Checking
Savings
Debit Cards
Credit Cards
Certificates of Deposit (CDs)
Individual Retirement Accounts (IRAs)

Bank and shop anywhere with the MasterMoney Check Card. This check card makes banking more convenient… anytime anywhere. Bank of Walterboro’s check card is all you need to simplify your finances, every day. Wherever you go, the Bank of Walterboro MasterMoney Check Card provides worldwide purchasing power and instant access to your Bank of Walterboro checking and savings accounts. Whenever you make a purchase, the amount will be automatically deducted from your checking account. You’ll get a receipt, and your monthly checking account statement will clearly list all transactions. You can use your check card practically everywhere, including ATM locations worldwide.

Bank of Walterboro’s MasterMoney Check Card offers these feature:

• No annual fees
  
• No transaction fees
  
• Withdraw up to $300 per day at ATM’s and make purchases up to $1200 per day
  
• Make purchases day or night around the clock, seven days a week at over 20 million MasterCard merchants

• To check credit card account activity and current balance, click the following link: www.24-7cardaccess.com
  

If you want a credit card with No Annual Fee…….look no further. Bank of Walterboro offers several card choices, so we know we have the right one for you.

MasterCard MasterCard Gold Visa Gold Visa Classic

Features:

• No annual fee
  
• 25 day grace period for repayment of balances for purchases
  
• If for some reason you do not meet Gold Card qualifications, your request will processed for a Classic or Standard Card.

To apply: Stop by one of our branches and pick up an application.

When it comes to saving money for the future, you are looking for a safe place and competitive interest. At Bank of Walterboro, we offer a full range of Certificates of Deposits to meet your needs. With a minimum opening deposit of $500 you may select a term from 12 months to 48 months. With a $1,000 minimum opening deposit you may choose a term between 7 days - 48 months.

All Bank of Walterboro CD's are FDIC insured to extent allowed by law.

Features:

• Interest may be deposited into a separate Bank of Walterboro account
  
• Maturity notices are mailed 10 days prior to maturity
  
• CD's automatically renew after a 10 day grace period

Penalties:

Early withdrawal will result in forfeiture of 3 months interest whether earned or not on certificates with maturities exceeding 12 months. A forfeiture of one month's interest is charged on CD's with maturities of less than 12 months.

Individual Retirement Accounts are available for individuals to set aside funds for retirement and take advantage of tax deferred or tax free interest income. You will want to consult with your tax advisor for details, but in the meantime, Bank of Walterboro can get you headed in the right direction.

Features:

• $500 minimum deposit on our fixed rate 18 or 36 month term IRA
• $25 initial minimum deposit on our 18 or 36 month variable rate IRA and you can make additional deposits
• Automatically renewable after 10 day grace period
• No administration fees

Penalties:

Early withdrawal will result in forfeiture of three month’s interest. No forfeiture of interest for IRA holders 59 1/2 and older..

With the current law, contributions to a traditional IRA have been increased to $5000 for tax year 2008-2009. An additional $1000 contribution can be made by qualified individuals over the age of 50. In addition, you will receive a full tax deduction for your contribution if you and your spouse are not covered by an employer sponsored retirement plan. If you or your spouse are participants in an employer sponsored retirement plan, your income and filing status will determine the amount of your deductible contribution.

The following table shows the effect of the modified adjusted gross income (MAGI) thresholds for active participants on deductibility. These thresholds are subject to cost-of-living adjustments (COLAs).

Important note:

The 10% penalty for early withdrawals does not apply to distributions of up to $10,000 for first time home buyer expenses or to distributions used for qualified educational expenses.

ROTH IRA

With the new Roth IRA, your withdrawals can be completely tax-free - but you cannot deduct your annual contributions.
It is always best to consult your tax advisor for details relevant to your specific needs. However, here are a few basic rules that govern Roth IRA's:
You can contribute to a Roth IRA if

1. You have earned income (or your spouse has earned income) AND
   
2. Your modified adjusted gross income (MAGI) cannot exceed certain limits (see below)

• An aggregate of $5,000 annually can be contributed to a combination of Roth & Traditional IRA's.
  
• You do not pay taxes on your earnings if they are part of a qualified distribution
  
• A qualified distribution includes participation in a Roth IRA for over 5 years and:
  • Distributions made on or after the date on which you attain age 591/2; or
    
  • Distributions made to your beneficiary (or your estate) upon your death
    
  • Distributions attributable to your being disabled
    
  • Distributions for qualified first-time home buyers (up to $10,000)