M

Midwest Bank - MN

Best ForActive Investors
Fees$2.00/mo

Quick Summary

  • HSA savings account

The Verdict

Midwest Bank - MN provides essential HSA features with a monthly fee of $2.00 and self-directed brokerage access, CD options, earning a 0/5.0 rating from HSA Orbit.

Midwest Bank is a locally owned, community focused bank committed to building lasting relationships with both our customers and employees by consistently exceeding their expectations.

Key Features

Banking & Access

Includes debit card, online banking and check-writing.

Investment Options

Offers self-directed brokerage and CDs.

Security & Insurance

Deposits are FDIC/NCUA insured for your protection.

Account Details

Requires $100 minimum balance. no account opening fees.

Fee Analysis

Fee TypeThis ProviderIndustry AverageVerdict
Monthly Maintenance*$2.00$0.69ABOVE AVG
Account Opening$0.00$1.88EXCELLENT
Account Closing$0.00$1.95EXCELLENT

* Account Opening Fee

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

Investment Options

Brokerage Access

Midwest Bank - MN provides a self-directed brokerage window for investing your HSA funds in the broader market.

StocksETFsCDs

Interest Rates

Standard Rates

Balance RangeAPY
$0+0.40%

Last updated: 06-20-2024

Contact Information

Address

215 Front Street South Barnesville, MN 56514-0737 Customer Service Mailing Address Midwest Bank PO Box 737 Barnesville, MN 56514-0737

Customer Service

(218) 354-2704

215 Front Street South Barnesville, MN 56514-0737 Customer Service Mailing Address Midwest Bank PO Box 737 Barnesville, MN 56514-0737

At a Glance

Monthly Fee$2.00
Investment Threshold$0
Interest Rate (Cash)~0.40%
Debit CardIncluded
FDIC InsuredYes

Pros & Cons

The Good

  • No account opening or closing fees
  • Self-directed brokerage access
  • FDIC/NCUA insured deposits

The Bad

  • Monthly fee of $2.00

User Sentiment

Based on community feedback

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NegativeNeutralPositive

Sentiment data coming soon

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