F

First Merchants Bank

Best ForEveryday Medical Spending
FeesNone ($0 Maintenance)

Quick Summary

  • HSA savings account

The Verdict

First Merchants Bank provides essential HSA features with zero monthly maintenance fees and basic savings functionality, earning a 0/5.0 rating from HSA Orbit.

Since our beginnings in 1893, we understand that it’s about the customer. We make our customers feel at home. We show them we care. We make them feel special. Give them advice. Give them value. Keep our promises. Help them out when they really need it. Reach out to them. Know them. Thank them.

First Merchants Corporation is the largest financial services holding company located in Central Indiana. We provide our customers with broad financial services delivered locally by bankers who are known and trusted in their communities. We offer personal banking, business banking, mortgage lending, treasury management services, and wealth management.

We are focused on building deep, lifelong client relationships and providing maximum shareholder value. We provide an environment where customers can bank with their neighbors, realizing that our business begins and ends with people.

Key Features

Banking & Access

Includes debit card and online banking.

Investment Options

This provider focuses on cash savings without investment options.

Security & Insurance

Deposits are FDIC/NCUA insured for your protection.

Account Details

No minimum balance to open. no account opening fees.

Fee Analysis

Fee TypeThis ProviderIndustry AverageVerdict
Monthly Maintenance$0.00$0.69EXCELLENT
Account Opening$0.00$1.88EXCELLENT
Account Closing$25.00$1.95ABOVE AVG

Industry averages calculated from 853 providers in the HSA Orbit database.

Investment Options

Savings-Only Account

First Merchants Bank currently offers a savings-focused HSA without investment options. Your funds earn interest in a cash account.

Interest Rates

Standard Rates

Balance RangeAPY
$0 - $1000.00%
$100+0.01%

Last updated: 08-21-2024

Contact Information

Address

200 E. Jackson St Muncie, IN 47305 Customer Service

Customer Service

1-800-205-3464

200 E. Jackson St Muncie, IN 47305 Customer Service

At a Glance

Monthly Fee$0
Investment ThresholdN/A
Interest Rate (Cash)~0.01%
Debit CardIncluded
FDIC InsuredYes

Pros & Cons

The Good

  • No monthly maintenance fees
  • FDIC/NCUA insured deposits

The Bad

  • No investment options available

User Sentiment

Based on community feedback

--
NegativeNeutralPositive

Sentiment data coming soon

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