Health Savings Accounts - HSA Debit Card

For your convenience, the Bank of Geneva provides you with an HSA Debit Card which may be used to make your HSA related purchase. The Bank of Geneva HSA Debit Card is accepted at merchant locations displaying the MasterCard® logo. Purchase amounts are automatically deducted from your HSA account. Think of it as an electronic check. The debit card saves you time at the merchant’s cash register, and the entry is recorded on the monthly statement.¹ It is as simple as swiping a card and pressing a button.

The Bank of Geneva simplifies your HSA budgeting. The date, place and amount of your debit card purchases will appear on your periodic account statement.  You may also have recurring monthly expenses automatically billed to your debit card, giving you control over your budget without relying on a credit card or possibly incurring interest charges.

There is a $1,000.00 limit per day at point-of-sale on the HSA debit card.

The above information is provided with the understanding that Bank of Geneva is not engaged in rendering tax advice.  For more detailed information, please refer to IRS Publication 502 titled “Medical and Dental Expenses”, Catalog Number 15002Q.  Publications can be ordered from the IRS by calling 1-800-TAX-FORM (1-800-829-3676), or viewed, printed or downloaded in PDF format (Please refer to http://www.irs.gov/pub/irs-pdf/p502.pdf).  If tax advice is required, seek the services of a competent professional.

• Deposit accounts at the Bank of Geneva are insured by the Federal Deposit Insurance Corporation (FDIC).

• Request a Truth-in-Savings disclosure for further details on this account.