Return to the Household Finances Forum | Post a Follow-Up

 o
US Bank Health Savings Account has the worst customer service!

Posted by paredown (My Page) on
Wed, Aug 12, 09 at 18:41

Like a lot of folks right now we are struggling and have let our HSA account run down. Then my wife read that you can make a one-time transfer from your IRA to your HSA--trustee to trustee. Perfect, she thought--we've had some unexpected medical expenses--mainly my recent bout with Lyme disease.

She contacted our US Bank HSA. "will it be a problem that the next month's fee will put the account $1 and change in the negative for the few days it will take to refund it, since I want to do the maximum transfer from our IRA?" "Oh no, that will be fine" they assured her. (The $3.40 monthly service charge was about to come due.)

Then the fun started--notarized forms, checked everything three times, money left her IRA and then US Bank HSA customer service people started lying to her. When she called to see if the money had arrived she was told variously "it's on hold" and then was told that her HSA account had been closed at the "customer's request."

"Would it make sense for me to close an account that I was about to fund" she asked?

"We'll have to do an investigation," they replied. By email, not directly!!!!

ABSOLUTELY no one had the authority to check directly with the bank, no direct contact was allowed from customer to the bank and the only contact was filtered through some off-shore "Customer dis-Service Center".

Since this was an IRA disbursement the tax implications were grave if there was a screw up & even this was not enough to force them to allow direct contact or get an immediate answer.

(As good luck has it, her IRA trustees called to let her know the money had been returned two days after it was sent.)

Four full business days after she contacted US Bank HSA to see that the transfer had gone through (and 5 days since she had confirmation that it had left her IRA), and many aggravating phone calls, broken promises for returned calls, a flat refusal to let her deal directly with US Bank HSA operations, a flat refusal to provide direct numbers for any of the so-called "supervisors" at the "Customer dis-Service Center" and repeated attempts to claim that she had authorized the account to be closed, the money was 'on hold" etc, etc--the results of the "investigation" have nowbeen reported.

The US Bank HSA account was closed because of a "negative balance." The service charge went through July 31st and they must have closed it instantly--no notification, no warning , no phone call --- and while the transfer was already underway and after she had been assured that the small negative balance for the few days it would take for the wire transfer to complete WOULD NOT BE A PROBLEM!

So if you are thinking about an HSA--go anywhere other than US Bank. In my 50 years of being a sentient consumer I have never witnessed such a colossal customer service disaster.

The final joke--the rep that called to report the results of their "investigation" provided a number at US Bank HSA so we could reopen the account.

When h*ll freezes over was my answer.


Follow-Up Postings:

 o
RE: US Bank Health Savings Account has the worst customer service

US Bank is a business bank, it's not a good bank for individual customers. In a past job, I worked with them daily from a business standpoint and they were great. However, at the same time I had my own personal accounts there and they regularly messed things up. I moved to another bank for personal stuff and have not looked back.

I was living in the Twin Cities during the business relationship period and, since they are based there, I mistakenly assumed that, at worst, I could walk into branches and resolve problems. Heck, we walked across the street to our business rep and resolved things all the time. However, adapting that assumption to the retail side was a big mistake on my part.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Household Finances Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here