New Accounts

Home-Grown Products that Reap Big Rewards

We wouldn’t be aspiring to be the Valley’s leading financial partner if we were fans of the “set it and forget it” mindset, would we? We’re honored to be part of your financial journey and take our role in providing you with the best banking solutions seriously. We’ve hinted that big upgrades were coming from everything from our new ATM platform to new products and we’re excited to finally announce a new series of accounts available March 16, 2023.

These new accounts are geared to give you a simple and elevated banking experience. Need a free basic checking account? We’ve got you covered! Looking for a little extra? Qualifying for rewards has never been easier! Forget the days of needing to meet multiple requirements to benefit from your account; these accounts only require one qualifier to receive the benefits.

Review our new accounts and frequently asked questions below. Don’t hesitate to send us a message or contact your nearest F&M Bank location.

New Consumer Checking Accounts

Basic Checking

Those needing a standard checking account.

Cash Back

Those needing cash-back rewards with lower balance requirements.

Cash Back Plus

Those who are looking for bigger rewards, carry a higher balance, and love to travel.

Basic Checking

Ideal For	Those needing a standard checking account
Cash Back	No
Interest	No
ATM Waivers	No
Free Additional Accounts	0
Additional Account Benefits	Free Online & Mobile Banking Free Visa Debit Card Free e-statements ($2 mailed statements) First OD waived Free consultation with an F&M Mortgage Advisor Free consultation with an F&M Financial Services Advisor
Balance Requirements	$0.00
Waivers (Only One Required)	No strings for this free account.
Maintenance Fee	$0.00

F&M Cash Back

Former Account	Kasasa Cash Back
Ideal For	Those needing cash-back rewards with lower balance requirements.
Cash Back	Yes Up to $10 cashback per month (Every $200 spent with your F&M Bank debit card, earns $1 back.)
Interest	No
ATM Waivers	Yes Non-F&M Bank ATM fee waivers up to $9.
Free Additional Accounts	2
Additional Account Benefits	Free Online & Mobile Banking Free Visa Debit Card Free e-statements ($2 mailed statements) First OD waived Free consultation with an F&M Mortgage Advisor Free consultation with an F&M Financial Services Advisor
Balance Requirements	$1,500
Waivers (Only One Required)	Set up or maintain direct deposit into your Cash Back Checking Account -or- Maintain a minimum daily balance of $1,500 or more -or- Maintain F&M Savings Account, Money Market Account, or Christmas Club account -or- Maintain a personal loan or Home Equity Line of Credit with F&M Bank
Maintenance Fee	$9.95 if one of the account waivers listed above are not met.

F&M Cash Back Plus

Former Account	Kasasa Cash Rewards
Ideal For	Those who are looking for bigger rewards and carry a higher balance.
Cash Back	Yes Up to $10 cashback per month (Every $200 spent with your F&M Bank debit card, earns $1 back.)
Interest	Yes Interest Earned on your daily balance (1.00% Annual Percentage Yield).
ATM Waivers	Yes Non-F&M Bank ATM fee waivers up to $18.
Free Additional Accounts	4
Additional Account Benefits	Free Online & Mobile Banking Free Visa Debit Card Free e-statements ($2 mailed statements) First OD waived Free consultation with an F&M Mortgage Advisor Free consultation with an F&M Financial Services Advisor
Balance Requirements	$5,000
Waivers (Only One Required)	Set up and maintain direct deposit into your Cash Back Plus Checking Account -or- Maintain a minimum daily balance of $5,000 or more -or- Maintain F&M Savings Account, Money Market Account, or Christmas Club account -or- Maintain a personal loan or Home Equity Line of Credit with F&M Bank
Maintenance Fee	$14.95 if one of the account waivers listed above are not met.

