Reviews
Just beginning to research what others are saying about this company. I don't deal with this co much, but my experiences not good, especially the most recent one. I am thus not surprised to read so many uncomplimentary reviews about BPAS.
Their reps are very rude and condescending. This place takes forever to process anything for a 401k distribution. They will not do direct deposit and they will not send checks directly to your IRA. They are taking forever to process my distribution and snail mail it. I sent in my paperwork on jan 6th and still don't have my money or check for my IRA. Because they refuse to get a grip and join the rest of us in 2022 technology wise, it takes forever to get anything done. I had a 401k at another company and my distribution was complete within 2 days and direct deposited to my accounts as requested.
Been trying to liquidate an account since November 22nd, 2017 after I received notice it would roll into an IRA. Company hasn't been able to deliver to address on profile originally, updated address on 12/28/17 after multiple failures getting to my address. Now it's 1/11/18 and I had to call once again to figure out why I haven't received payment. Gentleman on the phone had an attitude with me when I got annoyed that despite documentation sent to them to change my address - they still sent it to the old address. We will be going almost two months without receiving anything. I am glad I do not have to utilize this company for investment options anymore.
Disappointing experiences working with this company, as starting with a relatively small retirement account, rolling over to a new retirement account with a different provider was met with fees, a lost check and a $150 fee for cancelling and reissuing a check. When we declined to have a new check issued the account was eventually automatically converted to an IRA account, from $150 initial deposit there is only about $48 left after a year of fees. Not enough to pay the account closure fee, so it's a lost cause now.
Trying to use the VEBA card to pay for medical expenses is the absolute worst experience. I would rather pay tax than deal with an account that locks itself after every purchase. I love spending a half hour tracking down that I need to submit a prescription receipt for $4 to make sure my card can pay for my kids and my ER visit. Not to mention they will lock your account because they can't remember who your dependents are. The system has to change, it's a joke.
Miserable service; long waits, stone-walling, huge pdf forms...No real help when trying to roll over which most people will need to do at some point. I had the same problem as another reviewer. When I accepted a new job, I moved....they wouldn't accept that I received the forms when they were mailed to the address on file and they ended up in my hands because I had MY MAIL FORWARDED. USPS Credit Card $1.00 forwarding is a legal paper trail with a federal offense if messed with. Still NO HELP.
Took 42 minutes to reach the correct department to close my hsa with a small balance from a previous employer. Their automated system is atrocious. Their "press 0 for a customer service representative" brings you back to the start of the automated message. Hopefully my request is completed
Terrible company I’ve called multiple times about a payment check that was sent out but I never received it. After three almost four months I still haven’t received any new information or updates as to why I haven’t received my money and I’ve canceled and had two checks resent out. You shouldn’t trust this company with any of your information let alone your retirement there very unprofessional and have little to no care about there customers. If you see this I strongly recommend you reconsider using bpas for anything..
I've dealt with alot of TPAs in my lengthy finance career, and BPAS is the least responsive I've ever worked with. I can't recommend strongly enough that you choose someone else. Consider yourself warned.
Very disappointed. I was taken advantage of during this pandemic and I could lose my home as a result of not receiving the information needed in order to make an informed decision. Public beware!
