624 W Bedford-Euless Rd.
Building A
Hurst, TX 76053
866.268.8844
817.268.3143 metro
817.282.4315 fax
2716 N Beltline Rd
Irving, TX 75063
888.314.9328
972.252.9328 metro
972.659.0672 fax
FAQ Pages
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- Savings/Banking
- Financial
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Disclaimer:
This website is not meant to be tax or legal advice and that everyone should seek tax or legal advise from their tax or legal advisors.
Savings & Banking FAQ
How does a Texas Insurance Agency have the ability to offer savings programs and other services including banking to its clients?
Our agency has a working relationship with an international insurance carrier that owns a bank that primarily offers its services through internet channels. They offer a complete range of banking services. This bank offers FDIC insurance for up to $100,000 per depositor.
Do you offer checking accounts?
Yes, checking & savings are offered.
How about CD's (Certificates of deposit)?
Yes and usually at top rates that beat most banks in your community. Call us for the rate and check for yourself.
What is a Certificate of Deposit (CD)?
If you don't need immediate access to your funds, you might try a Certificate of Deposit (CD). CDs are an investment venue that allows you to deposit money into, and it earns a guaranteed interest rate that is compounded daily. The money is not available immediately, so if you need constant access to your funds, a CD is probably not right for you. There is a one time deposit allowed at the beginning of the term to open the CD and no more deposits are allowed. CDs are available in maturity terms of one month to five years. Interest is compounded daily and credited monthly. Different terms are available for the length of the CD. 30 days, 90 days, 6 months, 1 year, 2 year, 3 year, 5 year. There is a minimum $1000 deposit to open; no additional deposits are permitted during the term of the account. Partial withdrawals are not permitted. A penalty may be charged for early withdrawal. A quarterly statement by mail is standard; additional statement copies are available upon request. CD's are FDIC insured up to $100,000 per depositor.
What is an Insured Money Market Account?
If you do need constant access to you funds and you want to build up a sum of money quickly, you might try an Insured Money Market deposit account. These can be opened with as little as $500, and there are no monthly maintenance fees if a minimum balance is kept. The interest rate is determined by the bank; compounded daily based on actual number of days in the calendar year. Monthly statement by mail is standard; additional statement copies are available upon request. Money markets are FDIC insured up to $100,000 per depositor. Most money markets have ATM access and can have checks written against it. There are usually limits on how many checks can be written monthly; ATM access is usually unlimited.