New Accounts	Basic Checking	F&M Cash Back	F&M Cash Back Plus
Former Account		Kasasa Cash Back	Kasasa Cash Rewards
Ideal For	Those needing a standard checking account	Those needing cash-back rewards with lower balance requirements.	Those who are looking for bigger rewards and carry a higher balance.
Cash Back	No	Yes Up to $10 cashback per month (Every $200 spent with your F&M Bank debit card, earns $1 back.)	Yes Up to $10 cashback per month (Every $200 spent with your F&M Bank debit card, earns $1 back.)
Interest	No	No	Yes Interest Earned on your daily balance (1.00% Annual Percentage Yield).
ATM Waivers	No	Yes Non-F&M Bank ATM fee waivers up to $9.	Yes Non-F&M Bank ATM fee waivers up to $18.
Free Additional Accounts	0	2	4
Additional Account Benefits	Free Online & Mobile Banking Free Visa Debit Card Free e-statements ($2 mailed statements for new clients after 3/16/23.) First OD waived Free consultation with an F&M Mortgage Advisor Free consultation with an F&M Financial Services Advisor	Free Online & Mobile Banking Free Visa Debit Card Free e-statements ($2 mailed statements for new clients after 3/16/23.) First OD waived Free consultation with an F&M Mortgage Advisor Free consultation with an F&M Financial Services Advisor	Free Online & Mobile Banking Free Visa Debit Card Free e-statements ($2 mailed statements for new clients after 3/16/23.) First OD waived Free consultation with an F&M Mortgage Advisor Free consultation with an F&M Financial Services Advisor
Balance Requirements	$0.00	$1,500	$5,000
Waivers (Only One Required)	No strings for this free account.	Only one of the below requirements must be met to avoid the monthly fee. Set up or maintain direct deposit into your Cash Back Checking Account -or- Maintain a minimum daily balance of $1,500 or more -or- Maintain F&M Savings Account, Money Market Account, or Christmas Club account -or- Maintain a personal loan or Home Equity Line of Credit with F&M Bank	Only one of the below requirements must be met to avoid the monthly fee. Set up and maintain direct deposit into your Cash Back Plus Checking Account -or- Maintain a minimum daily balance of $5,000 or more -or- Maintain F&M Savings Account, Money Market Account, or Christmas Club account -or- Maintain a personal loan or Home Equity Line of Credit with F&M Bank
Maintenance Fee	$0.00	$9.95 if one of the account waivers listed above are not met.	$14.95 if one of the account waivers listed above are not met.

New Consumer Checking Accounts FAQ

Will my account number change?

No. Your account number will remain the same. We will change the account type you are in on March 16, 2023, which will upgrade your benefits, but your account number will not change.

Will I need a new debit card?

No, your existing debit card will not need to be replaced. If your card is close to expiration, our system will automatically reorder a new card.

What does minimum Daily Balance mean

For Cash Back Plus, if at any point during the statement cycle the daily balance falls below $5,000 the account will incur a monthly fee of $14.95. For Cash Back if at any point during the statement cycle the daily balance falls below $1500 the account will incur a monthly fee of $9.95.

Do any accounts receive the 1st order of checks free?

Yes

Do any accounts waive overdraft fees?

Yes, all three new accounts (Basic, Cash Back & Cash Back +) waives the first OD fee only (this does not reset after a certain amount of time).

Are Christmas Clubs considered a savings account waiver?

Yes, Christmas clubs will also waive monthly fees.

Are any personal checking accounts grandfathered on March 16th, 2023?

Yes, Reg Checking, Reg 50, Interest Checking, Platinum Accounts, Fresh Start accounts. However, starting 3/16/2023 only the three new personal accounts can be opened (Basic Checking, F&M Cash Back, & F&M Cash Back Plus).

What account titles will change on March 16th, 2023?

Only current Kasasa Cash Back and Kasasa Cash will convert to new F&M Cash Back or F&M Cash Back Plus accounts.

What about Kasasa Savers conversion?

On March 16th, 2023, the Kasasa Savers name will change to Cash Back Saver and the interest rate will continue to be 0.25% with no maximum dollar amount ($85,000 limit no more).

Does a customer have a debit card swipe limit?

No debit card swipe limits!

Does an ACH Debit count as a waiver?

No, it does not.

Are e-statements required?

No, they are not; although e-statements are free! However, if a customer opts for paper statements, they will be charged a $2 fee monthly.

Are non-F&M ATM waivers unlimited?

No, they are not. ATM waivers are a dollar amount due to various charges for non-F&M Bank machines. Not every ATM assesses the same fee, therefore a dollar amount makes more sense. Example: Three $3 non-F&M Bank fees, one $12 casino ATM fee would equal $21. For Cash Back Plus, the waiver is up to $18, so the customer would end up paying $3 in ATM fees for the month.

What if a customer with a grandfathered account has fraud?

At that point we would convert them to one of the new account products based on their needs.

How do you earn cash back?

Its simple you will earn $1 in cash back for every $200 spent with your debit card.

Can customers open multiple new account products?

Yes, waivers would count for multiple accounts.

Will Cash Back earned transfer to the customers savings?

No, Any cash back earned will remain in the customers checking account.

Will Overdraft Protection count as a personal loan for an account waiver?

Yes, ODP does count as a personal loan and as an account waiver.

Will statement cycles stay the same?

The basic checking will remain on a mid-month cycle, Cash Back and Cash Back Plus will both go to a month-end statement.