I am not sure who you are talking too at First Horizon Msaver but I went with them because my broker felt they had the best 'customer service' and handle on the HSA rules and regulations. Their fee is $2.50 a month which I found to be middle tier when compared to other custodians but they reimburse me for all of my ATM transaction fees and do not charge me for debit transactions, additional cards, and/or checks. Their investment options are not limited to a select family of funds (ie Chase...Chase funds) and their on-line funding option for the accounts makes it very easy for me to fund my employees accounts.

The blues have their own bank but it's still in its infancy.

Local banks and credit unions are just fine and are usually the lowest cost option, but usually fall short on some of the following:

-few or no options for investing
-no dedicated customer service
-limited online banking functions
-fewer tools and education materials
-service options (no 24/7)
also make sure the account is FDIC insured

This is great stuff! Thanks HSAman.