How can I speed up my application?

If you already have an account with us, we will automatically fill out parts of your application using information you provided when you opened your other account. This could be information from your ATM or debit card, a deposit account (excluding CD accounts), or a loan account.

Not sure which option to choose?

If you'll be the only person who owns this account, select "Individual." If you want to add a co-owner to the account, select "Joint."

How is my personal information used?

Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Your information is securely stored on your account and customer records when your new account is opened.

Where do I find my last statement balance?

Please refer to the "Ending Balance" field of your last statement for this information. If you're an existing online banking customer, you may obtain this information online. After logging in, select the appropriate account and click on the "view account information" link.

How can I find my security code (CVV)?

The security (CVV) code is a security feature of credit and debit card transactions that provides added protection against credit card fraud. The code is located on the back of your debit card. It appears as a separate group of three digits on the right side of the signature strip.

How can I change my personal information?

If your personal information is already on file with Independent Bank, you can make changes through online banking to your address, phone number, or email address. Just log into your account and select the "Customer Service" tab. You can also visit any Independent Bank location. Please note some changes may require you to present documentation at your local branch.

What is backup withholding?

Backup withholding is a type of withholding for federal income taxes on certain types of income. It may be mandatory in certain circumstances. Most taxpayers, however, are exempt from backup withholding. U.S. citizens and resident aliens are exempt from backup withholding if:

  • You properly report your name and Social Security number to the payer using Form W-9 and the information matches IRS records
  • You have not been notified by the IRS that you are subject to mandatory backup withholding
Why do I need to review and accept disclosures?

Disclosures contain important terms and conditions that apply to your new account. Reviewing and accepting disclosures ensures you are informed about how we'll manage your new account.

Why do I need to answer the additional security questions?

Answering the additional security questions allows us to confirm your identity and ensure no one else can open an account in your name. This additional layer of security helps protect you against identity fraud.

Which option do I choose to fund my new account?

Transfer money from a different bank: 
This option enables you to fund your Independent Bank account(s) from another financial institution within the United States. We may contact your other bank to verify that you are the rightful owner of the account. Your funding account:

  • Must have the same ownership as your new Independent Bank account
  • Must be a joint account if your Independent Bank account is a joint account
  • Cannot be a credit card or any type of brokerage or investment account

Send a personal check: 
You may send a check to:
Independent Bank
Attn: Open Account Online
PO Box 404
Belding, MI 48809

Make a direct deposit: 
A direct deposit is a payment that's electronically deposited into an individual's account at a financial institution. You can request that your payroll, social security, unemployment, or tax refund be deposited electronically into your Independent Bank account. Simply provide the third party performing the direct deposit with your new account number and our routing number, 072402652.

Transfer money from an existing deposit account: 
Move funds from one account to another account within Independent Bank.

How do I locate my verification code?

Your verification code was provided to you during the application process and in a confirmation email. The confirmation email was sent to the email address supplied during enrollment. If you would like assistance with your verification code, please contact customer support at 800.355.0641, available Monday through Saturday, 8:00 am to 6:00 pm and Sunday, 10:00 am to 8:00 pm.

What is a US Person?

The IRS tax code has specifically defined the term "United States Person" as meaning any of the following:

  • A citizen or resident of the United States
  • A domestic partnership
  • A domestic corporation
  • Any estate other than a foreign estate
  • Any trust if:
    • A court within the United States is able to exercise supervision over the administration of the trust, and
    • One or more United States persons have the authority to control all substantial decisions of the trust
  • Any other person that is not a foreign person


Health Savings Account Questions

What is a Health Savings Account?
A Health Savings Account (HSA) is a tax-exempt trust or custodial account you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur. You must be an eligible individual to qualify for an HSA.
What are the benefits of an HSA?
  • You can claim a tax deduction for contributions you, or someone other than your employer, make to your HSA even if you don’t itemize your deductions on Schedule A (Form 1040).
  • Contributions to your HSA made by your employer (including contributions made through a cafeteria plan) may be excluded from your gross income.
  • The contributions remain in your account until you use them.
  • The interest or other earnings on the assets in the account are tax free.
  • Distributions may be tax free if you pay qualified medical expenses.
  • An HSA is “portable.” It stays with you if you change employers or leave the
How do I qualify for an HSA?
  • To be an eligible individual and qualify for an HSA, you must meet the following requirements.
    • You are covered under a high deductible health plan (HDHP), on the first day of the month.
    • You have no other health coverage except what is permitted under ‘Other Health Coverage’ in IRS Publication 969.
    • You are not enrolled in Medicare.
    • You cannot be claimed as a dependent on someone else's tax return.
What is a High Deductible Health Plan (HDHP)?
A High Deductible Health Plan (HDHP) may provide preventive care benefits without a deductible or with a deductible less than the minimum annual deductible. Minimum and maximum annual deductible amounts can be found in IRS Publication 969 under ‘High Deductible Health Plan (HDHP)’.
What is an Individual Plan?
Self-only HDHP coverage is an HDHP covering only an eligible individual.
What is a Family Plan?
Family HDHP coverage is an HDHP covering an eligible individual and at least one other individual (whether or not that individual is an eligible individual).
How many beneficiaries should I designate?
You should choose a beneficiary when you set up your HSA. What happens to that HSA when you die depends on whom you designate as the beneficiary. Your HSA agent (the person you may authorize to transact business on your behalf) DOES NOT inherit the account, only the named beneficiaries will receive their percentage of distribution
What is the percentage of distribution?
If beneficiaries are named you must designate a percentage of distribution to all HSA beneficiaries. The percentage of distribution for all beneficiaries must total 100%.
What is the difference between a primary and a contingent beneficiary?

A primary beneficiary receives account assets in the event of your death. A contingent beneficiary receives account assets only when all primary beneficiaries predecease you.

What is an Authorized Agent?

An Authorized Agent, if you choose to name one, is the one individual other than yourself authorized to perform transactions on your HSA.

Under what circumstances will my contingent beneficiaries receive my HSA assets?

A contingent beneficiary receives account assets in the event of your death only when all primary beneficiaries predecease you.

What is a rollover?
Generally, a rollover is a tax-free distribution to you from one Health Savings Account that you contribute to another Health Savings Account. The contribution to the second account is called a “rollover contribution.” A rollover contribution isn’t included in your income, isn’t deductible, and doesn’t reduce your contribution limit. You must roll over the amount within 60 calendar days after the date of receipt. You can make only one rollover contribution to an HSA during a 1-year period.
What is a trustee transfer?
A transfer of funds in your HSA from one trustee directly to another, either at your request or at the trustee's request, is not a rollover. This includes the situation where the current trustee issues a check to the new trustee but gives it to you to deposit. Because there is no distribution to you, the transfer is tax free. Because it is not a rollover, it is not affected by the 1-year waiting period required between rollovers. There is no limit on the number of these transfers. Don’t include the amount transferred in income, deduct it as a contribution, nor include it as a distribution on Form 8889.
Which contribution tax year should I choose?

Current Year is a deposit made in the year for that tax year. Previous Year is a deposit made between January 1st and the tax deadline o the current year however funds are allocated to the previous tax year.

Where can I find additional information regarding Health Savings Accounts?
You can visit IRS Publication 969.
Where can I find additional information regarding Qualified Medical Expenses?
You can visit IRS Publication 502.