Reviews

cancelled account and after 20 days they sent my check with balance so have to wait another 7-10 days to get the check and phone wait is horrible

This bank makes dealing with a chronic disease EVEN WORSE. I have been using HSA Bank (unfortunately, and not by choice) for several years now. One time, they closed my account without telling me because I had not used it for five months. How does a bank who exclusively deals in **** and **** not consider that employers load the money once per year?! Then, when my employer paid in, that payment was floating around in limbo for another month. Again, I go to use my card at a doctor's office. The card doesn't work. After three >1 hr phone calls, I finally get a call from an American English-speaking employee who said, "Yeah, we thought there was fraud on that card, so we closed it." I experienced the same as others writing the reviews, like the money hoarding and incompetence. What a waste of what life I have left! Sheesh! Has anyone else considered a class lawsuit? After reading these reviews, maybe we should!

Client of HSA Bank for over 15 years. Recently they ceased relationship with ****** which allowed clients to invest their savings and grow their reserves for medical use. However, HSA Bank DID NOT have their own investment system properly setup or functioning. Even something as putting cash in a money market mutual fund was not available as of 1/16/25. What's worse, they automatically withdrew cash from any ****** investments and swept it back into your *** account. WITHOUT YOUR CONSENT. So now I am not able to invest in a liquid money market to earn interest but keep funds available for medical use. Essentially, they control your ******** a moderately educated investor and business owner, I highly recommend you AVOID this comp[any for your HSA Needs, and if you currently use them, I would recommend you find a more trustworthy organization to manage your investment for your health. I honestly can't even imagine this is LEGAL. As a former 15+ year client, DO NOT USE this company.

I was approved and when I asked for support in user name creation, they could not troubleshoot and realize that my DOB was incorrect in their system. I am not going to move forward with them .

The worse experience with HSA flex account, they will "accept" your claim and never pay it back. And after months on the phone for hours they will give you the most ridiculous excuse to keep your money and don't reimburse. Don't put your money with them, it is all a big scam.

No longer allows HSABrokerage via Charles Schwab, requires you to use HSAInvest (their own product…for a fee). Absolutely predatory. When I had HSABank manage my funds, they netted about a 1% return. Since switching and self managing with Charles Schwab, I’ve achieved close to 33% return with a hot market. Here’s the kicker. Because they decided to force everybody off Charles Schwab, in order to reinvest, you have to liquidate all your funds and lose all stock holdings. They should’ve prevented transfers to external HSA Brokerages, provided a grace period to continue trading, and given notice considerably in advance. 0/5 is what they deserve.

Hotel California for your money. Post retirement I'm attempting to consolidate my HSA funds to the provider with the best systems, and no monthly fees. I am 4 weeks into attempting a transfer out of HSA bank and there is no indication that this will happen anytime soon. The off shore call center simply issues scripted platitudes and then makes up an answer. A simple question like "how long will this transfer take?" yields random answers ranging from 10-days to 4-6 weeks. Not clear to me if this is fraud or dysfunction. There is no way to reach decision makers. If you are an HR Professional thinking about using HSA Bank as part of your benefit package, please consider the reputational risk to you personally and your company. I would not want my name on that contract.

HSA Bank has been holding my $68,000 ******* since mid September, 2024. It is now November, I have a pile of medical bills on my desk, and still no access to my money. My attempt to transfer out of HSA Bank began in September when they no longer allowed investing my money through ******. A simple money transfer of funds should not take 2 months. After the initial 4 weeks I followed up to see where my money went. After some time on hold, an operator told me that my transfer had been denied because the monetary amount I listed on the transfer form did not correspond to the amount in my account. Apparently nearly $70,000 had accrued interest, and therefore the amount on my transfer form differed. It would have been nice to have been informed that the transfer had been declined. I only found out after a bit of detective work. I re-submitted the transfer form in October. It has now been nearly a month, and still no money. Each time I call (after being on hold for at least 15 minutes) I have to re-state my story, and am told "...it should be there by the end of next week." I'm on a first name basis with the operators now. This is beyond frustrating and it is costing me money ($70,000 could be accruing interest or being invested elsewhere). Unless you enjoy having your money being held *******, I would stay away from this place. I have been a physician for nearly 30 years and have had far better service and fast-food restaurants.

Was a client of theirs for many years and used ** ********** (now acquired by ******) to invest the surplus funds. THEN, HSA Bank decides to sever their ties with ****** and develop their own in house program. Uhh, NEWS FLASH-you don't just develop a brokerage and they (HSA Bank) were imposing fees! Well, won't have any of that nonsense, so found highly ranked HSA custodians and asked one (******) to transfer my HSA Bank account to ******. HSA Bank refused to do an "in kind" transfer and I therefore had to liquidate all my positions. Then, it took more than SIX WEEKS for them to send MY money to ****** (the new HSA custodian) and charged and EXIT FEE! All they had to do is assign ****** HSA custodianship of my account! No liquidation, no six weeks. Do yourself a favor and avoid this once excellent company and put your $ with ******/******. You'll have impeccable customer service from both. FLEE HSA Bank! I filed a complaint with the Consumer Financial Protection Bureau for not doing a transfer in kind and taking 6 weeks to transfer my money.

HSA bank discontinued their partnership with *************************** brokerage for HSA investments in September 2024. The previously offered zero fee platforms are being replaced with their own investment platform and HSA Bank is charging users annual fees of 0.10% for Choice, 0.25% for Select and 0.35% for Managed. Customers are now forced to invest only through HSA Bank's platform and to pay the additional fees.This simply funnels revenue generated by additional fees to the shareholders and reduces the the options that are provided to the customers. And, there is no way to opt out of this rubbish decision. Loss for consumers.