BenefitWallet - Hidden fees on Investment Accounts (There is no point to have then unless you have >$30K)
Be aware that if you set up an investment account to invest your HSA money they clearly disclose the 50 bps or whatever the fund charges but there is also a $15/mo fee just to have any investments at all. Which means even if you have say $4000 invested, this is 4.5% fees which is EXTREMELY high.
There is no point to have any investments at all. Then they pay no interest on the other account, which is also a scam, because other basic deposit accounts pay something.
Product or Service Mentioned: Benefitwallet Flexible Spending Account.
Reason of review: Pricing issue.
Monetary Loss: $500.
Preferred solution: Price reduction.