Frequently Asked Questions
High Yield Savings Account FAQ's:
There are no service or monthly maintenance fees associated with the High Yield Savings Account.
No, your account is not tied to the stock market and can not lose money.
Yes. The minimum deposit required to open a High Yield Savings Account is $100.
No. However, if your High Yield Savings Account has a $0 balance for 90 consecutive days, it will be automatically closed.
Interest is calculated by using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. Interest begins to accrue on the business day your non-cash item has cleared (for example, ACH). If you close your account before interest is credited, you may not receive the accrued interest. Finworth Savings reserves the right not to pay interest on any deposited item that is returned to us as unpaid.
This is a variable-rate account where interest rates and Annual Percentage Yields (APYs) may change at any time at Finworth Savings's discretion. To see your current APY, click on the Home tab and locate the APY under Available Balance or on your monthly statement.
Data security is Finworth Savings's top priority. We use industry-leading RSA 256-bit encryption technology.
Your funds are held with Finworth Savings.
Yes. Your High Yield Savings Account deposits are insured by the FDIC up to the maximum limits allowed by law. Please visit www.fdic.gov for current deposit insurance limits.
Funds received by ACH transfer initiated from the designated linked account to your account will generally be available five (5) business days after you initiate the ACH transfer.
Transactions may take up to five (5) business days to complete.
A checking or savings account maintained at a U.S. financial institution that is either owned by you individually or jointly with another person as long as you maintain control over such account.
Customers can transfer up to $250,000 per transaction and per day.
No, only one linked account may be used to make deposits to and receive withdrawals from your High Yield Savings Account.
Any change to your linked account must be made by logging into the account portal and sending a secure message to Finworth Savings. Changes to your linked account are subject to Finworth Savings's approval and, depending on the circumstances, may result in your High Yield Savings Account not being accessible for a period of time and/or closure.
Please log into the account portal and send a secure message to customer service and indicate that your linked account has been closed and the reason for closure (for example, closed due to fraud, closed at your election, etc.). Finworth Savings will then restrict your High Yield Savings Account and may require you to complete additional information in order to authenticate and validate the change to your linked account.
Not at this time.
No. However, you can access your account on your computer, smartphone or mobile device at https://hysapp.finworth.com/login
Click Forgot Password? below the login box to receive an email with instructions. You can also reach out to us at support@hysa.finworth.com.
Please email us at support@hysa.finworth.com and we will help you regain access to your account.
You may close your account by withdrawing all available funds and selecting "Close my account." Alternatively you may contact customer service via the secure message center within the account portal or email us at support@hysa.finworth.com.
Yes, you will receive email notifications when your monthly account statement is ready. To access statements, log into the account portal and click on Documents.
Yes, you will receive an IRS Form 1099-INT for your High Yield Savings Account. An email notification will be sent when the form is ready. To access your form, log into the account portal under Documents to easily view and download it.
You can contact customer service via the secure message center or email us at support@hysa.finworth.com
Yes, after your High Yield Savings Account has been opened you may add a beneficiary and may change your beneficiary at any time by clicking on My Account and then Add Beneficiary. If you choose to name a beneficiary you are intending to make your account a payable on death ("POD") account that is payable on your death to the designated beneficiary.
No, all deposits and withdrawals must be made through your externally linked account.
Not at this time.
Not at this time. The High Yield Savings Account is a single ownership account; however, you can designate a beneficiary.
Certificate of Deposit FAQs:
After your application has been submitted and reviewed, we will send you an email to have you complete the funding portion of your application. We will initiate an ACH transfer from an account of your choosing.
As part of our customer verification process, all new accounts are verified through ChexSystems. This has no direct impact on your credit score.
Once your application is submitted, you will automatically have online access to your accounts via the dashboard.
Yes, you can add up to 4 beneficiaries to your account during the account opening process. If you need additional beneficiaries, please contact us by email at
clientservices@finworth.com or by phone at 629-777-1601.
Your application will be reviewed during normal business hours: Monday-Friday 8:30AM-4:00PM CST. After review, we will send you an email to inform you of next steps to fund your application.
