BPAS Reviews 29

I have never had to deal with a company like this! First they held up my money for months in my HSA because the system wouldn’t let me accept their terms.Finally after a few months they mailed it to me and got it fixed. I called today because I need to know my balance that remains and she wouldn’t give it to me because I didn’t know the HR name of the former company I used to work for. That company sold us awhile back. I had all my info and card in hand and she still refused over an HR name! How am I supposed to know what company ran HR back then. She wanted me to call the facility I no longer work for to ask the new payroll person what a former company HR name was. Ridiculous! It’s my money and I have a right to know if I had a balance. I finally figured out my info on the computer and it was a measly $14 that remains. Wow!

The fees are OUTRAGEOUS - and their customer service is very poor and the prompts send you into loops. I was so shocked to spend 3 week and over $150 to transfer $300 to another institution. AND - it was the other institution that gave me assistance NOT BPAS....DO NOT USE THEM...

Awful support, they won't send funds to other companies because they are trying to scam you. They ask you your date of birth and then how old you are. They are not bright.

I had requested fund transfer of all funds from my previous compies 401K into my new 401K. This did not happen as the plan's policy had moved my funds from 401K to an IRA. Just so happens the IRA fees on that policy transfer are more than the money being made, so basically they fee-ed my account to death (the average fee over the past 10 years is 11.5x how much I made in interest). I recently moved and got a notification in the mail about this account. In trying to salvage the little bit left was told they can not even get the remaining funds distributed as their fee to distribute ($75) is $5 more than what is left in the account. So they get to keep what is left until the balance is zero... They are more interested in their bottom line than their customers as in my discussion with them the response what that it was my responsibility and not their fault.

One thing you can be sure of. Whatever documents you provide to access your own VEBA, they will not be correct per BPAS.

This is hands down the worse company I've ever dealt with. I've been dealing with trying to cash out my IRA from my old company. Principal told me this company had been sent a check with my money and they had the funds. I called BPAS on August 25th to see if they had started my new IRA account or if they had my funds. After giving them all of the my information the women told me they had no trace of my account in their system and principal still has the money. After calling principal for 2 weeks I finally was told that BPAS had actually cashed the check and they have the money. So I called back again 2-3 weeks later(September 8th) to have my phone call answer by one of the most useless customer service representative I've ever dealt with. After arguing and explaining to her the situation she threatens to hang up on me. Then, Magically my account and information appeared and I was told I had to create a account. Unlike any other modern company, it takes 3 business days to setup/process a login in lmao. After my account was setup (3 business days, 5 normal days later) I called back today(September 14th) to finally find out how to get my money. I'm now told after submitting the form online that I have to wait 5-7 business for them to process a 1 page form. I mean I'd understand if the form was 20-30 pages. IT IS 1 PAGE! Here's the final straw for me, after waiting another 5-7 business days for them to process the 1 page distribution request, they wont send it electronically through direct deposit like every single other company in today's age. It takes them another 5-10 business days to put the check in the mail. I've been waiting on this money for over a month now. the fact this is going to take 2 months from start to finish is a absolute joke. How is this company even in business ? Do they have a competent management??? Look at all of the reviews with people having the same issue. Pathetic excuse for a 401k company. I have bills to pay, and the customer service/whole company could give 2 craps about the consumer, they make it nearly impossible to find out how to get your money or if they even have it!