HSA transfer: Health Equity to Fidelity

[roth evangelist]

I didn't expect to be back here so soon with another report, but this was my fastest one yet:

4/19: Initiated partial transfer
4/27: Transfer to Fidelity initiated
5/3: Money received at Fidelity

Two weeks! Right after my slowest transfer of about a month and 10 days.

[sorethumb]

Health Equity transferred an incorrect amount on my last request. Opened a case through their support line, waiting for an email resolution. I requested a four-digit transfer, they processed a three-digit transfer.

[willthrill81]

I didn't expect to be back here so soon with another report, but this was my fastest one yet:

4/19: Initiated partial transfer
4/27: Transfer to Fidelity initiated
5/3: Money received at Fidelity

Two weeks! Right after my slowest transfer of about a month and 10 days.

That's good to hear. It seems that they were really short staffed at the beginning of the year, which was the cause of the long delays in transfers.

[exarkun]

Initiated online with Health Equity on 16 April, funds showed up at Fidelity on 2 May

[hmrambling]

So far, my average is 42 days from request to when it's deposited into Fidelity.

My requests are initiated on the HealthEquity side.

[JustThisGuy]

I submitted a transfer request to Fidelity to pull funds from HE on 3/31. As of about a week ago, it appears the form wasn't received or lost by HE. At HE's suggestion, I submitted the request through HE's website. Within about two hours, my account was frozen as a normal part of the transfer process.The 5-day hold should lift likely today and the funds should hopefully be in my Fido account next week.

If this works, I'll continue to do this going forward as it's just too much hassle and follow-up the other way.

[JustThisGuy]

If this works, I'll continue to do this going forward as it's just too much hassle and follow-up the other way.

The funds hit my Fido account this morning, so it looks like this is the way to go. Summary:

5/6: Initiated transfer on HE's website to push dollars to Fido. Freeze hit that day.
5/12: 5-day freeze lifted.
5/23: Funds hit my account

Total time, 17 days. It's still longer than it should be, but it's far less than initiating on Fido.

[roth evangelist]

Here's another one:

6/17: Initiated partial transfer
6/24: Transfer to Fidelity initiated
7/5: Money received at Fidelity

Just over two weeks.

[JustThisGuy]

And another:

6/22: Initiated partial transfer from HE. Freeze hit the same day.
6/29: Funds sent to Fidelity
7/6: Funds hit my Fidelity HSA

14 days start to finish, including a 5-day freeze and a federal holiday. Not bad, HE.

[Silly Wabbit]

Will HE send over investments as cash or I do need to manually move investments to cash before a transfer?

[dcabler]

And another:

6/22: Initiated partial transfer from HE. Freeze hit the same day.
6/29: Funds sent to Fidelity
7/6: Funds hit my Fidelity HSA

14 days start to finish, including a 5-day freeze and a federal holiday. Not bad, HE.

I started doing this in early 2021 and tracked it. At the beginning I did one where I initiated it from the Fidelity side and the second one, I initiated from the HealthEquity side. With those 2 meager data points I decided to do initiate all transfers from the HealthEquity side.

11 transfers in total.

Minimum number of calendar days for the transfer to complete: 15
Maximum number of calendar days for the transfer to complete: 38 days (this was earlier this year when everybody was having this issue)

Eliminating the 38 day outlier, and the next longest one was 25 days.

With the outlier, the average number of days was 20
Without the outlier, the average number of days was 18

HealthEquity does not do this via ACH - they literally cut a check and mail it to Fidelity.

Cheers.

[dcabler]

Will HE send over investments as cash or I do need to manually move investments to cash before a transfer?

There is no "like kind" transfer available. You have to move to cash - HE does the transfer by cutting a check and mailing to Fidelity.

Cheers

[roth evangelist]

Forgot to post this a few days ago:

7/26: Initiated partial transfer
8/03: Transfer to Fidelity initiated
8/09: Money received at Fidelity

Two weeks.

[jbsmith05]

I just initiated this from the Fidelity side...now my Health Equity has a banner saying it's pending account closure? I only did a partial transfer of cash out of Health Equity.

Is this just a generic banner while processing the partial transfer out??

[pcutil]

I got the same banner when initiated partial transfer from HealthEquity side and was confused as well. Most likely its a standard banner.

[JustThisGuy]

Is this just a generic banner while processing the partial transfer out??

That's pretty much what's going on here. I had the same reaction when I did my first partial transfer, and HE assured me that it was normal.

[hate2work]

Transfer initiated from HE on August 8th, funds received in Fidelity account on August 24th.

[JustThisGuy]

8/16: Partial transfer to Fidelity initiated on HE's website. Freeze happened within an hour or two as expected.
8/23: Funds withdrawn.
8/28: Funds hit Fido

12 days, start to finish. I think it's clear at this point that this is the way to go, at least from my perspective.

