Bank of America
Quick Summary
- Major national bank
- Vanguard fund access
- 24/7 support
- Free Visa debit card
The Verdict
Bank of America offers a solid foundation with a monthly fee of $2.50 and mutual fund investing, earning a 3.2/5.0 rating from HSA Orbit.
At Bank of America, we ask this question every day of all those we serve. It is at the core of how we live our values, deliver our purpose and achieve responsible growth. By asking this question, we continue to learn what matters most to our clients, our employees and our shareholders. It helps us start a conversation centered on our commitment to use our capabilities to help those we serve be successful. Because we recognize that we can only be successful when the individuals, companies, communities and employees we serve are able to reach their vision of success.
Key Features
Banking & Access
Includes debit card and online banking.
Investment Options
Offers mutual fund investing.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
No minimum balance to open. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance* | $2.50 | $0.69 | ABOVE AVG |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $25.00 | $1.95 | ABOVE AVG |
| Transaction fees | $0.00 | N/A | -- |
| Minimum balance fees | $0.00 | N/A | -- |
| Non-sufficient funds fees | $0.00 | N/A | -- |
| Wire transfer fees | $0.00 | N/A | -- |
| Paper statement fees | $0.00 | N/A | -- |
| Over-contribution fees | $0.00 | N/A | -- |
* $2.50/month
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Mutual Fund Investing
Access mutual fund investments through your HSA with Bank of America.
- Minimum Threshold$1,000
- FeesNo transaction fees. No enrollment fees. Vanguard fund lineup.
Interest Rates
Standard Rates
| Balance Range | APY |
|---|---|
| $0 - $2,500 | 0.10% |
| $2,500 - $10,000 | 0.30% |
| $10,000+ | 0.70% |
Last updated: 02-13-2025
Contact Information
Address
Bank of America, C/O Health Account Services, PO Box 420638, Dallas, TX 75342
Customer Service
1-800-992-3200
Bank of America C/O Health Account Services PO Box 2203 Fargo, ND 58108
At a Glance
Pros & Cons
The Good
- •FDIC/NCUA insured deposits
The Bad
- •Monthly fee of $2.50
- •$1,000 minimum to invest
User Sentiment
Based on community feedback
Sentiment data coming soon
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