Med-I-Bank, Inc.

Financial Services82% confidence

Med-I-Bank, Inc. (doing business as MBI) is a healthcare-focused payment processor that administers electronic benefit payment cards and settlement transactions for employee health and reimbursement accounts. The descriptor “MBI SETL” on statements typically refers to a Med-I-Bank settlement related to medical or benefits payments.

Waltham, Massachusetts, United States
Owned by Metavante Corporation (now part of FIS)

About Med-I-Bank, Inc.

Med-I-Bank, Inc. (often branded simply as MBI) is a payment processor that specializes in electronic payments for healthcare and employee benefit programs. It is known for issuing and operating the MBI Benefits Card, a debit-style card that lets employees pay eligible medical, dental, vision, and transit expenses directly from flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs), and similar employer-sponsored benefit plans. Med-I-Bank’s systems handle authorization, settlement, and substantiation of these card transactions for employers, third-party administrators, and health plans.([cbinsights.com](https://www.cbinsights.com/company/med-i-bank-1?utm_source=openai))

On bank or card statements, Med-I-Bank activity commonly appears as “MBI SETL” (short for “MBI Settlement”), sometimes followed by the name of an employer, benefits administrator, or healthcare provider. These entries usually represent settlement of benefit card transactions, escrow or reimbursement activity, insurance-related payments, or other healthcare-benefit disbursements and adjustments tied to your pre-tax or post-tax benefit accounts. In many cases, MBI SETL will show up when your MBI Benefits Card has been used to pay a provider, when reimbursements are issued from your account, or when periodic premium or contribution-related movements are processed.([mybankstatementanalysis.com](https://mybankstatementanalysis.com/blog/mbi-setl-on-bank-statement?utm_source=openai))

If you have an unfamiliar MBI SETL 7100028 (or similar) entry, the best first step is to check any benefit card or healthcare debit card you use at medical offices, pharmacies, or for FSA/HRA/HSA expenses and review recent claims or reimbursements from your employer’s benefits portal. The plan administrator’s name and a support number are typically printed on the front or back of the card, and they can confirm which transaction produced the MBI SETL entry. If you still cannot match the amount to a known medical bill, insurance claim, or benefits reimbursement, contact your bank to obtain more detail on the originating company and, if needed, open a dispute within the time frame shown in your cardholder agreement.

Bank Statement Variations

1 known variations

These are the raw merchant codes that appear on bank and credit card statements that we've identified as belonging to Med-I-Bank, Inc..

  1. Mbi Setl 7100028

Frequently Asked Questions

Why do I see an “MBI SETL 7100xxx” transaction on my bank or card statement?

An “MBI SETL” entry (such as MBI SETL 7100028) generally indicates a settlement processed by Med-I-Bank for a healthcare or employee benefits transaction, such as an MBI Benefits Card purchase at a medical provider, a reimbursement from an FSA/HRA/HSA, or a premium- or claim-related adjustment. To identify it, match the date and amount to recent medical bills, pharmacy purchases, or reimbursements shown in your benefits portal.([mybankstatementanalysis.com](https://mybankstatementanalysis.com/blog/mbi-setl-on-bank-statement?utm_source=openai))

Is an MBI SETL charge or credit related to Probiller or online entertainment sites?

No. Although the letters “MBI” also appear in descriptors like “MBI*PROBILLER.COM,” those are unrelated adult-subscription billing processors. “MBI SETL” is specifically used for Med-I-Bank settlement activity tied to healthcare and employee benefit payments, not digital entertainment subscriptions. If your descriptor includes “PROBILLER” by name, that is a different merchant altogether.([emma-app.com](https://emma-app.com/who-charged-me/probiller?utm_source=openai))

Could an MBI SETL entry be a refund or reimbursement instead of a charge?

Yes. MBI SETL can appear either as a debit (money leaving your account) or as a credit (money deposited). Debits often represent benefit card payments, premium collections, or funding of an FSA/HRA/HSA, while credits usually reflect reimbursements, escrow or surplus refunds, or adjustments after a claim is processed. Check whether the entry is listed as a credit or debit and compare it to your recent benefit reimbursements.([mybankstatementanalysis.com](https://mybankstatementanalysis.com/blog/mbi-setl-on-bank-statement?utm_source=openai))

How can I verify exactly which benefit or medical transaction created an MBI SETL entry?

Start by logging into your employer’s benefits or FSA/HRA/HSA portal and reviewing recent card swipes, reimbursements, and claim payments around the same date and amount as the MBI SETL entry. If you use an MBI Benefits Card, the plan administrator name and contact number on the card can also look up the transaction in their system. As a last step, your bank can provide additional transaction detail (such as the full originator name) if you still cannot match it.([hr.brazoscountytx.gov](https://hr.brazoscountytx.gov/sites/default/files/inline-files/Med-I-Bank%20Policies%20and%20Procedures%20-%20Updated%20October%202020.pdf?utm_source=openai))

Can I stop or cancel future MBI SETL debits from my account?

If MBI SETL debits are tied to ongoing premium payments or scheduled contributions to a benefits account, you must change or cancel those authorizations through the benefits administrator, HR department, or insurer that set them up—not directly through Med-I-Bank. Update or revoke your debit authorization in your benefits paperwork or online portal, and then confirm that no future debits are scheduled. If unauthorized debits continue, contact your bank to block the originator and file a dispute.([cfajournal.org](https://www.cfajournal.org/mbi-setl-charge-on-your-bank-statement/?utm_source=openai))

What should I do if I don’t recognize an MBI SETL transaction at all?

First, confirm whether you or a family member on your plan recently used any health benefits, FSA/HRA/HSA funds, or an MBI-branded benefits card. If nobody recognizes the transaction, call the benefits administrator shown on your card or in your plan materials and ask them to search for the specific amount and date. If they cannot locate it and you suspect fraud, immediately contact your bank or card issuer to report the transaction and request a provisional credit while they investigate.([mybankstatementanalysis.com](https://mybankstatementanalysis.com/blog/mbi-setl-on-bank-statement?utm_source=openai))

Does MBI SETL ever place small test or authorization amounts on my account?

Yes, like other payment processors, Med-I-Bank–related systems can generate small temporary authorizations or test transactions when a new benefits card or bank account is first used or verified. These are typically small amounts that either disappear or are reversed within a few days. If such a test doesn’t clear or turns into a posted charge you don’t recognize, contact your benefits administrator or bank to confirm its purpose and request a correction if needed.([cfajournal.org](https://www.cfajournal.org/mbi-setl-charge-on-your-bank-statement/?utm_source=openai))

Who ultimately owns Med-I-Bank and the MBI Benefits platform today?

Med-I-Bank, Inc. and its MBI Benefits business were acquired by Metavante Corporation, which integrated MBI’s healthcare-benefits payment platform into its broader health and financial technology offerings. Metavante itself later became part of FIS, a large global payments and banking-technology provider, so the underlying platform may now operate within that corporate family even though the MBI branding still appears on cards and settlement descriptors.([americanbanker.com](https://www.americanbanker.com/news/metavante-buying-health-payment-processing-firm?utm_source=openai))

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