I'd like to emphasize the importance of accurate banking information when using MyHSA. Our platform requires bank details in both the company and employee profiles for distinct purposes:
Company Bank Information: This is accessible through the Plan Administrator portal in the "Settings" tab and is specifically designated for corporate bank details. On scheduled Wednesdays or Fridays following the approval of claim(s), we withdraw claim amounts, admin fees, and taxes, from the corporate account.
Employee Bank Information: This information resides in the 'Settings' tab of the Employee Profile and is tailored for personal direct deposit data. Similarly, on Wednesdays or Fridays, post-claim approval, employees receive their reimbursement via direct deposit to this account.
Ensuring the accuracy of this data is critical for seamless transactions. Here are some valuable tips to maintain the accuracy of this information:
Utilize our OCR Cheque uploader tool (found in your settings tab!).
When entering numbers manually, cross-check against the sample cheque below!
Consider reading the numbers in reverse order (from the last digit to the first) – an effective method for spotting errors, (old accounting trick).
When in doubt, feel free to reach out to support@getmyhsa.com for assistance in verifying the bank information on your accounts. Remember to never send your bank information over live chat!
By working together to make sure the right bank information is uploaded to the right account, we can ensure efficient and smooth transactions for both the company and the employee.