Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #11033391
Complaint Overview
Complaint ID: 11033391
Company: Webster Bank, National Association
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
State: Virginia
ZIP Code: 20147
Date Received: 2024-12-04T12:00:00-05:00
Date Sent to Company: 2024-12-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I would like to formally raise a legal argument regarding HSA Bank 's refusal to transfer my HSA funds to my HSA account at XXXX XXXX. On XX/XX/year>, I submitted an HSA Rollover request at XXXX to transfer funds from my HSA Bank account. XXXX initiated the process and provided all necessary paperwork to HSA Bank to facilitate an in-kind HSA fund transfer. Despite this, HSA Bank took no action and later informed me via mail that my funds were invested in XXXX, preventing them from proceeding with the transfer. Following this, I contacted HSA support, instructing them to transfer the invested funds to HSA Bank. Despite my efforts, and all funds transferred in case, HSA Bank failed to act again. Upon further inquiry, I was told that a new request was required because the initial submission did not involve cash. I questioned the necessity of a new request, as the original request clearly outlined the transfer instructions and merely required HSA Bank to utilize Fidelitys HSA account to initiate the transfer. This redundant requirement seems unreasonable, unjustified, and a cause for further delaysthe first request has already taken 25 days. Additionally, when I asked to close my account and issue a check, my request was denied. Furthermore, HSA Bank continues to charge me an account maintenance fee, despite my ongoing efforts to transfer the funds and close the account. As the rightful owner of the account and funds at HSA Bank, I find their actions to be a violation of my rights and a form of asset withholding. This behavior constitutes an unlawful obstruction of access to my own assets, which could be classified as theft. I demand immediate resolution and compliance with my original transfer request, or a thorough explanation and legal justification for the refusal and imposed delays. Thank you for your attention to this matter.
Frequently Asked Questions
What is Complaint #11033391 about?
Complaint #11033391 was filed against Webster Bank, National Association regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2024-12-04T12:00:00-05:00.
How did Webster Bank, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Webster Bank, National Association?
Yes, visit the Webster Bank, National Association company profile at readthecomplaint.com/company/webster-bank-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.