HSA Checking Account
Health Savings Accounts offer a tax-advantaged way to pay qualified expenses
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DCU Health Savings Checking Account
- Conveniently pay for qualified healthcare expenses
- For members with high-deductible health plans
- Earn competitive dividends on your entire daily balance
- No minimum balance to open
- Debit card
- Free online, mobile, and branch access
- Unlimited check writing
- Federal insured to $250,000 by NCUA
Please refer to Details and Rates tabs for more information.
"HSA is a handy tool"
Having an HSA is a great way to manage medical expenses. DCU's is very easy to administer
— SimonB, Boxborough, MA
HSA Checking Account Details
- Conveniently pay for qualified healthcare expenses As a checking account, DCU's HSA makes it easy to pay for medical expenses incurred by you, your spouse, or your dependents.
- For members with high-deductible health plans By IRS rules, you must have this type of health plan to have an HSA. In exchange for paying a larger deductible up front, members of these programs tend to see lower insurance premiums.
- Earn competitive dividends on your entire daily balance From day of deposit to day of withdrawal, compounded daily and paid monthly.
- No minimum balance to open or to earn dividends.
- Debit card Your HSA debit card makes it convenient to pay for qualified expenses at thousands of locations that accept Visa debit cards.
- Free online, mobile, and branch access You can access your HSA Checking Account 24 hours a day using Online Banking, Mobile Banking, Easy Touch Telephone Teller, and at DCU ATMs with your HSA Debit Card. You can also access your account with your HSA checks, at any DCU branch.
- Unlimited check writing
- Federally insured to $250,000 by NCUA Learn more about this coverage.
HSA Checking Account Rates*
|Balance Tiers||Dividend Rate||Annual Percentage Yield|
|When daily balance is $100,000 or more||0.20%||0.20%|
|When daily balance is $50,000 to $99,999||0.20%||0.20%|
|When daily balance is $25,000 to $49,999||0.20%||0.20%|
|When daily balance is $10,000 to $24,999||0.15%||0.15%|
|When daily balance is $1,000 to $9,999||0.10%||0.10%|
|When daily balance is less than or equal to $999||0.05%||0.05%|
Rates are effective .
*Rates are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. HSA Checking Account dividends are calculated on the full balance using the highest applicable dividend rate. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings. Refer to DCU's Truth-in-Savings Disclosures and Account Agreements and Schedule of Fees and Service Charges.
Ask your questions. Share your answers.
2) can I scan a check online to deposit into your HSA. I know you offer it for checking account deposits, but does it work with the HSA?
2) Not at this time but you can scan the check into your checking/savings account and then do an online transfer into your HSA a/c.
Perhaps what you need to do is open an HSA with DCU and make up the difference.
Yes, DCU lets you do "PC Deposit" to an HSA.
At this time, we do not offer the option to make a deposit into an HSA Checking Account using our PC Deposit service. However, you can regularly transfer money into your HSA Checking Account from your other DCU accounts. Set up automatic transfers on PC Branch.
I would like to switch over to DCU because of all the fees associated with the HSA bank account.
Can my employer deposit my withholdings directly into my HSA account with DCU?
Is there any information on how to do this?
Hope this helps anyone trying to do the same. DCU customer service rocks!!
• Covered under a high deductible health plan (HDHP) on the first day of the month
• Generally not covered by any health plan that is not an HDHP (exceptions exist for coverage that is not part of an HDHP for accidents, disability, dental care, vision care, long-term care, or permitted insurance)
• Not enrolled in Medicare
• Not able to be claimed as a dependent on another person’s tax return
Qualified medical expenses are expenses incurred after an HSA has been established, are not covered by insurance, and are paid by the HSA owner, his or her spouse, or dependents. Types of qualified medical expenses include:
• diagnosis, cure, mitigation, treatment or prevention of disease, or for the purpose of affecting any structure or function on the body;
• transportation for the essential medical care listed above;
• qualified long-term care services;
• premiums for qualified long-term care insurance, COBRA health care continuation coverage, health care coverage while an individual is receiving unemployment compensation;
• for individuals over age 65, premiums for Medicare Part A or B, Medicare HMO, and the employee share of premiums for employer-sponsored health insurance, including premiums for employer-sponsored retiree health insurance; and
• certain amounts paid for lodging while away from home that is essential to medical care.
In addition to the tax benefits of the program, DCU makes it easy to set up and utilize. It's visible with my other accounts and the check card makes it even easier to use.
— Jblades3, Leominster, MA
Opening and Managing Your HSA Checking Account
If you have any questions, please speak with a Member Service Representative at your nearest DCU branch or call our Information Center at 508.263.6700 or 800.328.8797, weekdays 8:00am to 9:00pm and Saturdays 9:00am to 3:00pm ET.
"Easy and efficient"
I've been using my HSA account for the last few years and the whole process was extremely simple and convenient. No minimum balances or fees. I love DCU.
— vistify, Willoughby Hills, OH
- HSA Service Center Includes information about Health Savings Accounts and an HSA Planner. Open a new DCU HSA Checking Account or service your existing one.
- About NCUA Insurance – Complete information and details about NCUA Insurance.
- Order Checks – Complete information about reordering checks.
- Affidavit of Forgery (.pdf format) – Use the Affidavit of Forgery to report checks which have been fraudulently cashed on or against your Digital Federal Credit Union account.
- Truth-in-Savings Disclosure (.pdf format) – Covers disclosures related to all DCU savings and checking accounts. DCU's Funds Availability Policies are covered here.
- Schedule of Fees and Service Charges – Details regarding member benefits that may help you avoid fees.
- Electronic Services Disclosure and Agreements (.pdf format) – This covers disclosures related to DCU electronic services such as Debit Cards, ATM Cards, Online Banking, and Easy Touch Telephone Teller system.
- Funds Availability Policy – This covers DCU's policies regarding holds on deposits.
- Check 21 Disclosure – Covers what your rights are regarding substitute checks and how to make a claim for a refund.
- Update Contact Information Form (.pdf format) – For address, phone number(s), and/or email address changes.
- Automatic Transfer Authorization (.pdf format) – Have DCU set up recurring automatic transfers from checking and savings to other accounts. (Note: you can also set up automatic transfers yourself in Online Banking.
- Authorization and Agreement for Pre-authorized Payments – Make recurring transfers from your account at another financial institution to your DCU loan account.
- Authorization and Agreement for Pre-authorized Withdrawals – Make recurring transfers from your DCU account to another financial institution.
- Direct Deposit of Federal Recurring Payments (.pdf format) – Use this form to have DCU set up direct deposit of your Social Security or federal pension to your DCU account.