Optum Bank, Inc.
Optum Bank, Inc. is headquartered in Salt Lake City and is the 11th largest bank in the state of Utah. It is also the 189th largest bank in the nation. It was established in 2003 and as of June of 2016, it had grown to 33 employees at 1 location. Optum Bank, Inc. has an A+ health rating.
Go Elsewhere With Your HSA
I would rate this place zero star if the site lets me. Horrible service, unintuitive website, and charges closing fees to transfer the balance. I hope my new HSA bank will be better than this. But the bar is so low I can imagine I could not get better services.
This Bank Can Not Be Trusted
I have some issues with my health saving account. The customer service line has been called to get things corrected. Well, one thing was heard over the phone and entirely different thing seen over my online account. I find it extremely hard to believe they care about anything I have to say about my account. They reassured me that error has been corrected and their website may have a lag of 2-3 days to reflect that change. While it has been over 10 days, nothing has been changed online. Who do I really believe?? If I had other option, I would never choose this place for my HSA.
Optum Health Bank Gives Away A Customers $10832.45 To Someone The Don't Know
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.
John Lahm
410 493 7191
Poor Service
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.
Data as of Q2 2016
Learn more about bank healthHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57408 |
| Year Established | 2003 |
| Employees | 33 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.56% |
| Return on Equity - YTD | 13.48% |
| Annual Interest Income | $56.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2016vs Q2 2015 | $5.48B$3.91B |
| Loans | Q2 2016vs Q2 2015 | $457.3MM$350.8MM |
| Deposits | Q2 2016vs Q2 2015 | $4.16B$3.00B |
| Equity Capital | Q2 2016vs Q2 2015 | $841.7MM$378.2MM |
| Loan Loss Allowance | Q2 2016vs Q2 2015 | $5.0MM$3.7MM |
| Unbacked Noncurrent Loans | Q2 2016vs Q2 2015 | $2.0MM$675.00K |
| Real Estate Owned | Q2 2016vs Q2 2015 | $0$0 |
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| Optum Bank, Inc. Locations | ||
|---|---|---|
| Optumhealth Bank, Inc. | 2525 Lake Park Boulevard, Suite 110 | Salt Lake City, UT 84120 |