shopping. Below are the nine personal checking, savings and money market accounts we offer across Minnesota, what each one costs, and who each one fits.
Personal checking accounts, simple and convenient
Our personal checking accounts are designed to make banking easier and convenient, offering straightforward solutions that align with your financial habits. Whether you are looking for basic banking or additional features, our accounts provide the flexibility to fit your lifestyle.
Four accounts, and the difference between them comes down to two things: how much you keep in the account, and whether you want it to earn interest. If you keep a small balance and want no strings, start with Core. If your balance stays higher, Advantage and Premium pay interest. If you are 55 or older, Gold has no monthly service charge at any balance.
All personal checking accounts include access to:
- Online Banking
- eStatements
- Mobile Banking including mobile deposit
- MyCards within the mobile app that let's you control debit card usage and spending on the go
- Bill Pay
- Optional overdraft protection services
- Debit card
| Core Checking | Advantage Checking | Premium Checking | Gold Checking | |
|---|---|---|---|---|
| Designed For | Looking for no strings and no hassles | Wanting to earn interest while managing their day-to-day finances | Wanting to earn more and save more. | 55 years or older |
| Minimum Balance to Open | $50 minimum balance to open | $500 minimum balance to open | $2,500 minimum balance to open | $50 minimum balance to open |
| Minimum Daily Balance (1) | No minimum balance requirement | $500 minimum daily balance requirement | $2,500 minimum daily balance requirement | No minimum balance requirement |
| Service Charge | $4.95 service charge per statement cycle; waived with eStatements | $5 service charge per statement cycle if daily balance falls below $500 | $10 service charge per statement cycle if daily balance falls below $2,500 | No monthly service charge |
| Earns Interest | No | Competitive Interest | Competitive Interest | Competitive Interest |
| Extra Features | Check images included in your bank statement | Check images included in your bank statement | Check images included in your bank statement Free basic wallet checks (one box per order) | Check images included in your bank statement Free basic wallet checks (one box per order) |
1) To avoid service charge. See the Current Deposit Rates for disclosures on rates, compounding and crediting, and other information.
How to open an account
Most people are done in about fifteen minutes. Here is what it takes.
- Pick the accountUse the tables on this page, or skip it and let a banker point you at the right one. Telling someone how you actually use your money is faster than reading six rows of a comparison chart.
- Gather what you needA government-issued photo ID, your Social Security number, and the opening deposit for the account you chose. Opening jointly means both people bring ID. Opening for a child means bringing the child's information too.
- Open itStart with a personal banker, stop into any of our 21 Minnesota branches, or download the consumer application and bring it with you. Whichever way you start, a real person finishes it with you.
Opening an account for your business instead? Start at business checking and savings.
Grow your savings with savings and money market accounts
Start building your financial future with our personal savings accounts. Whether you are opening your first savings account or looking to maximize returns with a higher-yield money market option, we offer competitive interest rates and flexible solutions tailored to your needs. The more you save, the more you earn, helping you reach your financial goals faster.
Five accounts sit under this heading, and three of them exist for a specific person rather than a specific balance: a saver 17 or under, a household on a high deductible health plan, and someone moving a large sum they want working harder.
All personal savings accounts include access to:
- Competitive interest rates
- Online banking
- eStatements
- Ability to link to any checking account for overdraft protection
- Mobile Banking including Mobile Deposit
- Ability to set up automatic transfers to reach your savings goals faster
| Savings | Money Market | Private Wealth Money Market | Super Kids Savings | Health Savings Account (HSA Checking) | |
|---|---|---|---|---|---|
| Designed For | Looking to start putting money aside | Looking to earn more from their investment | Wanting our most competitive interest rate | 17 and under | Must be in a high deductible health plan |
| Minimum Balance to Open | $50 minimum balance to open | $2,500 minimum balance to open | $100,000 minimum balance to open | No minimum balance to open | $50 minimum balance to open |
| Minimum Daily Balance (1) | $50 minimum daily balance requirement | $2,500 minimum daily balance requirement | $2,500 minimum daily balance requirement | No minimum balance requirement | No minimum balance requirement |
| Service Charge | $5 service charge per month if daily balance falls below $50 | $10 service charge per statement cycle if daily balance falls below $2,500 | $10 service charge per statement cycle if daily balance falls below $2,500 | No monthly service charge | $4.95 service charge per statement cycle; waived with eStatements |
| Extra Features | Competitive Interest | Competitive Interest | Competitive Interest | Competitive Interest | Competitive Interest |
1) To avoid service charge. See the Current Deposit Rates for disclosures on rates, compounding and crediting, and other information.
Savings or money market: which one
A savings account is the place for money you are setting aside and may need. It has the lowest opening minimum on the page and asks little of you. A money market account is for money you have already set aside and want working harder. It asks for a higher balance and pays a higher rate for it.
