REQUIREMENTS TO Open BANK ACCOUNT AT SOMERSET Trust

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  1. What do I need to open a bank account at Somerset Trust?
    1. Statement Savings Account
    2. Advantage Interest Savings Account
    3. Overdraft Protection Savings Account

What do I need to open a bank account at Somerset Trust?

If you are considering opening a bank account at Somerset Trust Company, you will need to gather a few documents and meet certain requirements. Somerset Trust offers a variety of savings accounts to help you reach your financial goals. Let's explore the requirements for opening a Statement Savings Account, Advantage Interest Savings Account, and Overdraft Protection Savings Account.

Statement Savings Account

A Statement Savings Account at Somerset Trust Company is a simple and convenient way to start saving money. Here are the requirements for opening this account:

What do I need to open bank account Somerset Trust?
  • No minimum deposit required to open the account at a branch.
  • A $25 minimum deposit is required to open the account online.
  • You will receive a user-friendly monthly statement to help you track your account activity.
  • You have the option to go paperless with eStatements.
  • You will receive a Somerset Trust Company Debit Card for convenient access to your funds.
  • Surcharge-free use of STC's extensive network of ATMs, including partner networks, with your debit card.
  • Online and mobile banking with person-to-person payments, bill payment options, alerts, and more.
  • There is a monthly minimum balance fee of $1 if your daily balance falls below $5 in a statement period.
  • Other fees may apply, and a complete listing of fees can be found in the Account Fee Schedule.

Advantage Interest Savings Account

The Advantage Interest Savings Account at Somerset Trust Company offers competitive interest rates and easy access to your funds. Here are the requirements for opening this account:

  • A $250 deposit is required to open the account.
  • You will receive a Somerset Trust Company Debit Card for convenient access to your funds.
  • Surcharge-free use of STC's extensive network of ATMs, including partner networks, with your debit card.
  • Online and mobile banking with person-to-person payments, bill payment options, alerts, and more.
  • You will receive a user-friendly monthly statement to help you track your account activity.
  • You have the option to go paperless with eStatements.
  • There is a monthly minimum balance fee of $1 if your daily balance falls below $50 in a statement period.
  • Other fees may apply, and a complete listing of fees can be found in the Account Fee Schedule.

Overdraft Protection Savings Account

The Overdraft Protection Savings Account at Somerset Trust Company provides peace of mind by linking it to your checking account. Here are the requirements for opening this account:

  • No minimum deposit required to open the account at a branch.
  • A $25 minimum deposit is required to open the account online.
  • You can make unlimited transfers from your savings account to your checking account to cover any overdrafts.
  • You will receive a Somerset Trust Company Debit Card for convenient access to your funds.
  • Surcharge-free use of STC's extensive network of ATMs, including partner networks, with your debit card.
  • Online and mobile banking with person-to-person payments, bill payment options, alerts, and more.
  • You will receive a combined monthly statement that outlines both checking and savings activity, including transfers, for simple reconciliation.
  • You have the option to go paperless with eStatements.
  • There is a monthly minimum balance fee of $1 if your daily balance falls below $1000 in a statement period.
  • Other fees may apply, and a complete listing of fees can be found in the Account Fee Schedule.

Opening a bank account at Somerset Trust Company is a straightforward process that requires meeting the minimum deposit requirements and providing the necessary documentation. Whether you choose a Statement Savings Account, Advantage Interest Savings Account, or Overdraft Protection Savings Account, Somerset Trust offers user-friendly features and convenient access to your funds. Take advantage of their online and mobile banking services to manage your account efficiently. Start your savings journey with Somerset Trust today!

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