Optum Bank, Inc. is headquartered in Salt Lake City and is the 13st largest bank in the state of Utah. It is also the 259th largest bank in the nation. It was established in 2003 and as of December of 2013, it had grown to 94 employees at 1 location. Optum Bank, Inc.'s savings rates are 15% higher than the national average, and it has a A health rating.
From March 3 2013 thru March 28 2013 Optum Health Bank released $10832.45 out of my Health Savings Account
to foreign companies with out my authorization for purchases made by someone who they don't know. I only became aware of this on 01/31/2013 when I called them about the 1099-SA I received in the mail that showed $8826.70 was distributed out of my account. The customer service agent I reached at the number on the back of my Savings Card directed me to Optum Health Bank's web site and had me create an account so that I could look at the Statements on line.This was my first time on the site and my first time looking at transaction statements. I'm so upset
with this Bank for its negligence and the lack of concern for my welfare.The rest of the facts concerning this crime and
Optum Health Banks response to it will be on going and I will be posting my story everywhere possible.The word needs to get out that this Bank has no clue about fraud prevention , security of deposits and customer service. When any resonable person who looks at these 91 transactions in 19 days over 3500 miles away from my home in foreign countries for non medical purchases red lights should have been flashing in thier fraud department.The rest of this story will come after I hear from thier Fraud Department.
410 493 7191
I have been with OptumHealth Bank for over 3 years, and the service has been consistently bad. The ONLY reason I have an account there is because it is the only provider offered by my employer for our HSA plan. The account reps I experienced have been in-flexible and treated me as if I owed them for handling my account. The reps I dealt with also had poor knowledge about their product. When I made an extra year-end contribution to my plan they hold held my funds (about $3,000) to the maximum extent allowed by law, even though the funds had cleared my sending bank. This bank also charges heavily for all activities: $3.00 per month service charge; $20.00 for an outbound transfer from your account to another financial institution; etc...additionally, a full listing of the fees are not available on their web site. Clearly this bank knows the tax benefit to an HSA is greater than their charges, and as a result they appear to overcharge and under-invest in quality service. I would never bank here if I didn't have too.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Optum Bank, Inc. had $130,000 in non-current loans and owned real-estate with $284.87 million in equity and loan loss allowances on hand to cover it. This gives Optum Bank, Inc. a Texas Ratio of 0.05% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
In the past year, Optum Bank, Inc. has increased its total deposits by $449.07 million, resulting in 26.12% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Optum Bank, Inc. has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Optum Bank, Inc. has $2.93 billion in assets with $284.87 million in equity, resulting in a capitalization level of 9.73%, which is above average.
|FDIC Certificate #||57408|
|Assets and Liabilities|
|Equity Capital||$281.46 million|
|Loan Loss Allowance||$3.41 million|
|Unbacked Noncurrent Loans||$130,000|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|Equity Capital||$310.74 million|
|Loan Loss Allowance||$2.47 million|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||2.64%|
|Return on Assets||2.39%|
|Return on Equity||20.76%|
|Interest Income||$75.18 million|
Always verify rates and promotions with the bank or credit union. We are not Optum Bank, Inc., we are a rate comparison website and can not provide official rates or promotions.
|0.60%||$15k||-||Health Savings Account (HSA)|
|Optum Bank, Inc. Locations|
|Optumhealth Bank, Inc.||2525 Lake Park Boulevard, Suite 110||Salt Lake City, UT 84120|