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Why myHSA asks for Corporate Bank information - and How we Keep it Safe
Why myHSA asks for Corporate Bank information - and How we Keep it Safe
Danielle Constantine avatar
Written by Danielle Constantine
Updated today

As a Plan Administrator, you play a crucial role in ensuring that your employees receive their health and wellness reimbursements quickly and securely. At myHSA, we prioritize efficiency, accuracy, and trust—eliminating the need for outdated cheque processing and ensuring direct deposit reimbursements within days of claim approval.

We understand that providing corporate banking information is a significant step, and we want to assure you that myHSA is committed to the highest security standards to protect your data.

How We Safeguard Your Banking Information

  1. Encrypted Data Protection – Your bank information is encrypted and stored securely in Canada. We are SOC 2 Certified and follow ISO security policies, ensuring compliance with industry-leading standards.

  2. Restricted Access & Verification Measures – Our platform has built-in protections:

    • Banking details are displayed with asterisks for privacy.

    • To view or edit bank information, users must verify their identity through multi-factor authentication

    • You will receive an email notification anytime banking information is updated.

    • Our support team follows strict security protocols, including verifying multiple security questions before discussing banking details.

    • Live chat is not used for banking information exchanges to prevent unauthorized access.

  3. Automated Entry for Accuracy – To eliminate manual errors, we offer:

    • OCR Cheque Upload – Simply upload a void cheque, and our Optical Character Recognition (OCR) tool will extract and enter the bank details automatically.

    • Manual Entry with Guided Support – If you prefer to enter details manually, we provide a step-by-step guide on how to read and enter banking information correctly.

  4. Support When You Need It – If you ever have concerns or want a second set of eyes to confirm that your bank information is correct, our team is here to help. You can email support@getmyhsa.com for assistance at any time.

Best Practices for Protecting Your Corporate Bank Information

To further safeguard your company’s banking details, we recommend:

Never sharing login credentials with unauthorized users.
Avoid sending bank details over live chat—always use a secure email and send to support@getmyhsa.com if you need us to help you update it!
Reviewing bank information on your company profile

We know security is a top priority when sharing secure information. If you have any questions about how we protect your corporate banking information, don’t hesitate to reach out. Our team is happy to provide further details on our security measures and best practices.

Contact us at support@getmyhsa.com for any assistance!

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