No. Lively is not a bank. Lively partners with financial institutions to take care of the depository responsibilities, meaning the funds in your HSA are safely held and insured to the maximum, which is currently $250,000. The financial institution where your funds are deposited is determined at Lively's discretion.
Updated:Other articles in this section:
- Locking and Unlocking Your Card(s) FAQs
- Mobile push notifications for card transactions
- Communication Preferences
- Letter of Medical Necessity (LMN) FAQ
- TPA Stream Overview
- Does Lively offer a high yield savings account?
- Who is an authorized user?
- What is the standard interest rate for a Lively HSA?
- How do I submit FSA claims for reimbursement?
- What do I do if my FSA was suspended?