HSA Bank vs Saturna Capital
2026 side-by-side comparison of fees, investment options, and features.
HSA Bank
HSA Bank is a division of Webster Bank and one of the largest HSA administrators. They're known for their TD Ameritrade (now Schwab) brokerage integration, giving investors access to stocks, ETFs, and thousands of mutual funds.
Saturna Capital
Saturna Capital offers a unique HSA with no fees for investing in their own mutual funds, including socially responsible and Islamic-compliant (Shifa) options. Their Pershing brokerage account provides full access to stocks, ETFs, and other investments.
Quick Verdict
Choose HSA Bank if...
Investors who want TD Ameritrade/Schwab brokerage access through their employer
Choose Saturna Capital if...
Investors who want Saturna funds or Islamic-compliant (Shifa) HSA options
Feature Comparison
| Feature | HSA Bank | Saturna Capital |
|---|---|---|
| Monthly Fee | $2.50 (waived at $5,000+ balance) | $0 (for Saturna funds) |
| Investment Minimum | $1,000 | $500 |
| Investment Options | TD Ameritrade self-directed brokerage, Devenir mutual funds | Saturna mutual funds (no fee), or full brokerage via Pershing |
| Interest Rate | 0.01%–0.08% APY (tiered) | N/A (investment-focused) |
| Account Type | bank | brokerage |
| FDIC Insured | Yes | No |
| Mobile App | Yes | Yes |
| Debit Card | Yes | Yes |
HSA Bank
Pros
- TD Ameritrade brokerage with $0 stock/ETF trades
- Access to 13,000+ mutual funds
- Low-cost Devenir option (0.30% annual fee, capped at $50K)
- 2nd lowest cost among top HSA providers
- Strong employer partnerships
Cons
- $2.50/month fee below $5,000
- $1,000 minimum before investing
- TD Ameritrade now part of Schwab (transition ongoing)
- Low interest on cash deposits
Saturna Capital
Pros
- No fees for investing in Saturna mutual funds
- Full brokerage through Pershing (stocks, ETFs, bonds)
- Shifa HSA option for Islamic-compliant investing
- Morningstar "above average" rating
- Great for socially responsible investors
Cons
- 0.30% annual fee for non-Saturna funds
- Smaller provider - less name recognition
- Not FDIC insured (SIPC protected)
- Commission fees for trading non-NTF funds
Provider Details
HSA Bank
HSA Bank is a division of Webster Bank and one of the largest HSA administrators. They're known for their TD Ameritrade (now Schwab) brokerage integration, giving investors access to stocks, ETFs, and thousands of mutual funds.
Monthly Fee
$2.50 (waived at $5,000+ balance)
Investment Minimum
$1,000
Investment Options
TD Ameritrade self-directed brokerage, Devenir mutual funds
Best For
Investors who want TD Ameritrade/Schwab brokerage access through their employer
Saturna Capital
Saturna Capital offers a unique HSA with no fees for investing in their own mutual funds, including socially responsible and Islamic-compliant (Shifa) options. Their Pershing brokerage account provides full access to stocks, ETFs, and other investments.
Monthly Fee
$0 (for Saturna funds)
Investment Minimum
$500
Investment Options
Saturna mutual funds (no fee), or full brokerage via Pershing
Best For
Investors who want Saturna funds or Islamic-compliant (Shifa) HSA options
Frequently Asked Questions
Which has lower fees, HSA Bank or Saturna Capital?
HSA Bank charges $2.50 (waived at $5,000+ balance) per month, while Saturna Capital charges $0 (for Saturna funds). Compare total costs including investment fees before deciding.
Which has better investment options?
HSA Bank offers TD Ameritrade self-directed brokerage, Devenir mutual funds. Saturna Capital offers Saturna mutual funds (no fee), or full brokerage via Pershing. The best choice depends on your investment style and preferences.
Is my money FDIC insured with HSA Bank or Saturna Capital?
HSA Bank offers FDIC insurance on cash deposits. Saturna Capital does not offer FDIC insurance, but invested funds may have SIPC protection.
Can I transfer my HSA from HSA Bank to Saturna Capital?
Yes, you can transfer your HSA funds between any HSA providers. Most transfers take 2-4 weeks. Check with both HSA Bank and Saturna Capital for any transfer fees - incoming transfers are usually free, but outgoing transfers may incur a fee.
Which HSA is better for long-term investing?
For long-term investing, consider Saturna Capital with $500 investment minimum. HSA Bank is investors who want td ameritrade/schwab brokerage access through their employer. Saturna Capital is investors who want saturna funds or islamic-compliant (shifa) hsa options. Both can work well for building retirement health savings.
Does HSA Trackr work with HSA Bank and Saturna Capital?
Yes, HSA Trackr works with any HSA provider including both HSA Bank and Saturna Capital. Track your medical expenses, store receipts, and know exactly how much you can reimburse tax-free - regardless of which HSA you choose.
Related Comparisons
This comparison is for informational purposes only. HSA provider features and fees may change. Verify current information directly with each provider before opening an account.
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