[FinnJavel66]

My experience with transfer, thanks to all for suggesting to initiate it from the HE side, even though the Fidelity rep tried very strongly to suggest I initiate a pull from their side.

11/16/22 Initiated liquidation of investments at HE
11/18/22 Liquidation complete
11/18/22 Partial ($30 left at HE) transfer initiated
11/19/22 Account ‘Frozen’, current status: ‘Solved’
11/30/22 HE ‘Recent Transactions’ show: Trustee to Trustee Transfer, account unfrozen, balance: $30
12/06/22 Moneys in Fidelity HSA, able to buy and allocate to according to my preferred AA

Twelve business days from liquidation to xfer to complete, twenty calendar days.
Ten business days from transfer request, eighteen calendar days.

[roth evangelist]

I've neglected to post my transfers lately but this last one took a bit longer so thought I'd share.

2/17: Initiated partial transfer
2/28: Transfer to Fidelity initiated
3/13: Money received at Fidelity

Nearly a month.

[wshv]

I'm trying to do the push from the HealthEquity side for the partial transfer. When filling out their online form, I am asked to provide the account number of my Fidelity HSA account. Are they just looking for the original 9-digit account number or I just need to include some prefixes? I google this question but don't find lots of information online

[life in slices]

I'm trying to do the push from the HealthEquity side for the partial transfer. When filling out their online form, I am asked to provide the account number of my Fidelity HSA account. Are they just looking for the original 9-digit account number or I just need to include some prefixes? I google this question but don't find lots of information online

I just use my 9 digit account number for the Fidelity HSA
(I also do transfers with HE’s online form)

[dcabler]

I'm trying to do the push from the HealthEquity side for the partial transfer. When filling out their online form, I am asked to provide the account number of my Fidelity HSA account. Are they just looking for the original 9-digit account number or I just need to include some prefixes? I google this question but don't find lots of information online

I just use my 9 digit account number for the Fidelity HSA
(I also do transfers with HE’s online form)

Same here. Just use your Fidelity HSA account number.

Cheers.

[dcabler]

I've neglected to post my transfers lately but this last one took a bit longer so thought I'd share.

2/17: Initiated partial transfer
2/28: Transfer to Fidelity initiated
3/13: Money received at Fidelity

Nearly a month.

My latest one from HE to Fidelity (initiated from the HE side) took 16 calendar days and completed last week.

I've been tracking this since I first started doing it.
Average of 19.6 calendar days over 14 partial transfers.
The majority of these are between 15 and 20 calendar days with 2 outliers: one that took 25 days and another that took a whopping 38 days. That one was initiated in February of 2022 and a lot of people on the forum were reporting issues at that time (the issue was on the HE side).

I initiate a transfer every 3 paychecks. Looks like I'll initiate another one at the end of this week.

Cheers.

[hmrambling]

Changes have been implemented on Health Equity's site between 6/8/23 and 7/14/23.

Health Equity has changed their support help ticket system which will affect our ability to see previous partial transfer requests.

In the past, I could view my previous partial transfers by going to the clicking Support on the top of the screen and then viewing my previous help desk tickets. Since they've updated the site, I cannot see any previous requests. Completing the partial transfer form no longer gives me a reference number on the screen. When I requested a partial transfer form, I got a message on the screen that said to check my email for a reference number.

In 2023, the average number of days between the day that I request the partial transfer from Health Equity and the time that funds have been deposited to Fidelity is 19.

[hmrambling]

Current link to transfer from Health Equity after site redesign: https://member.my.healthequity.com/help ... m-transfer

When you complete the transfer, you will receive this message:

HSA Partial Transfer Out Request
Success we have received your form.
Check your email for a confirmation number.
Return to forms and documents

You will not get a confirmation code on the Health Equity website.

[Eda44]

Hello,

I realize this thread is a bit old so I hope this is seen. I was wondering, after speaking to HE, they stated that a partial transfer of the cash portion (leaving funds in invested portion) only freezes the cash portion (in this case, just the $25 minimum). Per HE, the invested portion is still in the market doing its thing.

Does this coincide with what others have experienced? It seems unclear from the thread if the *entire* account is frozen and the invested portion is still exposed/not exposed to the market during the freeze.

I was also wondering if anyone decided to cash out their invested portion and transfer that as well, and how that went, tax penalty-wise.

Thank you in advance.

[exarkun]

In the past, I could view my previous partial transfers by going to the clicking Support on the top of the screen and then viewing my previous help desk tickets. Since they've updated the site, I cannot see any previous requests.

This is really annoying. In the past, I could easily copy/paste the relevant information from my old requests to the new. Now I need to go re-find all the information for the Institution (Fidelity) address.

FYI, here it is for Fidelity; It is the "Trading" address:

https://www.fidelity.com/customer-servi ... -addresses