Private Wealth Money Market is the same idea at a larger scale, and it carries our most competitive interest rate. If you are moving a maturing certificate, a property sale, or an inheritance and you are weighing where to park it, that is a conversation worth having with a banker rather than a web page. The comparison table above has the opening minimum for all three.
Current rates for our standard accounts are published and maintained on our deposit rates page, which is the only place we quote them, so the number you see is always the number in effect. Rates for the Private Wealth Money Market are not published there; they are available when you meet with a banker to discuss the product.
Super Kids Savings, for savers 17 and under
Super Kids Savings opens with no minimum balance and carries no monthly service charge. That is deliberate. A child's first account should not be able to lose money to a fee, because the entire point of it is to show that saving works.
It earns interest like any other savings account, which is usually the moment the lesson lands. A parent or guardian opens it jointly with the child, and it converts to a standard savings account when they age out at 18.
If you are looking for ways to teach the idea before the account exists, we wrote about using board games to teach personal finance.
Bring your ID and the child's Social Security number. If a grandparent is opening it, bring the parent along or call ahead so we can tell you what your situation needs.
A note for parents and grandparents
The other account most families ask about is a custodial account, which is a different thing with different tax and ownership rules. If you are saving for a child's future rather than teaching them to save today, ask a banker which one fits. Our Trust and Wealth Management team handles the larger version of that question.
Health Savings Account (HSA Checking)
An HSA is a checking account for medical costs, with a tax advantage attached. You must be enrolled in a high deductible health plan to open one. Its monthly service charge is waived with eStatements, so an HSA held with eStatements can cost you nothing to keep. The opening minimum and the service charge are in the comparison table above.
It earns interest, it carries no minimum daily balance requirement, and unspent money stays yours and rolls forward year to year. It comes with online banking, eStatements and mobile deposit like every other account here.
Contribution limits and what counts as a qualified medical expense are set by the IRS and change from year to year, so check with your tax advisor rather than with us on those two points. What we can tell you is what the account costs and how to open it.
Is my money safe here?
People ask this more than they ask about rates, and it is a fair question to ask out loud rather than guess at. Here is the straight answer, in three parts.
We have been here since 1935
Longevity is not a promise about the future, but it is a record. Security Bank & Trust Co. has operated in Minnesota since 1935 and has come through every credit cycle since. We are still independent and still locally owned, which means the people deciding how this bank runs are the people you can go see.
You do not have to take that on faith. Our annual report publishes the balance sheet and the year's results, and our history covers how the bank got here and who owns it. If you want to size up a bank properly, those two pages are a better read than anything we could write on this one.
Your deposits are federally insured
Security Bank & Trust Co. is a Member FDIC institution. Deposits are insured by the Federal Deposit Insurance Corporation up to at least $250,000 per depositor, per insured bank, for each account ownership category.
That last phrase is where your real coverage gets decided, and it turns on how your accounts are titled rather than on anything we control. Instead of us estimating it for you, use the FDIC's own calculator, the Electronic Deposit Insurance Estimator (EDIE). It is the regulator's tool, it is free, and it will give you a straight number for your household. Bring what it tells you to a banker and we will work through it with you.
You control your debit card from your phone
MyCards inside our mobile app lets you turn your debit card on and off, set spending limits, and restrict where and how it can be used. A card you have switched off cannot be used by someone who has the number. That control sits with you, not with a call center queue.
It comes with every personal checking account on this page, at no extra cost.
We watch the account, and so should you
Transactions are monitored for unusual activity, and eStatements and mobile banking mean you can see what happened today rather than waiting for paper at the end of the month. Checking your account weekly is the single most effective thing most people can do, because fraud caught early is fraud that gets reversed.
If you think something is wrong with your account right now, go to fraud prevention for what to do first, or call your branch.
Not sure which account fits? Tell a banker how you actually use your money and let them do the comparing.
Talk with a personal bankerPersonal Credit Cards
A credit card is a great way to manage your expenses and build your credit. Our card options are simple and designed for all walks of life. Plus we offer a variety of exciting rewards options that work for you.
Choosing the right credit card is easier than ever.
Whether you want to pay down balances faster, maximize cash back, earn rewards or begin building your credit history, we have the ideal card for you!
No matter which card you choose, you'll enjoy important features like:
- Convenient and Flexible Purchasing Power. Accepted at millions of locations worldwide.
- Mobile purchasing capability for added convenience.
- Zero Fraud Liability.* You won't be liable for fraudulent purchases when your card is lost or stolen.
- Cardmember Service available 24 hours a day/365 days per year.
- Plus much more!
All credit cards are subject to credit approval.
*Elan Financial Services provides zero fraud liability for unauthorized transactions. Cardholder must notify Elan Financial Services promptly of any unauthorized use. Certain conditions and limitations may apply.
The creditor and issuer of these cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., and Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Common questions about personal accounts
What does a personal checking account cost?
That depends on which account you choose and how you use it, and several of them can cost you nothing at all.
