FISERV Investment Support Services
Delays following the account holders instructions to generate account fees!

LAST DECEMBER, I asked FISERV to transfer my IRA to another company and close my account. First, they charged exorbitant termination fees. After reluctantly paying them, I am still waiting for the account to transfer! It has been nine months!

Of course, the delay has caused additional quarterly fees to be charged, so now they won't transfer the account until I pay those!

FISERV says they never transferred my account because the receiving custodian told them not to transfer it (which is true, there was a paperwork glitch on that end). My beef is this: Why didn't FISERV immediately contact me and clarify the confusion between my written instructions directly to FISERV to transfer my account, and a third party custodian telling them not to? FISERV has not ever hesitated to contact me when a fee comes due!

I am the account holder and never gave FISERV any other instructions but to transfer and close my account. They have not done so. Their response was to "take it up the the company who told them not to transfer my account". First Laura, then her supervisor, David Franceschini, said that FISERV did not need to contact me when there was a discrepancy between the written instructions from me and what they received from the third party because, "this type of thing happens all the time."

DO NOT EVER use this company. They will follow the instructions of third parties and YOU must deal with the consequences. THEY will do nothing to address your concerns, delay, and keep charging your account more and more fees.

Company: FISERV Investment Support Services
Country: USA
State: Colorado
City: Denver
Address: P O Box 173859
Phone: 8009624238

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