The fees listed below may occur intentionally or by customer-created events described in more detail.
In most cases, First Dollar HSA customers will never incur these fees.
1. Daily Overdraft (OD) Fee begins on the 5th calendar day after first overdraft item and continues for 30 calendar days if the account remains in a negative balance.
2. Individual overdraft items of $5.00 or less will not be charged a fee.
3. Transactions posted against insufficient or held funds.
4. A return item charge will not be assessed for ACH items returned or unpaid.
5. Accounts with no customer generated activity for a one year period will go dormant, and are subject to a $5/month fee until the account reaches a $0 balance or the funds are sent to the state (escheatment). Customer generated activity includes debit card purchases, withdrawals, customer check deposits, and money transfers from your HSA to your investment account. Direct deposits are not considered customer generated activity, as the deposit is initiated by an employer, not the customer. Dormant accounts will go into escheatment after a period of dormancy determined by the state of customer residency. Escheatment is the process through which funds are turned over to the state.
6. In accordance with Lending Club bank policies, accounts that have a zero dollar account balance for over 90 days will be closed. HSA accounts with linked TD Ameritrade investing are exempt from this closure.
*Annual Percentage Yield (APY) accurate as of 4/10/2020. Minimum amount to open a First Dollar HSA (Checking) account is $0.00. Rate of 0.01% applies to entire balance. Rates may change after account is opened. Fees may reduce earnings. FDIC-insured up to at least $250,000 per depositor.