Gold Checking has no monthly service charge at any balance. The other three can each be brought to zero, either by switching to eStatements or by keeping the account's minimum daily balance. The comparison table above lists the exact service charge for every account.
How do I avoid the monthly service charge?
There are three ways, and which one applies depends on the account you hold.
- Switch to eStatements. This clears the charge outright on Core Checking and on the Health Savings Account.
- Keep the minimum daily balance. On Advantage Checking, Premium Checking, Savings and Money Market, the charge only applies in a cycle where your balance dropped below the account's minimum.
- Be 55 or older and choose Gold Checking. There is no monthly service charge to avoid.
The comparison tables above show the minimum daily balance for each account, in the row marked with a (1).
What do I need to open an account?
A government-issued photo ID, your Social Security number, and the opening deposit for the account you chose. Opening minimums vary by account, from no minimum at all on Super Kids Savings up to the Private Wealth Money Market, and the comparison tables above list the figure for each one. If you are opening jointly, both people bring ID. If you are opening for a child, bring the child's information too.
Can I open an account online?
Not yet. Today you open an account by talking with a personal banker, stopping into any of our 21 Minnesota branches, or downloading the consumer application and bringing it in. We would rather tell you that plainly than send you into a form that stops halfway. If you start the conversation online, a banker will reach out and finish it with you.
What is the minimum balance for a personal checking account?
Core Checking and Gold Checking have no minimum balance requirement at all. Advantage Checking and Premium Checking each carry one, and in both cases it exists to avoid the monthly service charge rather than to keep the account open. The comparison table above lists the minimum daily balance for each account, in the row marked with a (1).
Which account is best for a child or teenager?
Super Kids Savings, for savers 17 and under. It has no minimum balance to open, no minimum balance requirement, and no monthly service charge, so it cannot lose money to a fee. It earns interest and a parent or guardian opens it jointly with the child.
Who can open a Health Savings Account?
Anyone enrolled in a high deductible health plan. Our HSA is a checking account, it carries no minimum daily balance requirement, and its monthly service charge is waived with eStatements. The comparison table above lists the opening minimum and the service charge. Contribution limits and qualified expenses are set by the IRS, so confirm those with your tax advisor.
What makes a checking account secure?
Three things working together. Federal deposit insurance protects the money itself if the bank fails. Card controls let you shut off your own debit card the moment something looks wrong, which is what MyCards in our mobile app does. Account monitoring and daily visibility through mobile banking and eStatements mean fraud gets caught in days rather than at the end of a statement cycle. An account that has all three is what most people mean by a secure account.
Is my money insured, and for how much?
Yes. Security Bank & Trust Co. is a Member FDIC institution and deposits are insured up to at least $250,000 per depositor, per insured bank, for each account ownership category.
How much your household is covered for depends on how your accounts are titled, so rather than estimate it for you, we point people to the FDIC's own calculator: the Electronic Deposit Insurance Estimator (EDIE). It is the regulator's tool and it is free. We will also go through it with you.
What is the difference between a savings account and a money market account?
Balance and purpose. Savings has the lowest opening minimum and is built for money you are setting aside and may need. Money Market asks for a higher opening deposit and a higher daily balance, and pays a higher rate in exchange. Private Wealth Money Market is the same idea at a larger scale and carries our most competitive interest rate. The comparison table above lists the opening minimum, the minimum daily balance and the service charge for all three.
Do you have an account for someone 55 or older?
Gold Checking. It is designed for customers 55 years or older, has no minimum balance requirement and no monthly service charge at any balance, and still earns interest. It includes check images in your bank statement and free basic wallet checks, one box per order. The comparison table above lists its opening minimum.
Where do I find current rates?
On our deposit rates page, which carries current rates for our standard personal checking, savings, money market and certificate accounts, along with the disclosures on rates, compounding and crediting. We keep rates in one maintained place rather than repeating them across the site, so what you see there is what is in effect. Rates for the Private Wealth Money Market are not published there and are available when you meet with a banker.
Keep reading
- Current deposit rates for checking, savings, money market and certificates
- Online and mobile banking, including mobile deposit, Bill Pay and MyCards
- Mortgages and home equity when the next step is a house
- Trust and wealth management for estate settlement and investment management
- Fraud prevention and what to do if something looks wrong
- All 21 Minnesota locations
Join the crowd. We're here to help.
Tell one of our bankers how you actually use your money, and they will tell you which of these nine accounts fits. No queue, no script, no comparison chart required.
Growing, together.
Account terms, minimum balances and service charges shown on this page are current as of the date below and are subject to change. See the Current Deposit Rates for disclosures on rates, compounding and crediting, and other information. Credit cards are issued by Elan Financial Services, not by Security Bank & Trust Co. Health Savings Account eligibility, contribution limits and qualified expenses are determined by the IRS; consult your tax advisor. Page last reviewed July 2026.