Nature of Your HSA. Your HSA is an interest-bearing custodial account at the Bank, the cash deposits of which are insured by the Federal Deposit Insurance Corporation up to the Standard Maximum Deposit Insurance Amount. You may access your HSA to pay or reimburse Qualified Medical Expenses via a Truist Benefit Access VISA® Debit Card (your “Card”), through Truist OnLine Bill Pay, ACH debit transactions, checks or by obtaining a withdrawal at any Bank branch. Use of the Card or OnLine Bill Pay to make HSA distributions is additionally subject to the terms of separate agreements which will be provided to you with the Card or when you enroll for OnLine Bill Pay. You may arrange with Truist to have funds automatically deposited into your HSA from another account at the Bank or from an account at a third-party financial institution. We are not responsible for any fees charged by other financial institutions. We will place a three (3) business day hold on the amount of any automatic transfer into the HSA from a third-party institution. Such transferred funds cannot be withdrawn from the HSA until the three (3) business day hold expires, although the funds will earn interest during the hold period.
Nature of Your HSA. Your HSA is an interest-bearing custodial account at the Bank, the cash deposits of which are insured by the Federal Deposit Insurance Corporation up to the Standard Maximum Deposit Insurance Amount. You may access your HSA to pay or reimburse Qualified Medical Expenses via a BB&T Benefit Access VISA® Debit Card (your “Card”), through BB&T OnLine Bill Pay, ACH debit transactions, checks or by obtaining a withdrawal at any Bank branch. Use of the Card or OnLine Bill Pay to make HSA distributions is additionally subject to the terms of separate agreements which will be provided to you with the Card or when you enroll for OnLine Bill Pay. You may arrange with BB&T to have funds automatically deposited into your HSA from another account at the Bank or from an account at a third-party financial institution. We are not responsible for any fees charged by other financial institutions. We will place a three (3) business day hold on the amount of any automatic transfer into the HSA from a third-party institution. Such transferred funds cannot be invested or withdrawn from the HSA until the three (3) business day hold expires, although the funds will earn interest during the hold period. When your Account balance exceeds $3,000 by $500 or more, you may elect to have the excess funds automatically swept into one or more mutual funds that you select from a set menu of mutual funds. To invest available funds, you must open an HSA Sweep Investment Sub-Account. The minimum amount that may be automatically swept into the HSA Sweep Investment Sub- Account is $500. Any non-deposit investment products that you purchase using funds in your HSA Sweep Investment Sub-Account are not FDIC-insured, are not a deposit or other obligation of the Bank and are not guaranteed by the Bank or any of its affiliates, and are subject to investment risk, including the possible loss of the principal amount invested and any investment gains. The menu of available mutual funds and related fees and other information, including prospectuses, is available at xxx.xxx.xxx/xxx. The purchase of fund shares through the BB&T HSA is exempt from sales charges (no load). If the Bank were to fail, funds swept from your interest-bearing custodial deposit account prior to the day of failure and funds residing in the HSA Sweep Investment Sub-Account on the day of failure would NOT be considered FDIC-insured deposits but would be secured solely by the mutual fund shares held in the HSA Sweep Investment Sub-Accou...
