Checking or savings account -- Managing an account -- Complaint #5140182
Complaint Overview
Complaint ID: 5140182
Company: Optum Bank, INC.
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Fee problem
State: Arizona
ZIP Code: 85308
Date Received: 2022-01-23T12:00:00-05:00
Date Sent to Company: 2022-01-23T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I opened an HSA account with XXXX XXXXXXXX XXXX in XXXX. In XXXX, XXXX XXXXXXXX XXXX sold its XXXX accounts or business to Optum Bank. As part of this transfer, Optum Bank provided the existing XXXX XXXX Bank HSA accountholders with its assurance that the transfer of accounts will be seamless, which included an assurance that the current XXXX XXXXXXXX XXXX fee structure would continue to be applicable to our accounts. This fee structure provided a fee waiver in the event your HSA account ( cash and investments ) exceeded {$5000.00}. I have attached a pdf of the Frequently Asked Questions flyer prepared by Optum Bank evidencing this representation. Optum Bank honored its commitment until XX/XX/XXXX. My HSA account had a balance greater than {$10000.00}. In this month, Optum Bank charged my account a {$2.00} monthly maintenance fee and a {$3.00} investment fee. I contacted Optum Bank to contest the fees assessed with a reference to the prior representations made my Optum Bank. My request was denied. In order to prevent the continued erosion of my HSA account through this aggressive fee schedule, I closed my account ( allowing Optum Bank to charge me a {$20.00} transfer fee ) and transferred my account to XXXX. I have been diligent about monitoring my HSA account for fees that included at least one prior instance that a fee was assessed and subsequently reversed. I believe Optum Bank should be held accountable to honor its representations to the former XXXX XXXX HSA accountholders and they should be required to investigate and make public its findings as to any fees erroneously assessed on the former XXXX XXXX HSA accountholders and to make to pay any appropriate refunds and penalties that are deemed warranted.
Frequently Asked Questions
What is Complaint #5140182 about?
Complaint #5140182 was filed against Optum Bank, INC. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-01-23T12:00:00-05:00.
How did Optum Bank, INC. respond to this complaint?
The company responded with: "Closed with monetary relief". 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 (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Optum Bank, INC.?
Yes, visit the Optum Bank, INC. company profile at readthecomplaint.com/company/optum-bank-inc 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.