runnergirl wrote:Anyone using HSA Bank for their HSA? In January, I deposited $6450 into an HSA with them. I kept $5000 in a minimally paying savings account and transferred $1450 into their investment account with TD Ameritrade. I have been charged a monthly fee of $3 since then. My understanding was that $3000 in the savings account waives the $2.50 per month charge and that $5000 in the savings account waives the $3.00 investment account fee. I put in a call to them and haven't heard back.
I am new to HSA Bank as well, and what you wrote was also my interpretation of the fee schedule. Coincidentally, I was also assessed $3 for the investment account for my first month with them, although my 'average daily balance' at HSA Bank was higher than the $5,000 threshold. I called to inquire and she refunded the fee. I hadn't considered though that the $5,000 minimum might be required to be held at TDA to avoid the investment fee, and $3,000 minimum at HSA Bank to avoid the monthly account maintenance fee. Looking back, I am pretty sure I hadn't transferred funds to TDA at that point. I currently have $5,000 at HSA Bank, and more than $5,000 at TDA, and haven't been assessed any further fees.
Edited to add: I just pulled up my statement, the month that I was assessed the $3 investment fee, I had all of my funds at HSA Bank, with an average daily balance greater than $5k. I hadn't yet transferred anything to TDA.
Please let us know what they will tell you.
If that is $3k in HSA bank and $5k in TDA - I need to transfer 2k more per account to ATD.