About
Whether you are an employer seeking the best possible healthcare coverage package for your employees, or an employee desiring the tax advantages and additional safety net provided by a Health Savings Account (HSA), Mercantile Bank offers the right solution with the right benefits.
HSA Program Features
- FDIC or NCUA Insured:
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- Min Balance to Open:
- $0.00
- Features:
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- Debit Card
- Checks
- Online Banking
- Investment Options
HSA Interest Rates
Interest rates are unknown at this time
Fees
| Monthly Maintenance Fee | $5.00* |
|---|---|
| Account Opening Fee | Unknown |
| Account Closing Fee | $25.00** |
* If you do not enroll in electronic statements
HSA Investment Options
Mutual Fund Platform:
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Self-Directed Brokerage:
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CDs:
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Other:
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Mutual Fund Details
Investment Threshold: $2,500
Investment Fee: $4.25 / Month
Investment Fee: $4.25 / Month
Mercantile Bank, in partnership with Devenir—the national leader in HSA investments—offers account holders access to top-tier mutual funds across various asset classes. Once your HSA checking balance reaches $2,500, you can begin self-managing investments and potentially earn higher, tax-free returns.
CDs Details
An HSA account with higher investment earning potential over time.
At a GlanceAn account that offers higher investment earnings potential over time.
Best forLong-term savings needs for those seeking higher rates of return with less need for liquidity.
Features- Flexible maturities range from one to 60 months
- 24-hour account access with Internet Banking
- Customers must have a Mercantile Health Savings Account with at least a $2,500 balance to qualify
- Balance in the HSA Certificate of Deposit is combined with the balance in the HSA Checking Account to meet the HSA minimum balance requirement
$500
InterestInterest is paid to the certificate quarterly.
Contact Information
General Information
| Website | Mercantile Bank's HSA Website open_in_new |
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Customer Service
| Mailing Address | HSA Support PO Box 2208 Grand Rapids, MI 49501 |
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| Phone Number | 888.345.6296 ext. 3700 |
| Email Address | [email protected] |