Your company’s bank account must be connected and verified by confirming a pre-note amount before funds can be pulled from that account. There are two ways to connect a bank account with HealthEquity. You can either connect a bank account directly to the employer portal, or you can fill out and submit a form.
📄 Who this article is for | Employers with HealthEquity HSA & RA accounts |
🔐 Permissions needed | Manage Company Info |
Connect a bank account through the employer portal
Login to the Employer Portal and go to the EFT Information page by selecting Company Detail > EFT Info
Fill out the EFT (Electronic Funds Transfer) account details including your company’s bank routing number, bank info, etc.
Click ‘Authorize’ to submit
A small pre-note deposit will be sent to the account within 1 – 2 business days
You can locate the deposit amount by checking your company’s bank account. You will need this deposit amount to verify your account with HealthEquity.
Once you have the deposit amount, login to the Employer Portal
Click the ‘Verify Now’ link in the verification banner (image shown below)
Or you can go directly to the EFT Information page and click ‘Verify’
Enter the amount that was deposited into your company’s bank account into the ‘Deposit Amount’ box
Note, this deposit will only be reversed if requested
Use the check boxes to designate this account as the default account for HSA contributions, and/or set it to auto-pay for fees
Use the ‘Verify’ button to complete the verification and save your account settings
Only use the ‘Update’ button only if you are changing the reference name for the bank account
Click ‘OK’ in the confirmation popup
Now that your company’s bank account has been added and verified, funds can be pulled from that bank account.
📝 NOTE: If you set a bank account as the default for HSA contributions, this does not automate HSA contributions. If you set the account to auto pay for fee invoices, all fee invoices moving forward will auto debit from that bank account. Any current or past due fee invoices on your portal will not auto pay. You will need to pay those manually.
Connect a bank account by submitting an EFT form
Login to the Employer Portal and go to Resources > Resource Documents
Open the Employer HSA Electronic Funds Transfer Form
Fill out the required information and save the form for submission
You will need to submit a voided check with the form
If a voided check is unavailable, the routing and account number can be provided on bank letterhead.
Upload the completed form along with supporting documentation by going to Ask Question/Upload Document
HealthEquity may be in touch with you to help complete the EFT process.
Originator ID
Some banks may require an originator ID in order to complete the EFT setup. If you've had an ACH rejection you may need to give your bank the HealthEquity originator ID: 1522383166.