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HSA Checking
| MINIMUM DEPOSIT TO OPEN | INTEREST EARNED | FEES |
|---|---|---|
$50 |
Yes |
Yes |
Overview
A Health Savings Account, offered by CIBC Bank USA, 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