Your time, money, and privacy are valuable. As custodians of the Health Wallet platform, we take that responsibility seriously. And that's why we've recruited some of the best industry security and compliance experts to our team. Below are some of the methods that our experts employ to prevent financial fraud and unauthorized access to your data.
First Dollar supports partners' compliance with the United States Health Insurance Portability and Accountability Act (HIPAA), which governs the safeguarding, usage, and disclosure of protected health information (PHI).
A SOC 2 Type II report is an internal controls report capturing how a company safeguards customer data and how well those controls are operating. As a cloud-native service provider, we had a great head start in securing our customers’ data, but we wanted to go further and demonstrate our security to our partners and customers. Having this assessment offers evidence that we have implemented and continuously maintain the security controls we say we have and that those controls are working correctly to protect your sensitive data.
To prevent unauthorized access, we require members to use two-factor authentication to access their accounts.
Sensitive data access is strictly restricted to only staff with a business need.
We know that new forms of fraud happen every day, so we don’t rest on our certifications. Our team proactively reviews our systems and accounts to identify fraud issues before they develop.
Piermont Bank is a member of the FDIC and holds all First Dollar HSA accounts. In the unlikely event that First Dollar went out of business, funds in your account would be protected by the Federal Deposit Insurance Corporation (FDIC). The FDIC insures accounts for up to $250,000 per owner.