MikeG62 wrote: ↑
Wed Nov 21, 2018 9:09 am
jhfenton wrote: ↑
Tue Nov 20, 2018 3:45 pm
athan wrote: ↑
Tue Nov 20, 2018 3:35 pm
I emailed BenefitWallet, and they wrote back that a Trustee-Trustee transfer will cost $25. I am not sure if this is accurate, but plan to transfer to Fidelity early next year. Please let us know how your transfer goes. Overall I am happy with BenefitWallet, and $2.90/month is not too terrible, but still more than $0/month.
Fidelity has told a couple of us that they will reimburse $50 transfer fees if they are ultimately charged by TD Ameritrade.
I called and spoke to a rep at Fido and was told they cannot accept a transfer-in-kind. Funds must be in cash. Others appear to have been told differently.
I plan to open a HSA with Fido and transfer the funds from my Lively/TDA account. However, I wonder if eventually they will introduce the $48 annual fee for individual accounts (after drawing lots of new clients into the product). Would be a crappy thing of them to do, but not out of the realm of possibilities I suppose.
The regular reps at Fido have been hit and miss for folks on this thread when it comes to the new HSAs.
You can absolutely transfer in-kind from Lively+TDA, and you can initiate the transfer from fidelity.com without talking to any humans.
1. Open a new Fidelity HSA online.
2a. Either as part of the initial set-up or after logging into your new $0 HSA account, go to Transfer on the main menu.
2b. Selection Transfer From...Another Financial Institution (Transfer Assets)
2c. Click Start a New Transfer
2d. Enter Firm name: Type TD and select TD Ameritrade Inc from the drop-down menu
2e. Enter your TD Ameritrade account number and Select Health Savings Account as the Account Type
2f. Select To: your new Fidelity HSA and Transfer All Account Assets? Yes
2g. Upload a statement from TD Ameritrade
2h. Digitally sign the Fidelity Transfer Form and submit the transfer. Save a copy of the Fidelity transfer form.
3. Email Lively customer service. Send a copy of the Fidelity transfer form and ask them to send a letter of release to TD Ameritrade allowing your TD Ameritrade account to be transferred to Fidelity.
That's the stage I'm at. Everything should be at Fidelity in a few days. I'm still waiting to see if TD Ameritrade charges me a $50 transfer fee. If so, Fidelity said that they will reimburse it. I'll just have to call their transfer folks and ask.
Check checking the Fidelity transfer status every day. If your transfer runs into any problems, the system will pop up an Action Needed box with a phone number to call Fidelity's transfer desk.
I don't expect Fidelity to add any fees to their individual HSAs. It's taken longer than I expected, but it appears that there are enough invested assets in HSAs for firms to start treating them like IRAs. No-fee IRAs have been around since at least the 90's.