Health Savings /

Health Savings Investment Account

Health Savings Accounts (HSA) Investment funds are not deposits, are not FDIC insured or insured by any Federal Government Agency, have no bank Guarantee, and may lose value.

Once your HSA checking account balance reaches $2,500, you are eligible to transfer a portion of your funds into a range of investment options and earn potentially higher, tax-free returns.

Through a strategic partnership with Devenir, the national leader in HSA investment options, Mercantile Bank is offering its HSA account holders the option of investing in several "best in class" mutual funds. The funds cover a variety of nationally recognized fund families and asset classes and are self-managed by the HSA accountholder.*

Features:

  • 24-hour online access to both your investment and checking accounts
  • A variety of nationally recognized mutual funds
  • Free eStatements
  • Ability to transfer funds electronically from your transactional account to your investment account
  • To qualify, account holders must be enrolled in Online Banking and have an active HSA with Mercantile Bank maintaining a minimum of $2,500

Fees: 
The monthly fee for the investment account is $4.25. This fee will be deducted from the HSA Checking with Mercantile Bank. It is required that you leave enough in the HSA Checking to cover this fee, or Mercantile Bank reserves the right to close your investment account.
 

To Apply For Your HSA Investment Account

A Few Things to Know Before Enrolling:

1. You must be enrolled in Online Banking to be eligible for the HSA Investment Account. 
  • Already have Online Banking?  Continue to Step 2.
  • To enroll in Online Banking, click the link below.  You will need your full account number and email. Return to this page after enrolling to setup your HSA Investment Account.
          Enroll in Online Banking

2. Proceed to HSA Investment Account Application below to proceed with the enrollment process. 
  • Your application will take 3-5 business days to process.
  • Once your account is set up, it will appear within your Mercantile Bank online banking profile. Next, select the button below to be redirected to Devenir. Please be sure to review the HSA Investment User Guide for assistance in using the portal.
          Proceed to HSA Investment Account Application
 
Do you need help? Feel free to call us at 800.453.8700. We are available Monday - Friday 8am - 6pm and Saturday 9am - 1pm.
 
*Disclosures:
Account-holders are urged to carefully weigh the advantages and disadvantages of investing HSA funds in the Investment Options versus holding them in their Mercantile Bank HSA Checking Account. Investors should carefully read the Investment Policy together with the prospectus from each mutual fund selected before investing or sending money. These documents provide information regarding investment objectives and risk, as well as charges and expenses which may be imposed for early liquidation of mutual fund investments, etc. There are no guarantees that the Investment Options will make money. Additional contributions cannot be made to an HSA account to replace any losses that result from investing. Please keep all of these factors in mind when considering which account is right for you.
Mercantile Bank is not a registered investment advisor, nor is Mercantile Bank acting in the capacity of a registered investment advisor with respect to the offering of HSA Investment Account Investment Options. The Bank engages the support of Devenir Investment Advisors, LLC, a registered investment advisor and Devenir, LLC, a Broker Dealer member of NASD / SIPC (Collectively "Devenir") to select the HSA Investment Account Investment Options. Devenir screens the Investment Options offered using a number of criteria which include, but are not limited to total fund performance, Morningstar ranking relative to other funds with similar investment objectives, and track record. Devenir periodically reviews the Investment Options, and may recommend changes in the Investment Options being offered if a particular fund no longer meets the selection criteria. Participation in the Investment Options is voluntary. Under no circumstances is Mercantile Bank offering any of the HSA Investment Account Investment Options, and the Bank makes no representations with respect to the Investment Options offered. Mercantile Bank disclaims any and all liability, contingent or otherwise, for the performance of the Investment Options. Please see your financial advisor for personal investment advice.
Investment options are NOT FDIC Insured, May Lose Value and are Not Guaranteed by the Bank.

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