HSA Debit Card Account
Employers often find that not all employees prefer the mutual fund investment option. For employer groups where some employees choose the mutual fund and some prefer the option of a checking account/debit card.
If you choose the debit card, you may use it just like any other VISA debit card.
The debit card is part of the HSA Fund Advantage® program and is issued by Fulton Bank in Virginia Beach. Fulton Bank is also the Custodian for all of our health savings accounts.
| Fulton HSA Debit Card Account | ||
| HSA Debit Card Account Interest Rate Chart | Rates effective as of 8/1/2010 | |
|---|---|---|
| Amount on Deposit | Interest Rate | Annual Percentage Yield* |
| $0.00–$99.99 | 0.00% | 0.00% |
| $100.00–$999.99 | 0.10% | 0.10% |
| $1,000.00–$4,999.99 | 0.20% | 0.20% |
| $5,000.00–$14,999.99 | 0.65% | 0.65% |
| $15,000.00 or more | 1.00% | 1.00% |
| Compounding Monthly—*Annual Percentage Yield—Member FDIC | ||
| Account available to US residents only. Account holders must have a valid Social Security Number to establish account. Please review the HSA Debit Card Account Disclosure for additional information. At the bank's discretion, advertised rates could change at any time. Fees assessed on accounts could reduce earnings. | ||
Note: If you use the HSA Debit Card Account for non-medical expenses (explained in a later section of this document) you will be subject to a 6% penalty and you will be responsible for the taxes on that debit card withdrawal.