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Health Advantage Account Suite

HSA Transfer Guide

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HSA Transfer Guide

IntroductionIn an effort to prepare all parties involved for a successful bulk transfer of funds to Optum BankSM, Member FDIC, this Health Savings Account Transfer Guide was established. Optum Bank strongly recommends a teleconference between the existing HSA Trustee, the Employer and Optum’s operations team in order to review the information provided in this guide and to confirm file format, file naming convention and appropriate contacts.

As illustrated below, the bulk funds transfer process from an existing HSA Trustee to Optum Bank follows a simple process:

Work with your current HSA trustee to identify their transfer requirements. (e.g. required forms, authorization, etc.)

Optum sends a confirmation email of valid active accounts within one business day to documented contacts.

2 Current HSA Trustee sendsOptum a Transfer Allocation file indicating funding to be made at the employee level.

Current HSA Trustee transfers applicable HSA funds via a lump sum ACH or Wire.

Optum will contact the employer and/or Trustee with discrepancies within one business day of receipt of ACH or Wire funds.

Optum validates Transfer Allocation file.

Optum posts transferred funds to all applicable open accounts.

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HSA Transfer Guide

Introduction cont.ACH and Wire funds are posted to accounts on the same day if received prior to 3pm EST. If more funds are received than expected, the file will be processed and the excess funds will be returned to the previous HSA Trustee via check. If the amount of funding is less than the expected amount, a member of the transfer team will get in touch with the designated contact at the current HSA Trustee and the file will not be processed.

Sending a Transfer Allocation file in the correct format is important for prompt processing. See the “Field Format Instructions” section of this guide for detailed instructions. The Transfer Allocation file includes the social security number and amount of transfer. Sending a Transfer Allocation file with errors may cause file processing to be delayed and/or the funds to not be applied properly.

Important note:A consistent company title should be applied in both the Transfer Allocation file and when naming the ACH or Wire on the funding transmission. As such, when sending ACH or Wire funds, the current HSA Trustee should indicate the Employer name in the description field. An inability to match funds received with the Transfer Allocation file may cause a delay in processing.

Important note:Both a Transfer Allocation file and the transfer funds must be received in order for funds to be posted to the applicable HSAs.

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HSA Transfer Guide

Format InstructionsFile format instructions:Transfer Allocation files can be sent in an Excel format. Any other format will result in an inaccurate or failed transaction. A record is required for each transfer. The very first record will contain text headings that describe the data being submitted.

Field Format Instructions:There are two fields in the HSA Trustee to Optum Bank Transfer Allocation file that are required by Optum Bank. All fields (Social Security Number and Transfer Amount) must be populated and formatted according to the instructions below for each transaction. Incorrect formats or the failure to include any of the required fields may result in a failure to process the file. Negative or zero values cannot be accepted in the file.

Specific field instructions are described in the table below:

Column 1 2

Field header Social security number Transfer amount

FormatNumeric field of nine digits

No spaces before or after the

header text

$999999999.99

No spaces before or after the header text

Length Nine digits Up to 12 (including decimal)

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HSA Transfer Guide

Format Instructions cont.

Use Transfer Allocation File Naming Convention The transfer allocation file should be saved in an Excel format using the naming convention below:

Transfer_<EmployerName_Wire(or ACH)_<FundsSendDate in mmddyyyy format>.XLSX

The following example illustrates the correct appearance of a transfer allocation file from the Valley Toy Company, sent with an anticipated wire date of January 20, 2015.

Transfer_ValleyToy_Wire_01202015.XLSX

The file name should not contain any spaces. Transfer allocation files that do not follow this naming convention may be returned, delayed or inaccurately processed.

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HSA Transfer Guide

Sending Your ACH and Wire Transfer Files

Once you have created your Transfer Allocation file listing the transfer amount for each employee, send the file via secure email to cdhservices@optumhealthfinancial.com for processing.

Upon receipt of your file, Optum will respond via secure email with a validation of the amount to be sent.

If there is a discrepancy between the amount intended to be sent and what is confirmed, an error report showing which social security numbers were not ready for funding will be included in the email as an attachment.

Important note:If the file fails due to a formatting error, the entire file will be rejected and re-submission is required.

HSA Transfer Guide

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Optum® is a registered trademark of Optum, Inc. in the U.S. and other jurisdictions. All other brand or product names are the property of their respective owners. Because we are continuously improving our products and services, Optum reserves the right to change specifications without prior notice. Optum is an equal opportunity employer.

© 2016 Optum, Inc. All rights reserved. WF221130 08/16

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Sending Your ACH and Wire Transfer Files cont.

The validation email will include the routing information for the originating bank to use to send the funds. Upon receipt of the validation email from Optum Bank, the ACH or Wire can be initiated. Within one business day of receipt of funds, Optum Bank will post the funds to the accounts as indicated in the allocation file or will contact the Employer regarding any discrepancies. Please be aware that it may take up to 48 hours for funds to be processed and transmitted between banks. Please consult your bank to determine the timing for ACH and Wire transmissions.

ACH Origination Instructions:

Account Name:

ACH Amount:

ABA / Routing Number:

Addenda Record / Memo:

Account Number:

Bank Address:

Wire Origination Instructions:

Account Name:

ACH Amount:

ABA / Routing Number:

Addenda Record / Memo:

Account Number:

Bank Address:

Bell State Bank & Trust

<$Amount>

091310521

Group Name

600112361

Bell State Bank & Trust

3100 13th Ave S.

Fargo, ND 58103

Bell State Bank & Trust

<$Amount>

091310521

Group Name

600112361

Bell State Bank & Trust

3100 13th Ave S.

Fargo, ND 58103