The Most Helpful HSA Bank Reviews
The most helpful favorable review
Recent website redesign a total fail
I have been with HSA Bank for several years, and up until recently, have been satisfied with their platform. They allow transfers to TD Ameritrade, where I can purchase many Vanguard ETFs commission-free, and it was pretty straightforward to set up these transfers. When I logged in to transfer my 2015 contribution, I found the revamped website much more difficult to navigate than the previous version. I did finally figure out how to set up the transfer, but it took much longer than it should have.
Regarding their fees, as long as you keep a minimum of $5000 with them, you will not incur a monthly 'maintenance' fee. If you want to invest that amount, be prepared to cough up $27 over the course of the year for that privilege. Not unreasonable, in my opinion.
I had a question about a possible over-contribution for 2014, and I sent an email in early December. I received a response almost a month later, with an apology for the delay. I suspect that they are dealing with a larger than usual number of inquiries about the website redesign, and are totally in the weeds.
Since I only have to deal with them twice a year (once to make my contribution, and then once more to move those funds to TD Ameritrade) I will stay with them for the time being. If you anticipate interacting with their customer service department on a more frequent basis for problems with your debit card or payment issues, be forewarned you may be in for some frustrating experiences.
The most helpful critical review
Customer Service Extremely Inadequate
Impossible to get them on the phone. Tried twice and hung up after 15 minute wait both times. Every time you call you get a message saying we are experiencing longer than normal wait times. This is BS!! They do not have enough staff. Sorry I opened an account with them.
Latest HSA Bank Reviews
JReviewed By jetagain May 3, 2016
Decent service, but they make you change your password almost every MONTH!
What they offer is fine, but the website is poorly designed and worst part... IT MAKES YOU CHANGE YOUR PASSWORD EVERY 40 DAYS! Some banks used to make you change your password once a year or so, but they stopped that because studies show forced password changes are actually worse for security. But I've never heard of one that makes you change it every 40 days! That makes it pretty much unusable with Quicken since your automatic downloads only work for a month and a half before you have to go through a password reset process with the website anyway and then go and also update Quicken again.Is this review helpful?
MReviewed By miked Apr 13, 2016
Cant I give it Zero Stars?
My wife and I have been trying to transition from an employer sponsored HSA account to a personal HSA account. It have been 3 months and countless phone calls. Each rep is very nice but clueless about how a HSA account works. Each has another story about how to do this. So now we have 3 accounts and 3 debit cards, none of which we can use!Is this review helpful?
BReviewed By bigr1 Apr 5, 2016
Customer service? No service!
Telephone call resulted in a 22 minute wait. Decided to close the account and after waiting for the rep to do something, he then advised me that I would get a closing kit in two days via email. I should complete the kit, mail it back to them and they would close my account in approx. 6 weeks. When I told him that was crazy it would take 6 weeks, he put me on hold and then came back with a revised turn around of 48 hours! I then questioned why it would take two days to email me the kit. He said if he could do it, he would send it right then but it is automatically generated and that takes two days. Wow!! Their computer is so slow, it takes it two days to generate a generic email. I would rate it NO STARS but at least one is required. STAY AWAY FROM THIS BANK.Is this review helpful?
CReviewed By caigy Mar 26, 2016
Poor service after transfer to HSA from Chase
Our HSA account was transferred to HSA bank from Chase this month, when Chase got out of the business.
None of the previously-uploaded expenses were transferred from the Chase website in any detail. Those that we had uploaded and had been reimbursed for were listed on the HSA website as "Recipient- Undefined" (should have said whether the expense was for Self, Spouse or Dependent) and the Merchant/Provider space was left blank, so we don't know what doctor or diagnostics lab or other vendor the charge was for. All of this detail had been on the Chase HSA website.
We also had charges uploaded to Chase HSA that we hadn't reimbursed ourselves for yet. NONE of those charges were transferred to the HSA Bank website at all, meaning we have to upload them all over again to the HSA Bank website.
The "Add Expense" upload function on the HSA Bank website is rudimentary at best. It does not ask which family member the medical charge was for, nor does it ask for a category such as outpatient visit, doctor visit, pharmacy, medical test, etc. that the Chase website asked for. This means that if the IRS ever asks us (admittedly unlikely) to explain or justify an expense, the information on the website will not be sufficient to answer the question. We'd have to go back to our paperwork (original receipts and doctor office statements) to find the information.
To top it all off, I called HSA Bank to ask why this was so poorly implemented, and (after a VERY LONG wait to speak to a live person) their excuse was that it was Chase's fault.
No explanation why patient or vendor information wouldn't transfer, or why reimbursed transactions would transfer but unreimbursed transactions wouldn't. Just "It's Chase's fault". I think the more likely explanation is that HSA Bank doesn't have the same "fields" set up in its database to accept the Chase information, other than amounts previously paid. This is very poor implementation of a simple data transfer process.
