Customers may obtain the benefits of FDIC insurance eligibility in a Fidelity HSA® through the FDIC-Insured Deposit Sweep Program and the Program Banks listed below. Once you open and fund your HSA, the available Cash Balance will be held on your behalf at one or more of the Program Banks assigned to your account1. Once at the bank, your Cash Balance will be eligible for FDIC insurance coverage up to the applicable limits2.
Fidelity will assign the Program Bank List shown below to your account. The banks on the list will be eligible to receive your Cash Balances. After your account is established, you will receive a New Account Profile confirming your account details, including the Program Bank List assigned to your account. After your account is open, you may contact us to change to another Program Bank List, if one is available.
Program Bank List3
Program Banks as of 04/14/2021 are:
- SANTANDER BANK NA
- FIFTH THIRD BANK - unavailable
- TRUIST BANK
- UNION BANK NA
- WELLS FARGO NA - unavailable
- CITIBANK NA
- UMB BANK NA
- FIRST HORIZON BANK - unavailable
- JP MORGAN CHASE BANK NA
Fidelity will manage the movement of money between Fidelity and the Program Bank; this will occur automatically whenever you make deposits, execute transactions or withdraw money from your HSA. To learn more, please review the FDIC-Insured Deposit Sweep Program Disclosures. You may call a Fidelity Representative at 800-544-3716 if you have any questions regarding the Program Banks.
- You may only access your Cash Balance through your Fidelity HSA. You cannot access or withdraw the Cash Balance by directly contacting the Program Bank.
- The Cash Balance in the FDIC-Insured Deposit Sweep is swept to an FDIC-Insured interest-bearing account at a Program Bank. The deposit at the Program Bank is not covered by SIPC. The deposit is eligible for FDIC insurance subject to FDIC insurance coverage limits. All assets of the account holder at the depository institution will generally be counted toward the aggregate limit. For more information about FDIC insurance coverage, please visit the FDIC Web site at www.FDIC.gov or call 877-ASK-FDIC. As referenced in the FDIC-Insured Deposit Sweep Program Disclosures, customers are responsible for monitoring their total assets at a Program Bank to determine the extent of available FDIC insurance. All FDIC insurance coverage is in accordance with FDIC rules.
- If the HSA Master Program Bank List contains only a single Program Bank, then the Program Bank List assigned to the account will be comprised of only a single Program Bank and that Program Bank will also be the Primary Core Bank. Please note that in this situation, it is likely that Program Deposits at the Primary Core Bank in excess of the Maximum Deposit Limit will not be covered by FDIC insurance.