HSA Checking

MINIMUM DEPOSIT TO OPEN INTEREST EARNED FEES

$50

Yes

Yes

Overview

A Health Savings Account is a tax-advantaged, interest-bearing checking account that you can use to pay for qualified medical expenses.

Key features

Earn a higher interest rate with a higher monthly account balance. No minimum balance requirements. Other benefits include:

  • The potential for tax-exempt contributions and interest1
  • The potential for tax-free account balance growth1
  • No annual fee
  • No setup fee
  • Balance carries over from year to year
  • First check order free2
  • Free check images on monthly statements
  • Access funds with special HSA checks, debit card or online through CIBC Netbanking

Interest earned

Yes, compounded and credited monthly.
 

Fees

Transaction fees include:

  • $35 fee to transfer funds to another bank
  • $10 per excess contribution
  • $10 per mistaken distribution

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