F&M – Locally Sourced Banking Since 1908

Home-Grown Products that Reap Big Rewards

Just like the food you put on your family’s table; at F&M Bank, we commit to serving our clients:

Products without unnecessary additives
Stewardship of Virginia’s community and economy
The security of locally sourced people and decision making

We’re celebrating 115 years of locally sourced banking by offering a new line of products and giving you cash for being a part of the F&M community.

For a limited time only, new account holders will receive $115!

To qualify, simply use the promo code “115D” to open one of the below accounts online or at your nearest F&M Bank location before our birthday on August 24, 2023 and also meet the below requirements:

Remain open for at least 115 days
Have established a direct deposit
Have had 15 card transactions

Open Today

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

Ideal For	Those needing cash-back rewards with lower balance requirements.
Cash Back	Yes Up to $10 cashback per month (Every $200 spent, 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

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, 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.

Account Name	Basic Checking	F&M Cash Back	F&M Cash Back Plus
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, earns $1 back)	Yes Up to $10 cashback per month (Every $200 spent, 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.
	Open Today	Open Today	Open Today

Consumer Checking Accounts FAQ

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.

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.

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.