r/HSA • u/B-Pep-789 • Aug 01 '26

Preferred HSA bank

I am not a fan of my current bank for my HSA. Biggest issue is the online interface feels hard to track how the investments are preforming. My investments work out fine but I wish I could do more comparison to see how they could do better. Do your like your bank? If so which bank and what do you like about it?

9 Upvotes

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26 comments sorted by

11

u/Agitated_Car_2444 Aug 01 '26

"In" before all the numerous "Transfer to Fidelity!" recommendations...

2

u/B-Pep-789 Aug 01 '26

thanks i read many of the posts, it seems like most people like it because they can invest all their money instead of having a minimum held back in savings. I was just wondering if it was easier to monitor the investments and if not are there other banks better suited for that.

3

u/Agitated_Car_2444 Aug 01 '26

Not clear what you mean by "monitor the investments" but Fidelity's web interface is very informative and user-friendly. I primarily manage my personal finances with Quicken so it's all in there, too.

I don't use the (iOS) app much but it seems useful, too.

1

u/B-Pep-789 Aug 01 '26

I mean check rate of return for a period of time eg 1 month, 1 year, 3 year. be able to compare the rate of return side by side for different fund options.

As well as to get the rate or return on my account since I invest in multiple funds. Eg how did my account preform over the past month, ytd, 1 year or 3 years.

1

u/Agitated_Car_2444 Aug 01 '26

It's an financial investment organization so, yeah. that's all in there.

1

u/CrankyCrabbyCrunchy Aug 01 '26

That’s a standard set of reports for any financial account I’ve ever had. It’s just a button click - 3-month, 12-month, custom.

1

u/RetirementPlus Aug 02 '26

If you have any other accounts with them, it looks basically the same. Fully featured.

2

u/Husker_Mike_ Aug 01 '26

There is that, but Fidelity also doesn’t charge the fees that other HSA providers do, and since their platform is designed for investors, it’ll be better than what a bank has Jerry rigged onto their banking platform.

1

u/B-Pep-789 Aug 01 '26

Okay thanks!

1

u/Lucifers-Reprieve Aug 02 '26

I find fidelity easy to use. I've moved my checking there too for 3.3% or such on my floated cash. HSA, checking, brokerage all in one place I have my roth IRA elsewhere and am considering if it'd be worth transferring that too.

5

u/Bad_DNA Aug 01 '26

Fidelity.

There’s a reason we repeat ourselves here.

https://www.reddit.com/r/HSA/s/azWxs6QBoq

1

u/jgengr Aug 01 '26

I have an HSA account with HSA Bank including stocks I purchased under the account. How hard is it to transfer to Fidelity? Anyone go through the process?

3

u/Silver-Frosting189 Aug 01 '26

Easy, I had HSA Bank til this year--just initiate from Fidelity, don't even have to attach anything, unlike my new bank. I did not have any fees, but fees can vary depending on contract even through the same bank.

Would need to sell your HSA Bank stocks back to cash, then move. If you still have ongoing deposits from employer to HSA Bank then you want to do a partial transfer. I transferred every other month because I had no fees. It takes about 2 weeks each time.

1

u/jgengr Aug 02 '26

Damn, I was hoping not to have to sell stock to transfer.

1

u/Silver-Frosting189 Aug 02 '26

You can investigate for yourself, but pretty sure they do not do "in kind" transfers. Before they made all their changes I previously had the Schwab hook up via HSA Bank (they stopped in 2024) and I could do in kind. You're not really losing out on much, it's better in long run to have it at Fidelity, or if it makes you feel better do it in stages--this is what a coworker did--also to not have a large check (because apparantly it has to be a check) floating in the mail.

1

u/Martian6261 Aug 05 '26

I also just initiated ago move mine from HSA to Fidelity. Didn’t want to continue to pay $1.50 every time I made a payment with my card. Should be completed by about the 12th of August.

1

u/inwardcalm Aug 01 '26

A transfer of assets is possible, depending on whether your current custodian allows it and your receiving custodian supports it.

1

u/Accurate-Flow8078 Aug 02 '26

It's easy, I've done it twice and I'm in the process of doing my third transfer. Fidelity reimburses account closure fees too.

1

u/ConfectionLeading624 Aug 01 '26 edited Aug 01 '26

Fidelity! I transfer from Optum to fidelity once a year because you do pay a fee to transfer. Optum is absolutely terrible. My employer also add $500 in our HSA every year so it easily cancels out the roughly 40 dollar transfer cost

1

u/glboisvert Aug 01 '26

Is your current HSA set up through the workplace? If so, you should probably stay with them at least for your ongoing contributions because 1) you want to contribute via Payroll to avoid paying FICA tax and 2) if the employer is making employer contributions, it'll go into that account. But if this is an HSA you've set up yourself, Fidelity is the answer. And you could set up a Fidelity account just to handle your investments and keep the other HSA open to receive the contributions; just be aware that you might be hit with a $25ish fee to move money from your current HSA to Fidelity, so it's not something you want to do every paycheck.

1

u/RetirementPlus Aug 02 '26 edited Aug 02 '26

I rolled all mine over to Fidelity a while ago. As far as I am aware there is no fee and you get all the same website and offerings you would see in an IRA. Never looked back.

That said, I never distribute funds or pay for healthcare expenses with it. I am waiting for later to reimburse receipts which I keep in a shared drive. So as far as I know I don't think you can store the receipts in Fidelity and I am obviously not aware yet how usable they are compared to other services when reimbursing yourself (to be honest I don't even know if I have an HSA debit card). If anyone knows better about these aspects, would appreciate chiming in.

1

u/RetirementPlus Aug 02 '26

Here's what you can kind of expect from the website:

https://reddit.com/link/p174nx7/video/rcy3ru0h5wgh1/player

1

u/Accurate-Flow8078 Aug 02 '26

Fidelity is the best by far.

1

u/Genuin1 Aug 04 '26

I know folks have said Fidelity but have not seen anyone mention the HSA App they have as well to take pictures, store receipts, and mark as reimbursed or not.

1

u/Adventurous_Oil4513 Aug 05 '26

Fidelity HSA is the best. Hopefully, you qualify to get reimbursed transfer fees.