F

Frandsen Bank & Trust

Best ForFee-Conscious Savers
FeesNone ($0 Maintenance)

Quick Summary

  • HSA savings account

The Verdict

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

Frandsen Bank & Trust provides a true community banking experience to over 30 communities throughout Minnesota, North Dakota, and Wisconsin. By forming meaningful relationships with all customers, both large and small, we are able to deliver custom financial solutions that support their goals.

Founded in 1982 by Dennis Frandsen, Frandsen Bank & Trust is owned by Frandsen Financial Corporation (FFC), a $3 billion interstate holding company, with an additional $1 billion in assets managed by our investment and trust divisions. Based in Arden Hills, Minn., FFC provides crucial operational support services to its bankers – allowing them more time with customers to develop personal, long-term banking relationships.

We are a diverse and inclusive organization with a shared vision to create success in the lives of our customers, communities, and employees. The unique backgrounds, experiences, and talents of our workforce provide everyone the opportunity to grow and prosper. By employee opinion, we have earned Star Tribune Top Workplace four consecutive years, showcasing our commitment to the engagement and satisfaction of our entire team.

Key Features

Banking & Access

Basic account access provided.

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$0.00$1.95EXCELLENT

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

Investment Options

Savings-Only Account

Frandsen Bank & Trust currently offers a savings-focused HSA without investment options. Your funds earn interest in a cash account.

Interest Rates

Interest rates are not currently available for this provider.

Contact Information

Address

3585 Highway 61 Vadnais Heights, MN 55110 Customer Service Mailing Address Frandsen Bank & Trust P.O. Box 200 Lonsdale, MN 55046

Customer Service

3585 Highway 61 Vadnais Heights, MN 55110 Customer Service Mailing Address Frandsen Bank & Trust P.O. Box 200 Lonsdale, MN 55046

At a Glance

Monthly Fee$0
Investment ThresholdN/A
Interest Rate (Cash)Not published
Debit CardNot included
FDIC InsuredYes

Pros & Cons

The Good

  • No monthly maintenance fees
  • No account opening or closing fees
  • FDIC/NCUA insured deposits

The Bad

  • No investment options available
  • No online banking
  • No debit card included

User Sentiment

Based on community feedback

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NegativeNeutralPositive

Sentiment data coming soon

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