And to top it all off: HSA Bank hung up on me while I was asking further questions about why the transfer was handled so badly! The person on the phone clearly had encountered these questions before, was reading from a script of answers to give disgruntled customers, and when she ran out of things to say from the script, she disconnected me!
HSA Bank is a division of NYSE-listed Webster Bank. I'll be contacting Webster management next week for more answers regarding this poor service, and will consider short-selling the stock if the answers are inadequate.Is this review helpful?
DReviewed By dawnee0825 Mar 15, 2016
HSA Bank is a nighmare to deal with
I was forced to switch to this bank because our other bank sold off the accounts. It has been nothing but trouble from day one. I keep getting debit cards in the mail and this last time I tried to use it at my Target (now CVS pharmacy) I was rejected. Try calling to talk to someone who knows what's going on is a joke. Somehow I have 3 accounts, what? Anyway 4 days w/out my medication now and no way to get at my money w/out paying a fee. Thanks so much HSA Bank. Sick people can't go w/out their medication. I'm so happy you were able to offer me a solution (they didn't). I'm seriously considering doing w/out the tax benefit of an HSA account. I didn't have a choice about becoming a member of this bank. If you have a choice RUN! I only gave them a star because I had to.Is this review helpful?
RReviewed By RVStuart Mar 11, 2016
I've had an HSA account open while working with an employer whom I had resigned from recently. Funds were sitting in the account and monthly I was charged $2.50, which naturally affected my balance. I called to cancel the account and was told that I would be charged not only taxes and penalty from the IRS (totally aware), but in addition, a $25.00 admin fee from the bank! What for? What does that even mean? I'm an administrative assistant and never made $25.00 an hour! How is this right? How is this fair? Am I suppose to leave my hard earned cash in HSA's bank and let them draw $2.50 until the account is depleted? To add insult to injury, I have to wait six to eight weeks for HSA to send me a check AND I'm being told that HSA CANNOT "transfer" funds directly to my checking account! How come other banks in America allow electronic transfers? Again! How is this fair and how does BBB justify HSA's rating of A+? A pissed off consumer!Is this review helpful?
GReviewed By Grayetigre Feb 8, 2016
My HSA medical account was held by Chase and then transferred to HSA bank. I didn't think much of it. However, when I tried to use my debit card at my doctors office, it would not process. I called the number at the back of the card and they said I needed to pay the bill myself and then go to the bank and get a cash advance in the future for my already paid expenses...In other word: pay myself back! A lot of nonsense and waste of time. Well, I did this once and the transaction processed. I did it again for a second expense payback- and my request was denied. Not once but thrice! So, back on the phone with HSA bank and they told me that I withdrew all the money from my account and my balance is now 0. WHAT?? I had a substantial balance that just disappeared?
Now, they want me to fill out claim forms, which they still haven't sent. In addition, they are claiming that my "regular bank" processed the cash advance four days after I was actually in the bank to try to get the cash advance. Now doesn't that sound extremely shady?? I don't trust these people/ institution and I wouldn't recommend that people continue using them. I think they have a known internal problem and we are the scape goats!!Is this review helpful?
BReviewed By biggyziggy Jun 10, 2015
Electronic Access is Ridiculously Bad
In the past 2 years, Quicken access has been extremely difficult. Generally, I have to deactivate the account, reactivate, connect, delete all of the duplicate transactions downloaded because I have to start over, and finally reconcile. This month, it won't work at all. Talking to customer service, they have done (yet another) redesign and quicken is not working but they are trying to fix it. I AM DONE WITH QUICKEN ACCESS.
I don't use their website directly often, but everytime I do it seems I have to change the password and I can never get all of their rules correct so I get pissed off just trying to get logged in. Needless to say, the password is usually a derogatory term toward them.
I got logged in today, changed the password as seems to always be required, then tried to print this months statement. Nope, there is a bug. It will print only the first page of the statement. I was only able to get around this by downloading the statement and printing it (and you've got to be fast as the save control is shown only for a couple of seconds when the statement first opens).
HSA Banks' entire IT staff should be fired. They have proven to be inept for several years now. I called them and told them they must now provide me with printed statements - I refuse to use their website again.
Outside of IT's ineptitude, I have no particular complaints with the actual banking. I don't have many transactions a year, and they haven't screwed that part up.Is this review helpful?
VReviewed By vaham Mar 10, 2015
The new website is probably the worst I have encountered. It is bad on so many levels.Is this review helpful?
TReviewed By tat005 Mar 4, 2015
Fees are misleading
The fees they charge does not match their fee disclosures. You will potentially get charged 2 fees if you want to have an investment account. The disclosures are written in a way that it refers both fees to the bank account. Inaccurate and misleading.Is this review helpful?