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HSA Bank Customer Reviews

(34 Reviews)
1 out of 5 stars
5 Star 0
4 Star 0
3 Star 0
2 Star 3
1 Star 31

The Most Helpful HSA Bank Reviews

The most helpful favorable review
Reviewed By veggivet Jan 17, 2015

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.

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The most helpful critical review
Reviewed By LucyManning May 10, 2016

Bank is incompetent

I started the process in January this year to close my account which just had a balance of about $65. I sent them an email asking how to do so and was advised to complete the fax form and send it in.

I did that, 3 times! I attempted to contact them and got a complete run around and in the meantime they posted "service fees" for the account I was closing...outrageous.

I finally sent a letter via Fed Ex advising if they do not close the account and send me the balance I would refer the matter to the State's Attorney General. Lo and behold, I received a check within a week....but less $30 for those fees on a closed account.

I don't know whether they are crooks or incompetent -- either way, stay away, you'll be sorry.!

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Latest HSA Bank Reviews

    Reviewed By sumoanand Mar 7, 2017

    Worst HSA bank

    So my company switched the HSA account from BOA to HSABank & I got a letter from HSAbank to submit Id proof. There was no deadline mentioned in that letter, nor it mentioned that your account will be closed if Id proof is not provided. Letter just states that "Please provide the requested documentation to avoid a delay in accessing your HSA account."

    How can we judge from this letter that my account will be closed without any notice in 60 days ?
    Not happy with the professional level of this bank.

    Request others to please avoid it in future.

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    Reviewed By bank831track Mar 6, 2017

    Nothing good to say about HSA Bank

    Their website is horrible. Half the time it throws errors with no reason when you log in (login succeeds but nothing shows). The main link on the web site asks for a user name before it tells you that this isn't where you log in.

    More importantly to all the former Chase customers is what they did to screw Chase customers on their account transfers. They have a policy if you open an account with HSABank that a $5000 minimum balance waives the monthly service charge. If you were brought over from Chase then that doesn't apply to you. It doesn't matter how much money you have they will charge you and the only way to get the minimum balance waiver feature was to close the account and open a new one with them. To me this is just a poor business/new customer decision. Since I had to close my account and reopen per their suggestion I went ahead and did close the account and I'm opening it elsewhere. I'll keep my money with a company that doesn't treat new customers the way HSABank chose to.

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    Reviewed By mikeyjoon Mar 6, 2017

    The worst customer service in the industry

    I have been trying to move the funds from one HSA account to another HSA account with the same bank, close the old HSA account, and leave the new one open for doing business with them. It has been over a month and more than three times to call; only to find out that there is no record of them initiating my request.

    When you politely complain and tell them that you are frustrated, they simply respond with a standard "I am sorry....." message. They don't care about the customer, the customer's time, frustration, and/or business. The problem is that all these HSA bank types (hsabank, Optum, Chase) are a monopoly now. The employer won't give you a choice to choose who you want to bank with.

    But again, hsabank does not give a damn about the customers' frustration!!!!!

    HsaBank is THE WORST IN THE INDUSTRY -- if I could drop them; I would not think twice!

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    Reviewed By ccchesser Mar 1, 2017

    Completely unresponsive / incompetent

    I wasn't referred to HSA Bank through my insurance company's website which claimed I would get discounted rates since they are "partners". Ive been trying for DAYS to find out what those rates are and they cannot or will not answer - giving me a complete runaround for what should Be the EASIST of questions to answer

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    Reviewed By RDW Feb 15, 2017

    A Terrible Banking Experience

    I wonder who regulates this place. They are a disaster. Their links often don't work - the latest was for a tax document. I clicked the link and ..... nothing. It's not just a bad experience for us - look at the reviews on Glassdoor. Obviously, there are big problems at this place.

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    Reviewed By AWinSF Jan 5, 2017

    Horrible, Antiquated

    They don't offer the ability to look at check images online, it took FOREVER to get a debit card, and even WORSE -- their checks weren't accepted at Walgreens!!!! Their checks were rejected by Walgreens check scanners.

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    Reviewed By fedupintexas Nov 15, 2016

    Fees, fees, FEES

    I'm a healthcare industry professional who used HSAbank for my Health Savings Account for more than two years.

    In those two years, I incurred monthly fees on the account and managed to lose money each year since savings accounts barely make any interest.

    This year during open enrollment for health benefits at my company, I decided to switch to a buy up PPO plan that had a higher monthly cost than my HSA plan. When I called the bank to close my account, they charged me a $25 closure fee. These HSA bank accounts are one of the biggest legal scams I've seen in the healthcare industry.

    There are so few banks that offer these types of accounts, that you are almost forced into banking with HSAbank. They seem to have a fee for everything--even ATM withdrawals to reimburse yourself for qualified healthcare expenses cost $4 per transaction.

    My advice to people trying to save money by having a high deductible heal plan with an HSA--don't do it. You won't save money versus a traditional health plan. You will just had more money to HSAbank, an institution that practically has a monopoly over this account type.

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    Reviewed By jrogers1979 Oct 6, 2016

    Slow and inefficient service. Stay away!

    Every time I needed service from HSA Bank, the hold times were unacceptably long and they never followed through on their promises. The most interaction I had with them was when I closed my account. It took an astonishingly long 8 weeks for them to mail a $3,000 check to my new HSA provider (Fidelity, which provides great service!). I called 5 or 6 times to check on the status of my check and each time they said "it should be in the mail by the end of the week."

    Finally, after 8 weeks of waiting, the check went out the door, but not before deducting a $25 fee for closing the account. When I asked them about the $25 fee, they said "the fine print says we have 6-8 weeks to close an account so we're not going to refund your $25." Fair enough. The fine print rules. But this customer doesn't understand why it should take 8 weeks to issue a check in the year 2016. My goodness.

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    Reviewed By ejones Oct 4, 2016

    they don't know how math works

    If you use your debit card to pay for something, they sometimes hold back twice the amount charged leading to unexpected overdrafts. Example: if you have $300 in the account and charge $150 on your debit, then write a check for $50 there should be $100 left in the account, right? No, according to them, after you used your debit card you had $0 in the account meaning the check bounced and now you have to pay them $30 insufficient fund fee and $20 returned check fee to you doctor. you never know when they'll do this or how long it will take for a payment to clear. I don't have a lot of extra money to pad this account with to compensate for their special math.

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    Reviewed By deadman Sep 5, 2016


    My HSA account use to be with Chase and their card was accepted every where !! Now HSA Bank has my account and I have been going thru a HELLISH nightmare !!!! I have not been able to find a SINGLE merchant in my area that will accept their card. The SAME merchants I used with the Chase card. I have no job, I cant just keep paying for it out of pocket and then file for reimbursement - I HAVE NO JOB, NO INCOME, I NEED THIS CARD TO WORK !!. But all HSA Bank tells me is that ALL the merchants that I use to use with the Chase card, have now ALL gone over to some third party company to handle medical transactions and it is THESE third party companies denying my purchases. I never had a problem before with the merchants when I had the Chase card but now these same merchants are ALL now denying my purchases since I got the HSA Bank card. WHY !!!?? would our Federal Government let such a company handle such a medically important account . . . . ???? - STAY AWAY FROM THIS BANK IF YOU CAN !!! They apparently dont care and do nothing as to finding out why THEIR cards dont work with the same merchants that the Chase cards did. Im talking about HIGHLY KNOWN merchants too; Walmart, Target, CVS, Walgreens, ALL of these merchants accepted the Chase card but NONE of them accept the HSA Bank card. HSA Bank might as well put a gun to my head and pull the trigger, that will solve my agonizing problem.

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